STRATEGIC BEHAVIOR AS THE CAUSE OF BUSINESS CYCLES

Authors

  • Jan Vorlicek College of Business and Law, Czech Republic Author
  • Klára Čermáková Prague University of Economics and Business, dept. of Economics, Czech Republic Author

DOI:

https://doi.org/10.20472/ES.2017.6.1.003

Keywords:

Business cycles, Strategic cycles, Games theory

Abstract

This paper is aimed to present theory of “natural strategic cycles” showing that the cyclical development of economic performance (among other causes economic theory has been processed) can be caused also by cyclical evolution of the proportions of various strategies used by different actors in society. We use game theory as theoretical background. The existence of various games gives us an explanation of why there are so many different cycles with different duration. We assume that the theory of strategic cycle can be used to explain e.g. speculative bubble on stock exchange or long-term cycles that are still somehow difficult to grasp.

 

Data:
Received: 10 Feb 2017
Revised: 2 Apr 2017
Accepted: 6 May 2017
Published: 20 May 2017

Downloads

Download data is not yet available.

Downloads

Published

2017-05-20

Issue

Vol. 6 No. 1 (2017): International Journal of Economic Sciences

Section

Articles

License

Copyright (c) 2017 Jan Vorlicek, Klára Čermáková (Author)

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

Vorlicek, J., & Čermáková, K. (2017). STRATEGIC BEHAVIOR AS THE CAUSE OF BUSINESS CYCLES. International Journal of Economic Sciences, 6(1), 33-40. https://doi.org/10.20472/ES.2017.6.1.003
Crossref
Scopus
Google Scholar
Europe PMC