On the Competitive Mechanism Concerning the Third-Party Transaction in Chinese Market
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Journal of Systems Science and Information  2020, Vol. 8 Issue (1): 33-52    DOI: 10.21078/JSSI-2020-033-20
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On the Competitive Mechanism Concerning the Third-Party Transaction in Chinese Market
Shaogang CHEN1, Xianle CHEN2, Yanfei JING1
1. School of Mathematical Sciences, University of Electronic Science and Technology of China, Chengdu 611731, China;
2. University of Nottingham, University Park Campus, Nottingham, United Kingdom NG7 2RD
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This paper seeks to position the third-party transaction (TPT) in the macrostructure of Chinese market in terms of Concentration Ratio and Herfindahl-Hirschman Index. By extending both Cournot oligopolistic and Stackelberg oligopolistic competition models, a new oligopolistic competition model is established for China's TPT market. Based on multidimensional game, a pricing game model is theorized accordingly to elucidate the TPT platform. The influence of various factors on the price of the TPT platform is verified with numerical simulation. The formation of monopoly is an inevitable consequence of the "one superpower and multi powers" market structure given the unregulated development of TPT enterprises as the prerequisite. In addition, through the studies on telecom payment market, such unregulated development can also cause the "big-three" domination for the TPT enterprises in the "multi powers" market structure. Based on our modelizations, this paper serves to provide prospect recommendations for policy-making of state supervision authorities.

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Shaogang CHEN
Xianle CHEN
Yanfei JING
Key wordsthird party transaction   market share   oligopolistic competition   multidimensional game   equilibrium outcome     
Received: 2018-11-06;
About author: Shaogang CHEN,E-mail:csg1966@163.com;Xianle CHEN,E-mail:chenxianle1995@163.com;Yanfei JING,E-mail:yanfeijing@uestc.edu.cn
Cite this article:   
Shaogang CHEN,Xianle CHEN,Yanfei JING. On the Competitive Mechanism Concerning the Third-Party Transaction in Chinese Market[J]. Journal of Systems Science and Information, 2020, 8(1): 33-52.
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