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Modeling the Emergence of Value and Risk in Game Theoretical Approaches

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Advances in Enterprise Engineering XIV (EEWC 2020)

Part of the book series: Lecture Notes in Business Information Processing ((LNBIP,volume 411))

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Abstract

Game theory is largely about interactions of agents whose decisions affect each other. The combination of agents’ actions corresponds to outcomes, which may impact agents’ goals, either positively or negatively. The analysis of the probable consequences and expected utilities of all possible outcomes is fundamental to support agents when deciding whether to engage in a certain strategy. In this paper, we move in this direction by initiating the investigation of the ontological foundation of the emergence of value and risk from outcomes in game theoretical approaches. In order to understand the influence of these forces over outcomes, a precise and rigorous conceptualization, based on foundational ontologies, is needed. To this aim, we present and discuss here a preliminary ontological modeling of basic concepts of game theory, as well as the relation to value, risk and outcomes.

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Notes

  1. 1.

    A different strategy that avoids introducing future or possible events is to rephrase the model using types of actions and events, cf. [29].

  2. 2.

    This is compatible with the modeling of preferences according to UFO in [28].

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Acknowledgments

CAPES (PhD grant 88881.173022/2018-01) and NeXON project (UNIBZ).

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Authors and Affiliations

  1. Conceptual and Cognitive Modeling Research Group (CORE), Free University of Bozen-Bolzano, Bolzano, Italy

    Glenda Amaral, Tiago Prince Sales & Giancarlo Guizzardi

  2. ISTC-CNR Laboratory for Applied Ontology, Trento, Italy

    Daniele Porello

Authors
  1. Glenda Amaral
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  2. Daniele Porello
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  3. Tiago Prince Sales
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  4. Giancarlo Guizzardi
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Corresponding author

Correspondence to Glenda Amaral .

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Editors and Affiliations

  1. University of Madeira, Funchal, Portugal

    David Aveiro

  2. Free University of Bozen-Bolzano, Bozen-Bolzano, Italy

    Giancarlo Guizzardi

  3. Czech Technical University, Prague, Czech Republic

    Robert Pergl

  4. Luxembourg Institute of Science and Technology, Esch-sur-Alzette, Luxembourg

    Henderik A. Proper

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Amaral, G., Porello, D., Sales, T.P., Guizzardi, G. (2021). Modeling the Emergence of Value and Risk in Game Theoretical Approaches. In: Aveiro, D., Guizzardi, G., Pergl, R., Proper, H.A. (eds) Advances in Enterprise Engineering XIV. EEWC 2020. Lecture Notes in Business Information Processing, vol 411. Springer, Cham. https://doi.org/10.1007/978-3-030-74196-9_5

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  • DOI: https://doi.org/10.1007/978-3-030-74196-9_5

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