Using Fuzzy Game Theory on IPO's Pricing Behavior

DOI

10.2991/jcis.2006.177How to use a DOI?

Keywords

Pricing behavior; Underwriting system; IPO; Fuzzy game theory

Abstract

The purpose of this research is to explore the IPO pricing behavior in an underwriting system by applying the fuzzy game theory. Results of this study are: (1) The application of the fuzzy game theory is more consistent with the uncertainty relationship of human interference between independent and dependent variables in practice with profit return function as a potential function. Rewards for underwriters can be judged according to the principle of experience, which copes with actual situations more properly. (2) Differences of satisfaction exist between underwriters and issuing companies for IPO pricing in the underwriting system. Profit or satisfaction exchange can be conducted appropriately during the process of negotiating offering prices. (3) The comparison of profit changes and satisfaction sensitivity between underwriters and issuing companies can be served as a reference of exchange and increase in satisfaction for underwriters and issuing companies

Copyright

© 2006, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Kuang-Hua Hsu
AU  - Jian-Fa Li
AU  - Hon-Jenq Fan
PY  - 2006/10
DA  - 2006/10
TI  - Using Fuzzy Game Theory on IPO's Pricing Behavior
BT  - Proceedings of the 9th Joint International Conference on Information Sciences (JCIS-06)
PB  - Atlantis Press
SP  - 584
EP  - 587
SN  - 1951-6851
UR  - https://doi.org/10.2991/jcis.2006.177
DO  - 10.2991/jcis.2006.177
ID  - Hsu2006/10
ER  -