The paper describes process of electricity market liberalization, and concentrates on one phase - unbundling. First part sums up findings on electricity market liberalization, and explains unbundling principles, initial situation and expected outcome. In the second part unbundling costs are...

The article solves the incentives to the different exchange rate arrangement choice during the transformation and integration period in the Central and East European countries. It follows with the analysis of the industry structure in these economies. It is discussed the existence of its direct...

This article explores development of the industrial structure of the Czech economy in the last ten years from the point of view of the gross value added and employment. It goes from the macroeconomic view at the level of the basic sectors to more detailed view focused on the individual branches....

This paper pits expected utility theory and cumulative prospect theory against each other as regards their descriptive accuracy. Some older as well as newer pieces of evidence are described which show that under certain circumstances, expected utility theory is not descriptively valid. The most...

This paper summarizes the major events in the recent history of modelling human decisions under risk. After presenting the basics of expected utility theory, the key pieces of evidence are described which showed that under certain circumstances, this theory is not descriptively valid. The most...