Dynamic pricing macromodels for a transition economy
type: Item
instance of: scholarly article
title: Dynamic pricing macromodels for a transition economy
zbMATH Open document ID: 0849.90031
DOI: 10.1007/BF02366519
author: V. S. Mikhalevich
author: Mikhail Mikhalevich
published in: Cybernetics and Systems Analysis
publication date: 1996-08-25T00:00:00Z
review text: Considerable experience has been accumulated with modeling of both market and centrally planned economies. However, the economic situation in Ukraine (and other CIS countries) does not fit the assumptions on which either of these economies is based. On the one hand, the rigid central controls are gone but prices (at least partially) are still not formed by the market mechanisms of supply and demand; on the other hand, production is still highly monopolized, which exacerbates shortages of products and services to consumers, and the socio-economic conditions are in general highly unstable. The absence of a market infrastructure generates specific forms of commodity and money relations which are not treated in traditional economic theories. All these necessitate a special study of the economic laws of transition, including their mathematical modeling. Hyperinflation, financial instability, and market imbalance are characteristic features of the deep economic crisis affecting the Ukrainian economy. In order to develop effective measures for overcoming these difficulties, we need to know the reasons that lead to and aggravate the crisis, and to determine the factors that must be taken consideration in the policy and practice of necessary reforms. The relevant processes are highly complex and multifaceted. They affect various spheres of activity (production, distribution, exchange) and various levels of aggregation. Their analysis therefore requires models based on methods of system analysis. In this paper, we examine a number of such models designed for the description of pricing processes under financial instability, which is a characteristic feature of a transition economy.
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 91B24
zbMATH DE Number: 907241
zbMATH Keywords: transition economy
zbMATH Keywords: financial instability
zbMATH Keywords: market imbalance
zbMATH Keywords: economic crisis
zbMATH Keywords: Ukrainian economy
zbMATH Keywords: pricing processes
MaRDI profile type: Publication
cites work: Dynamic macromodels of unstable processes in transition to a market economy
cites work: Q5508860
cites work: Q3048774
description: scientific article; zbMATH DE number 907241