Optimization of the Interaction of Industrial Enterprises and Foreign Counterparties using Pure Player Strategies in a Non-cooperative Game

TEM Journal; Vol 8, No 1, 2019. ISSN 2217-8309
Optimization of the business entities interaction with foreign partners when entering new foreign markets is the key to the successful development of their foreign economic activity and provides the enterprises with additional benefits from expansion of the spheres of activity and potential markets. Game theory is an effective tool for modeling interaction scenarios between enterprises and their potential partners, based on the consent or refusal of each partner to cooperate. The approach proposed in this article allows optimizing interaction processes by compensating losses to economic entities and maximizing the benefit as a result of a non-cooperative game use while simulating their interaction scenarios.