Pregled bibliografske jedinice broj: 748833
Transition game: who played the transition game and with what results
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 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
CROSBI ID: 748833 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Transition game: who played the transition game and with what results
Autori
Vidaković, Neven
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
ENTREPRENEURSHIP: ECONOMIC DEVELOPMENT & FINANCE
/ Radović-Marković, Mirjana ; Krumov, Krum ; Vujčić, Slađana - Beograd : Faculty of business economics and entrepreneurship, 2013, 17-34
ISBN
978-86-6069-094-6
Skup
EMPLOYMENT, EDUCATION AND ENTREPRENEURSHIP - EEE
Mjesto i datum
Beograd, Srbija, 16.10.2013. - 18.10.2013
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
transition; game theory; strategy; optimal path; dynamic programming
Sažetak
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.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
