Advances in Economics, Management and Political Sciences

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Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 2

Series Vol. 6 , 27 April 2023


Open Access | Article

Analysis of the "Prisoner's Dilemma" Model in the Application of Price-Matching Dilemma: Taking MeiTuan and Everything 30min as Example

Qiyue Chen * 1 , Yuetian Jin 2
1 Soochow University High School Sino-Canada Program, Suzhou, 215000, China
2 Soochow University High School Sino-Canada Program, Suzhou, 215000, China

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 6, 23-27
Published 27 April 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Qiyue Chen, Yuetian Jin. Analysis of the "Prisoner's Dilemma" Model in the Application of Price-Matching Dilemma: Taking MeiTuan and Everything 30min as Example. AEMPS (2023) Vol. 6: 23-27. DOI: 10.54254/2754-1169/6/20220132.

Abstract

One of the most well-known examples of game theory and a significant element of economic theory is The Prisoner's Dilemma. The Prisoner's Dilemma is one of the best instances of the conventional non-zero-sum game in game theory, which demonstrates that the group does not always represent the best option for individuals. When major brands and companies are engaged in competition, the Prisoner's Dilemma model is used to examine strategic choices and price setting. Everything 30min and MeiTuan, the two major participants in the takeaway market, would be excellent instances for using the Prisoner's Dilemma model. This paper analyzed the two companies in a similar prisoner's dilemma in the price war, how MeiTuan is a newcomer to the industry is how to break the everything 30min monopoly and enter the market with its share of the market. Finally, this paper integrated the dynamics of the price-matching war between the two big competitors with the prisoner's dilemma to come up with three suggestions. Additionally, these three suggestions can further help them out of the prisoner's dilemma like the price-matching war.

Keywords

Prisoner’s Dilemma, price-matching dilemma, game theory

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 2
ISBN (Print)
978-1-915371-23-2
ISBN (Online)
978-1-915371-24-9
Published Date
27 April 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/6/20220132
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated