Evolution Model Analysis of Group Buying Games
Ya-Lan Li
College of Science, Guilin University of Technology, Guilin 541004, China
Qi-Qing Song *
College of Science, Guilin University of Technology, Guilin 541004, China
*Author to whom correspondence should be addressed.
Abstract
This paper introduces an evolutionary game model in a mixed population. The simulation results show that competition between suppliers increases social welfare and can reveals the base price of a product in cases of some strategy profiles; however, collusion will benefit suppliers. The bounded rationality of individuals has important influence on the coexistence of suppliers.
Keywords: Group buying, evolutionary games, bounded rationality