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Zhurnal Vychislitel'noi Matematiki i Matematicheskoi Fiziki, 2023, Volume 63, Number 3, Pages 380–389
DOI: https://doi.org/10.31857/S0044466923030080 (Mi zvmmf11522) 		 
Optimal control

A model of financial pyramid with quasi-rational participants

N. S. Kukushkinab

a Dorodnicyn Computing Center, Federal Research Center "Computer Science and Control", Russian Academy of Sciences, 119333, Moscow, Russia
b Moscow Institute of Physics and Technology, 141700, Dolgoprudnyi, Moscow oblast, Russia
DOI: https://doi.org/10.31857/S0044466923030080
Abstract: A model of a financial pyramid is proposed in which each participant makes a decision about entering and exiting the pyramid based on the maximin principle using his (or her) ideas about the characteristics of other participants. If the pyramid organizers are able to carry out the whole process quickly enough (so that the payoffs to agents who participated in the pyramid and left it in time do not matter too much), then exactly those agents who overestimated the share of losers in the total mass of agents will lose.
Key words: financial pyramid, bounded rationality, maximin principle, fixed point.
Funding agency Grant number
Russian Science Foundation 23-11-00129
This work was supported by the Russian Science Foundation (grant 23-11-00129).
Received: 02.05.2022
Revised: 23.10.2022
Accepted: 14.11.2022
English version:
Computational Mathematics and Mathematical Physics, 2023, Volume 63, Issue 3, Pages 360–368
DOI: https://doi.org/10.1134/S0965542523030089
Bibliographic databases:
Document Type: Article
UDC: 519.865
Language: Russian
Citation: N. S. Kukushkin, “A model of financial pyramid with quasi-rational participants”, Zh. Vychisl. Mat. Mat. Fiz., 63:3 (2023), 380–389; Comput. Math. Math. Phys., 63:3 (2023), 360–368
Citation in format AMSBIB
\Bibitem{Kuk23}
\by N.~S.~Kukushkin
\paper A model of financial pyramid with quasi-rational participants
\jour Zh. Vychisl. Mat. Mat. Fiz.
\yr 2023
\vol 63
\issue 3
\pages 380--389
\mathnet{http://mi.mathnet.ru/zvmmf11522}
\crossref{https://doi.org/10.31857/S0044466923030080}
\mathscinet{http://mathscinet.ams.org/mathscinet-getitem?mr=4582771}
\elib{https://elibrary.ru/item.asp?id=50435759}
\transl
\jour Comput. Math. Math. Phys.
\yr 2023
\vol 63
\issue 3
\pages 360--368
\crossref{https://doi.org/10.1134/S0965542523030089}
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