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Theoretical and methodological grounds of mainstream and their application in the context of shadow economy

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  • Reikin Vitaliy S.

    (Lutsk Institute of Open International University of Human Development "Ukraine")

Abstract

The goal of the article lies in the study of basic theoretical and methodological prerequisites and principles of modern mainstream and also possibilities of their application in the context of shadow economy. Analysing and generalising economic theories of Nobel laureates, the article considers problems of limited rationality, information asymmetry and opportunistic behaviour of economic agents. The article justifies preferences of the institutional direction as the most appropriate to real conditions of the market activity of subjects of shadow economy. Prospects of further studies are analysis and modification of the theory of economic crimes with consideration of specific features of the shadow component of national economy.

Suggested Citation

  • Reikin Vitaliy S., 2013. "Theoretical and methodological grounds of mainstream and their application in the context of shadow economy," The Problems of Economy, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), issue 4, pages 134-139.
    • Handle: RePEc:idp:redpoe:y:2013:i:4:p:134_139
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    References listed on IDEAS

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    3. K. Arrow., 2010. "Some Developments in Economic Theory Since 1940: An Eyewitness Account," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
    4. Grossman, Sanford J & Stiglitz, Joseph E, 1976. "Information and Competitive Price Systems," American Economic Review, American Economic Association, vol. 66(2), pages 246-253, May.
    5. W. Hands., 2012. "Normative Rational Choice Theory: Past, Present, and Future," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 10.
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