Federation is one type of state characterised by a contractual and constitutional structure, multilevel power redistribution, a written constitution, and duality of power. Federalism is a philosophy and a political instrument enabling a federation to function. The principle of federalism is an...

Our rapidly changing world has been challenging insurers to keep the pace. Given the qualitative changes in risk trends, the insurance industry has encountered a problem of insurability limits and shifting boundaries of the private insurance sector. The possibilities of covering enormous...

This article deals with the issues of different theoretical approaches to education. Education is seen as a tool, how to distinct different marginal productivities of employees. We start from the fact of an information asymmetry on the labour markets, asymmetry between employers and potential...

The article contests an argument that the creation of a capital market in educational "human capital" and subsequent voluntary transactions on this market are sufficient to create equal opportunities in education, consequently reducing the income premium enjoyed by households with higher initial...

The authors of the article point out that the theory of economics has failed to yield a solid theoretical background in such critical situations as the period of the current fi nancial and economic crisis and the transformation period of post-communist economies. Mainly present crisis opens the...

The aim of the paper is to apply a theory of asymmetric information to managing production risk in agriculture. The second part of the paper is devoted to the tools for reducing the information asymmetry - parametric products (weather derivatives, index insurance). The results are based on...

We examine a strategic-choice handicap model in which males send costly signals to advertise their quality to females. Females are concerned with the net viability of the male with whom they mate, where net viability is a function of the male's quality and signal. We identify circumstances in...

This article is dealed about the requirements on new architecture of financial markets, namely for banking and insurance market. The principles of Basel II and Solvency II are discussed. The second part of article concerned with quality changes in comercial insurable risk and financial decesion...