The St Petersburg paradox could be used as an extreme demonstration of the utility function cardinalisation in case of stochastic utility. In this article we reassume the von Neumann and Mongernstern explanation to this paradox based on the risk aversion expressed by the strict concavity of the...

The article deals with sex discrimination prohibition in the European community law as well as in the Czech law and it describes antidiscrimination juridical practise in the Czech Republic. It judges selected institutes of the antidiscrimination act from the point of view of their economic...

The author raises doubts about a sense of "catching up" and an idolatry of HDP´s growth. His argumentation is based on the longitudinal international research of the link "economics-happiness" at the frontier between economics and psychology. The rationality of economic science "more is better"...

The article describes the nature and importance of the concept of private property. It traces back the logical necessity of the respect for property as a safeguard of both peace and prosperity. Then, it surveys arguments in favor of intellectual property that allegedly coincide with those of the...

The author addresses the question of interdisciplinary studies based on his own experience. His negative experiences are confirmed by the results of a quantitative survey demonstrating that the proportion of citations from other disciplines is very low in four examined fields (economics, law,...

The article presents Max Weber as an economist. Weber's relation to economics is discussed. His inaugural speech in Freiburg "National State and Economic Policy" (1895), "Lectures on General (Theoretical) Economics" (1898), writings about stock exchange (1893-1898) as well as his article...

Currently, if speaking about the theoretical background of the environmental policy, most of environmental economists have neoclassical economics in their minds. State regulation of private activities by means of restrictions, commands, taxes and fees is usually seen as the only one way to reach...

This paper inquires into beginnings of a gift economy as well as related contemporary institutions. Gift economy and the gift as a complex phenomenon was a common base for institutions of markets, credits, taxation, alms or social security. Inquires of origins, development and contemporary forms...

Doubts about the intrinsic value of economic performance are nothing new (T.Scitovsky, J.Galbraith). The paper starts with a criticism of „catching up“ models and a „puzzle“ of East Germans dissatisfaction with a rise of welfare after the Berlin wall’s fall. Author provides a sketch of...