The Big-Bang Strategy and Non-Rational Behavior in the Russian Transitional Economy in the 1990s
The paper offers the following hypothesis: the Big Band (Shock Therapy) strategy of the 1990s in Russia has led to more non-rational behavior of the ordinary Russian people. The point is that in order to make completely rational decisions a person needs avoid both lack of information and information overload. Radical “transition to the market system” by means of the Big Bang strategy had reinforced both these obstacles to rational behavior. On the one hand, radical reforms had increased uncertainty. On the other hand, due to these reforms ordinary Russian people faced with big amount of information which was complex for perception, first of all, on goods and financial markets. The contemporary social, political and economic problems of Russia are concerned, in particular, with low degree of rationality of many its citizens. Roots of it are, among others, in the Big Bang strategy of the 1990s.
Into the Red explores the emergence of a credit card market in post-Soviet Russia during the formative period from 1988 to 2007. In her analysis, Alya Guseva locates the dynamics of market building in the social structure, specifically the creative use of social networks. Until now, network scholars have overlooked the role that networks play in facilitating exchange in mass markets because they have exclusively focused on firm-to-firm or person-to-person ties. Into the Reddemonstrates how networks that combine individuals and organizations help to build markets for mass consumption. The book is situated on the cutting edge of emerging interdisciplinary research, linking multiple layers of analysis with institutional evolution. Using an intricate framework, Guseva chronicles both the creation of a credit card market and the making of a mass consumer. These processes are placed in the context of the ongoing restructuring in postcommunist Russia and the expansion of Western markets and ideologies through the rest of the world.
The main linking idea of the monograph is the heterodox approach to disclosing a problem of methodology of economic research, the evolutionary theory of capital, institutional economic theory. Readers are invited to apply research and development in the field of evolutionary and institutional economics, as well as system analysis. The authors hope that this monograph will start subsequent collective work of Russian heterodox economists.
Supply chain management is rather new scientific field that reflects the concept of integrated business planning. This concept should be experts and practitioners in logistics and strategic management. Today, integrated planning to become a reality thanks to the development of information technology and computer technology. At the same time to achieve a competitive advantage is not enough high-speed, low-cost data transfer process. In order to effectively apply information technology tools necessary to develop a quantitative analysis of the effectiveness of supply chain management. The mam element of this tool are optimization models that reveal the complex interactions, the wave and the synergies that arise in supply chain management. In this article we consider one of the classes of such models - the so-called dynamic models of conveyor systems, processing of applications.
The world is changing rapidly. The novelty, variability, uncertainty of the future – have become the norm of life. Internal motivation, initiative, self-regulation become important vital qualities. The development of not only cognition, but also meta-knowledge becomes the norm of educational practice. It is important that education in this situation develops subjectivity and the ability to preadaptation. At the same time, it is important that the practice of education develops on the basis of psychological research. A review of existing studies is given and planned experimental studies in this direction are described.
Uncertainty is a concept associated with data acquisition and analysis, usually appearing in the form of noise or measure error, often due to some technological constraint. In supervised learning, uncertainty affects classification accuracy and yields low quality solutions. For this reason, it is essential to develop machine learning algorithms able to handle efficiently data with imprecision. In this paper we study this problem from a robust optimization perspective. We consider a supervised learning algorithm based on generalized eigenvalues and we provide a robust counterpart formulation and solution in case of ellipsoidal uncertainty sets. We demonstrate the performance of the proposed robust scheme on artificial and benchmark datasets from University of California Irvine (UCI) machine learning repository and we compare results against a robust implementation of Support Vector Machines.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.