Home  Journals  Financial Analytics: Science and Experience  31(217) - 2014 August

A mixed economy model: the further development

Available online: 16 August 2014

Subject Heading: ISSUES ON ECONOMICS

JEL Classification: 

Pages: 14-25

The authors continue multidisciplinary study of the characteristics of the real and virtual markets and mechanisms, as well as factors for taking of the managerial decisions by market agents. The article puts an emphasis on the further study and development of the model of mixed markets taking into account primarily the psychological aspects of behavior and decision-making by economic agents, for which purpose a number of numerical experiments have been carried out. The paper describes the changes of the investment rate of real and virtual capital market relative to a reference rate of growth for several experiments. The autocorrelations of the values of growth rates and autocorrelation of the values of deviations from the reference growth rate for each experiment have been calculated. At the later stage, the average values of the autocorrelations growth and growth rate deviations from the reference value have been used. The experimental results demonstrate that the values of real growth rate of real and virtual market capital are held subject to autocorrelated dependence. The authors perform an analysis of the deviations of the real GDP values of the United States of America and Russia, as well as the Dow Jones and RTS indexes from the selected logistic curve. On the basis of the analysis of the "behavior" of the Dow Jones and RTS indexes, the authors arrive at conclusion that the Russian stock market is unattractive for investment. The authors conducted a study of the peculiarities and problems of small business in Russia and highlighted the problems associated with the organizational structure of small business and the specifics of decision taking, as well as the influence of external factors. The paper sets an objective to identify psychological mechanisms and decision-making factors in the process of organization of investment by private persons in the virtual economy.

Keywords: mixed economy model, market, statistical assembly, numerical experiment, random error component, volatility, stock market, market agent, psychological mechanism, decision-making factors, decision error

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