Macroeconomic policies are designed to reach real economic targets like: lower employment and inflation rate, increasing output, balance of payment equilibrium, and so on. There is no unique model to choose the appropriate policy in a real context. That depends on too many influence factors –...

Nover and Hájek (2004) suggested a variant of the St Petersburg game which they dubbed the Pasadena game. They hold that their game ‘is more paradoxical than the St Petersburg game in several aspects’. The purpose of this article is to demonstrate theoretically and to validate by...

We characterize the class of symmetric two-player games in which tit-for-tat cannot be beaten even by very sophisticated opponents in a repeated game. It turns out to be the class of exact potential games. More generally, there is a class of simple imitation rules that includes tit-for-tat but...

This paper aims at discovering the decision rule the Governing Council of the ECB uses to set interest rates. We construct a Taylor rule for each member of the council and for the euro area as a whole, and aggregate the interest rates they produce using several classes of decision-making...

This paper aims at discovering the decision rule the Governing Council of the ECB uses to set interest rates. We construct a Taylor rule for each member of the council and for the euro area as a whole, and aggregate the interest rates they produce using several classes of decision-making...

Purpose – After many years of researching data for thousands of companies the authors identified a population of 377 exceptional companies in two categories: 199 Miracle Workers, or the best of the best, and 178 Long Runners – still exceptional, but at a lower level. This paper aims to...