Table 1 Model parameters and implications
Agents of the game | Model parameters | Meaning of parameters |
|---|---|---|
Government | \(M_{g1}\) | The cost of strict government regulation |
\(M_{g2}\) | The cost of relaxed government regulation \(\left( {{M_{g1}} > {M_{g2}}} \right)\) | |
\(S_{g1}\) | Benefits of strict government regulation (e.g., reputation and incremental performance) | |
\(S_{g2}\) | Some reputational damage, loss of governance, and loss of trust when the government relaxes regulations of smart senior care technology service providers | |
Smart senior care technology service provider | \(M_{c1}\) | The cost of being trustworthy for smart senior care technology providers |
\(M_{c2}\) | The cost of a breach of trust for smart senior care technology providers \(\left( {{M_{c1}} > {M_{c2}}} \right)\) | |
\(N_c\) | Government strictly regulates rewards for the trustworthiness of smart senior care technology providers | |
\(B_c\) | Government provides subsidies for smart senior care technology service providers | |
\(Sc\) | The brand effect and reputation gained by the trustworthiness of the smart senior care technology service provider when older adults use its services | |
\(c\) | Additional benefits received by smart senior care technology service providers in the event of a breach of trust | |
\(L_{c1}\) | Strict government regulation imposes fines on smart senior care technology service providers for a breach of trust | |
\(L_{c2}\) | Smart senior care technology providers compensate older adults for a breach of trust | |
Older adults | \(M_e\) | The purchase cost of smart senior care services for older adults |
\(H_{e1}\) | Older adults’ use of smart senior care services to meet their diverse needs, improve quality of life and satisfaction, and for other benefits when the smart senior care technology provider is trustworthy | |
\(H_{e2}\) | Older adults’ use of smart senior care services to meet their diverse needs, improve quality of life and satisfaction, and for other benefits when the smart senior care technology service provider breaches their trust \(\left( {{H_{e1}} > {H_{e2}}} \right)\) | |
\(N_e\) | Government rewards for older adults who actively use smart senior care services when they are strictly regulated | |
\(B_e\) | Government subsidies for older adults using smart senior care services |