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2014, Issue 2 (22). Abstracts
Psychological Games in the Theory of Choice. In this paper we give a survey of recent works on game theory devoted to modeling of decision making process under bounded rationality. An agent’s deviation from rational choice understood as maximization of gain can be caused by moral principles (religious beliefs, altruism, patriotism), emotions (envy, wrath, shame, regret, or guilt) or simply by an attempt to comply with several estimation criteria not reducible to a single one. Key words: binary preference relation, utility function, two-period choice model, set betweenness axiom, shame, regret, egoism, altruism, attraction, compromise, fallback bargaining
Observe or Violate: Intrinsic Motivation of Academic Ethics We study intrinsic motivation for university students’ compliance with the requirements of academic ethics. A theoretical model presented in the paper suggests that such motivation is predicated on students’ moral norms, on their expectations of rule compliance among their peers, and on their academic performance. We present an empirical analysis which corroborates these hypotheses and measures the strength of the above factors of ethical behavior. Empirical data are generated by an experiment held at the National Research University Higher School of Economics and at the New Economic School, whereby some exams were offered in the "take home" format. Key words: academic ethics, intrinsic and extrinsic motivation, norms, expectations; student ranking
The Spillover Effects of Quantitative Easing in the United States for Russian Economy. Macroeconometric Analysis The paper reviews recent episodes of quantitative easing in the United States and associated internal and external transmission mechanisms. On the basis of the Vector Error Correction Model (VECM) specific features of transmission for the Russian economy are revealed. The U.S. active balance monetary policy maintains oil prices at а high level, which allows Russian economy to grow at relatively high rate. However, if current economic policy in Russia unchanged, unchanged it conserves further existing model of economic growth making it unstable to external shocks and ineffective in the long-run. Thus, cancellation of the U.S. quantitative easing will cause sharp fall (severe recession) in growth rate of the Russian economy, slow recovery and only a very gradual improvement in the structure of production. Key words: quantitative easing, spillovers effects, economic policy, VECM
Overhaul Policy Optimization and Equipment Valuation Concerning Its Reliability Valuation of used machinery and equipment items and optimization of the overhaul policy are considered as interrelated problems. Non-traditional version of the discounted cash flow method is applied to their decision. The model uses available market and technical information and takes into account both the planned overhauls and the ones due to random failures. The model allows to find the dependence of the value of equipment item on its age and working time in the current overhaul interval and also operatively to make a well-grounded choice between overhaul and decommissioning of an item. Key words: machinery, equipment, value, valuation, best use, reliability, failure, overhaul, overhaul interval, management, discounted cash flow method
Influence of Social Capital of Community Associations on the Urban Development The article is devoted to the study of such form of individuals' associations at their residence, as a territorial public self-government, which is one of the sources of social capital formation. On the basis of the data from the "Kirov City" municipality the author presented the impact of social capital on human capital. The effectiveness of interaction between associations of territorial public self-government and bodies of municipal authorities is analyzed. Key words: territorial self-government, social capital, human capital, local government, urban development
Evolution of State Industrial Policy in Russia The paper describes the evolution in 1990-s and 2000-s of approaches of Russian state towards industrial policy, which is understood as a policy facilitating structural changes in the economy. The mentioned evolution took place simultaneously with the development of theoretical paradigms of industrial policy in the economic literature both in Russia and in the World, and with extensive use of different instruments of industrial policy as well. Authors aim to analyze and summarize the Russian experiences in applying different instruments of industrial policy and to discuss the reasons for success and failures of those experiments. The paper formulates some lessons to be drawn from the extensive Russian experience that may improve the efficiency of such a policy, and puts some question for the discussion on the industrial policy issue. Key words: horizontal and vertical industrial policy, diversification of economy, instruments for structural changes, quality of institutes
Industrial Policy Industrial policy’s content and peculiarities as target-oriented activity of state and economic agents for achieving economic and technological goals are reviewed. Comparative analysis of the Russian and Japanese industrial policy is described. Key words: competitiveness, development goals, technological break, dynamics
Industrial Policy – How to Choose Industries that Should Be Supported Sometimes industrial police is a success story, but sometimes it is a total failure. It seems like the best results are achieved in countries that (1) support industries oriented not only towards import substitution, but also towards export, at least in the longer run, and (2) support not all exports, but only exports of products that are associated with greatest externalities, emerging when returns for the whole society are larger than returns for particular exporting companies. As a rule, these are secondary manufacturing and high-tech industries. The ways to select industries that should be supported are discussed in the paper. Key words: industrial policy, industrial structure, import substitutions, export orientation, diversification of exports
Industrial Policy: Recipes or Institutions? The realization of investments into the long-run growth rate of GDP requires the institutions of industrial policy, which would ensure search and implementation of its effective recipes. Such institutions and recipes are discussed in the article. Principles of effective governance for non-removable authority are formulated, which follow from the Chalmers Johnson’s theory of developmental state. Key words: catching-up development, non-removability of the authority, developmental state, regulatory state, interactive planning, regional development agencies
Forming of High-Technology Sector in the Industrial Region This article deals with the problems of formation and development of high-tech sector in the world, Russia and its regions. Opportunities and limits for formation of modern high-tech mode in industrial region are reviewed. Practical realizations of innovation resonance methodology in the Middle Urals are given. Key words: high-technology sector, industrial region, innovation resonance, new industrialization
About Industrial Policy Guidelines Industrial policy should vary with the specific conditions of the various phases of a long wave of economic development. At considerable lag from world technological leaders the economy can get to "a structural trap". To escape this trap, the active state economic policy has to be based on the combined strategy of development providing synergy effect from modernization of lagging behind branches and formation of new productions. Effectiveness of industrial policy largely depends on the extent to which it relies on the exchange of information between government and business, on the one hand, and between firms, on the other. Key words: industrial policy, strategic planning, coordination, innovations, long waves
Industrial and Competition Policy: from Theory to Practice of Interaction Working definitions of industrial and competition policy are provided. Based on definition variants of relations of two directions of economic policy have been described. Approaches to building industrial policy have been formulated within the framework of studies based on principles adopted in the New Institutional Economics and with taking into account empirical researches of industrial policy results. Key words: industrial policy, competition, competition policy, the new institutional economic, austrian economics, resources endowments Back | ||
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