The International Trade Between Countries in the Cosmetics Industry

DOI

10.2991/aebmr.k.220307.006How to use a DOI?

Keywords

Game theory; Cosmetics; Trade; Economics

Abstract

Last century, the famous scholar John Nash first introduced his theory about “the Nash equilibrium” and introduced to more people the abstract concept of game theory. With his mathematical abilities, he formulated models that can be better explained and analyzed. His founding was also very interesting and could be applied to different fields during research. Game theory is the study of strategic interactions between rational players, which has been applied in many fields such as sociology, economics, and mathematics. Its importance reveals that using the intricate models to explain different situations. This paper adopts the game theory to analyze the cosmetics industry, which is one very important industry in the world. The model was built, which imitates the collaborations between a retailer and a supplier. The research done has the purpose of illustrating the collaborations between people under the severe condition of Covid-19.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Kangni Li
PY  - 2022
DA  - 2022/03/26
TI  - The International Trade Between Countries in the Cosmetics Industry
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 32
EP  - 38
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.006
DO  - 10.2991/aebmr.k.220307.006
ID  - Li2022
ER  -