THE MECHANISM OF EVOLUTIONARY SELECTION OF FIRMS WITH DIFFERENT SOCIAL RESPONSIBILITY
Journal Title: Економіка розвитку - Year 2016, Vol 77, Issue 1
Abstract
Microeconomic systems operate in a rapidly changing turbulent globalized environment. It generates the problem of forecasting the dynamics of adjustment of such systems to the actions of both the rivals and the market environment as a whole. The traditional approach in microeconomics examines the equilibrium state of microeconomic systems, assuming perfect rationality, complete knowledge and instantaneous adaptation of firms to changes in market conditions. Also, in accordance with the classical approach, the purpose of the selfish firms in the market is to maximize their own profits. But the reality confirms that most of the time participants in microeconomic systems are in a non-equilibrium state and such systems react to the changes in the environment and actions of competitors with certain inertia. In the proposed model of microeconomic system, the goal of firms - reciprocators is getting a stable profit over a long-run period rather than profit maximization. To achieve this, both the firm profit and consumer surplus are included in the profit function of reciprocators.
Authors and Affiliations
V. Kobets , S. Diorditsa
Keywords
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- EP ID EP128539
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