DEVELOPMENT MODELLING FOR INDIA IN THE PRESENCE OF STRUCTURAL DUALISM AND INCENTIVE INCOMPATIBILITY: AN APPROACH THROUGH APPLICATION OF STOCHASTIC PROCESS


Santosh Nandi, Sugata Sen
Panskura Banamali College (Autonomous) , Research Centre in Science, West Bengal
Abstract
In India it is observed that due to rural-urban duality the rural areas fail to participate in the development process properly. One of the way outs to overcome this structural duality is decentralized participatory planning. But decentralised participatory planning suffers from serious problems related to implementation. Apart from many reasons behind the implementation problem it is the incentive incompatibility which creates serious impediments in the path towards the said implementation. Unless this problem of incentive incompatibility is minimized the idea of decentralised participatory planning will not be able to implement itself successfully. This type of inclusive decentralised planning can help India to become a super power through the path of holistic growth. To wipe out the structural duality it is needed to evolve a method where the problem of incentive incompatibility is minimized along with accommodating the preferences of beneficiaries with in the top down method. This work wants to show that the problem of incentive incompatibility can greatly be minimized through the application of stochastic computing within the bottom-up participatory planning. To that respect an interface model has been developed with the help of stochastic process under the current study. Subsequently the developed model is tested over a sample collected through primary survey. It is found that the stochastic process converges to an identical row vector after certain iterations. This convergence says that the social choices converge to homogeneous beneficiary preferences after a series of social interactions. This study shows that, as the choice pattern of the society becomes non-probabilistic or certain, so the problem of incentive incompatibility along with structural dualism can be successfully minimized with the help of Object Oriented Paradigm.
Keywords: Rural–urban Dualism, Incentive Incompatibility, Object Oriented Paradigm, , Interface Planning, Stochastic Process
Journal Name :
EPRA International Journal of Agriculture and Rural Economic Research (ARER)

VIEW PDF
Published on : 2024-06-29

Vol : 12
Issue : 6
Month : June
Year : 2024
Copyright © 2024 EPRA JOURNALS. All rights reserved
Developed by Peace Soft