Applicants for any given job are more or less suited to fill it, and the firm will select the best among them. Increasing the wage offer attracts more applicants and makes it possible to raise the hiring standard and improve the productivity of the staff. Wages that optimize on the trade-off...

Economics of discrimination has been the topic of interest of many in the last decade or two. Human capital theory describes wage determination as a function of labour human capital and should be determined based on marginal productivity theorem of labour economics. Islamic theology also...

This paper deals with the electricity reforms (1990-1996) in three Scandinavian Couiitries: Norway, Sweden and Finland. Of Special importance for the efficiency in the sector is the question, whether the re-regulation of the electricity transport business is accompanied by a comprehensive...

Germany’s system of economic and political governance strongly relies on group decision-making and consensus to solve economic issues. This approach relates to a wide spectrum of decisions, including the social partners with the trade unions and the employers’ associations in wage formation,...

This paper deals with the German government's proposal to Iiberalize the domestic electricity supply industry. The government bill aims to establish a retail wheeling model in the electricity transmission and distribution System. The Opposition against this model mainly comes from the publicly...

Six main characteristics of an economic order are discussed and empirically evaluated for the case of Slovenia. All of them pertain to the institutional setting ab urbe condita; they comprise the legal and jurisdictional situation, the role of private property, the institutionalised strive at...

The paper investigates the recent trends in privatization by local government organizations in Germany. It comes to the conclusion that the privatization policy has been two-directional: on the one hand, municipalities have reduced their economic activities, mainly by different forms of...

This paper deals with the efficiency characteristics of alternative governance structures in the electricity sector. The analysis begins with the description of some technical aspects of the electricity supply industry. The goal is to identify the main co-ordination tasks within, and between the...

This year legal activities were started which are meant to lead to a higher integration of the electricity supply industry in the European Union. It is intended to liberalize the national markets simultaneously restraining the influence of the national governments. This article provides an...