The complex evolution of information quality improvement in competitive market
RAIRO: Recherche Opérationnelle
; 57:351-369, 2023.
Article
in English
| ProQuest Central | ID: covidwho-2320508
ABSTRACT
Information is important market resource. High-quality information is beneficial to increase enterprise's reputation and reduce consumer's verification cost. This paper constructs a two-layer dynamic model, in which enterprises simultaneously conduct price and information game. The goal of profit maximization integrates two types of games into one system. The complex evolution of the two-layer system are studied by equilibrium analysis, stability analysis, bifurcation diagram, entropy and Lyapunov exponent. It is found that improving the information quality through regulations will increase involution and reduce stability of the market. Then, the block chain technology is introduced into the model for improving information quality of the market. It is found that increasing enterprises' willingness to adopt block chain can improve the information quality quickly and effectively, and that is verified by entropy value. Therefore, the application and promotion of new technologies are more effective than exogenous regulations for improving information quality in market.
Computers--Cybernetics; Competition; information quality; complexity; chaos; involution; Liapunov exponents; Stability analysis; Entropy; Evolution; Cryptography; Equilibrium analysis; Dynamic models; Regulations; New technology; Blockchain; Profits; Prices; International finance; Market equilibrium; Complexity theory; Subsidies; Economics; COVID-19; Stock exchanges; Big Data; Quality improvement; Supply chains; Profit maximization; Cost control; Coronaviruses; Disease transmission; 52321:Securities and Commodity Exchanges
Full text:
Available
Collection:
Databases of international organizations
Database:
ProQuest Central
Language:
English
Journal:
RAIRO: Recherche Opérationnelle
Year:
2023
Document Type:
Article
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