In Romania there are large areas of unused pasture, which are well suited for the meat breeds and the geoclimatic conditions are favorable for beef. The beef breeds are more profitable than the milk ones. They have a yield of 65-70% cut, the meat quality is very good and the animals are not at...

A game-theoretical model of the investment value formation of the instruments of corporate control (shares or stakes in equity) is formulated and analyzed. It is shown that this value depends significantly on the allocation of equity among the owners, and the on the possibilities of the...

However much we appreciate the enormous scientific contribution by Professor Ronald Inglehart, who initiated the international data collection of the World Values Survey, our re-analysis of the very World Values Survey data [“roll-outs” of the World Values Survey data...

However much we appreciate the enormous scientific contribution by Professor Ronald Inglehart, who initiated the international data collection of the World Values Survey, our re-analysis of the very World Values Survey data [“roll-outs” of the World Values Survey data...

A model of the economic system with the property rights distributed among several agents is considered. The effect of property rights allocation on the economic efficiency of the management strategies is studied.

This article develops a theoretical framework to examine the relationship between land tenure agreements and households’ investment in land improvement and conservation measures. It then analyzes this relationship with a multivariate probit model based on a survey data from a sample of 560...

The goal of the paper is to investigate the extent of the influence of American antitrust tradition on the foundation and early years of European competition policy. This as part of a wider research program aiming at assessing the role of economic theory in the development of antitrust law and...

We analyze the effects of different regimes of control rights over critical resources on the total domestic income of open economies. We consider home control, foreign control, and international partnerships in a theoretical model where contracts are incomplete, resource exploitation requires...

The conventional view is that an increase in the value of a natural resource will lead private property to emerge. Many Igbo groups in Nigeria, however, curtailed private rights over palm trees in response to the palm produce trade of the nineteenth and early twentieth centuries. I present a...

We develop a model of scarce, renewable resources to study the commons problem. We show that, contrary to conventional wisdom, property rights can often be less efficient than a commons. In particular, we study two effects: (1) waste which arises when individuals expend resources to use a...