Vazhenina, I. S., Vazhenin, S. G. & Sookhikh, V. V. (2018). Features of Competition of Territories for Confidence. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 15(3), 481-487
The authors of the article consider the competition of territories for confidence as a significant factor determining the process of promoting the territory, its organizations and goods produced on it. Confidence is a crucial aspect for choosing the counterparty on all levels: choosing a territory (for residence, business, investment, etc.), selecting the companies-partners for joint business, obtaining goods/services, etc., choosing goods and services for personal consumption, etc. The authors give their own definition of competition for confidence. The article shows that confidence is the most important intangible asset of a territory, emerging in the process of creating its attractive image and positive reputation. The territory is a multi-useful value — specific product that has a feature of multi-faceted usefulness. The authors argue that the united efforts of the territory and economic agents of the territory provide a synergistic effect on the process of promotion of the territory, companies and goods/ services produced by the companies. Research on the problems of competition for confidence between countries, regions and cities show that the Matthew effect is always observed. The authors, using the factual basis, analyzed the Matthew effects towards the relation to territories that compete for confidence. The authors specified the features of the confidence phenomenon that can help a non-competitive region to strengthen their positions. We indicated factors that help territories to neutralize the Matthew effect and become leaders in particular aspects.