Hyper-Rational Choice and Economic Behaviour
Journal Title: Advances in Mathematical Finance and Applications - Year 2018, Vol 3, Issue 3
Abstract
In this paper, with help of the concept of hyper-rationality, we model the interaction between two investment companies by an important game as trickery game that has special equilibrium which called hyper-equilibrium. In trickery game, one company can choose cooperation with another company until the last moment and finally changes his action to non-cooperation which incur more loss to an opponent. Indeed, the hyper-equilibrium is the point in which only one player can displace equilibrium to another point by changing his action which causes profit or loss to other players so they cannot change their action. Our findings indicate that the kind of behaviour interactive, environmental conditions, and valuation system are based on hostility causes an equilibrium point to incur the maximum loss to an opponent.
Authors and Affiliations
Majid Eshaghi Gordji, Gholamreza Askari
Keywords
Related Articles
- EP ID EP460207
- DOI 10.22034/AMFA.2018.544950
- Views 56
- Downloads 0
Fuzzy Goal Programming Model to Rolling Performance Based Budgeting by Productivity Approach (Case Study: Gas Refiner-ies in Iran)
This research presents a mathematical model for performance-based budgeting and combines it with rolling budget for increased flexibility. The model has been designed by Chebyshev's goal programming technique with fuzzy...
Investigating the Effect of Financial Constraints and Different Levels of Agency Cost on Investment Efficiency
This research attempts to investigate the effect of financial constraints and different levels of agency costs on the investment efficiency of companies in Iran. Following the design of the financial risk assessment inde...
Effect of Oil Price Volatility and Petroleum Bloomberg Index on Stock Market Returns of Tehran Stock Exchange Using EGARCH Model
The present research aims to evaluate impacts of crude oil price return index, Bloomberg Petroleum Index and Bloomberg energy index on stock market returns of 121 companies listed in Tehran stock exchange in a 10 years'...
Using Genetic Algorithm in Solving Stochastic Programming for Multi-Objective Portfolio Selection in Tehran Stock Exchange
Investor decision making has always been affected by two factors: risk and returns. Considering risk, the investor expects an acceptable return on the investment decision horizon. Accordingly, defining goals and constrai...
Assessment of the efficiency of banks accepted in Tehran Stock Exchange using the data envelopment analysis technique
The research provides a systematic method for assessing the financial performance of the banks. The analysis is based on a set of benchmarks related to the financial performance of the banks. In this regard, this researc...