Transition game: who played the transition game and with what results (CROSBI ID 621522)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
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
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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