Fuzzy Game Theory and Applications in Financing

The relationship between an original shareholder and a possible investor in financing is studied by using fuzzy game theories and methods. The results show that either the original shareholder´s share of the incremental value or the possible investor´s investment has a reasonable upper bound, an enterprise may obtain more investment if the original shareholder reduces his share of the incremental value properly, and the original shareholder tends to play a cooperative game, while the possible investor tends to play a noncooperative game if the incremental value is distributed between the two players according to the same ratio. The study discovers the two players´ relationship effectively, and the results are helpful to some real problems.