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Archive
Volume 2 № 3
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Pavel Luksha
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КОНСТРУИРОВАНИЕ НИШИ: ПЕРЕСМОТР МОДЕЛЕЙ ВЗАИМОДЕЙСТВИЯ ФИРМЫ И ОКРУЖАЮЩЕЙ СРЕДЫ
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Article title
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КОНСТРУИРОВАНИЕ НИШИ: ПЕРЕСМОТР МОДЕЛЕЙ ВЗАИМОДЕЙСТВИЯ ФИРМЫ И ОКРУЖАЮЩЕЙ СРЕДЫ
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Authors
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Pavel Luksha
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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D21; D23; L20
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Abstract
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This paper considerates the different theoretical models and classification types of interaction firm and its environment, with the concrete proposals for modification these models. Also, it explains possibilities construction niche of interaction firm-environment.
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Key words
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firm, organization, environment, strategy
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Literature
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is not available
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Ljubomir Madžar
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A CONSTITUTION AS A LANDMARK OF MODERN HISTORY
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Article title
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A CONSTITUTION AS A LANDMARK OF MODERN HISTORY
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Authors
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Ljubomir Madžar
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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K00, N41
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Abstract
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The paper is written on the occasion of the newly published The Heritage
Guide to the Constitution (of the United States). The book is seen as a truly informative and enlightening source on the wide spectrum of the features of this first and in many respects the most prominent among the modern constitutions. The key characteristic, permeating the entire text of this epochal document and unifying it into a coherent, indivisible whole, is the emphasis on liberty on various levels of social organization and in all segments of the legal system. The universally adhered to principle of
decemtralization is seen as a major avenue of operationalizing the freedom as the key value and as an organizational tenet underlying the totality of the legal system. This principle is identified in the too main political relations which appear to be the chief area to be regulated by the legal system. The first relation is implemented by the provisions according to which the authority of the institutions at the federal level consists only of prerogatives which are explicitely assigned to them by the Constitution; whatever is not mentioned in the constitutional
provisions is understood to belong to the states. The same pattern is recognizable in the legal ordering of the second relation which is even more socially important - that between the free individuals and the state. The state can perform only the functions which are explicitely provided
for by relevant legal documents and the citizens are free to undertake whatever is not prohibited by the Constitution and the laws emanating therefrom. Such ramparts to individual freedom as Habeas Corpus, The Bill of Attainder and the prohibition of the enacting of the ex post facto laws are discussed to some length. The set of provisions regulating business and financial relations - particularly the obligation of contract, the bankruptsy clauses, the regulation of the foreign trade and the trade among the states - constitute another wide area which is seen as an important segment of the Constitution and is discussed to some length in the paper. The third wide area discussed in the paper are financial constraints set upon the federal authorities and the strict discipline imposed on the executive branch when it comes down to spending the taxpayers' money. Taken in its totality, the Constitution is, among other, seen as an impressive piece of legal engineering, an unsurpassed instance of shaping the very foundations of the legal system. It is a paradox of sorts that such a brilliant piece of legislation is literally the oldest among all the constitutions of the modern age.
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Key words
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constitution, freedom, government, ownership, decentralization, financial
discipline.
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Literature
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Buchanan, James M. and Gordon Tullock
(2001/1962/), The Calculus of Consent, Ann
Arbor: University of Michigen Press.
Hayek Friedrich A. (1998/1960/), Poredak
slobode, Novi Sad: Global Book.
Horvat, Branko (1984/1982/), Politička ekonomija
socijalizma, Zagreb: Globus.
Marković, Ratko (1998), Ustavno pravo i političke
institucije, Beograd: "Službeni glasnik"
sa p.o.
Meese, Edwin III, Matthew Spalding and
David Forte, members of the Editorial Advisory
Board (2005), The Heritage Guide to the
Constitution, Washington DC: The Heritage
Foundation.
Milanović, Branko (2005), Worlds Apart,
Princeton and Oxford: Princeton University
Press.
Shelling, Thomas (1980/1960/), The Strategy
of Conflict, Cambridge, Mass.: Harvard
University.
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Evgenij Popov
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THEORY OF EVOLUTION IN THE MINI-ECONOMICS INSTITUTIONS
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Article title
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THEORY OF EVOLUTION IN THE MINI-ECONOMICS INSTITUTIONS
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Authors
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Evgenij Popov
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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D02
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Abstract
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The classification of economic institutes at a minimum level of managing
demon-strates evolutionary character of development of known now minieconomic institutes. The analysis of biotic cycles of minieconomic institutes predetermines nonuniformity of dynamic development of an institutional structure of the economic system. The outcomes of the carried out empirical research have confirmed a hypothesis about polydynamic development of institutional levels in the system - integrated model of the firm. The graphics dependences of evolution of a number of minieconomic institutes are detected.
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Key words
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institutions, evolution development, economics of knowledge
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Literature
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Абалкин Л.И. Эволюционная экономика в
системе переосмысления базовых основ об-
ществоведения /Эволюционная экономика и
«мэйнстрим». М.: Наука, 2000. С. 7-14.
Клейнер Г.Б. Системная парадигма и теория
предприятия //Вопросы экономики. 2002. №
10. С. 47-69.
_________ Наноэкономика //Вопросы
экономики. 2004. № 12. С. 70-93. (а)
_________ Эволюция институциональ-
ных систем. М.: Наука, 2004. 240с. (б)
Львов Д.С. Управление научно-техничес-
ким развитием //Проблемы теории и прак-
тики управления. 2004. № 3. С. 63-67.
Маевский В.И. О взаимоотношениях эво-
люционной теории и ортодоксии //Вопро-
сы экономики. 2003. № 11. С.4-14.
Макаров В.Л. Экономика знаний: уроки
для России //Вестник РАН. 2003. Т. 73. № 5.
С. 450-456. (а)
__________ Исчисление институтов //
Пленарные доклады Всероссийского симпо-
зиума по экономической теории. Екатерин-
бург: ИЭ УрО РАН, 2003. С.8-20. (б)
Нестеренко А.Н. Экономика и институциональ-
ная теория. М.: Эдиториал УРСС, 2002. 445 с.
Нуреев Р.М. Теория общественного выбо-
ра. М.: Изд. дом ГУ-ВШЭ, 2005. 531 с.
Полтерович В.М. Трансплантация эконо-
мических институтов //Экономическая
наука современной России. 2001. № 3.
С. 24-51.
Попов Е.В. Миниэкономика – приоритет-
ное направление исследований //Вестник
РАН. 2004. Т. 74. № 9. С. 806-812.
________ Институты миниэкономики. М.:
Экономика, 2005. 638 с.
Попов Е.В., Кац И.С. Управление инфор-
мационными ресурсами предприятий //Рес-
труктуризация регионального промышлен-
ного комплекса. Т.1. М.: Экономика, 2005. С.
662-673.
Попов Е.В., Симонова В.Л. Эндогенный оп-
портунизм в теории «принципала-агента» //
Вопросы экономики. 2005. № 3. С. 118-130.
Попов Е.В., Татаркин А.И. Миниэкономика.
М.: Наука, 2003. 487 с.
Попов Е.В., Хмелькова Н.В. Организаци-
онные рутины предприятия //Проблемы
теории и практки управления. 2004. № 6. С.
55-62.
Уильямсон О. Экономические институты
капитализма: фирмы, рынки, отношенческая
контрактация. СПб.: Лениздат, 1996. 450 с.
Фавро О. Экономика организаций //Воп-
росы экономики. 2000. № 5. С. 5-20.
Ben-Shoham A., Serrano R. and Volij O. The
Evolution of Exchange //Journal of Economic
Theory, 2004, Vol.114, pp. 310-328.
Chakraborty Sh. Endogenous Lifetime and
Economic Growth //Journal of Economic
Theory, 2004, Vol. 116, pp. 119-137.
Francois P. and Lloyd-Ellis H. Animal Spirits
through Creative Destruction//American
Economic Review, 2003, Vol. 93, P. 530-550.
Heller D. An Evolutionary Approach to
Learning in a Changing Environment //Journal
of Economic Theory, 2004, Vol. 114, P. 31-55.
Hodgson J. The Evolution of Institutional
Economics: Agents, Structure and Darwinism in
American Institutionalism, London: Routledge,
2004. 454 p.
Nelson R.R., Winter S.G. An Evolutionary
Theory of Economic Change. Cambridge:
Harvard University Press, 1982. 536 p.
Popov E.V. Minieconomics as a Separate
Part of Microeconomics //Atlantic Economic
Journal. 2005. Vol. 32. No. 1. P. 133-134.
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Veselin Drašković, Radislav Jovović
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GLOBALIZATION IN ECONOMICS CONTECTS
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Article title
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GLOBALIZATION IN ECONOMICS CONTECTS
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Authors
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Veselin Drašković, Radislav Jovović
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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F02
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Abstract
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In this paper we have tried to explain the essence of economics globalization as qualitative and higher stadium of internationalization of economic life and mega trends dominant to the world development, which generally can results: in openness and liberalization of economies, in forming global financial, and other markets, and sub national economics bridges, which technological base has been
formed by the global information-communication net wares, and organizational base has bee created by strategic alliances, and virtual firms. Authors emphasize priority of economic impulses and motives of globalization as the contemporaneous development process of the human society and as conglomerates of other interests (political, social, cultural, and other) and its objective, and continues nature.
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Key words
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globalization, information, postindustrial civilizations.
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Literature
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Afanasjev, M. i Mjasnikova, L. (2005), "Mirovaja
konkurencija i klasterizacija ekonomiki",
Voprosi ekonomiki No 4, ss. 75-87.
Burnes, B. (1994), Managing Change, London:
Pitman Publishing.
Clark, D. (1985), Post-Industrial America: a
Geografical perspective, New York-London.
Drašković, Veselin (2002), Kontrasti globalizacije,
Beograd-Kotor: Ekonomika i Fakultet
za pomorstvo.
______________ (2005), "Mrežno povezivanje
kao nova paradigma strategijskog upravljanja
poslovnim procesima", Strategijski menadžment
br. 1-2, ss. 55-58.
Drucker, P. F. (1999), Management Challenges
for the 21st Century, New York: Harper
Business.
Elson, K. T. et al. (1995), Voluntary Organizations:
Citizen-ship, Learning and Change,
Nottnham.
Errou, K. (1995), Informacija i ekonomičeskoje
povedenije«, Voprosi ekonomiki No. 5, ss.
95-103.
Foreign Affairs No 4/1986.
Gleave, D. et al. (1985), The impact of New
Technology on the Labour Market and Demands
for Information Services, London.
Goddard, J. (1997), »The Architecture of
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Harvey, David (1994), »Prostor i moć«, Ekonomika
br. 4-6, ss. 72-80.
Inozemcev, Vladislav (2000), »Paradoksi
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i meždunarodnije otnošenija No 3, ss.
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Crne Gore u procesu globalizacije", Preduzetnička
ekonomija br. 10, ss.
Landes, D. (1983), Revolution in Time:
Clock and the Making of the Modern World,
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Končar, Jelena (1999), "Elektronsko poslovanje
u trovinskom preduzeću", Anali Ekonomskog
fakulteta u Subotici br. 4, ss. 293-300.
Meljancev, V. (2001), "Informacionaja revoljucija
- fenomen novoj ekonomiki", Mirovaja
ekonomika i meždunarodnie otnošenija No 2,
ss. 3-10.
OECD 1996, Quarterly Labour Force Statistics
No 1.
Peru, Fransoa (1986), Za filozofiju novog
razvoja, Beograd: Matica srpska, Evropski centar
za mir i razvoj i Cecos.
Pokrajčić, Dragana (2001), »Multinacionalno
i globalno preduzeće«, Ekonomika preduzeća
br. 3-4, ss. 100-10.
Riderstrale, J., Nordstorm, K. (2004), Funkey
business, Beograd: Biblioteka Copy Paste.
Rojers, E. M. (1986), Communication Technology:
The New Media in Society, New York.
Statistical Abstract of the Unitetd States 1995.
Stounier, T. (1986), Informacionnoje bogatstvo:
profil postindustrialnoj ekonomiki. Novaja
tehnokratičnaja volna na Zapade, Moskva:
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Thurow, L. (1996), The future of Kapitalism,
New York: W. Marrow and Company.
Toffler, A. (1990), Pownershift: Knowledge,
Wealth and Violence at the Edge of the 21th
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Tobin, Džejms (1999), »Globalnaja ekonomija:
kto u rulja?«, Problemi teorii i praktiki
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Vidas-Bubanja, Marijana (2000), »Globalizacija
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UNCTAD (1995), World Investment Report
1995, Transnational Corporations and Competitivenes.
UNCTAD (1997), World Investment Report
1998, "Trends and Determinants".
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Sanja Bauk, Nataša Kovač
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THE COMPARATIVE ANALYSIS OF TWO NEURAL NETWORKS
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Article title
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THE COMPARATIVE ANALYSIS OF TWO NEURAL NETWORKS
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Authors
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Sanja Bauk, Nataša Kovač
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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L92
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Abstract
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The paper deals with a comparison between two different methods in generating sub-optimal solutions to the Hopfield-Tank TSP (traveling
salesman problem) neural algorithm. Namely, the Hopfield-Tank TSP neural algorithm has been applied in the paper to the linear ship's route, that is cycle voyage modeling, which means here finding the optimal visiting order of a given set of ports in such way as to minimize the total sailing distance and implicitly total linear ship's traveling costs. The methods being implemented here into Hopfield-Tank TSP neural structure and computationally compared are: the brute force method and the fast insertion heuristic.
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Key words
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TSP (traveling salesman problem), Hopfield-Tank neural network, brute force method, fast insertion heuristic, linear ship, traveling costs.
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Literature
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[1] Hua-an Lu, Modelling Ship's Routing
Bounded by the Cycle Time for Marine Liner.
Journal of Marine Science and Technology, vol.
10, pp 61-67, 2002.
[2] Bauk S., Avramović Z., Hopfield Network
in Solving Travelling Salesman Problem
in Navigation, Neurel Conference Proceedings,
Belgrade, S&M, 2002. (pp 207-210)
[3] Bauk S., Kovač N., Improving Hopfield-
Tank TSP Algorithm by the Insertion Heuristic,
SYM-OP-IS Conference Proceedings, Vrnjačka
Banja, S&M, 2005.
[4] Bauk S., Kovač N., Modeling Ship's Route
by the Adaptation of Hopfield-Tank TSP Neural
Algorithm, Journal of Maritime Research,
Vo. 1, No. 3, 2004. (pp 51-66)
[5] Bauk S., Solving TSP in Navigation by
Application of Hopfield Recurrent Neural Network,
Maritime Transport 2nd Conference
Proceedings, Barcelona, 2003. (pp 425-435)
[6] Christofides T., Vehicle Routing in the
Traveling Salesman Problem, Lawler, Lenstra,
Kan and Shmoys, eds., John Wiley and Sons,
New York, 1985.
[7] Garey M.R., Johnson D.S., Computers
and Intractability: A Guide to the Theory
of NP-Completeness, Freeman, San Francisco,
1979.
[8] Kovač N., Bauk S., The Heuristic Strategy
Implementation to the Hopfield-Tank TSP Neural
Algorithm, Advancement of Modelling and
Simulation Journal – section: production engineering
and management, 2005. (accepted)
[9] Lawler E. L., Lenstra J. K., et al., The
Traveling Salesman Problem, John Wiley and
Sons, New York, 1985.
[10] Sedgewick R., Algorithms, Addison-
Wesley Publishing Company, Boston, 1988.
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Nikola Fabris, Maja Jandrić
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PUBLIC WORKS: THEORETICAL ASSUMPTIONS AND POSSIBILITIES OF THEIR ORGANISATION IN MONTENEGRO
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Article title
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PUBLIC WORKS: THEORETICAL ASSUMPTIONS AND POSSIBILITIES OF THEIR ORGANISATION IN MONTENEGRO
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Authors
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Nikola Fabris, Maja Jandrić
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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E62, H53, J21
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Abstract
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It is believed by many that that public works are certainly a sound and
rational form of economic policy. However, this begs a question how these measures foster economic development and whether they aggravate macroeconomic imbalances. Additionally, one should be aware of the fact that public works cannot be the solution for an underdeveloped economy, companies with obsolete technology, and
widespread employment. They can only moderate the existing economic situation. The paper analyzes theoretical assumptions of public works, as well as the experiences of developed and developing countries regarding the organisation of public works. Starting from the conclusions and characteristics with regard to the labour market in Montenegro, the paper examines the possibility of the public works organisation in Montenegro. The recommendation is that positive effects could be generated by the construction of highways. The conclusion is that potential organisation of public works in Montenegro cannot be treated as a substitute for reforms.
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Key words
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Montenegro, public works, unemployment, highway
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Literature
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Fabris, N. i dr. «Godišnji izvještaj Glavnog
ekonomiste», Centralna banka Crne Gore,
2006.
Drašković, V. (1996), Osnovi ekonomije,
Podgorica-Kotor: Univerzitet Crne Gore i Fakultet
za pomorstvo.
Haddad L. i Adato M. «How Efficently do
Public Works Programs Transfer Benefits to
the Poor? Evidence From South Africa», FCND
Discusccion Paper, no 108, 2001.
Kalanidhi S. «Systemic Shocks and Social
Protection: Role and Effectivnes of Public Works
Programs», Social protection Discussion Paper,
br. 302, World Bank Institute, 2003.
Magnum S. i dr. «Strategies for Creating Transitional
Jobs During Structural Ađustment»,
WPS No 947, 1992.
Marsenić, D. «Javni radovi – dramatičan razvojni
izazov», Ekonomika br. 4 – 5, Beograd,
1993, 3-7.
O`Leary, C.J., "Evaluating the Effectiveness
of Active Labor Programs in Poland", 1998.,
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Pavlović Z. i Vešović D. «Investicioni javni radovi
– da ili ne?», Privredna komora Beograda, 1997.
Pejić, L. «Javni Radovi – realnost ili utopija
», JIK banka, Beograd, 1993.
Ravallion M. «Appraising Workfare Programs
», World Bank, Policy Research Working
Paper br. 1955, 1998.
Ravallion M. «Reaching the Poor through
Rural Public Employment – A Survey of Theory
and Evidence», World Bank Discussion Paper,
no 94, 1990.
Subbarao K. "Public Works as an Anti-
Powerty Program: An overview of Cross-Country
Experience", ASSA Annual Meeting, 1997.
Tesfaye T. "Employment Programs for Food
Security in Sub-Saharan Africa", International
Food Policy Research Institute, 1997.
Vodopivec, M. "Does the Slovenian Public
Work Program Increase Participants` Chances
to Find a Job?", 1998., http://ideas.repec.org/p/
wdi/papers/1998-214.html
Vučo, N. "Ekonomska istorija sveta", Ekonomski
fakultet, Beograd 1987.
World Bank, "Public Works Programs:
What are the Income Gains to the Poor?", Washington,
Poverty Lines, November 1997.
__________, "Serbia and Montenegro Poverty
Assessment", Washington, Volume II, 2003.
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Vesna Karadžić
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COMPLETE SYSTEMS OF DEMAND EQUATIONS
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Article title
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COMPLETE SYSTEMS OF DEMAND EQUATIONS
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Authors
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Vesna Karadžić
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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K00, N41
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Abstract
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The purpose of this paper is to analyze the complete systems of demand
equations i.e. models of complex demand analysis as a contemporary approach to estimation of demand equations. Linear Expenditure System, Rotterdam model, flexible functional forms have been analyzed in a critical manner. The paper also stresses open questions and problems in the application of these models.
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Key words
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demand, expenditures, utility, model, consumer, demand elasticity
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Literature
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is not available
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Christos Ladias, Eleni Stamatiou
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THE MACRO REGION AS AN ECONOMIC ENTITY AND OF REGIONAL PLANNING
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Article title
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THE MACRO REGION AS AN ECONOMIC ENTITY AND OF REGIONAL PLANNING
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Authors
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Christos Ladias, Eleni Stamatiou
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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R11, R58
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Abstract
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In Greece the current administrative system of the 13 regions, as they are today, is believed to not have given the expected results. The policies and the sponsorships of each financial support of the European Union to Greece require a revamping of the management system of these regions into the new macro regions. In the current article we present the model of the macro region as an economic and spatial planning entity and its sustainability in accordance with a series of criteria. In particular, we examine the case of the recommended (northern) macro region
which comprises the existing three prefectures of Epirus-Macedonia-Thrace, the frame and the development perspectives, the role of the urban centers and of the infrastructures, etc, with emphasis on the long term perspectives of the European Cooperation.
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Key words
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Macro Region, Administrative system of Regions, Greece, Spatial
Planning, Regional Development.
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Literature
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Institut du Développement Régional (Grece)
(1999), Organisation des services de la Mairie
de Kavala (1ere et 2eme phases). (en Grec.)
Lagos Dimitrios (2001), ''Urbanisation
touristique en tant que nouvelle forme de croissance
territoriale'', TOPOS volume 17/2001, pp.
125-146. (en Grec.)
Lagos D., Stamatiou E. (2005), ''New perspectives
and strategies for the coastal tourism
areas of Greece'', IASME Transactions -WSEAS
Journal, 5, V.2, July 2005, pp. 721-728. (en Anglais)
Ladias Christos (1997), ''La modernisation
administrative et les régions du territoire grec'',
Congres national de science régionale, département
Grec d'ERSA- Institut de Développement
Régional, Université Panteion, Kifissia, Athenes
1997. (en Grec.)
____________ (2004), ''La stratégie de
croissance du tourisme de la Grece continentale'',
Congres scientifique panhellénique ''éducation
et croissance – le cas de la région de la
Grčce continentale'', Organisation : Groupe de
citoyens Phthiotide 21eme siecle ''et ``banque
coopérative de Lamia '', Lamia le 9-11 janvier
2004. (En Grec.)
____________ (2005), '' La création de la
région au sens au nord de la Grece et son effet
sur la croissance régionale grecque par rapport
à la croissance balkanique'', 7eme conférence nationale
''Science Régionale et Politique: Grece et
Balkans'', Département Grec d'ERSA- Institut
de Développement Régional, Université Panteion,
Athčnes 7-8 Mai 2005. (en Grec.)
____________ (2005a), ''Université et
Développement'', 1ere Conférence scientifique
''L'Université à Lebadia et son rôle dans le développement
économique de la région au sens
large'', Organisateur: Mairie de Lebadia, co-organisateurs
scientifiques de la région de Lebadia:
Université de la Grece Centrale, Institut de
Développement Régional, Université Panteion,
Université Egée, Université de Thessalie, Association
des Régionalistes Grecs. (en Grec.)
Michaelides P., Economakis G., Lagos D.
(2005), ''Clustering Analysis Methodology for
employment and Regional Planning in Greece'',
IASME Transactions -WSEAS Journal, Issue 5,
V.2, July 2005, pp. 750-757. (en Anglais)
Stamatiou Eleni (2000), ''Recherche de
mode d'intervention des organismes de développement
centraux à la Planification du territoire
et de l'environnemental (naturel et anthropique)''
Thčse d'études de 3eme Cycle, Université
Panteion, Section économique (antérieurement.
Section Urbaine) et de croissance régionale
(complétée avec bourse d'état IKY). (En Grec.)
_____________ (2002), ''Land Tenure and
Land Relations in Greece'', in: AN INTERNATIONAL
ENCYCLOPEDIA OF LAND TENURE,
RELATIONS FOR THE NATIONS OF THE
WORLD (4 volumes), Assiduity for publication:
Russian Academy of Social Sciences, Ministry
of Agriculture of the Russian Federation/ Research
Institute of Relations of Land and Land
planning -Prof. Vladimir Belenkiy/Academician,
Edwin Mellen Press, USA, vol. ΙΙ, pp. 88-
199 (En Anglais et Russe).
_____________ (2004), ''Centres urbains
de moyenne taille en Thrace. Transformations
territoriales et perspectives de développement.
Le cas d'Alexandroupolis, de Comotini et d'Orestias'',
dans le tome en honneur au professeur
de l'école Polytechnique d'Athenes Monsieur
Athanase Aravantinos: ''ville et urbanisme en
Grčce - perspectives pour le 21eme siecle'', Ecole
Polytechnique d'Athenes - Université de Thessalie,
pp. 501-512. (en Grec.)
Tsartas P., Lagos D., Stamatiou E. (2002),
''Tourism Policy and Tourism Development
Planning in border Regions'', International
conference XVI AESOP "Planning in Border
Regions", Volos, Greece, (proceedings awaiting
publication). (En Anglais)
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Bagrat Yerznkyan
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SPECIFICITY OF "CONTRACTUAL" RELATIONS OF GOVERNMENT AND BUSINESS IN RUSSIAN FUEL AND ENERGY SECTOR
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Article title
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SPECIFICITY OF "CONTRACTUAL" RELATIONS OF GOVERNMENT AND BUSINESS IN RUSSIAN FUEL AND ENERGY SECTOR
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Authors
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Bagrat Yerznkyan
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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K12, K20
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Abstract
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Specific relations of government and business in Russian fuel and
energy sector described as "contractual" are considered. Two players – government and business – play a dynamic contractual play, i.e. they make some series of agreements concerning rentdistribution amongst them. To model this game, we use simple contractual scheme of O. Williamson. Such a model permit us demonstrate relations of three business players, namely: oil, gas and electricity players, from one hand, and the government, from another. Dynamics means that we consider three stages – retrospective, presentday and perspective. Some conclusions of perspective strategy for development of Russian economy are done.
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Key words
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institutions, contractual relations, business.
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Literature
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is not available
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Aleksandar Grubor
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GLOBAL MARKETING OF THE COMMON EUROPEAN MARKET
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Article title
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GLOBAL MARKETING OF THE COMMON EUROPEAN MARKET
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Authors
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Aleksandar Grubor
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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M31
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Abstract
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Global marketing is an marketing answer to challengings of globalization
process. Globalization in undoubtedly a phenomenon incorporated in the functioning of the modern world, highly reflected on the regional (continental) integrations such as the European Union. Globa-lization has its economic, but also wider, political significance. In terms of economy, the manifestation aspects of globalization are numerous, and this paper points to the marketing aspects of the globalization process
of the highly integrated market of the European Union. Over the last decade of the twentieth century, Europe was intensely focused on removing economic, political and cultural barriers to connecting nations and states, where economic boundaries increasingly lose their significance. Global interconnectedness of the domestic, regional and international markets is becoming the indicator of economic development, where such interconnecting in the most developed countries of the world exceeds 50% of total economic activities. In the times we are living in, the issue of establishing a global and thereby European economic equilibrium is increasingly manifest. Inclusion in the globalization process implies a high level of openness of national
economies, as well as encouraging enterprises to actively apply the principles of international competitiveness and marketing qualifications, and the expected result would be gaining appropriate market share. A successful integration into European economic mainstream implies connecting technological and marketing strategies, thereby facilitating structural changes and adaptation of the national economies. The implementation of overarching corporate strategy is the starting point for connecting and coordinating business activities of globally oriented enterprises. The marketing aspect of such an approach to doing business implies a transfer from flexible marketing strategies to strategic flexibility of these enterprises in the new European environment. The causes of such approach are in the changed logic of the functioning of the integrated market, homogenization of consumer behaviour and achieving cost effectivenes.
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Key words
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global marketing, common European market, globalization process.
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Literature
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Mile Jović, Međunarodni marketing [International
Marketing], special edition, IEN Press,
Belgrade, 2002,
Warren J. Keegan, Global Marketing Management,
seventh edition, Prentice-Hall International,
Inc. Upper Saddle River New Jersey,
2002.
Masaaki Kotabe and Kristiaan Helsen, Global
Marketing Management, John Wiley & Sons,
Inc. 2000.
Philip Kotler: Marketing Management, eleventh
edition, Prentice Hall Inc., Upper Saddle
River, New Jersey, 2003.
__________, Principles of Marketing, third
European edition, Prentice Hall Inc., Upper
Saddle River, New Jersey, 2002.
Vern Terpstra and Ravi Sarathy, International
Marketing, eighth edition, The Dryden Press,
Harcourt College Publishers, 2000.
Frank Bradley, International Marketing
Strategy, fifth edition, Pearson Education Limited,
2005.
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Svetlana Rakočević
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GAME THEORY-BASE FOR ECONOMIC BEHAVIOUR
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Article title
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GAME THEORY-BASE FOR ECONOMIC BEHAVIOUR
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Authors
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Svetlana Rakočević
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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C70, C71
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Abstract
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In everyday life, professional and private, environment usualy is not amorf. There exist subjects and groups whose activities are relevant and sometimes even decisive for our decisions. In the same time our activities have feed back on decisions of those subjects, so the final results that each of us achieve are product of individual decisions and their interactions. Among numerous problems of contemporary science
there lies a question how to explain and formalize in exact way behaviour of market participants under conditions of uncertanty and conflict of interests. Game theory has offered one of the answers. Game theory treats economy like complex and hardly predictible game with lot of participants, and not like deterministic machine. Analitical aparatus of the game theory has been developed in order to find adecvate metodological answer i.e. to offer usible tool of rational decision analysis under risk, uncertainity and conflicted interests of participants. The aim of this paper is to review the importance of game theory and possibility of its
aplication in the analysis of complex economic problems, mainly equilibrium in the case of oligopoly.
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Key words
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game theory, equilibrium, Nash equilibrium, oligopoly
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Literature
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Carmichael, F. "A Guide to Game Theory",
Prentice Hall, 2005.
Camerer, C.F. "Behavioural Game Theory:
Experiments in strategic interaction", Princeton
Nj: Princeton University Press, 2003.
Colman, A. M. "Cooperation, psychological
game theory and limitations of rationality in
social internacion",Behavioral and Brain Sciences,
26, 2003.
Drašković, M. "Teorija igara u strategijskom
menadžmentu brodarskih i lučkih usluga", Ekonomika
preduzetništva br. 1, 63-67, 2004.
______________, "Teorija igara kao alternativna
koncepcija u evoluciji istraživanja prirode
firme ", Montenegrin Journal of Economics No
1, Vol. 1, 169-178, 2005.
Foss, N. "Austrian Economics and Game Theory",
Review of AustrianEconomics, 13. 2000.
Holt C, Roth A., "The Nash equilibrium: A
perspective", PNAS, March 23, 2004.
Jakšić, M. "Teorija igara u ekonomiji", Ekonomika
br. 3, 73-74, 1993.
Kreps, D." game Theory and Economic Modelling",
Oxford: Clarendon Press, 1993.
Mankju, G. "Principi ekonomije", -prevod,
Ekonomski fakultet, Beograd, 2005.
Osborne J. M. "An Introduction to Game
Theory", Oxford University Press, 2004.
Osborne M., Rubinstein A., "A Course in
Game Theory", 8th print, The MIT Press, Cambridge,
London, 2002.
Palacios-Huerta, I. "Professionals play minimax",
Review of Economic Studies, 70: 2, Aprill
Pindyck R., Rubinfeld D. "Mikroekonomijaprevod",
Mate, Zagreb, 2005.
Rakočević S., Backović M., "Operaciona istraživanj",
Ekonomski fakultet, Podgorica, 2003.
Samuelson, A. P., Nordhaus, D. W., "Ekonomika",
Moskva, Binom-KnoRus, 232-241, 1997.
Stojanović B., "Teorija igara u kontekstu metodoloških
problema ekonomske nauke", Ekonomski
anali br. 124, 57-75, 1995
__________ ,Teorija igara-elementi i primena,
Službeni glasnik, Beograd, 2005.
Tourki M., Backović M., «Matematički metodi
i modeli», Ekonomski fakultet, Beograd, 1994
Varijan H. "Mikroekonomija-prevod", Ekonomski
fakultet, Beograd, 2004.
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Milenko Popović
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OLD AND NEW THEORIES OF ECONOMIC GROWTH (II Part)
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Article title
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OLD AND NEW THEORIES OF ECONOMIC GROWTH (II Part)
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Authors
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Milenko Popović
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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O41, C61
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Abstract
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In this article an attempt has been made to give comparative analysis of
old and new theory of economic growth. The field of economic growth has became again very dynamic and very interesting after appearance of seminal Romer's 1986 and Lucas's 1988 articles, which initiated so called new theory of economic growth, sometime termed as theory of endogenous technological progress. This new theory, in some very important issues, stands in a sharp contrast with the old neoclassical version of theory of economic growth, which similarly can be termed as the theory of exogenous technological progress Apart from the introduction and the concluding section, core of the article is presented in four sections. In first of them exposition of old version of neoclassical growth theory is given. In the following 3 sections survey of new theory is given. Version that eliminates assumption of diminishing returns to capital is discussed first. Than, version that uses human capital as engine of growth is presented. After that, models that use R&D as engine of growth is discussed. Models with spillovers from international trade are also shortly presented.
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Key words
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Economic growth, Endogenous models, Diminishing returns, Human
capital
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Literature
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is not available
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Milijana Novović
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INVESTMENT PORTFOLIO IMMUNIYATION OF LIFE INSURANCE COMPANIES
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Article title
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INVESTMENT PORTFOLIO IMMUNIYATION OF LIFE INSURANCE COMPANIES
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Authors
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Milijana Novović
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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G22
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Abstract
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Insurance companies operate at the markets investing their free reserves. The process of investments of free reserves has to be conducted according to the structure and maturity of insurance obligations. Asset Liability Management (ALM) is the main theoretical model for structuring optimal investment portfolio of insurance companies. Immunization strategy is a technique that life insurance
companies use for the assetliability management. The technique of immunization measures the duration and convexity of life insurer's liabilities and assets and point to necessity of interest rate risk control.
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Key words
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Insurance Companies, Mathematical Reserve, Interest Rate Risk, Immunization, Duration, Convexity and Bonds.
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Literature
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M. Antony and D. Babbel, "Financial
markets, instruments and institutions", second
edition, MCGraw Hill, 2001.
A. Wiliams, M. Smith, P. Young, "Risk
Management and Insurance", Eight Edition,
MCGraw Hill, 1997.
V. Avdalovi, "Menadžment rizikom u
osiguranju", Želnid, Beograd, 2000.
D. F. Babbel, "Asset/Liability Management
for Insurers in the New Era: Focus on Value",
Journal of Risk Finance, October 2001.
G. A. Dickson, & W. Stein, "Risk and
Insurance", Chartered Insurance Institute,
London 2003.
E. Briys and F. de Varenne, "Insurance from
underwriting to derivates", John Wiley &sons,
LTD, London, 2003.
J. Koovi, P. Šulei, "Osiguranje", CID,
Beograd 2002.
M. Novovi, "Izvori finansiranja i plasman
sredstava osiguravajuih kompanija", Magistarski
rad, Ekonomski fakultet, Beograd 2005.
S. Popovi, "Portfolio analiza", MODUS,
Podgorica 2000.
Z. Petrovi, T. Petrovi, "Osiguranje
života", Glosarijum, Beograd 2003
asopis "Sigma", Swiss-re, 6/2000
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Mimo Dašković
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AN INTEGRATED ROLE OF INFORMATION IN THE MARKETING LOGISTICS OF THE TRANSPORTATION SYSTEMS
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Article title
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AN INTEGRATED ROLE OF INFORMATION IN THE MARKETING LOGISTICS OF THE TRANSPORTATION SYSTEMS
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Authors
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Mimo Dašković
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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L86; L91; R40
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Abstract
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Marketing logistics concept is being used in all situations of goods, information and resources flow from the place of derivation to the consumptive destination. Importance of marketing logistics is seen through the fact that physical distribution expences make as many as 40% of the overall costs. This justifies its importance in making competitive advantage. Marketing logistics tends towards complex embracement of, that is, harmonization and integration of all logistic
function. Informational flows have key position in marketing transportation systems integration.. The goal of this paper is to show logistic information as a chain of competence of an integrated marketing logistics of transportation systems, with a view to practical application in the Port of Bar., logistics chain, transportation system, competitive adentage
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Key words
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Logistics Information, Integrated Marketing Logistic, Logistics Chain,
Transportation System, Competitive Advantage.
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Literature
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Božić, Vladan et al. (2001), Poslovna logistika,
Beograd-Valjevo: Ekonomski fakultet. i
Viša ekonomska škola.
Drašković, Mimo (2004) Pojam, značaj i
struktura logističkog menadžmenta, Poslovna
politika, april, ss. 51-53
______________ (2004), "Osnovni elementi
i značaj logističke strategije razvoja lučkog sistema",
Tehnika br.3, god. LIX, ss. 53-7 (sa Međunarodnog
simpozijuma "Savremene strategije
razvoja saobraćajnog sistema - Evropa i naša
zemlja", Beograd, 16 i 17. jun 2004, JINA).
_____________ (2004)., »Logistika kao
poslovni potencijal Luke Bar«, Pomorstvo br.
22, ss. 19-34.
Fuller, J. B., O'Conor, J. & Rawlinson,
R. (1993), "Tailored Logistics: The Next
Advantage", Harvard Business Review 71:3,
May—June, pp. 87—98.
Jovović, Radislav (2004), Informaciona logistika
i elementi projekt menadžmenta, Ekonomski
fakultet, Podgorica.
Kalinić, Vojin (1993), Marketing logistika,
Subotica: Ekonomski fakultet.
Kolanović, I., Badrina, E. (2002), "Lučki sustav
u logističkom lancu", Pomorski zbornik br.
40, ss. 223-49.
Roca, Božidar (2004), Marketing logistika,
Bački Petrovac: Kultura.
Sergejev, V. I., red. (2005), Korporativnaja
logistika, Moskva: Infra-M.
WISDOM (1996), Pilot arhitecture report
towards a generic frame-work for intermodal
transport, European Commission.
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Tatjana Ivanović
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PSYCHOLOGICAL ACCESS TO ADVERTISEMENT
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Article title
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PSYCHOLOGICAL ACCESS TO ADVERTISEMENT
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Authors
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Tatjana Ivanović
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Category
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Economics
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Article type
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Science Article
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JEL Classification
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M37
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Abstract
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Fast economic development needs contemporary solving of problems
which occur on market. With aim of better and stronger penetration
toward consumer, specialists started to consider in details consumer from more aspects. Through exploring consumer's needs and motives it is made qualitative studying whose target is to uncover subconscious and hidden motives of human behavior. Motivation is thing which move consumer and make him active. Consumer's behavior is caused by stimulates and motivations which are appear under external and internal factors which exercise influence on them. In this article are considered some psychological aspect of advertisement and influence of advertisement on recipient. Beside some advertisement which earlier were realised, it is tried to get comment on the same which are sooner
realized. Aim is that through analysis of practical examples try to close some psychological aspects of advertisement and explain importance of this analyse during creation of campaign.
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Key words
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Promotion, Marketing, Consumer, Motive, Need, Selling Promotion,
Adverti-sement,
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Literature
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1. Clark, Eric (1989), The world of advertising:
how to make you buythe want makers,
Viking Penuin Inc, USA,
2. Vračar, Dragutin (1996), Strategija tržišnog
komuniciranja, Beograd: Savremena administracija.
3. Barton, Roger (1964), Uspješna ekonomska
propaganda, Zagreb: Privreda.
4. Sjuel, Karl & Braun, Pol (1995), Doživotni
kupac- kako ga stvoriti i sačuvati, Beograd:
Clio.
5. Pakard, Vans (1994), Skriveni ubeđivači -
psihologija reklame, Beograd: PS Grmeč – AD
Privredni pregled.
6. Blend, Majkl i Modezir,Simon (1994),
Promocija na televiziji i radiju, Beograd: Clio.
7. Clark Eric (1989), The world of advertising:
haw to make you buy - the want makers,
Viking Penguin Inc., USA.
8. Evans I. Richard (1989), Graditelji psihologije,
Beograd: Nolit.
9. Kotler, Philip (1988), Upravljanje marketingom,
Zagreb: Informator,
10. Maričić, Branko (1996), Ponašanje potrošača,
IV izdanje, Beograd: Savremena administracija.
11. Mandić, Tijana (2003), Komunikologija
– psihologija komunikacija, Beograd: Clio.
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