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A formal definition of national economy size is given based on a mathematical definition of value that, in turn, originates in a vector programming model of value formation during satisfying economic agents' demands. There are two views of the size: total value of all goods in the economy and a number of people whose being can be supported by the economy by means of the technologies that are available in its actual state.
Access: on-line, PDF document (in Russian). UDK 330.115:336.748:63.001.573.

The opportunities to review the value theory are identified that resulting from findings of L.V. Kantorovich, A.L. Lourier, V.S. Nemchinov that are barely known outside Russia.
Access: on-line, HTML document (in Russian). UDK 330.133/.138:63.001.

A new method of micro-economic models applied to value theory is developed, which is based on the reciprocity theory and balance systems approach. The following problems are solved: the difference of value and price is precisely formulated; the dependence of preferences on value and the dependence of value on technological capabilities of an economy are discovered; mathematical formulation of a size of an economy is derived; the method of economic regulation is suggested that is based on influence of information on preferences. The new concept of value, which is presented in the brochure, interprets value as a cybernetic phenomenon. It explains how the processes of goods transformation become apparent in the relations between persons.
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A model is presented explaining value formation by means of an exchange process in a market economy. A formal condition of exchange possibility is formulated for this model. To investigate the relation between Lagrangean multipliers (interpreted as values) and local properties of the technological set in Pareto optimum with respect to economic agents' demands, the functional matrix of the model is rewritten as a balance system and the theorem about balance system is applied. 
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The model of exchanges in a competitive economy is developed that is based on an economic agent model who maximises the levels of satisfying his demands. The existence of a weak tendency to formation of value is shown. The interrelation between value and (a) technologies, (b) shadow prices in basic microeconomic models is studied by means of balance systems formalism. The role of preferences in value formation is argued to be smaller than it is commonly acknowledged. The demographical and teleological determinants of value are identified and studied. It is shown that the pure market does not guarantee the correspondence of value ratios to the teleological determinant. One of the consequences is too low values of labour and of agricultural production in Russia, a shortage of short-term capital on agricultural firms. The solutions are discussed that allow overcoming the negative impact of this shortage.
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The detailed abstract of (108).
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Arrow-Debreu general equilibrium model is extended by means of a set of not very demanding assumptions. This allows the methods of balance systems analysis to be applied. It is shown that, given the assumptions, Arrow-Debreu model displays the same dependence of value on commodity inputs as in the models described in (105) and (106).
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On the basis of researching into theoretical models of competitive economy an approach was suggested solving the problems of agriculture rooted in distorted system of prices. It envisages the propagation of information on recommended prices of strategic goods in combination with arrangements on management of demand, supply and investments; program for the accumulation of working capital by agricultural enterprises; actions on increasing land prices.
Access: on-line, PDF document (in Russian). UDK 631.15.33.

The monograph gives an insight of transitional problems from the point of view of political economy. Chapter 10, which is authored by me, introduces vector programming models as means of theoretical analysis of social reproduction process considering an aspect of preferences reproduction. Three transformations of preferences are brought to light that are caused by information generated by production, exchange and accumulation processes. Opportunities to correct preferences in order to make economic development more stable are identified.
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Current regulating policies are aimed at eliminating negative effect of market failures and at controlling macroeconomic stability, but they do not sufficiently facilitate long-term aims of human being. A method of soft economic regulation making use of endogenous nature of preferences is suggested that is aimed at eliminating risks of terminating being of a civilised society in a long-run outlook. The key element of this method is informational control actions, in particular disseminating information about admissible values of strategical commodities, allowing a society to form such preferences of its members that conform the global economic efficiency criterion based on the concept of sustainable development.
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The research of low opportunity cost of agricultural land that is typical for Russia shows its influence on the level of agricultural production intensity, on its organisational forms and on pruduction relations in the sector. The necessary regulations are proposed aimed at raising land prices.
Access: on-line, PDF document (in Russian). UDK 631.15.333.013.2.

The modelling approach is suggested that allows representing value formation in a competitive economy under uncertainty about technologies. As it was shown, an effective algorithm of decision making in this case is based on using as economic agents' behaviour criteria some linear operators based on actual market prices adjusted for known information about forthcoming technological changes.
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An information process in a market economy is studied that decreases an uncertainty of preferences by the instrumentality of information generated by production, exchange and investment processes. It is shown that the preferences in market economy should be a subject to cognitive control.
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The paper is actually a slightly edited part of (108), presenting a system of models of the theory of value and identifying outlines of its development.
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The relation between prices and total production costs in agriculture is studied using the data of Russian input-output tables. The smaller the share of output in gross production the more precise the correlation of total production costs and prices. When the output is defined as labour force reproduction requirements, the total labour expenses are found to be identical to price values.
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The mathematical approach developed in (105) is expanded by considering externalities. The assumptions are identified that allow formation of common value in presence of externalities. The decision making process under externalities is shown to be similar to one under technological uncertainties (125). Access: on-line, PDF document (in Russian).

The existence of internal reserves of stabilisation of reproduction process in Russian agriculture is justified. To engage these reserves, the suggestions are given aimed at re-accumulation of turnover assets of agricultural corporate farms and at increasing agricultural land prices. Based on land prices analysis, the economically justified structure of agricultural land with respect to ownership types is foreseen.
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The monograph spans theoretical and practical problems of value-related interactions in agriculture with special attention to their regulation. Particularly, there are presented the process of value formation, the realization of value in gross production costs, the methodology of measuring and analysis of gross production costs, the influence on agriculture of land value, of intersectoral redistribution and of shortage of turnover capital.
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Gross amount of import consumption in Russian economy in 2001 was 3,56 times smaller than the national production of exported goods. To some extent this is caused by the need to repay foreign debts, including those of USSR. The article justifies another reason: insufficiency of international market prices, which predefine profits of foreign traders, to the technological structure of Russian economy. This causes its weak ability to productively use the goods that can be bought at  the world market in exchange to the foreign trade inflows.
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The results of (105) are summarized regarding to technical determination of value. A new definition of rent is given applicable to a technology. The terms «marginal technology» and «rent generating technology» are introduced. It is shown that the inverse matrices of marginal technologies and of rent generating technologies are identical. Interpretation of commodity value in terms of working time of an economy is justified.
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Annotation for (189).
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The paper analyses causes of ambiguous conclusions of studies approaching relations between market prices and expenses of natural inputs. A more meaningful formulation of the theorem on infinitesimal determinant (called the theorem on balance systems before 2006) is given. Based on author's definition of rent, a new approach to value analysis using input-output model is introduced. Following it, equilibrium prices are obtained from a dual system of input-output equations describing marginal technologies only, so to derive value added of gross technologies. An approach to measure sensitivity of value is suggested by means of principal minors of input-output equations describing marginal technologies.
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The content of the paper is similar to (184).
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A more stringent proof of  the theorem on infinitesimal determinant (called the theorem on balance systems before 2006) is given. The difference between Leontief's total expenditure coefficients and prices is explained (with an infinitely small deviation) by a superposition of value added per unit of total output and amount of net output. An approach is proposed that allows quantifying technical and redistributional impacts on price system.
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The paper presents an evidence of the hypothesis about domination of financial factors in price setting on the oil market by means of econometric model. Its parameters are estimated by generalized maximum entropy method. Two components of this model reflect the fundamental difference between the situation of intensive growth of oil prices in 2001-2008 and their growth during the second oil shock at the end of 70’s. The results of the research could be used as a theoretical base for government decision making in monetary policy at the federal level, particularly concerning market of derivatives and in short-term forecasting of oil price on the world market.
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on oil prices made in this paper. This is the fault of mine and should not be extended to the co-author.
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The paper shows that the basis of a competitive advantage of national economy is overall time savings on production of a unit of a commodity when this unit is produced in a specific national economy. Regulated formation of endogenous consumers' preferences may help increasing competitiveness of output of a national economy at the world market.
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It is shown that the earlier oil shocks had happened under a shortage of arbitrage capital in contrast to the latest one, which took place in the conditions of excess arbitrage capital. This explains the opposite reaction of the oil prices on the same factor changes. The hypothesis is justified about ascendancy of financial factors over the oil prices. To test this hypothesis, a simplistic regression model is applied. The study (196) extends these findings.
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on oil prices made in this paper. This is the fault of mine and should not be extended to the co-author.
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For the purpose of studying influence of financial factors on wheat price in the market of USA an econometric model is applied that endogenously classify years with regard to saturation of the market with arbitrage capital. Parameters of the model are estimated by means of generalized maximum entropy method (GME). The model supports the hypotheses about substantial influence of financial variables on price setting in the wheat market and about opposite direction of this influence in presence of either shortage or saturation of the arbitrage capital.
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on wheat producers' prices in the USA made in this paper.
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The article is aimed at enlightening the properties of price mechanism in the post-industrial economy that hamper its self-regulation. Promising research areas are defined, which relate to improving regulatory processes.
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An econometric model of annual oil price dynamics is developed allowing for the endogenous classification of years with regard to the concentration of arbitrage capital in the oil market. Parameters of the model are estimated by means of the maximum entropy method. It is proved that during 1977-2007 financial factors had ascendancy over the oil prices. This effect had an opposite direction under excess and a shortage of the arbitrage capital in the oil market.
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on oil prices made in this paper.
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The invited paper presents the findings of (205), augmented with newer results from (220).
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on oil prices made in this paper. This is the fault of mine and should not be extended to the co-author.
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The invited paper presents the findings of (205), augmented with newer results from (220).
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on oil prices made in this paper. This is the fault of mine and should not be extended to the co-author.
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Computer simulation is applied to study the behaviour of a system controlled by the preferences type III (see (121) for definition). Existence of stabe preferences structures is shown such that changing these preferences is only possible via violation of Pareto optimality.
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The monograph develops a theoretical and methodological framework for studies of the signal system in the market economy. Its features: (i) mathematical description of forming unified market agents' notions about commodity values as a result of bargains; (ii) analysis of interrelations of the formed value ratios to the natural commodity expenses by the instrumentality of balance systems methodology. The developed framework applied to the theory of market economy operations enriches it with the following new concepts: (i) the information process is discovered that facilitates conjoint formation of agents' preferences and their notions about commodity values; (ii) it is shown that the commodity values are proportional to the time consumption of the economy's operation that is necessary to produce the specific commodities; (iii) emergence of the technical rent is represented in terms of balance systems; (iv) constraints are identified that hamper co-ordination between the commodity values and objectives of the economy; (v) the background of soaring price volatility is brought to light. The monograph attempts to establish the base for the forthcoming studies aimed at establishing the institutions of the post-industrial world that could improve the signal system making possible the economy's self-regulation.
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on oil prices made in this paper.
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The article presents the results of computer simulations using a three-branch model of economic dynamics based on (208). The variance of firm's profitability is proved to significantly influence the stability of economic dynamics. Evidence is found in favour of the hypothesis about influence of branch-specific monetary policies on prices.
Access: on-line, PDF document (in Russian). UDC 681.3.06:519.866.2

By the instrumentality of the balance systems method the conception of emerging rent is justified with special attention to interaction of branches of the economy. In particular, the rental effects of the monopoly of private property on a non-reproducible commodity are concerned. 
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The detailed description of the system dynamics model of a monetary union of three economies and the results of computer simulations are presented. The model is based on the developments of (208). The major conclusion is that in the quasi-stationary regimes the prices can stabilize at non-dynamic-equilibrium ratios. Non-equilibrium financial balance is secured by different intensity of credit issue in the three economies. The commodities are balanced due to their underutilization.
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The monograph is aimed at investigation of the value and price formation process in agriculture, considering the role of the prices as a feedback within the agrarian economy. Based on the original formalization of the information processes resulting in the price formation, on one hand, and the classical general equilibrium theory, on another hand, the dependencies in the agrucultural markets are specified, value factors of crisis in 1990s are enlightened, substantial role of the level of the land rent in forming the system of agricultural production is grounded. The target group of the book includes agrucultural economists and managers of agricultural enterprises, researchers, graduate and postgraduate students specialized in economics.
Extended studies, which were undertaken in year 2018, rejected the conclusion about the influence of financial market on wheat producers' prices made in this paper. This is the fault of mine and should not be extended to the co-author.
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The methodology aimed at investigating the causes of emerging the rent is enriched with the balance systems method. This method allows for changes in the interaction of markets and in the gross resourceness of commodities caused by the rent emergence. By its instrumentality the rental effects of the monopoly of private property on a non-reproducible resource are described. It is shown that in absence of other changes in the economy the restrictions on productive use of the non-reproducible commodity can increase neither balance value of the stock of this commodity nor the rent from this stock. However, it is possible that both balance value of the stock of another non-reproducible commodity and the corresponding rent can raise as a result of such restrictions, providing that both commodities are used in the same production process. The conditions are derived that allow the monopoly of private property on the non-reproducible commodity to launch the processes resulting in emerging such rent regardless to both the natural properties of the commodity and the competitiveness of its market.
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The authors investigate the opportunity of synthesis of the classical and neoclassical value theories on the base of conjoining the concept of the relative value introduced by R.S. Gaisin and the theory of formal balance systems, which combines the mathematical approaches of equilibrium theories and production cost theories.
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A brief presentation of the findings published in [273].
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By means of the simulation model of monetary policy the qualitative features of system dynamics of a monetary union are discovered. They include a stable deviation of a trajectory of the modelled system from the dynamic equilibrium, which is accompanied by incomplete utilization of resources, and an inverse interconnection between stability and efficiency of the system.
Access: on-line (on the site elibrary.ru), PDF document (in Russian). UDC 336.012.23:338.517.

Theoretical justifications are presented with regard to the hypothesis about the tendency to inefficient equilibriums in competitive markets. An idea of an institute is discussed which could help avoiding inefficient equilibriums.
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A two-level simulation model is applied, which is composed of economy-specific models of credit issue and coordinating mathematical programming problems describing trade and financial connections between the economies on each step of the model time. The prices that are formed within this system are found to persistently differ from dynamic equilibrium prices and to be sensitive to monetary policies held in each economy. Financial equilibration is secured by uneven contribution of the economies to the overall money supply. A substantial part of production output cannot be sold. The simulated system is characterized by weak controllability due to the inherent effects of non-linear dynamics.
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292.

Projecting institutions to secure an efficient equilibrium in the agrarian markets

publ.

Nikonov's lectures-2014: Proceedings of XIX international scientific and practical conference: Theoretical and methodological problems of measuring, forecasting and management of food security: September 25-26, 2014. Moscow, 2014. P.117-119.

7

The recommendations are developed on establishing institutions that secure the controlled dynamics of prices pushing the consumers' choice towards an efficient equilibrium.
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294.

Inefficient equilibriums in a market economy

publ.

System modelling of social and economic processes: Annotations to the presentations made on 37th international scientific seminar. Voronezh: Publishing centre of Voronezh state univ., 2014, p. 114.

2

A summary of the presentation at the above mentioned seminar.
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295.

Countryside and a market: how to control prices in favour of agriculture?

publ.

The present and the future of Russian agro-industrial complex: Proceedings of V All-Russian Congress of agricultural economists (November 21-22, 2013). Moscow: Rosagrotech, 2014. – Vol.I, p.174-177.

13

The background of the statements of neo-classical microeconomics is analyzed that lead to the conclusion about unreasonableness of intervention into operation of the price mechanism. The author's analysis argues the recommendations on adjusting value ratios in favour of agricultural production without hampering basic institutions of market price setting.
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296.

Worth and value: the roadmap for synthesis between the classical and neoclassical theories

publ.

The philosophy of economy, 2014, №5, p.102-124.

40

R.S. Gaisin

The paper broadens the theoretical ground of synthesis between the classical theory of worth and neoclassical theory of value in two directions. The first dimension is an interpretation of worth following the 3rd value of Marx's “Capital” as a relative equilibrium variable. The second is an application of the theory of abstract balance systems to establishing an equivalence between the ratios of expenses of abstract labor and the ratios of worth. It is shown that the worth defined in quantitative terms as a relative measure of expenses of socially demanded working time acts as an objective measure of social welfare, which is determined by the society by means of production and market . Complementarily, the dimension of marginal utility deepens understanding of worth as a social evaluation of the utility from the viewpoint of total social expenses of working time.  
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309.

Inefficient equilibriums in a market economy

publ.

System modeling of social and economic processes: Proceedings of the 37th international scientific seminar. Voronezh: VSU publ., 2014, p.483-486

6

A non-linear input-output model of a closed economy is studied, which assumes all the consumption to be productive. Computer simulations discover prevalence of inefficient equilibriums in the model. Models of an open economy, including Arrow-Debreu model, retain adequacy only in the presence of agents, whose consumption does not affect technologies.  If, contrarily, the technologies must completely utilize all the production, the model must have at least one technological set to be analytically derivable from others, thus reflecting influence of consumption structure on the technology. As soon as such influence exists in reality (consumption of educational services is an example), such models appear more realistic, thus limiting prescriptive capacity of the first theorem of welfare economics.   
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319.

НInefficient equilibriums in an input-output model with excess inputs

publ.

Proceedings of Timiryazev Agricultural Academy: Issue 286, vol. II. Moscow.: MTAA publ., 2015. P.296-298.

3

Existence of inefficient equilibriums is observed on the Neumann arrow of the Leontieff type model such that the goals of the economic activities reveal themselves as the surplus expenses above the technically conditioned minima. The ae-one transformation of the equilibrium price vector on the gross output vector is found in the model, which substantiates the usefulness of price regulation in the modelled economy.  
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© N.Svetlov, 2001-2018.
April 26, 2018.