A MULTI-CRITERIA GAME THEORY MODEL TO INCREASE THE MARKET SHARE OF COMPANIES IN THE INSURANCE INDUSTRY

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ABTAHI SEYYED AMIR REZA; RASHNAVADI YAGHUB; REZAMAND CHALESHTORI ATEFEH

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Journal: IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH) Year:2016 | Volume:31 | Issue:2 (122) Page(s): 21-39

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Title

A MULTI-CRITERIA GAME THEORY MODEL TO INCREASE THE MARKET SHARE OF COMPANIES IN THE INSURANCE INDUSTRY

Author(s)

ABTAHI SEYYED AMIR REZA | RASHNAVADI YAGHUB | REZAMAND CHALESHTORI ATEFEH | Issue Writer Certificate

Keywords

INSURANCEQ2

COMPETITIVE MARKETQ1

MARKET SHAREQ2

GAME THEORYQ2

COOPERATIVE GAMEQ1

GAME EQUILIBRIUMQ1

Abstract

INSURANCE market companies can be more successful in the competition when they consider in addition to internal abilities, competitors' interactions and strategies in determining the appropriate strategy for increasing INSURANCE share in all of economic activities. An efficient approach is GAME THEORY in competitors' interactions analysis and decision making based on its. In this research, we model INSURANCE industry market with the aim of increasing MARKET SHARE using the GAME THEORY. For this purpose, competition among three private INSURANCE companies is investigated with the goal of maximizing three criteria: portfolio, profit and revenue (sum of revenues identified and collected in list of investments revenues in financial statements of INSURANCE company) and modeled by GAME THEORY. The obtained results of GAME THEORY indicate the Pareto solution. In this competition, with both an emphasis on utility lost at any company and with an emphasis on total utilities lost at all companies, has reached to a single unit. INSURANCE companies can use proposed approach to determine the best strategy for successful presence in the market and to increase their MARKET SHARE in the competition with rivals.

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APA: Copy

ABTAHI, SEYYED AMIR REZA, RASHNAVADI, YAGHUB, & REZAMAND CHALESHTORI, ATEFEH. (2016). A MULTI-CRITERIA GAME THEORY MODEL TO INCREASE THE MARKET SHARE OF COMPANIES IN THE INSURANCE INDUSTRY. IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH), 31(2 (122)), 21-39. SID. https://sid.ir/paper/100966/en

Vancouver: Copy

ABTAHI SEYYED AMIR REZA, RASHNAVADI YAGHUB, REZAMAND CHALESHTORI ATEFEH. A MULTI-CRITERIA GAME THEORY MODEL TO INCREASE THE MARKET SHARE OF COMPANIES IN THE INSURANCE INDUSTRY. IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH)[Internet]. 2016;31(2 (122)):21-39. Available from: https://sid.ir/paper/100966/en

IEEE: Copy

SEYYED AMIR REZA ABTAHI, YAGHUB RASHNAVADI, and ATEFEH REZAMAND CHALESHTORI, “A MULTI-CRITERIA GAME THEORY MODEL TO INCREASE THE MARKET SHARE OF COMPANIES IN THE INSURANCE INDUSTRY,” IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH), vol. 31, no. 2 (122), pp. 21–39, 2016, [Online]. Available: https://sid.ir/paper/100966/en

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