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Application of the Game Theory with Perfect Information to an agricultural company

Author

Listed:
  • Suitberto CABRERA GARCÍA

    (Deparment of Applied Statistics and Operational Research, and Quality, Polytechnic University of Valencia, Valencia, Spain)

  • Josué E. IMBERT TAMAYO

    (Department of Mathematical Methods, Faculty of Economics and Management, University of Oriente, Santiago de Cuba, Cuba)

  • Jorge CARBONELL-OLIVARES

    (Deparment of Applied Statistics and Operational Research, and Quality, Polytechnic University of Valencia, Valencia, Spain)

  • Yaylin PACHECO CABRERA

    (Department of Mathematical Methods, Faculty of Economics and Management, University of Oriente, Santiago de Cuba, Cuba)

Abstract

This paper deals with the application of Game Theory with Perfect Information to an agricultural economics problem. The goal of this analysis is demonstrating the possibility of obtaining an equilibrium point, as proposed by Nash, in the case of an agricultural company that is considered together with its three sub-units in developing a game with perfect information. Production results in terms of several crops will be considered in this game, together with the necessary parameters to implement different linear programming problems. In the game with perfect information with the hierarchical structure established between the four considered players (a management center and three production units), a Nash equilibrium point is reached, since once the strategies of the rest of the players are known, if any of them would use a strategy different to the one proposed, their earnings would be less than the ones obtained by using the proposed strategies. When the four linear programming problems are solved, a particular case of equilibrium point is reached.

Suggested Citation

  • Suitberto CABRERA GARCÍA & Josué E. IMBERT TAMAYO & Jorge CARBONELL-OLIVARES & Yaylin PACHECO CABRERA, 2013. "Application of the Game Theory with Perfect Information to an agricultural company," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 59(1), pages 1-7.
    • Handle: RePEc:caa:jnlage:v:59:y:2013:i:1:id:1-2012-agricecon
    DOI: 10.17221/1/2012-AGRICECON
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    References listed on IDEAS

    as
    1. Z. Sojková & Z. Kropková & V. Benda, 2008. "Slovak agricultural farms in different regions - comparison of efficiency," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 54(4), pages 158-165.
    2. Jiří ŠŤASTNÝ & Vladimír KONEČNÝ & Oldřich TRENZ, 2011. "Agricultural data prediction by means of neural network," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(7), pages 356-361.
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    Citations

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    Cited by:

    1. Jan TYRYCHTR & Miloš ULMAN & Václav VOSTROVSKÝ, 2015. "Evaluation of the state of the Business Intelligence among small Czech farms," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(2), pages 63-71.

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