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Modeling risk using elements of game theory and fractals

Author

Listed:
  • Constantin TULAI
  • Ioana POPOVICI

    (Babes-Bolyai University, Cluj-Napoca)

Abstract

Where did the money go? This is the question that managers of financial institutions that collapsed have been facing during the actual global crisis. Is the risky behavior of players on the market to be blamed or the network effect of the interdependence of financial institutions, created for the purpose of dividing risk among players on the market. What role does risk play in the results of gambling through strategic behavior in economic activity. Do the classical premises of rationality in minimizing risk on unit of expected value or profit, still hold today? The purpose of this paper implies modeling risk on economic decision- making, by using elements of game theory and fractal theories.

Suggested Citation

  • Constantin TULAI & Ioana POPOVICI, 2010. "Modeling risk using elements of game theory and fractals," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(11), pages 79-83, May.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2010:i:11:p:79-83
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    File URL: http://feaa.ucv.ro/FPV/011-11.pdf
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    Citations

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    Cited by:

    1. Ioana Florina Coita, 2017. "Equilibrium Model Of Business Architecture Using Premises Of Agent-Based Modeling," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 166-176, December.

    More about this item

    Keywords

    decision - making; risk theory; fractals; strategic behavior;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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