Vol.10, No.4, November 2021.                                                                                                                                                                           ISSN: 2217-8309

                                                                                                                                                                                                                          eISSN: 2217-8333

TEM Journal

TECHNOLOGY, EDUCATION, MANAGEMENT, INFORMATICS

Association for Information Communication Technology Education and Science

Strategy for Balancing Interests of Business, Government and Society in the Field of International Trade in the Digital Economy

Ihor Nestoryshen, Yevhenii Rudnichenko, Serhii Shevchuk, Liudmyla Oliynyk, Nataliia Havlovska, Liudmyla Bohatchyk

© 2021 Yevhenii Rudnichenko, published by UIKTEN. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License. (CC BY-NC-ND 4.0)

Citation Information: TEM Journal. Volume 10, Issue 4, Pages 1572-1580, ISSN 2217-8309, DOI: 10.18421/TEM104-11, November 2021.

Received: 04 May 2021.

Revised:  23 September 2021.
Accepted: 29 September 2021.
Published: 26 November2021.

Abstract:

Global control of business by a state causes a conflict of interests and additional barriers to the development of international trade, which necessitates the formation of an appropriate strategy for balanced relations between business and society in the digital economy. Taking into account the main provisions of the agency theory, the choice of an effective strategy for interaction between state institutions and FEA participants requires the adoption of an effective toolkit for estimating such interaction. Using the main provisions of game theory, the study developed a corresponding game model, which includes three participants: state, economic operators, society. Based on the modelling of relevant processes, it was concluded that a state has 80 pure strategies, economic operators have 20 pure strategies, and society has 5 pure strategies, while results of a current game make it possible to determine the most advantageous situation of interaction for a state and economic operators.Thus, from the standpoint of regulating international trade, the issues of forming a balance of interests of all participants in this process allow to obtain positive results not only for specific business entities, but also for society as a whole.

Keywords –strategy, international trade, digital economy, balance of interests, game theory, model.

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