Game theory in entrepreneurship: a review of the literature

AlOmari, Abdallah M.H.

doi:10.1108/jbsed-01-2023-0005

Cited by 3 publications

(1 citation statement)

References 49 publications

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“…In a related development, a wonderful review work was done by [21], where details on game theory were given and a comparison of the popularity of game theory and entrepreneurship was made using different journal indexing databases such as EBSCO, Google Scholar, etc., and the review showed that game theory was more popular than the entrepreneurship. This indicates the popularity and application of game theory in different fields of life.…”

Section: Literature Reviewmentioning

confidence: 99%

Application of Game Theory in the Nigerian Electoral System

Amuji,

Onwuegbuchunam,

Okechukwu

et al. 2024

International Journal of Computational and Applied Mathematics &Amp; Computer Science

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In this paper, we carry out a study on the application of game theory in the Nigerian electoral system. The data for the study was collected from the official publication of INEC results for six major political parties in the February 25th, 2023 presidential election in Nigeria. In the competitive game, each political party and INEC used mixed strategies in the game. The political parties compete for the electorates’ vote while INEC regulates the game. INEC has six strategies and political parties also have six strategies which they apply in various proportions to outweigh the other. Therefore, for any of the political parties to be successful in the election, she must apply: party structure up to 19.54%; manifesto up to 20.18%; campaign up to 19.05%; people’s perception of the political party up to 20.26%; vote from electorate up to 19.54% and acceptable candidate up to 1.43% of the time respectively. For INEC to effectively perform her statutory responsibility, she must apply: electoral law up to 18.71%; electoral guidelines up to 19.99%; prosecuting electoral offenders up to 16.87%; cancelling elections up to 23.14%; inconclusive elections up to 19.19%; declaration of results up to 2.10% of the time respectively and the value of the game was 1.5337.

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Section: Literature Reviewmentioning

confidence: 99%

Application of Game Theory in the Nigerian Electoral System

Amuji,

Onwuegbuchunam,

Okechukwu

et al. 2024

International Journal of Computational and Applied Mathematics &Amp; Computer Science

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Knowledge creates value: the role of financial literacy in entrepreneurial behavior

Xu,

Jiang

2024

Humanit Soc Sci Commun

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Under the backdrop of economic globalization and the digital economy, entrepreneurial behavior has emerged not only as a focal point of management research but also as an urgent topic within the domain of family finance. This paper scrutinizes the ramifications of financial literacy on household entrepreneurial behavior utilizing data from China’s sample of the China Household Finance Survey spanning the years 2015 and 2017. Employing the ordered Probit model, we pursue our research objectives. Our findings suggest that financial literacy exerts immediate, persistent, and evolving positive effects on households’ engagement in entrepreneurial activities and their proclivity toward entrepreneurship. Through the mitigation of endogeneity in the regression model, the outcomes of the two-stage regression corroborate the primary regression results. An examination of heterogeneity unveils noteworthy disparities between urban and rural areas, as well as gender discrepancies, in how financial literacy influences household entrepreneurial behavior. Furthermore, this study validates three potential pathways—namely income, social network, and risk attitude channels—demonstrating that financial literacy significantly augments household income, expands social networks, and enhances risk attitudes. Moreover, through supplementary analysis, we ascertain that financial education amplifies the impact of financial literacy on entrepreneurial behavior. Our study contributes to the enrichment of human capital theory and modern entrepreneurship theory. It advocates for robust efforts by governments and financial institutions to widely disseminate financial knowledge and foster family entrepreneurship, thereby fostering the robust and stable operation of both the global financial market and the job market.

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Optimization of Sharpley Value Method of Cost Allocation in a Bimodal Transport- Supply Chain Distribution Via Dynamic Programming

Amuji,

Okechukwu,

Obinwanne

et al. 2024

International Journal of Applied Mathematics, Computational Science and Systems Engineering

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In this paper, we proposed a coalition between two modes of transportation, where one provides cargo train and the other provides trucks of capacity 453 tons respectively for the coalition. We have five grand coalitions and four coalitions. The coalitions were distributed along five paths across Nigeria and specialized in the distribution of agricultural produce from the north to the south. Each of the coalition was made up of four transport providers and composed of four legs. Since this is a cooperative game scenario, Sharpley's value method of cost allocation was used to obtain the gains accrued to the grand coalition. The coalition made a total savings of 1259.6 million naira within the period under study. The researchers further developed and applied a Dynamic programming model to the supply chain distribution and obtained an intelligent result. They discovered that if the five coalitions were distributed among the four legs, in this other (1, 1, 2, 1), the grand coalition would make an additional gain of 377.6 million naira. The distribution means that the allocation of the coalition to the third leg should be doubled while the other legs remain as they were. The introduction of the optimization method into the system brought additional revenue to the coalition and increased the total gain to 1637.3 million naira.

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Game theory in entrepreneurship: a review of the literature

Cited by 3 publications

References 49 publications

Application of Game Theory in the Nigerian Electoral System

Application of Game Theory in the Nigerian Electoral System

Knowledge creates value: the role of financial literacy in entrepreneurial behavior

Optimization of Sharpley Value Method of Cost Allocation in a Bimodal Transport- Supply Chain Distribution Via Dynamic Programming

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