The paper examines one of the considerations that determines the extent to which policymakers pursue the objectives demanded by constituents. The nature and extent of their ignorance serve to determine the incentives confronted by policymakers to pursue their constituents' demands. The paper...

We develop a critique of government interventionism based on the Misesian calculation argument against socialism. If private property rights and relative prices based on supply and demand are necessary for successful economic coordination, then conventional market failure theories cannot be...

In many cases, the expected efficiency advantages of public-private partnership (PPP) projects as a specific form of infrastructure provision did not materialize ex post. From a Public Choice perspective, one simple explanation for many of the problems surrounding the governance of PPPs is that...

Four types of economics" relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...

Der Transformationsprozess Russlands von einer zentralstaatlich geplanten Volkswirtschaft hin zu einer Marktwirtschaft nach westlichem Vorbild liefert eine aufschlussreiche Fallstudie über die von William Baumol (1990) vertretene These der institutionellen Steuerbarkeit von produktivem...

The purpose of this paper is to analyze the effects of geography on the transition process in authoritarian political regimes, and to investigate the nature of the links between political change, economic reforms and geographic location. A simple model of transition and democratization is...

After January 25th 2011 Egypt witnessed political, economic and social instability leading to drastic consequences in the hospitality and tourism industry. Thus unstable situation reflected on the deteriorated occupancy percentages that led to declined profit margins, higher employee layoffs and...

Using information from two complementary household survey data sets, we show that the dominant form of labor market adjustment in the Russian transition process has been the delayed receipt of wages. More than half the workforce is experiencing some form of disruption to their pay. Wage arrears...

War has raged in Sudan since April 2023 following fundamental changes in the political balance of power in recent years. The previously dominant security sector is deeply divided and the once weakly organised civil society has mobilised. Competition within the security sector made it possible to...