The outcome of the economic performance of individuals is utilised in the form of consumption and consequent welfare. Despite this truism, there is relatively little information available on household consumption behaviour in Hungary stemming from investigations based on economic theory. The...

In this paper we analyze whether people who spend money on experiences rather than material things are more satisfied. Previous psychological studies have several drawbacks, and therefore their results might be biased and unreliable. Trying to avoid these drawbacks in this research we use...

This paper applies revealed preference theory to the nonparametric statistical analysis of consumer demand. Knowledge of expansion paths is shown to improve the power of nonparametric tests of revealed preference. The tightest bounds on indifference surfaces and welfare measures are derived...

The outcome of the economic performance of individuals is utilised in the form of consumption and consequent welfare. Despite this truism, there is relatively little information available on household consumption behaviour in Hungary stemming from investigations based on economic theory. The...

n this paper we analyze whether people who spend money on experiences rather than material things are more satisfied. Previous psychological studies have several drawbacks, and therefore their results might be biased and unreliable. Trying to avoid these drawbacks in this research we use...

Elias Khalil's "Information, Knowledge and the Close of Friedrich Hayek's System," argues that an internal contradiction exists within Hayek's political economy relating to his use of information and knowledge. As a result, Khalil argues that neither Hayek's critique of planning nor his defense...

Over the past two decades, an enormous amount of work has been done to improve the Expected Utility model. Two areas have attracted major attention: the possibility of describing unforeseen contingencies and the need to accomodate the kind of behavior ref

The paper deals with the story of the cumulative risks of a successful research concluded in China in which I both participated and was its leader. The topic of the research was the impact of the global crisis on government, enterprises and migrant behavior. The fieldwork included in the two...

The new Labor Code passed by the Parliament in 2012 has been the most important change of the regulation of labor relations in Hungary since 1992. This report summarizes the main results of a field work research which was managed by the Institute of Economics HAS and financed by the LIGA Trade...