Negotiation problem

Izat B. Baybusinov, Enrico Maria Fenoaltea and Yi-Cheng Zhang

Physica A: Statistical Mechanics and its Applications, 2022, vol. 592, issue C

Abstract: We propose and solve a negotiation model of multiple players facing many alternative solutions. The model can be generalized to many relevant circumstances where stakeholders’ interests partially overlap and partially oppose. We also show that the model can be mapped into the well-known directed percolation and directed polymers problems. Moreover, many statistical mechanics tools, such as the Replica method, can be fruitfully employed. Studying our negotiation model can enlighten the links between social–economic phenomena and traditional statistical mechanics and help to develop new perspectives and tools in the fertile interdisciplinary field.

Keywords: Game theory; Nash equilibrium; Econophysics; Replica method; Directed percolation; Directed polymer (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:592:y:2022:i:c:s0378437121009754

DOI: 10.1016/j.physa.2021.126806

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