A Dynamic Network Game of the Fintech Industry  

作　　者：David W.K.Yeung Leon A.Petrosyan Ying-Xuan Zhang 

机构地区：[1]SRS Consortium for Advanced Study in Cooperative Dynamic Games,Shue Yan University,Hong Kong,China [2]Center of Game Theory,St Petersburg State University,Saint Petersburg,Russia [3]Department of Finance,Asia University,Taichung City,Taiwan,China [4]Faculty of Applied Mathematics-Control Processes and Center of Game Theory,St Petersburg StateUniversity,Saint Petersburg,Russia

出　　处：《Journal of the Operations Research Society of China》2024年第1期5-33,共29页中国运筹学会会刊（英文）

摘　　要：Economies of scale,economies of scope,and technology spillover are decisive eco-nomic elements that are crucial to the development in the Fintech industry.Thesepositive externalities are often realized through network links.In this paper,we presenta dynamic network offinancialfirms which exhibits these decisive elements.Thenetwork game equilibria are characterized.A Pareto efficient solution involving col-laboration of allfirms is provided.To obtain a fair-share distribution of cooperativegains,the Shapley value is adopted as the sharing mechanism.Payoff distributionmechanisms which guarantee the fulfilment of the Shapley value distribution in eachstage of the cooperation duration are derived.

关 键 词：Network game Network equilibria Shapley value Pareto efficientcooperation 

分 类 号：O17[理学—数学]