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Transition game: who played the transition game and with what results (CROSBI ID 621522)

Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija

Vidaković, Neven Transition game: who played the transition game and with what results // ENTREPRENEURSHIP: ECONOMIC DEVELOPMENT & FINANCE / Radović-Marković, Mirjana ; Krumov, Krum ; Vujčić, Slađana (ur.). Beograd: Faculty of business economics and entrepreneurship, 2013. str. 17-34

Podaci o odgovornosti

Vidaković, Neven

engleski

Transition game: who played the transition game and with what results

This paper looks at the transition process from communist planned economy to free market economy for eleven countries in Europe and treats the whole process as a game. The process is interesting due to the fact all new countries have same goal, join EU and join EU monetary union, join NATO and thus successfully end transition. The paper perceives this process as a Bayesian game, creating a stochastic dynamic settings where policy makers analyse the policies and have the ability to change learn from their mistakes. The game is solved both analytically and theoretically. The paper does not create a computer generated estimations of the game, but looks at the real life experiment that has occurred in last 15 years in post-communist counties, an index to quantify the results of the game is created to see what were the results of each player. The main findings of the paper are that there is a considerable difference in the strategies which were chosen by each of the participants and with considerable difference in the results. What is most striking in the paper is that the game players do not have the ability to learn or to create forward expectations. Also there is little correlation between the success in the game and economic success indicating high political influence.

transition; game theory; strategy; optimal path; dynamic programming

nije evidentirano

nije evidentirano

nije evidentirano

nije evidentirano

nije evidentirano

nije evidentirano

Podaci o prilogu

17-34.

2013.

objavljeno

Podaci o matičnoj publikaciji

ENTREPRENEURSHIP: ECONOMIC DEVELOPMENT & FINANCE

Radović-Marković, Mirjana ; Krumov, Krum ; Vujčić, Slađana

Beograd: Faculty of business economics and entrepreneurship

978-86-6069-094-6

Podaci o skupu

EMPLOYMENT, EDUCATION AND ENTREPRENEURSHIP - EEE

predavanje

16.10.2013-18.10.2013

Beograd, Srbija

Povezanost rada

Ekonomija