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Multiple nash equilibriums and evaluation of strategies. New application of MCDM methods

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  • Sarfaraz Hashemkhani Zolfani
  • Reza Maknoon
  • Edmundas Kazimieras Zavadskas

Abstract

There are two different approaches in this study with different implications. The first approach and the main aim of this study is a methodological framework. There are different frameworks in solving game theory topics involving at least two Nash Equilibriums. This study presents a new framework for developing this part of game theory with MCDM framework. The authors believe that at least there is a perspective or paradigm behind each game theory topic, leading to the development of strategies accordingly. For this purpose a hybrid MCDM method based on SWARA-WASPAS is applied in the process of research for evaluating the strategies. The general topic of this research is in supply chain management field. This research also focuses on this issue and implies extend of the complication involved. An additional focus in the present paper is on defining a game. This research addresses developing strategies from only stable strategies to both normal and dynamic strategies. The topic is established to find the best mixed strategy considering current international and economical position of Iran against complicated international relations' issues and specially sanction.

Suggested Citation

  • Sarfaraz Hashemkhani Zolfani & Reza Maknoon & Edmundas Kazimieras Zavadskas, 2015. "Multiple nash equilibriums and evaluation of strategies. New application of MCDM methods," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 16(2), pages 290-306, April.
    • Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:290-306
    DOI: 10.3846/16111699.2014.967715
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    Cited by:

    1. Esfandi, Saeed & Nourian, Farshad, 2021. "Urban carrying capacity assessment framework for mega mall development. A case study of Tehran’s 22 municipal districts," Land Use Policy, Elsevier, vol. 109(C).
    2. Keshavarz Ghorabaee, Mehdi & Amiri, Maghsoud & Zavadskas, Edmundas Kazimieras & Turskis, Zenonas & Antucheviciene, Jurgita, 2017. "A new hybrid simulation-based assignment approach for evaluating airlines with multiple service quality criteria," Journal of Air Transport Management, Elsevier, vol. 63(C), pages 45-60.
    3. Muhammad Gulistan & Mutaz Mohammad & Faruk Karaaslan & Seifedine Kadry & Salma Khan & Hafiz Abdul Wahab, 2019. "Neutrosophic cubic Heronian mean operators with applications in multiple attribute group decision-making using cosine similarity functions," International Journal of Distributed Sensor Networks, , vol. 15(9), pages 15501477198, September.
    4. Collins, Benjamin C. & Kumral, Mustafa, 2020. "Game theory for analyzing and improving environmental management in the mining industry," Resources Policy, Elsevier, vol. 69(C).
    5. Dragisa STANUJKIC & Darjan KARABASEVIC & Edmundas Kazimieras ZAVADSKAS, 2017. "A New Approach for Selecting Alternatives Based on the Adapted Weighted Sum and the SWARA Methods: A Case of Personnel Selection," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(3), pages 39-56.
    6. M. Punniyamoorthy & Sarin Abraham & Jose Joy Thoppan, 2023. "A Method to Select Best Among Multi-Nash Equilibria," Studies in Microeconomics, , vol. 11(1), pages 101-127, April.

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