投资决策中个人理性与集体理性博弈分析及对策研究

An Analysis on and the Countermeasures to the Games Between Individual and Collective Rationality in Investment Decision-making

针对近期多起曝光的企业对外投资、担保大案 ,本文应用博弈论分析方法 ,在强调个人理性与集体理性矛盾的基础上研究投资决策中两者的完全信息博弈及无限阶段重复博弈 ,并建立相应的定量分析模型 ,通过分析博弈参与人均衡行为 ,指出投资决策中寻租的存在的必然性及巨大危害 ,并针对性的提出了适合实际操作的对策建议。

In view of quite a few recently exposed major cases in foreign investment and guarantee by enterprises, with game analysis method, and with the contradiction between individual and collective rationality as the emphasis, this paper studies the games between the two in the investment decision-making, and, on this basis, establishes the corresponding quantitative analysis models. Through an analysis on the equilibrium actions of the game participants, it points out the inevitability and the perniciousness of rent-seeking actions in investment decision-making, and puts forward some practical countermeasure suggestions.