The behavioral model and game theory

Askari, Gholamreza; Gordji, M. Eshaghi; Park, Choonkil

doi:10.1057/s41599-019-0265-2

Cited by 45 publications

(31 citation statements)

References 50 publications

(36 reference statements)

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“…In 1950, John Nash introduced a new definition of equilibrium in games, which is a crucial concept in non-cooperative games [22,23]. Non-cooperative games are games in which all players appear independently in the game, and each player seeks to maximize his/her own interests [24,25]. In cooperative games, players, in order to achieve more benefits, choose cooperation instead of competition and agree to make coalitions and workgroups for choosing strategies that increase collective outcomes.…”

Section: Introductionmentioning

confidence: 99%

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The Impact of Teamwork on an Organization’s Performance: A Cooperative Game’s Approach

et al. 2020

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In this article, we study the impact of teamwork on an organization’s performance, considering a cooperative game’s framework. To promote teamwork culture, performance indexes were considered both individually and collectively, and by comparing the scores that every employee earned individually and collectively, their differences became obvious. In this approach, a cooperative game’s model was used in order to improve the organization’s performance. The proposed model, in addition to evaluating the organization and employee’s activities, implemented all payments, including overtime pay, rewards, etc., fairly and along with increasing performance and satisfaction. The cooperative approach created effective communications between employees and authorities and enhanced their motivation for teamwork. Moreover, results could be used for decisions related to employees (such as promotion, transition, firing, and secondment), analysis of training requirements, employees’ development, and research and plan valuation. Our findings show that the collaborative coefficient (CC) is a key factor in increasing productivity and improving the efficiency of an organization in the long run. The collaborative coefficient is a new concept in teamwork that has rarely been considered in scientific research.

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Section: Introductionmentioning

confidence: 99%

“…24.52 × 850 × 0.8 = 16, 673.7P 2 = H 2 × R 2 × α 2 = 31.87 × 760 × 1.04 =25, 190.05P 3 = H 3 × R 3 × α 3 = 38.61 × 680 × 1.26 = 33, 081.05Now, we must determine each person's value in the coalitions that he/she can participate. Suppose that three people work for one department within an organization.…”

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confidence: 99%

The Impact of Teamwork on an Organization’s Performance: A Cooperative Game’s Approach

et al. 2020

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“…In terms of this study, interest is represented by research papers where individual game theory aspects are considered, for example, works by F. Allen & S. Morris [8], G. Askari, M.E. Gordji & C. Park [14], V. Bieta & P. Smelyanets [15], E. Bonabeau [2], R. Breen [9], M. Breton [11], C. Daskalakis, A. Deckelbaum & A. Kim [16], L. Wei & Q. Hao-peng [5]. Thus, there are many applied works on this topic.…”

Section: Literature Reviewmentioning

confidence: 99%

“…A rational choice in investment activities can be understood as analysis of potential profits or losses and consequent search for actions, taking into account potential risks and possibility of occurrence of some events. In this research [14], some significant aspects of choosing can be added to consider the conditions of the external environment, the type of behavioral interaction in this environment and the system used to evaluate the impact of the environment on the decisions of the entity. Many personality traits of investors and decision-makers can also be assessed, which has been analyzed in the paper by [27].…”

Section: Savage Criterionmentioning

confidence: 99%

Formation of Investment Behavior Strategy using the Game-theoretic Method

Zaytsev¹,

Dmitriev²,

Fayzullin³

et al. 2021

TEM Journal

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This work is aimed at developing the behavior strategy of an economic entity involved in investment activities using the game-theoretic method. To build a qualitative model, the authors considered the economic aspects of game theory and developed an algorithm for adopting the game-theoretic criteria to investment planning. The authors analyzed the investment portfolios available for business entities on the Russian market to test the model. The outcome of the article is the formation of the authors’ approach to rationalizing the behavior of an economic entity in the course of investment activities. A practical example is given in which the suggested method is used when various investment portfolios are available. The approach was tested to prove that it can be practically applied and further used in the construction of investment strategies.

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“…To overcome this unbalanced epidemic, the international community must strengthen its solidarity. The hyper-rational thinking also suggests that countries and international societies cooperate with others based on their hyper-preferences in the situation of the COVID-19 pandemic and consider the collective benefit (Askari et al, 2019;Askari and Eshaghi Gordji, 2020). Considering this concept, each hyper-rational decisionmaker has three sets of choices: (1) set of individual preferences, (2) set of preferences for others, (3) both classes at the same time.…”

Section: The Impact Of Covid-19 Pandemic On the Global Economymentioning

confidence: 99%