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Chinese Journal of Management Science ›› 2021, Vol. 29 ›› Issue (8): 116-125.doi: 10.16381/j.cnki.issn1003-207x.2019.0378

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Study on Evolution Game of Enterprise R&D Project Investment Path in Consideration of Decision Maker's Expectation

WANG Chao-fa, CAI Xin, YANG De-lin   

  1. 1. School of Economics and Management, Xidian University, Xi'an 710126, China;
    2. School of Economics, Shenzhen University, Shenzhen 518060, China;
    3. School of Economics and Management, Tsinghua University, Beijing 100084, China
  • Received:2019-03-19 Revised:2019-06-24 Online:2021-08-20 Published:2021-08-13

Abstract: The path choice behavior of enterprises in the investment of R&D projects is affected by the decision-maker's expectation. Based on the analysis of the investment path of R&D project and decision-maker's expectation, the enterprises are divided into state-owned enterprises and private enterprises according to the political relevance, and an evolutionary game model of the investment path considering decision-maker's expectation is built. The results show that whether private enterprises choose the optimal path affects the evolutionary equilibrium; For private enterprises, the difference of initial investment has exactly the same influence on the probability of choosing the optimal path. The number of optimistic decision-makers, the group size, the difference of decision-makers' expectation and the difference of initial investment have different effects on the probability of choosing the optimal path of the two types of firms. The main factors that influence the path choice of state-owned enterprises and private enterprises are the number of optimistic decision-makers, the difference of expectations and the difference of initial investment. The above conclusions are helpful for enterprises and governments to implement management strategies better.

Key words: decision maker’s expectations, R&D projects, investment path, evolutionary game

CLC Number: