BUILDING A MODEL OF THE ANTAGONISTIC GAME OF CHOOSING THE STRATEGY OF FOREIGN ECONOMIC ACTIVITY IN THE CONDITIONS OF DIGITALIZATION
Article Sidebar
Section
This work is licensed under a Creative Commons Attribution 4.0 International License.
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution 4.0 International (CC BY 4.0) license, which permits unrestricted use, distribution, and reproduction of the content in any medium, providing that the original author and source are credited.
Main Article Content
Abstract
The purpose of the study is to build a model of the antagonistic game of choosing the strategy of the FEA in the conditions of digitalization. To do this, approaches to the use of Game Theory will be explored. The economic and mathematical apparatus and its application for the strategy of foreign economic activity are considered.
This study allows us to determine whether Game Theory is a suitable analytical tool for foreign economic activity-oriented decision-making. In this context, through strategic interdependence games, FEA is associated with making decisions to determine whether to collaborate or compete, innovate or emulate in order to create innovative advantages in the company.
It has been found that sometimes our economic decisions are influenced by the decisions of third parties; To understand how these decisions are made and which is the best among several alternatives, game theory arises. The study of game theory in economics will define a game as an abstraction of a specific economic situation. One or more solutions will be suggested, and the author will try to demonstrate which strategies correspond to the equilibrium in the presented game. Game theory cases are often represented graphically using matrices to better understand the reasoning of the participants.
Companies use game theory not only to set prices but also to determine when and in which market to conduct FEA and predict competitive decisions. Therefore, the theory of games was applied to foreign exchange for different markets. In order to use this theory, it is necessary to have information about other players, their advantages, and limitations. It consists in achieving a balance of benefits for all. When all players have made a decision and if changing it makes them feel worse, a Nash equilibrium is said to be reached.
Article Details
How to Cite
References
Álvarez, P. (2015). Teoría de Juegos. Cantabria: Universidad de Cantabria.
Ayala Ruiz, Luis Eduardo y Arias Amaya Ramiro (2003). Teoría de Juegos.
Basco, A., Beliz, G., Coatz, D., Garnero, P. (2018). Industria 4.0: Fabricando el Futuro. Banco Interamericano de Desarrollo. http://dx.doi.org/10.18235/0001229
Basili, Marcello and Zappia, Carlo (2003). Skackll´s economic agent and modern decision theory. Universitá Degli-Studi-di-Siena. Department of Political Economy. http://dx.doi.org/10.2139/ssrn.467401
Betegon, L. (2004). Compulsory pharmaceutical licenses in the World Organization of Commerce: an analysis from game theory. University of Salamanca, Department of Applied Economics 2.
Binmore, Ken (1994). Teoría de juegos. McGraw-Hill / Interamerica de España, SA España
Cantillo, M., and Guevara, P. (1999). The optimal length and amplitude of patents: a mechanism to encourage innovation. https://www.incae.edu/ES/clacds/ publicaciones/pdf/cen1803.pdf
Contreras, H. (1995). Robert Lucas, las expectaziones rationales y la macroeconomía. Economía Informa, 243, 38-40. https://biblat.unam.mx/es/revista/economia-informa/articulo/robert-lucas-las-expectativas-racionales-y-la- macroeconomia
Cukierman, P. (1994). Los determinants de la competitividad de la Industria Química de Base en España. Department of Applied Economics of the Universitat Autònoma de Barcelona.
Durán, E., Bilbao, J., Fernández, F., Fernández, J., Hinojosa, M., Jiménez N., Jiménez, A., Lebrón, E., López, J., Mármol, A., & Monroy, L. (1996). Advances in game theory with economic and social applications. University of Seville. Department of Applied Economics. Editores JM Bilbao FR Fernández
Ermakova, O. M. (2016). STRATEGIC ENTERPRISE MANAGEMENT: ESSENCE AND FEATURES. Polissya Scientific Bulletin, 4(4), 92–96. retrieved from http://nvp.stu.cn.ua/article/view/68842
Federación Internacional de Robotica. (2020). World Robotics Report 2020. https://ifr.org/ifr-press-releases/news/record-2.7-million-robots-work-in-factories-around-the-globe#:~:text=Sales%20of%20 new%20robots%20remain,highest%20sales%20volume%20ever%20recorded
Fernández, J., & Parra, M. (2012, March 18). Nash's game theory in technological negotiation models. Ingeniría Solidaria, 8(14), 89-93.
Foss, Nicolai (1999). Austrian Economics and game theory: a stocktaking and an evaluation. Department of industrial economics and strategy. Copenhagen Business School. http://dx.doi.org/10.1023/A:1007802112910
Garafonova, O. I., & Kalenska, O. L. (2015). Enterprise development strategies: theoretical foundations and peculiarities of formation in the conditions of the need for innovative activity. Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences, 1, 36-49. http://nbuv.gov.ua/UJRN/vknutden_2015_1_6
Garafonova, O.I. (2015). Konkurentna Strategia: sutnist ta osoblyvosty formuvannia na pydpryemstvah legkoii promyslovosty. Sotsialno - economicychny rozvytok regioniv v kontekty myzhnarodnoi integratsii, 18(7), 16-20.
Garafonova, Olga Ivanivna, & Voronets, Dmytro Oleksandrovich (2023). Strategic Analysis of the Industry During Diversification of Enterprise Activities. BY, 3(494). https://cyberleninka.ru/article/n/strategichniy-analiz-galuzi-v-hodi-diversifikatsiyi-diyalnosti-pidpriemstva
Garafonova, O., Gruzina, I., Kozyreva, O., Margasova, V., Pishchenko, O., & Tarasyuk, G. (2023). Strategic perspectives of functioning of ukrainian organizations in the conditions of european integration and globalization of the digital economy. Financial and Credit Activity Problems of Theory and Practice, 1(48), 298–311. https://doi.org/10.55643/fcaptp.1.48.2023.3957
Gastaldi, Carlota, Urrea, Marcel, & Fernández, Pedro (1998). Decision theory: Von Neumann's contributions. Divulgaciones Matemáticas. Facultad Experimental de Ciencias. University of Zulia. Maracaibo, Venezuela, 6(1), 37-42. http://www.emis.de/journals/DM/v61/art5.pdf
Gibbons, Robert (1996). An introduction to applicable game theory. http://papers.nber.org/papers/to199.pdf
Ivashchenko, G. A. (2021). Formation of the enterprise's foreign economic strategy. Efficient economy, 5. https://doi.org/10.32702/2307-2105-2021.5.101
Klemperer, P. (1990). How broad should the scope of patent protection be? rand Journal of Economics, 21(1), 113-130. https://doi.org/10.2307/2555498
Ksendzuk, V.V. (2020) Mechanisms of formation and implementation of the state foreign trade policy of Ukraine: monograph. Zhytomyr: Ed. O.O. Evenok.
Lanza, César (2000). Applications of game theory to the telecommunications market. http://www.tecnova.es/ti/tribunalibre07.htm
Mafra, É. (2020, February 23). What are unicorn companies? https://roc-kcontent.com/es/blog/empresas-unicornio/
Mankiw, N. (2000). Principles of economics. Harcourt Brace & Company. First edition.
Martínez, Juan (2001). Introducción a la teoría de los juegos en la economia de mercado, virtudes e inconpenidos. www.eumed.net/cursecon/juegos/
Mirjam Sent, Esther (2003). The legacy of Herbert Simon in game. Journal of Economic Behavior Organization, 53(3), 303-317. https://doi.org/10.1016/j.jebo.2002.10.006
Nalebuff, Barry J., & Brandenburger, Adam (1997). Coopetition. Ediciones Díaz de Santos, SA Colombia.
Neumann, J., & Morgenstern, O. (1944). Theory of Games and Economic Behavior. Princeton University Press
Organization for Economic Cooperation and Development [OCDE]. (2006). Manual de Oslo: Guía para la recogida e interpretación de data sobre innovation (3.a ed.). Grupo Tragsa.
Porter, M. (1990). The competitive advantage of nations. Harvard Business Review. Ricardo, D. (1817). The Principles of Political Economy and Taxation. John Murray. Schumpeter, J. (2015). Capitalism, Socialism and Democracy. Barcelona, Página.
San Román, Antonio Pulido (2002). Possibilities and limitations of mathematics in economics. Cuadernos del fondo de investigation Richard Stone. Centro Stone.
Shubik, Martin (2000). Game Theory: Some observations. Working Paper Series B. Operations Research. Yale School of Management. http://dx.doi.org/10.2139/ssrn.238964
Von Neumann, J., & Morgenstern, O. (1953). Theory of games and economic behavior. Third edition. John Wiley and sons, New York, NY.
World Economic Forum. (2016). Informe Global de Tecnología de la Información 2016. Foro Económico Mundial. https://www.club-bpm.com/Contenido/Estudios/est-2017-001.htm