Food safety evolutionary game simulation model based on improved prospect theory. Issue 6 (3rd October 2017)

• Record Type: Journal Article
• Authors: Han, Fengxia; Li, Hongjuan
• Is Part Of: Journal of interdisciplinary mathematics. Volume 20:Issue 6/7(2017)
• Page Start: 1349
• Page End: 1354
• Publication Date: 2017-10-03
• Subjects: Food safety -- Prospect Theory -- Evolutionary game -- Perceived benefit parameter -- Quality incentive; 91A22; Mathematics -- Periodicals; Mathematics; Periodicals; 510.5
• DOI: 10.1080/09720502.2017.1384216
• Languages: English
• ISSNs: 0972-0502

Abstract

Abstract: Currently, China's food quality and safety has arisen the attention from the whole society. To strengthen the government supervision is imperative. We introduce a perceived benefit parameter ϕ value function and make a reasonable improvement. And thereby we build a food safety evolutionary game simulation model based on improved prospect theory. The study shows that, because of the limited rationality of both game players, conditions C ≤ ρϖ F 2, T ≤ (1 – ϖ) F2, C ≤ F1 + ρ (1 – η) F 2 and T ≤ F 1 + ηF2 are hardly met simultaneously in reality, which means it is difficult to achieve the stable evolutionary strategy of food safety in effect.