Modeling rationality in marketing decision-making with game theory

1987 ◽  
Vol 15 (4) ◽  
pp. 22-32 ◽  
Author(s):  
C. Anthony di Benedetto
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Marketing Decision

scholarly journals A Game Theory-Based Approach for Modeling Autonomous Vehicle Behavior in Congested, Urban Lane-Changing Scenarios

Sensors ◽  
2021 ◽  
Vol 21 (4) ◽  
pp. 1523
Author(s):  
Nikita Smirnov ◽  
Yuzhou Liu ◽  
Aso Validi ◽  
Walter Morales-Alvarez ◽  
Cristina Olaverri-Monreal
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Autonomous Vehicles ◽  
Autonomous Vehicle ◽  
Urban Traffic ◽  
Road User ◽  
Lane Change ◽  
Traffic Light ◽  
User Interactions ◽  
Lane Changing

Autonomous vehicles are expected to display human-like behavior, at least to the extent that their decisions can be intuitively understood by other road users. If this is not the case, the coexistence of manual and autonomous vehicles in a mixed environment might affect road user interactions negatively and might jeopardize road safety. To this end, it is highly important to design algorithms that are capable of analyzing human decision-making processes and of reproducing them. In this context, lane-change maneuvers have been studied extensively. However, not all potential scenarios have been considered, since most works have focused on highway rather than urban scenarios. We contribute to the field of research by investigating a particular urban traffic scenario in which an autonomous vehicle needs to determine the level of cooperation of the vehicles in the adjacent lane in order to proceed with a lane change. To this end, we present a game theory-based decision-making model for lane changing in congested urban intersections. The model takes as input driving-related parameters related to vehicles in the intersection before they come to a complete stop. We validated the model by relying on the Co-AutoSim simulator. We compared the prediction model outcomes with actual participant decisions, i.e., whether they allowed the autonomous vehicle to drive in front of them. The results are promising, with the prediction accuracy being 100% in all of the cases in which the participants allowed the lane change and 83.3% in the other cases. The false predictions were due to delays in resuming driving after the traffic light turned green.

scholarly journals Entangled and correlated photon mixed strategy for social decision making

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Shion Maeda ◽  
Nicolas Chauvet ◽  
Hayato Saigo ◽  
Hirokazu Hori ◽  
Guillaume Bachelier ◽  
...  
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Mixed Strategy ◽  
Evolutionary Game ◽  
Slot Machines ◽  
Decision Strategy ◽  
Social Infrastructure ◽  
Positive Effects ◽  
Social Decision Making ◽  
The Given

AbstractCollective decision making is important for maximizing total benefits while preserving equality among individuals in the competitive multi-armed bandit (CMAB) problem, wherein multiple players try to gain higher rewards from multiple slot machines. The CMAB problem represents an essential aspect of applications such as resource management in social infrastructure. In a previous study, we theoretically and experimentally demonstrated that entangled photons can physically resolve the difficulty of the CMAB problem. This decision-making strategy completely avoids decision conflicts while ensuring equality. However, decision conflicts can sometimes be beneficial if they yield greater rewards than non-conflicting decisions, indicating that greedy actions may provide positive effects depending on the given environment. In this study, we demonstrate a mixed strategy of entangled- and correlated-photon-based decision-making so that total rewards can be enhanced when compared to the entangled-photon-only decision strategy. We show that an optimal mixture of entangled- and correlated-photon-based strategies exists depending on the dynamics of the reward environment as well as the difficulty of the given problem. This study paves the way for utilizing both quantum and classical aspects of photons in a mixed manner for decision making and provides yet another example of the supremacy of mixed strategies known in game theory, especially in evolutionary game theory.

Optimized Electric Vehicle Charging Pricing Method Using Game Theory

2014 ◽  
Vol 986-987 ◽  
pp. 400-403 ◽  
Author(s):  
Kuan Lu ◽  
Wen Shan Gao ◽  
Jing Li ◽  
Wan Lei Xue ◽  
Wen Xue Sun
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Cost Analysis ◽  
Benefit Cost Analysis ◽  
Charging Station ◽  
Electric Vehicle Charging ◽  
Main Factors ◽  
Benefit Cost ◽  
Behavior Models ◽  
Ev Charging

First, behavior models of the station operator and consumer are established considering all the main factors. Second, an optimized EV charging pricing method using Game Theory is introduced based on benefit-cost analysis. The calculation of government subsidies is also proposed in order to reach an equilibrium charging price. Finally, actual data of Hebei is used and results are shown to give supports to local government and charging station operator’s decision making.

Quantum Game of Dual-channel Supply Chain under Free-riding Behavior

2021 ◽  
Vol 1 (1) ◽  
pp. 3-17
Author(s):  
Yu-Chung Chang ◽  
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Quantum Entanglement ◽  
Free Riding ◽  
Selling Price ◽  
Quantum Game ◽  
Optimal Price ◽  
Dual Channel ◽  
Dual Channel Supply Chain ◽  
Classical Game

Based on the perspective of the quantum game, this paper explores when the online direct sales channel takes the free-riding behavior after the retail channel provides high-quality experience and services and how the dual-channel supply chain establishes a commodity pricing strategy. The retailer’s selling price follows a decreasing function of the free-riding behavior coefficient. while the online direct selling price does an increasing function of the free-riding behavior coefficient. Under centralized decision-making, there is no quantum entanglement, so the quantum game solution is consistent with the classical game solution. Under decentralized decision-making, the optimal price and profit of the quantum game are higher than those of the classical game when the quantum entanglement degree is greater than zero. When the quantum entanglement tends to be infinite, the optimal price of the quantum game finally remains in convergence. The quantum game theory is a more optimal decision-making method than the classical game theory.

Sign in / Sign up

Export Citation Format

Share Document