摘要
首先模拟了风险投资退出市场中社会网络的形成机理和演化过程,刻画了外部投资者的私人信息在该社会网络中的传递和交互;然后考虑存在群体局部交互博弈时外部投资者对股权的评价及报价策略的动态演进;最后建立了包含社会网络演化及网络群体局部动态博弈的股权关联价值拍卖模型,并进行了仿真分析。
This paper first simulates the formation mechanism and evolution process of social network in venture capital exit market, and depicts the delivery and interaction of outside investors＇ private information in social network. Then it analyzes the dynamic evolution of outside inves tots＇ evaluation and bidding strategy in the condition of local interaction game in groups. Finally,it establishes an equity affiliated-value auction model that includes the local dynamic game in groups and the evolution of social network,and makes a simulation analysis.
出处
《技术经济》
CSSCI
2014年第2期21-27,共7页
Journal of Technology Economics
基金
国家自然科学基金项目"基于认知心理学与随机微分博弈的多主体复杂交互组合拍卖机制研究"(71371147)
国家自然科学基金项目"基于演化博弈与多主体仿真的风险投资股权拍卖机制研究"(71071120)
关键词
风险投资退出
关联价值
股权拍卖
社会网络
venture capital exit
affiliated-value
equity auction
social network
