scholarly journals ECONOMIC NETWORKS: WHAT DO WE KNOW AND WHAT DO WE NEED TO KNOW?

2009 ◽  
Vol 12 (04n05) ◽  
pp. 407-422 ◽  
Author(s):  
FRANK SCHWEITZER ◽  
GIORGIO FAGIOLO ◽  
DIDIER SORNETTE ◽  
FERNANDO VEGA-REDONDO ◽  
DOUGLAS R. WHITE
Keyword(s):  
Economic Activity ◽  
Economic Systems ◽  
Interaction Patterns ◽  
Economic Networks ◽  
Political Boundaries ◽  
Modern Economic ◽  
As Graph ◽  
Scientific Challenge ◽  
Analytical Tools ◽  
Shed Light

We examine the emergent field of economic networks and explore its ability to shed light on the global and volatile economy where credit, ownership, innovation, investment, and virtually every other economic activity is carried at a scale and scope that respects no geographical, organizational, or political boundaries. In this context, the study of economic networks and their dynamics must reflect the vast complexity of the interaction patterns and integrate it with a realistic account of the incentives and information that govern agents' behavior. The interplay of both has been shown to produce metastabilities, system crashes, and emergent structures in ways that are yet only poorly understood. Meeting this exciting scientific challenge requires a combination of time-series analysis, complexity theory, and simulation with the analytical tools that have been developed by game theory, as well as graph and matrix theories. We argue that this will help achieving a better integration of theory and data models and provide a better understanding of the potentials and risks of modern economic systems.

scholarly journals INSTITUTIONAL CONDITIONALITY OF DEVELOPMENT OF SOVREMEN-NYH OF ECONOMIC SYSTEMS

2017 ◽  
pp. 33-42
Author(s):  
Y. V. Babayan
Keyword(s):  
Economic Activity ◽  
External Environment ◽  
Economic Systems ◽  
Economic Science ◽  
Ideal Model ◽  
Market Mechanisms ◽  
Market Structures ◽  
Modern Economic ◽  
Complete Optimization ◽  
Stimulation Of

Approaches of the institutional theory to differences between hierarchical and market mechanisms of economic interactions are researched. affirms that modern evolution leads to deleting of borders between these two forms and to their mutual interlacing. The research of the fundamental principles of organizational forms and coordination of economic activity as in each of two main forms of cooperation of economic actors - the organization (hierarchy) and the market, and between them is one of basic elements of modern economic science. With respect thereto there is a question of basic differences between them, their borders and forms of interactions. the existing universal typology not absolutely precisely reflects reality. The entities aren’t capable to perform complete optimization of transactional expenses because of complexity and the uncertainty of the environment, and also owing to limited rationality making the decision. Therefore the choice of this or that organizational “ideal model" is utopian as borders of the entities don’t give in to a limitation in connection with variety of the purposes, interdependence of actions of other economic actors as components of the external environment. The state stimulation of these or those links of economic system shall be aimed at the development not of the separate entities, but market structures in general into which they enter only as components.

Riflessioni sulle economie dei secoli X e XI

2018 ◽  
Author(s):  
Alessandra Molinari
Keyword(s):  
Middle Ages ◽  
Tenth Century ◽  
Pottery Production ◽  
Economic Networks ◽  
Local Exchange ◽  
Archaeological Evidence ◽  
Social Transformations ◽  
New Information ◽  
Recent Conference ◽  
Modern Economic

Chris Wickham has recently turned his attention to the economic and social transformations of the central Middle Ages. In the same period relations between the Christian and Muslim worlds have been presented primarily in terms of holy war or raids, and hardly ever framed in economic terms. Archaeology can help to answer questions about exchange routes, systems of production and settlement patterns, and pottery provides a key element in reconstructing the complexity of pre-modern economic networks. In this paper I want to compare two case studies. I will first examine the role of Palermo in the internal economy of Sicily and beyond. Recent excavations have provided much new information on the Muslim and Christian periods in its history, and particularly on the city’s planned growth and development as a centre of pottery production and export in the tenth century. I will then turn to the archaeological evidence for Rome, which Chris has described as the most complex city between the tenth and twelfth centuries, both economically and socially, in the whole Italian peninsula. In fact, based on the material evidence, Rome was far less complex than Palermo, and unlike Milan, it failed to take off economically in the thirteenth century. Chris has suggested that the success of the latter city was due to its specialized products, local exchange system and connections with a hierarchy of smaller settlements in the locality. Whilst the archaeological evidence for Milan is much scarcer, these features can usefully be tested as a model against which to compare other cities. Comparing Rome and Palermo it is the Sicilian city that can be said to have had the more vibrant economy, with its exports to multiple rural centres some distance away. Whilst a recent conference has underlined the existence of specialized artisans serving Rome’s elite and its numerous pilgrims, unlike Palermo it did not base its economy on production and mercantile activities.

scholarly journals INNOVATIONS IN PLANNING BASED ON THE MARGINAL APPROACH CONCEPT

2018 ◽  
Vol 2018 (5) ◽  
pp. 23-34
Author(s):  
Oliver ORLOV ◽  
Keyword(s):  
Life Cycle ◽  
New Products ◽  
Theory And Practice ◽  
Practical Significance ◽  
Fixed Costs ◽  
Product Pricing ◽  
Upper Limits ◽  
Modern Economic ◽  
Break Even Point ◽  
Analytical Tools

In modern economic theory and practice, there is a whole range of problems, where the lack of analytical tools does not allow adequately measuring the expected results. A number of hypotheses are presented; proofs of these hypotheses show that a set of important economic problems (planning of cost production, profit, break-even point by product, pricing for new products and evaluation of effectiveness of inno-vation projects) do not meet an appropriate solution because of the lack of analytical tools. As an alternative, solutions of these problems based on the marginal approach concept are proposed. Distribution of fixed costs between types of products (proposed in accordance with the concept of marginal approach) is inherently a covering of fixed costs by marginal profit and formation on this basis of profit and profitableness both by the types of products and by enterprise as a whole. The concept of the marginal approach was also used to solve the problems of pricing on new products of industrial and technical purpose, which allowed forming the lower and upper limits of prices on an anti-costly basis. Methods for evaluating the effectiveness of innovative projects, which are pre-sented in economic literature and practice from the second half of the 20th century, are reduced to comparing investments with magnitude of profit from sale of an in-novative product during its life cycle. It is proposed to compare investments with the marginal profit received by the enterprise from a new product during its life cycle (of course, taking into account discounting). The results obtained have theoretical value, since they allow new ways to form cost price, profit and profitableness by product types, offer an anti-costly approach to pricing with provision of appropriate tools, as well as evaluation of effectiveness of innovation projects. And a practical significance of these results is to create ap-propriate conditions for a flexible cost management, profits and prices, which is es-pecially important for a rapidly changing market conditions.

scholarly journals ECONOMIC INSTITUTIONS - ANCHOR OR TOWBOAT FOR ECONOMY?

2016 ◽  
Vol 2016 (3) ◽  
pp. 270-276 ◽  
Author(s):  
Владимир Евенко ◽  
Vladimir Evenko ◽  
Вадим Солдатенков ◽  
Vadim Soldatenkov
Keyword(s):  
National Economy ◽  
Economic Systems ◽  
Equal Rights ◽  
State Sector ◽  
Industrial Enterprises ◽  
Social Interests ◽  
Institu Tions ◽  
Modern Economic ◽  
Advanced Development

Modern economic institutes, in particular, insti-tutes of stateprivate partnership and insolvency and their influence upon ensuring a stable qualitative de-velopment of national economy are under consideration. Institutes come out as fundamental factors of functioning economic systems in long-term and me-dium-term prospects. Market forces cannot function efficiently in inadequate and uncontrollable environ-ment inasmuch as the operation of such forces is contradictory and frequently couterproductive. Under a stateprivate partnership is understood a system of relations between a state sector (state or municipal authorities) and a private sector (business) legally and institutionally secured with the purpose of the development of socially and strategically meaningful branches of national economy to protect social interests and to increase competitiveness of industrial enterprises at the heart of which underlying principles of equal rights, rational partnership, distribution of risks and proceeds, joint operations of state and private sectors. The institution of insolvency (bankruptcy) is one of the most complicated institutions of market (mixed) economy as it combines in itself the compo-nents of cost-effectiveness and social trend. Russia must have effective economic institu-tions including those of state-private partnership and insolvency (bankruptcy) for the transition from a model of an overtaking growth to the model of advanced development.

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