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3.0 Conclusion
The rapid development of China's high-speed rail has brought great impact to Chinese industry companies represented by China Southern Airlines. According to the analysis of game theory, high-speed rail has reason to adopt price reduction strategy to participate in market competition, because it can bring more market share and benefits to them. At the same time, according to further analysis of game theory, it can be seen that in order to obtain more market share and benefits, high-speed rail and aviation companies have reason to conduct multiple and repeated price wars and launch malicious competition. From the perspective of game theory, the price war may be beneficial to a enterprise itself in the short term, but in the long run, the price war will ultimately damage the overall interests, that is, it is pointed out by the game theory that when each individual is seeking to maximize benefits, the overall interests are not optimal or even the worst, that is, non-cooperative games can only reach Pareto suboptimal. If they can find a balanced price, it may help to ease the price war between high-speed rail and aviation, because under the equilibrium price conditions, the other party can neither raise the price, otherwise it will further lose the market; nor can it lower the price, because there will be a loss.
Judging from the current actual situation, the average fare of China Southern Airlines is 675 yuan, and the average fare of high-speed rail is 518.5. After calculation, the actual price difference between the two is 156.5 yuan. The equilibrium price of China Southern Airlines is 610 yuan, and the equilibrium price of high-speed rail fares is 482 yuan. The difference between the two equilibrium prices is 128 yuan. It shows that the current price of China Southern Airlines needs to be reduced, and it needs to be reduced to around 638 yuan. That is, as long as the actual average price of China Southern Airlines can maintain the difference of 128 of the actual average price of the high-speed rail, they can achieve the Nash equilibrium status. Of course, in order to avoid the vicious price war with high-speed rail, China Southern Airlines need to improve their services, frequent flyer programs, and cooperation with high-speed rail.
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