Bertrand Game with Nash Bargaining Fairness Concern
Bertrand Game with Nash Bargaining Fairness Concern
复制标题
纳什讨价还价公平性问题的伯特兰博弈
DOI：
10.1155/2019/1253092
复制
发表时间：
2019-08
期刊：
影响因子：
2.3
通讯作者：
Tan Chunqiao
中科院分区：
文献类型：
--
作者：
Yi Wentao;Tan Chunqiao
The classical Bertrand game is assumed that players are perfectly rational. However, many empirical researches indicate that people have bounded rational behavior with fairness concern, which is important in the two-person game and has attracted much attention. In this paper, fairness concern is incorporated into the Bertrand game with two homogeneous products and the effect of fairness concern on this extended Bertrand game is explored. Nash bargaining solution of player is applied to be his own fairness reference point. Then, a Bertrand game model with fairness concern is established, and its equilibrium price is also derived and analyzed. It is shown from some numerical examples that fairness concern and bargaining power of players have a significant influence on their equilibrium price, expected profits, and utilities. As a player gets more fair-minded, if the other player has a less focus on fairness, the price competition between them will be intensified and both of them suffer loss. Thus, fairness concern may be advantageous or disadvantageous for players. In most situations, the fairness concern behavior is not beneficial for players. Additionally, the effect of bargaining power is relative to fairness concern. A player who manufactures a low-cost product should have a weak bargaining power if he terribly focuses on fairness and should have a strong bargaining power if he pays little attention to fairness. However, a player who manufactures a high-cost product should have a weak bargaining power if he is rarely concerned about fairness. Anyway, the same bargaining power is the best for two players.
登录
查看更多内容
影响因子：
5.4
作者：
Loch, Christoph H.;Wu, Yaozhong
通讯作者：
Wu, Yaozhong
DOI：
10.1111/j.1467-8586.2011.00411.x
发表时间：
2013-10
期刊：
ERN: Other Macroeconomics: Employment
影响因子：
--
作者：
Victor J. Tremblay;C. Tremblay;Kosin Isariyawongse
通讯作者：
Victor J. Tremblay;C. Tremblay;Kosin Isariyawongse
DOI：
10.1016/j.physa.2018.12.022
发表时间：
2019-04-01
影响因子：
3.3
作者：
Chen, Wei;Wu, Te;Wang, Long
通讯作者：
Wang, Long
DOI：
10.1017/cbo9780511609220.014
发表时间：
1979-12
期刊：
--
影响因子：
--
作者：
D. Kahneman;A. Tversky
通讯作者：
D. Kahneman;A. Tversky
影响因子：
0.5
作者：
José Méndez Naya
通讯作者：
José Méndez Naya