IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v12y2024i3p385-d1325934.html

Evolutionary Game Analysis of Digital Financial Enterprises and Regulators Based on Delayed Replication Dynamic Equation

Author

Listed:
  • Mengzhu Xu

    (School of Mathematics and Statistics, Guizhou University of Finance and Economics, Guiyang 550025, China)

  • Zixin Liu

    (School of Mathematics and Statistics, Guizhou University of Finance and Economics, Guiyang 550025, China
    Guizhou Key Laboratory of Big Data Statistical Analysis, Guizhou University of Finance and Economics, Guiyang 550025, China)

  • Changjin Xu

    (Guizhou Key Laboratory of Economics System Simulation, Guizhou University of Finance and Economics, Guiyang 550025, China)

  • Nengfa Wang

    (School of Mathematics and Statistics, Guizhou University of Finance and Economics, Guiyang 550025, China)

Abstract

With the frequent occurrence of financial risks, financial innovation supervision has become an important research issue, and excellent regulatory strategies are of great significance to maintain the stability and sustainable development of financial markets. Thus, this paper intends to analyze the financial regulation strategies through evolutionary game theory. In this paper, the delayed replication dynamic equation and the non-delayed replication dynamic equation are established, respectively, under different reward and punishment mechanisms, and their stability conditions and evolutionary stability strategies are investigated. The analysis finds that under the static mechanism, the internal equilibrium is unstable, and the delay does not affect the stability of the system, while in the dynamic mechanism, when the delay is less than a critical value, the two sides of the game have an evolutionary stable strategy, otherwise it is unstable, and Hopf bifurcation occurs at threshold. Finally, some numerical simulation examples are provided, and the numerical results show the correctness of the proposed algorithm.

Suggested Citation

  • Mengzhu Xu & Zixin Liu & Changjin Xu & Nengfa Wang, 2024. "Evolutionary Game Analysis of Digital Financial Enterprises and Regulators Based on Delayed Replication Dynamic Equation," Mathematics, MDPI, vol. 12(3), pages 1-18, January.
    • Handle: RePEc:gam:jmathe:v:12:y:2024:i:3:p:385-:d:1325934
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/12/3/385/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7390/12/3/385/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tan, Yiheng & Huang, Xiying & Li, Wei, 2023. "Does blockchain-based traceability system guarantee information authenticity? An evolutionary game approach," International Journal of Production Economics, Elsevier, vol. 264(C).
    2. Samuel G. Hanson & Anil K. Kashyap & Jeremy C. Stein, 2011. "A Macroprudential Approach to Financial Regulation," Journal of Economic Perspectives, American Economic Association, vol. 25(1), pages 3-28, Winter.
    3. Hu, Limi & Qiu, Xiaoling, 2022. "Stability analysis of game models with fixed and stochastic delays," Applied Mathematics and Computation, Elsevier, vol. 435(C).
    4. Hao Fu & Yue Liu & Pengfei Cheng & Sijie Cheng, 2022. "Evolutionary Game Analysis on Innovation Behavior of Digital Financial Enterprises under the Dynamic Reward and Punishment Mechanism of Government," Sustainability, MDPI, vol. 14(19), pages 1-18, October.
    5. Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-666, May.
    6. Zhou, Xi & Chen, Shou, 2021. "FinTech innovation regulation based on reputation theory with the participation of new media," Pacific-Basin Finance Journal, Elsevier, vol. 67(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liu, Siqi & Liu, Zixin, 2025. "Analysis of digital financial innovation behavior based on fractional-order evolutionary game," Chaos, Solitons & Fractals, Elsevier, vol. 192(C).
    2. Wentai Bi & Suyun Chen & Panpan Zhu & Zongze Li & Qingzi Cao, 2024. "Research on the Supervision Mechanism of Voluntary Food Safety Information Disclosure: An Evolutionary Game Analysis," SAGE Open, , vol. 14(4), pages 21582440241, November.
    3. Sen Yang & Haiyan Wang, 2024. "Evolutionary Game Analysis of Healthcare Information Construction and Sharing Decisions Considering Synergy Benefits," Mathematics, MDPI, vol. 12(17), pages 1-18, September.
    4. Xinyu Hao & Tingting Tian & Liang Dong & Christina W. Y. Wong & Kee-hung Lai, 2026. "Unmasking greenwashing in ESG disclosure: insights from evolutionary game analysis," Annals of Operations Research, Springer, vol. 356(1), pages 667-695, January.
    5. Panke Zhang & Mengtian Wang & Guoqu Deng, 2023. "Evolutionary Game Analysis of Resilient Community Construction Driven by Government Regulation and Market," Sustainability, MDPI, vol. 15(4), pages 1-19, February.
    6. Qianru Chen & Hualin Xie & Qunli Zhai, 2022. "Management Policy of Farmers’ Cultivated Land Abandonment Behavior Based on Evolutionary Game and Simulation Analysis," Land, MDPI, vol. 11(3), pages 1-23, February.
    7. Lichi Zhang & Yanyan Jiang & Junmin Wu, 2022. "Evolutionary Game Analysis of Government and Residents’ Participation in Waste Separation Based on Cumulative Prospect Theory," IJERPH, MDPI, vol. 19(21), pages 1-16, November.
    8. Gu, Tianqi & Xu, Weiping & Liang, Hua & He, Qing & Zheng, Nan, 2024. "School bus transport service strategies’ policy-making mechanism – An evolutionary game approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 182(C).
    9. Wang Mingbao & Du Zhiping & Duan Hong, 2017. "Study on Participant Behavior Game of Electronic Products Reverse Supply Chain Based on ECP," Journal of Systems Science and Information, De Gruyter, vol. 5(5), pages 411-434, October.
    10. Feinstein, Zachary, 2020. "Capital regulation under price impacts and dynamic financial contagion," European Journal of Operational Research, Elsevier, vol. 281(2), pages 449-463.
    11. Greenwood, Robin & Landier, Augustin & Thesmar, David, 2015. "Vulnerable banks," Journal of Financial Economics, Elsevier, vol. 115(3), pages 471-485.
    12. Sun, Yong & Liu, Baoyin & Sun, Zhongrui & Yang, Ruijia, 2023. "Inter-regional cooperation in the transfers of energy-intensive industry: An evolutionary game approach," Energy, Elsevier, vol. 282(C).
    13. Härdle, Wolfgang Karl & Schulz, Rainer & Xie, Taojun, 2019. "Cooling Measures and Housing Wealth: Evidence from Singapore," IRTG 1792 Discussion Papers 2019-001, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    14. Manconi, Alberto & Braggion, Fabio & Zhu, Haikun, 2018. "Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China," CEPR Discussion Papers 12668, Centre for Economic Policy Research.
    15. Jialu Li & Meiying Yang & Wei Xing & Xuan Zhao, 2018. "Information Acquisition Behavior: An Evolutionary Game Theory Perspective," Dynamic Games and Applications, Springer, vol. 8(2), pages 434-455, June.
    16. Hongxia Sun & Yao Wan & Huirong Lv, 2020. "System Dynamics Model for the Evolutionary Behaviour of Government Enterprises and Consumers in China’s New Energy Vehicle Market," Sustainability, MDPI, vol. 12(4), pages 1-21, February.
    17. Song Yang & Jincai Zhuang & Aifeng Wang & Yancai Zhang, 2019. "Evolutionary Game Analysis of Chinese Food Quality considering Effort Levels," Complexity, Hindawi, vol. 2019, pages 1-13, November.
    18. Tobias Adrian & Nellie Liang, 2018. "Monetary Policy, Financial Conditions, and Financial Stability," International Journal of Central Banking, International Journal of Central Banking, vol. 14(1), pages 73-131, January.
    19. Bergstrom, Theodore C & Stark, Oded, 1993. "How Altruism Can Prevail in an Evolutionary Environment," American Economic Review, American Economic Association, vol. 83(2), pages 149-155, May.
    20. Yinglin Wang & Leqi Chen & Jiaxin Zhuang, 2024. "Research on ESG Investment Efficiency Regulation from the Perspective of Reciprocity and Evolutionary Game," Computational Economics, Springer;Society for Computational Economics, vol. 64(3), pages 1665-1695, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:12:y:2024:i:3:p:385-:d:1325934. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.