Proceedings of the 2017 2nd International Conference on Education, Management Science and Economics (ICEMSE 2017)

Game Theory Analysis about the Red Packet Money

Authors
Rui Bai, Weiyu Pan, Chao Li
Corresponding Author
Rui Bai
Available Online December 2017.
DOI
https://doi.org/10.2991/icemse-17.2017.67How to use a DOI?
Keywords
Red packet, Game theory, Prisoners' dilemma
Abstract
The red packet money is a topic of great concern in recent years. It originated in the late Ming Dynasty and early Qing Dynasty and became extravagant in the late Qing dynasty and the Republic of China. It is hard to say that this kind of money at present is an authentic traditional custom. However, it is a rising part in every person's spending. This paper applies simple game analysis, finding that the emergence and development of the red packet money obviously have the characteristics of so-called the Prisoners' Dilemma. It is difficult for rational people in the market economy to make decisions to set a reasonable standard through their own adjustments. The prevalence of red packet is usually accompanied by extravagant rituals that are not commensurate with the actual economic level. In order to solve this problem, we need corresponding government guidance.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Rui Bai
AU  - Weiyu Pan
AU  - Chao Li
PY  - 2017/12
DA  - 2017/12
TI  - Game Theory Analysis about the Red Packet Money
BT  - Proceedings of the 2017 2nd International Conference on Education, Management Science and Economics (ICEMSE 2017)
PB  - Atlantis Press
SP  - 276
EP  - 278
SN  - 2352-5428
UR  - https://doi.org/10.2991/icemse-17.2017.67
DO  - https://doi.org/10.2991/icemse-17.2017.67
ID  - Bai2017/12
ER  -