Economic Science Research Articles

Engineering Economic Systems: Past, Present and Future

At Stanford, engineering economic systems emerged as a discipline in the late 1960’s. The department’s curriculum had four central areas: decision analysis, optimization, economic sciences, and dynamic systems. The emphasis was on both practice and theory. The Management Science and Engineering Department at Stanford (MS&E), founded in 2000, is an outgrowth of the former Engineering Economic Systems Department. MS&E focuses on the codesign of engineering platforms and social systems in the 21st century, at scale and with pervasive data. The goal is to understand, design, implement, and control large-scale, integrated systems of people and machines. The intellectual spectrum ranges from analytics and computation to social and behavioral sciences. This article describes examples of past and present projects in the areas of energy, education, the economy, the environment, and health. Looking to the future, we are likely to see the continual emergence of new technologies, increasing amounts of data, increasing levels of connectivity, advances in computing, ubiquity of machine learning and artificial intelligence, and increasing importance of the need to address social and environmental problems. These will lead to new ways of analyzing problems and rich new opportunities for the tools of engineering economic systems to have impact.

Mobilisation relations: essence, experience, and security improvement

The present research shows the essence of the mobilisation relations system and gives their brief description, considers their objective correlation with the productive forces of society and their significance in the period of increasing confrontation with unfriendly Western countries. This system is revealed as experience of formation of these relations according to N. A. Voznesensky and also as a condition for improvement of the Russian economic security today. Methodologically, the authors consider the unity of historical and logical directions in the development of the system, its differences from the traditional statemarket model of relations with the use of updated political and economic science. The results contain the experience of modernisation of the material and technical base of the Russian economy, mobilisation regulation of business relations and the formation of a new intellectually advanced, versatile and mobile employee. Besides, applied directions for their improvement in the form of effective employment of these processes and the modernised state management mission are also part of the results. Moreover, each of these components, their various combinations and integral set are examined in terms of improving the security of society and each of its members. The research concludes that it is necessary to accelerate the implementation of mobilisation regulation of the society development and its economy, aimed at the further improvement of their security.

Inbound marketing and customer loyalty in the tourism sector

The inbound marketing strategies employed by tourism companies have proven to be crucial in post-COVID-19 scenarios, facilitating their adaptability, visibility, and customer retention in adverse environments. The study aimed to determine the relationship between inbound marketing and customer loyalty in the tourism sector. It is a quantitative, correlational, and non-experimental study. The sample consisted of 380 tourists aged 18 and above who visited Trujillo, Peru, in the first quarter of 2022. Data collection utilized the survey technique with a questionnaire as the research instrument. Survey data were tabulated in MS Excel and analyzed using Jamovi 2.3.38, employing descriptive and inferential statistics. The correlation was assessed using the Spearman coefficient. The results highlighted that 40.8% of participants agreed that inbound marketing strategies implemented by Trujillo’s tourism sector were highly effective, while 60.0% expressed strong loyalty to these companies. Ultimately, a significance level below 0.05 was identified between the variables, indicating a significant relationship between them. Consequently, the study concluded the existence of a direct and moderate relationship between inbound marketing and customer loyalty in the investigated group. AcknowledgmentWe express our gratitude to Antenor Orrego Private University for their invaluable support in the development of our research thesis. The guidance and resources provided were instrumental in achieving our academic objectives.We extend special thanks to the Faculty of Economic Sciences for their constant support, guidance, and valuable suggestions that have significantly enriched the quality of this research work. Additionally, we appreciate the teaching staff for their inspiration and dedication, which has positively influenced our academic and professional growth.The infrastructure and learning environment of Antenor Orrego Private University have played a crucial role in the achievement of this milestone. This research article is the outcome of the solid foundation we have acquired during our time at this institution.Finally, our sincere thanks to Antenor Orrego Private University for being the cornerstone of our academic education and for providing us with the necessary tools to carry out this research project.

Exploring the Interplay between Economics, Justice, Democracy, and Socioeconomic Welfare during Antidemocratic Periods: The Case of Turkey

The Arabic word for „ İktisat (Economics)” is derived from the root „intention”. Legal science defines “intent” as performing an act consciously. Economic science defines “İktisat” (economics) as the conscious prioritization of a person’s primary requirements over their secondary desires. Since intent serves as the true foundation for the administration of justice, it may be claimed that what is fair economically is also fair. In the study, examples of economic and fair administrations that can provide social welfare have been evaluated economically sociologically in the historical process. To prove the main idea of the study, the data of the international democracy rule of law indexes were used. In this context, the financial data during the one-party period, the military coups and the memorandum periods in which democracy and the rule of law were suspended in Turkey were analyzed in depth and interpreted by comparing them with the country’s financial sociologic indicators. Also, economic changes in periods when civil and political rights were limited or expanded will be discussed in the study. As a result, it has been found out that only democratic regimes that internalize liberal values, civil and political rights, and the rule of law can lead their respective societies to achieve economic prosperity.

The Impact of the Current Crisis on Community’s Subjective State. Directions for Rebuilding Individual Wellbeing in the Post-Crisis Period

The choice of a lifestyle was and will remain an important part of the way in which we organise our life, certainly in the given socio-economic and cultural conditions. Lifestyle is built in agreement with the wish of each and any of us to achieve satisfaction with life, or in philosophical language, happiness. The concept of subjective wellbeing is a fundamental one in the quality-of-life paradigm. The main indicator of the subjective state is satisfaction with life. Global satisfaction with life is the outcome of the degree of fulfillment of the individual as general average of all fields of life. In this indicator are included important human benefits, results of economic growth in relationship with the wishes and aspirations to happiness and welfare. They express the permanent orientation of the individual towards self-development/self-construction. In fact, satisfaction with life, as subjective state of individual wellbeing depends on both economic personal welfare (living standard, income, employment, financial situation) and on the state of society’s organization and governance quality, family situation, type of interpersonal and neighborship relations, social participation, etc. The lifestyle is also a key-factor here. Sectoral indicators of satisfaction with life cover the main spheres of human existence (family, profession, work, free time, safety, civic and political participation, personal development, interpersonal relationships, neighborship and friendship relationships, etc.). Subjective wellbeing or “subjective/perceived quality of life” is a critical structural component of the global state of wellbeing. It is the human filter of the objective living conditions. The subjective quality of life is not just the summation of the quality of life’s components, but more than that, the synthesis of its results: the state of human balance, tranquility, wellness. And, the result might allow accessing happiness, the perpetual aspiration of the human. By means of the subjective indicators for satisfaction with life, happiness benefits of ways for precise measurement and analysis. The concept of happiness is a key-concept of all philosophical systems, but it entered by operational forms also in socio-humane, medical and economic sciences, etc.

Research of the mechanism of innovation implementation in the activities of Russian enterprises

In the conditions of globalization and development of information technologies, the competition of enterprises on national and international scales is significantly aggravated, which determines the importance of ensuring competitive advantages for any enterprise through innovation. In modern conditions, the effectiveness of innovation activity of the enterprise and, accordingly, its competitiveness depends primarily on the completeness and reliability of business information about the activities of counterparties and the conditions of the external environment. The value of informing about possible changes in the business environment has a manifestation through the prevention of tactical and strategic errors of enterprise management. Innovative development is the basis of competitiveness of modern economies, which provides the possibility of accelerated growth at macro- and micro-levels on the basis of creation and strengthening of intellectual potential in the global business environment. Despite the presence of significant conditions for qualitative changes on an innovative basis, the Russian Federation continues to be in a complex highly turbulent period of unstable growth. Therefore, the task of domestic economic science is to find mechanisms for the implementation of modern management of innovative development in the practice of enterprises in the Russian Federation, systematizing and developing its methodology. This requires an in-depth scientific study in the direction of searching for conceptual foundations for the activation of innovative development of enterprises to make a technological leap in the Russian Federation, in particular, on the basis of attracting breakthrough innovations, modern concepts of knowledge management, formation of relevant business models, management of high added value processes and the use of information and communication technologies in the digital space.

Post-institutionalism versus economic science: Critical analysis

The article analyzes post­institutionalism, highlighting its inability to present a “new mainstream” in institutional studies in economics. Pointing out some real problems of institutional studies of modern society, post­institutionalism does not provide what economic theory needs. The rejection of functionalism, rationalism and efficiency and optimality criteria sidetracks this approach to the field of sociology and cultural studies; de­economization is also effected on account of target substitution of institution transplanting. Another essential problem is the confusion of notions through their “unsealing” that enables an “alternate” interpretation of blockchain and allows to oppose against the transaction costs minimization principle, basing on the criticisms of the Coase Theorem. Rejecting this interpretation, the article claims that the studies of the institutional complexity of modern society does not require refusal of classical approaches, but their clarification. The paper also criticizes the call for “postdisciplinarity” and raises the question of the quality of interdisciplinary institution researches.

COMPARATIVE ANALYSIS OF YANDEX.METRICS AND GOOGLE ANALYTICS AS POLICY TOOLS FOR MANAGING URBAN DIGITAL INFRASTRUCTURE

This article is a review of the electronic tools Yandex.Metrica and Google Analytics for potential possible use in urban digital infrastructure facilities. A comparative analysis of the data from two tools in search of an optimal choice was chosen as the research method. The work consists of an introduction, which provides a brief description of the abovementioned electronic platforms, the main part and a conclusion, which presents a likely partial confirmation of the hypothesis. The article may be useful for students, postgraduates and research teachers in the fields of political science, information technology and economic sciences, as well as be of interest to specialists in promoting products to the market and lobbying interests within the framework of government contracts.

33 An evaluation of Oklahoma beef producer decision factors regarding the implementation of calf best management practices

Abstract Oklahoma State Ag Economics and Animal Science Specialists implement the Oklahoma Beef Management and Marketing Survey approximately every 5 yr. Data from the 2017 survey indicated that 82% of producers practiced castration, 87% dewormed, 75% trained calves to feed bunks, 63% weaned calves for a minimum of 45 days, and 49% administered two rounds of respiratory vaccinations (Barnes et al., 2023). Using data from the 2017 survey, the objectives of this study were to evaluate incentives and constraints to producer implementation of calf best management practices and to analyze relationships between individual management practices and marketing calves at weaning ( < 30 d weaned) or following a weaning period (≥ 30 d weaned). Management practices evaluated included castration, deworming, feed bunk training, a minimum 45-d weaning period, and the administration of two rounds of respiratory vaccines. A total of 1,495 surveys were returned. When asked to indicate management incentives (why the practice was implemented), n = 1,375, n = 1,348, n = 1,070, n = 937, and n = 937 responses were recorded regarding castration, deworming, bunk training, 45-d weaning period, and respiratory vaccination, respectively. Survey data indicated 30%, 17%, 18%, 21%, and 21% of respondents felt that buyers paid a premium for the practices of castration, deworming, bunk training, 45-d weaning period, and respiratory vaccination, respectively. Survey responses illustrated that 22% and 19% of producers felt that deworming and bunk training, respectively, improved calf marketability. A total of 12% of respondents indicated that announcing days weaned and vaccination history at the time of sale improved calf value. When asked to indicate constraints to implementing management practices, n = 211, n = 277, n = 258, n = 388, and n = 542 responses were recorded regarding castration, deworming, bunk training, 45-d weaning period, and respiratory vaccination, respectively. According to survey results 15%, 26%, 20%, 17%, and 25% of producers felt that castration, deworming, bunk training, 45-d weaning period, or administering respiratory vaccinations, respectively, provided no benefit to their operations. Data illustrated that 7%, 9%, 10%, 9%, and 9% of respondents were unaware of any added value for the practices of castration, deworming, bunk training, 45-d weaning period, and administering respiratory vaccines. Relationships between the management practices of castration, deworming, and providing respiratory vaccines and the decision to market calves at weaning or post-weaning were evaluated. Data indicated weak significant negative correlation coefficients of -0.25, -0.28, and -0.21 for castration, deworming, and respiratory vaccines, respectively, and marketing at weaning. Conversely, weak significant positive correlations of 0.25, 0.30, and 0.25, respectively, were observed for castration, deworming, and respiratory vaccines with marketing post-weaning. A substantial percentage of producers subscribed to calf best management practices. However, because the observed correlation coefficients were weaker than expected producer education regarding optimal marketing strategies may lead to an improvement in capturing market premiums related to management practices.

Wage Function Estimation of Estonia and Latvia

Abstract The study of wage determinants goes back to the beginning of economic science, with theoretical and empirical foundations providing the basis for the specification of a model of the wage function. Using the OLS method, we study the determinants of real wages for Estonia between 2006Q3 and 2022Q3 and Latvia between 2004Q1 and 2022Q3. The lagged dependent variable exerts the most considerable impact on real wages, i.e., real wages in the preceding quarter. We find that unemployment has a relatively larger impact on real wage dynamics than real productivity in the Latvian than in Estonian model. In the Estonian model, real productivity has a relatively stronger impact than unemployment in explaining real wages. In both countries, changes in real productivity impact real wages with a one-quarter lag. The findings on the relative influence of real wage determinants guide economic policymakers in targeting measures that could increase real wages in both countries.

Constructing economic science: The invention of a discipline 1850–1950 By KeithTribe, Oxford: Oxford University Press. 2021. pp. 440. £74.00 (hbk). ISBN: 9780190491741

Constructing economic science: The invention of a discipline 1850–1950 By KeithTribe, Oxford: Oxford University Press. 2021. pp. 440. £74.00 (hbk). ISBN: 9780190491741

THE INFLUENCE OF EUROPEAN INTEGRATION ON THE ENTERPRISES OF THE AGRARIAN, FOOD AND PROCESSING INDUSTRY WITHIN THE FRAMEWORK OF FOOD SECURITY OF UKRAINE

Purpose. The purpose of this study is to review of the processes of European integration influence on the enterprises of the agrarian, food and processing industries in the framework of food security of Ukraine in the conditions of war Methodology of research. The theoretical and methodological basis of the article is the fundamental provisions of modern economic science. General scientific and special research methods were used in the study, namely: systematic approach – to summarise the main views of the authors on the above-mentioned issues; monographic approach – for theoretical generalisation of the essence of food security; generalisation – to formulate the author’s own vision of the European integration impact on enterprises; abstract and logical approach – to formulate conclusions. Findings. The place and role of the agro-industrial complex of Ukraine in the national economy are determined. The basic principles and principles of Ukraine’s entry into the European integration process are considered. Attention is focused on the possibilities of the agro-industrial sector of Ukraine after integration into the European Union. It is revealed that European integration is not only economic cooperation and trade, but also a certain worldview. It is substantiated that European integration will provide a real opportunity to create a system of customs regulation that would be effective and in line with the customs procedures and rules of the EU. It will also provide an opportunity to regulate, protect and fiscalize the products of Ukrainian producers when they are exported. The article analyses the impact of European integration on agricultural, food and processing enterprises. Their positive and negative aspects are analysed in the light of the historical realities of today. Originality. The European integration impact on the enterprises of the agrarian, food and processing industries within the framework of Ukraine's food security is highlighted. The prospects for the functioning of the agro-industrial sector of Ukraine in the context of European integration are reviewed. Practical value. The main provisions of the study allow agricultural producers to determine the vectors of European integration processes in Ukraine, taking into account the realities of today. Key words: european integration process, food safety, agricultural, food and processing industry enterprises.

Судьба «больших теорий» в экономической науке

In economic literature we can find discussions concerning the so called «grand theories» which are allegedly lacking in modern economic science. These theories could have counter the fragmentation tendencies which split economics into separate loosely connected parts. The notion of abstract «grand theories» emerged in sociology and was particularly developed by Robert Merton who compared them with empirically based and testable «middle-range theories» which should be preferred. A classical grand theory in the history of economic science was Karl Marx’s theory. In some degree this nomination can be attributed to the general equilibrium theory of Leon Walras. Later a significant specialization and segmentation of economic theory occurred. Economic mainstream underwent great changes in several last decades, but their direction led to a greater heterogeneity. Despite some negative consequences of this trend and its critical reception in part of economic literature, a return to grand theories in foreseeable future is highly unlikely.

Sharing Economy Development: Empirical Analysis of Technological Factors

The development of the sharing economy is accelerated using digital technologies. Such a topic is not widely discussed in the literature and requires knowledge to fill the existing gaps. The authors analyzed technology-driven variables which have the highest impact on expanding sharing activities. The research helps to examine the degree of integration of society into the process of sharing economy development. This paper aims to create a methodology that helps to evaluate the development of sharing platforms dependent on technological variables such as society’s access to digital services. Two activities are foreseen to achieve the goal. The first activity includes the steps necessary for revising technological variables (the compilation of an initial list of variables, the selection of variables, normalization, and the formation of correlation matrix). The second activity is designed to form a panel regression model using several sharing platform cases. Using the developed methodology, the revision of technological variables is carried out to expand the knowledge of economic science about the intensifying processes of the digitization of society, the resulting changes in consumption, and the redistribution of conventional economic solutions in the markets for goods and services. The authors compared the technological variables which had the highest impact on sharing platforms. The study results demonstrated that among ten sharing platforms, the highest dependence on technological variables is evident in the number of visitors visiting the Uber sharing platform.

‘Ergodicity Economics’ is Pseudoscience

In a series of papers (Peters, 2011; Peters and Klein, 2013; Peters and Gell-Mann, 2016; Peters, 2019), Ole Peters and his collaborators claim that the ‘conceptual basis of mainstream economic theory’ is ‘flawed’ and that the approach they call ‘ergodicity economics’ gives ‘reason to hope for a future economic science that is more parsimonious, conceptually clearer and less subjective’ (Peters, 2019). This paper argues that ‘ergodicity economics’ is pseudoscience because it has not produced falsifiable implications and should be taken with skepticism.

Features of Scientometric Results of a Russian Scientific Journal: the Case of the Scientific Direction “Economic Sciences” of the Bulletin of Chelyabinsk State University

The article presents the results of the use in the academic community of articles of the scientific journal Bulletin of Chelyabinsk State University in the direction of “Economic Sciences”. The study is based on data from the RSCI information system for 2018–2022. The total number of citations for each issue, individual articles, and the H‑index for issues and by year were calculated. The main trends and patterns in citing articles have been identified, including a three-year delay, passion for the topic of digitalization, inattention to articles by young authors and to international topics. The results of the study may be useful to editors of scientific journals for comparing the indicators of their journals with the one studied in this article, as well as for improving editorial policies.

Innovation, Technical Progress and Economic Development

The aim of the article is to show through a theoretical overview that there is an inextricable link between economic growth, technological progress, innovation and intellectual property. This connection has been realized since the dawn of economic science, by economist theorists who, even without mathematical models, and some of them even before a terminological and legal framework covering the matter was created, managed to prove that without innovations and technologization of production and labor skills, it is not possible to achieve sustainable economic growth. The relationship between innovation and economic growth is also depicted through the EC’s innovation development index, where the difference in assessment between the developed economies of the so-called “Western worldˮ and developing, commodity economies.

Optimization Examples for Water Allocation, Energy, Carbon Emissions, and Costs

The field of Water Resources Management (WRM) is becoming increasingly interdisciplinary, realizing its direct connections with energy, food, and social and economic sciences, among others. Computationally, this leads to more complex models, wherein the achievement of multiple goals is sought. Optimization processes have found various applications in such complex WRM problems. This entry considers the main factors involved in modern WRM, and puts them in a single optimization problem, including water allocation from different sources to different uses and non-renewable and renewable energy supplies, with their associated carbon emissions and costs. The entry explores the problem mathematically by presenting different optimization approaches, such as linear, fuzzy, dynamic, goal, and non-linear programming models. Furthermore, codes for each model are provided in Python, an open-source language. This entry has an educational character, and the examples presented are easily reproducible, so this is expected to be a useful resource for students, modelers, researchers, and water managers.

ОТ ЛОМОНОСОВА ДО НАШИХ ДНЕЙ. ЗАМЕТКИ О РАЗВИТИИ ЭКОНОМИЧЕСКОЙ НАУКИ В РОССИИ В КАНУН 300-ЛЕТИЯ РАН

The article, based on extensive factual material, presents the history of the development of economic science since the creation of the Russian Academy of Sciences in 1724. The role of the great Russian scientists M. V. Lomonosov L. Euler, D. I. Mendeleev and many others is revealed in the application of economic knowledge in the interests of strengthening the Russian state. The contribution of scientists from the economics section of the Academy of Sciences to solving specific problems of the country’s economic development at different historical stages is analyzed. The activities of the North-Western Section for Promoting the Development of Economic Science at the Department of Social Sciences of the Russian Academy of Sciences are presented. The significant contribution of the Institute of Regional Economics of the Russian Academy of Sciences to the implementation of fundamental scientific research and its practical implementation in the development of regional development strategies and the creation of a unique model for assessing and improving the quality of life of the population based on the use of quality economics tools is shown.

Walras and Tugan-Baranovsky on socialism: Reconciling economic science and social ideal

Nowadays, Leon Walras (1839—1910) is well-known first and foremost for his “Elements of pure political economy, or the theory of public wealth” (1874, 1877) and Mikhail Ivanovich Tugan-Baranovsky (1865—1919) gained a wide recognition due to his book “Industrial crises in contemporary England: Their causes and influences on the life of the people” (1894), which had a significant impact on the development of economics. At the same time, both economists were deeply concerned not only with theoretical problems, but also with those that are now considered beyond the scope of theory, the problem of social ideal and that of a more just social system being among them. Walras and Tugan-Baranovsky associated the embodiment of the social ideal with socialism and strived for an economic system that corresponded to that ideal, albeit their conceptions of socialism being different. The principal opportunity to achieve reconciliation between science and ideal was associated with a synthetic approach reconciling the scientific method and ideal, economics being considered “a bridge” between them, or a «testing ground», where the reconciliation was to take place. Although history has shown that Walras’s and Tugan-Baranovsky’s ideas of socialism were utopian, the very fact that two eminent economists were deeply concerned with the problem of social ideal and socialism at a time when the foundations of modern economics were being laid, shows that the striving of economists to create objective and rigorous science was, to a measure, driven by their aspiration to solve the social problem and to set up a social and economic system which is rational and more just than the existing one