Application of Randomized Probabilities Method to the Expert Estimation of Consequences of Russia’s Joining the WTO
Abstract
We propose to model Russia’s joining the WTO as a set of scenarios, organized in an oriented tree structure, and to estimate conditional probabilities and scenario probabilities based on the expert non-numeric, inexact and incomplete information. A detailed description of scenario probabilities estimation for electricity industry is presented.
Keywords:
WTO, expert system, imprecise probabilities, event tree
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.