As a professional sport, professional football teams in a league compete in imperfect market conditions since every team in a professional football league may be known by their differentiated product (i.e. the quality of football they play). If the competition level increases, the quality of...

We deal with tastes and preferences, revising the linkages between both in order to analyse the special case where we express preferences to goods that do not appeal to us. We deduce the concept of a deconstructed demand and define two types of goods (embarrassing and reputable). With the help...

This study is primarily concerned with the degree of professional football competition in the Turkish first division football since its establishment. Moreover, this article aims to find the optimal number of football teams in a league as well as presenting the effects of the changes in point...

The performing arts sector is also capable of being studied from the point of view of economics. Having this into account we focus on its relation resources/products and on the concept of efficiency as one of the components of the productivity, analyzing the period 1995-1999 in order to...

Exploiting small uncertainties on the part of opponents, players in long, finitely repeated games can maintain false reputations that lead to a large variety of equilibrium outcomes. Even cooperation in a finitely repeated prisoners' dilemma is obtainable. Can such false reputations be...

Our survey of private manufacturing firms finds the size of hidden ‘unofficial’ activity to be much larger in Russia and Ukraine than in Poland, Slovakia and Romania. A comparison of cross-country averages shows that managers in Russia and Ukraine face higher effective tax rates, worse...

The rate at which police officers were murdered rose over the 1960s, although expected penalties also grew more severe. During that period, a subjective index indicates, arrest suspects may have become more prone to commit crimes for impulsive or political reasons rather than out of rational...

This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries. Estimates of the amount of foreign currency in circulation (FCC) in transition countries are used to develop a new comprehensive dollarization index (CDI) and separate indices...

This paper, a synthesis of salient findings of the authors’ book entitled “Investment Climate Around the World: Voices of the Firms from the World Business Environment Survey”, and based on a chapter in “Pathways Out of Poverty: Private Firms and Economic Mobility in Developing...

In the standard moral hazard model, withholding of effort by the agent is not observable to the principal. We argue that this assumption has to be changed in applications that study corruption. The overwhelming majority of cases where corrupt politicians have been punished involve the detection...