In this paper, I propose a one-step nondegenerate test as an alternative to the classical Vuong (1989) tests. I show that the new test achieves uniform asymptotic size control in both the overlapping and the non-overlapping cases, while the classical Vuong tests do not. Meanwhile, the power of...

Background: Economic research on hospital palliative care faces major challenges. Observational studies using routine data encounter difficulties because treatment timing is not under investigator control and unobserved patient complexity is endemic. An individual's predicted LOS at admission...

This paper presents a case of parsimony and generalization in model comparisons. We submitted two versions of the same cognitive model to the Market Entry Competition (MEC), which involved four-person and two-alternative (enter or stay out) games. Our model was designed according to the...

After its launching in 1999 and rather successful decade-long performance, the euro-zone entered in 2010 into its first and extremely profound crisis. The crisis has been dragging on for almost four years and there isstill a lot of work to be done in order to reach a comprehensive and...

Keynes' mathematical Treatise addresses what some call "radical uncertainty", which he thought endemic in world affairs and whose appreciation underpinned much of his later work. In contrast, the mainstream view in economics, as elsewhere, has been that even if radical uncertainty exists, either...

The current article is aimed at surveying the strategic moves of high performing local industrial organizations that officially shared some aspects of their business achievements with local communities, participating in the surveys of leading periodicals in Bulgaria. It reveals that business...

The current article unveils and analyzes some important factors, influencing diversity in strategic decision-making approaches in local companies. Researcher’s attention is oriented to survey important characteristics of the strategic moves, undertaken by leading companies in Bulgaria.

In many organizations in Serbia a crisis can be seen, which manifests through decrease of market share and profitability, increased indebtedness, inadequate investment and multiplication of new business projects at the expense of a primary business. The crisis symptoms are characterized by...

The European Union, in light of developments in the field of crisis-management concepts, is still in the phase of institutional building and foundation of its own concepts and doctrines. This does not mean that the EU has taken important steps towards the creation of a doctrine based on a...