BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Stronka Waldemar
Zastosowanie iteracyjnego modelu dylematu więźnia do wyjaśnienia mechanizmu nadużyć księgowych w spólkach giełdowych
Application of the Iterated Prisonerʹs Dilemma Model to the Explanation of the Accounting Misuse Mechanism in Listed Companies
Zeszyty Naukowe / Akademia Ekonomiczna w Poznaniu, 2007, nr 84, s. 187-204, tab., bibliogr. 23 poz.
Spółki giełdowe, Księgowy, Nadużycia gospodarcze, Księgowość
Stock market companies, Accountant, Economic frauds, Bookkeeping
Przytoczone w artykule symulacje umożliwiają lepsze zrozumienie mechanizmów prowadzącyh do podwyzszonego wzrostu popularności nadużyć księgowych w spółkach. Wydaje się również, iż taka analiza może mieć istotne znaczenie dla inwestorów oraz instytucji regulujących - pośrednio i bezpośrednio - funkcjonowanie rynków giełdowych. (fragment tekstu)

The paper is linked with the best-known agent simulation model - the iterated prisoner's dilemma model. The classic version of the model was modified by introducing two corrections: an 'analysis cost' and a 'noise in identification'. This simple model enabled to conduct an analysis of a recent phenomenon of rapid increase in a number of 'creative accounting' practices. It seems that the analysis could have been of crucial importance for investors and institutions regulating - directly and indirectly - capital market activities. As a result of the analysis, changes in the law - such as the Sarbanes-Oxley Act - could have been made a lot earlier than after companies of Enron and WorldCom went bankrupt. From the investors' point of view, their awareness of 'creative accounting' attractiveness for executives could have influenced their investment decisions. They were able, for example, to apply an investment strategy based on identifying symptoms of 'creative accounting' in order to short-sell shares of companies suspected by them of these practices. (original abstract)
The Main Library of the Cracow University of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
  1. Axelrod R., Hamilton W. D., The evolution of cooperation, "Science" 1981, nr 212.
  2. Ayert B., Upper Ch., Werner T., Stock Market Valuation of Old and New Economy Firms, Paper prepared for the Working Group on The Financing of the New Economy of the Committee on the Global Financial System, 19bbk2.pdf.
  3. Badania operacyjne, E. Ignasiak (red.), Polskie Wydawnictwo Ekonomiczne, Warszawa 1997.
  4. Beneish M., Detecting GAAP violation: Implications for assessing earnings management among firms with extreme financial performance, "Journal of Accounting and Public Policy" 16(3).
  5. Boyd R., Lorberbaum J.M.D., No pure strategy is evolutionary stable in the iterated prisoner's dilemma game, "Nature" 1987, nr 327.
  6. Catanach A.H., Rhoades-Catanach S., Enron: A Financial Reporting Failure?, "Villanova Law Review" 2003, nr 4, vol. 48.
  7. Doebeli M., Hanert Ch., Models of cooperation based on the Prisoner's Dilemma and the Snowdrift game, "Ecology Letters" 2005, nr 8.
  8. Hill W., Prisoner's dilemma, a stochastic solution, "Mathematics Magazine" 1975, nr 48.
  9. Jamal K., Sunder S., Bayesian Equilibrium in Double Auctions Populated by Biased Heuristic Traders, "Journal of Economic Behavior and Organization" 1996, nr 31.
  10. McNamara J. M., Barta Z., Houston A.I., Variation in behaviour promotes cooperation in the Prisoner's Dilemma game, "Nature" 2004, nr 428.
  11. Newdick D., Anarchy and Game Theory,
  12. Niell D. B., Optimality under noise: higher memory strategies for the alternating prisoner's dilemma, "Journal of Theoretical Biology" 2001, nr 211.
  13. Nowak M. A., Sasaki A., Taylor C., Fudenberg D., Emergence of cooperation and evolutionarystability in finite populations, "Nature" 2004, nr 428.
  14. Nowak M. A., Siegmund K., Tit for tat in heterogenous populations, "Nature" 1992, nr 355.
  15. Philips J. D., Pincus M., Rego S. O., Earnings Management'. New Evidence based on Deferred Tax Expense, 14.X.2002,
  16. Rapaport A., Chammah A., Prisoner's Dilemma, University of Michigan Press, 1970.
  17. Richardson S.A., Iam Tuna A., Min Wu, Predicting Earnings Management-. The Case of Earnings Restatements, X.2002,
  18. Shubik M., Game theory, behavior, and the paradox of prisoner's dilemma: three solutions, "Journal of Conflict Resolution" 1970, nr 14.
  19. Shu-Heng Chen, Tzu-Wen Kuo, Towards an Agent-Based Foundation of Financial Econometrics'. An Approach Based on Genetic Programming Artificial Markets,
  20. Smith J. M., Price G. R., The logic of animal conflict, "Nature" 1973.
  21. Straffin P., Teoria gier, Wydawnictwo Scholar, Warszawa 2004.
  22. Surowiecki J., The Wisdom of Crowds, Anchor Books, New York 2005.
  23. Wahl I. M., Nowak M. A., The continuous prisoner's dilemma: II. Linear reactive strategies with noise, "Journal of Theoretical Biology" 1999, nr 200
Cited by
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu