Business entities decision-making on interaction in the oil and gas chemical complex

This paper presents a brief description of the results of a study examining the interactions between business entities in the oil and gas chemical complex. Current business activities in the industry require the diversification of various forms of relationships, both among themselves and with a wide range of related entities. The aim of this study was to understand the problems and model the decision-making processes of business entities regarding interactions within the oil and gas chemical complex. In examining the interactions between business entities in the oil and gas chemical complex, methods such as observation, analysis, synthesis, generalization, systematization, and hypotheticaldeductive reasoning were used. Furthermore, the study utilized methodological tools from game theory and economic-mathematical modeling. The theoretical basis for this study is the work of Russian and international scholars and specialists in the field of the functioning and interaction of business entities and the economic development of the oil and gas chemical complex. Based on elements of game theory, this study resulted in the development of a conceptual economic and mathematical model for decision-making regarding interactions between business entities in the oil and gas chemical complex. A description is provided of the specifics of selecting a typical model for interaction between industry-specific business entities when modeling their decision-making using the Nash equilibrium concept. The proposed model for decision-making regarding interactions can be applied to analyzing and evaluating relationships between industry-specific business entities and predicting their behavior relative to each other, taking into account economic, social, and environmental aspects. The cause-and-effect relationships described in the paper should be considered when formulating policies regulating the functioning and development of the oil and gas chemical complex.