This paper results from the research in the framework of the project "Market developments under transition (applied to the petrol and sugar industries)" and its policy implications. A general definition of the problem, the hypothesis and the research methodology are presented in the...

Belief that competition is beneficial in general and for productive efficiency in particular is likely to root in competition's well established and rigorously proved positive relation to the optimal allocation of economic resources. This paper looking at the production side of the economy...

This paper examines the evolution of airline business models and network structure decisions in the passenger aviation industry. The paper reviews the growth of hub-and-spoke networks as the dominant business model following deregulation in the latter part of the 20th century, followed by the...

This paper examines optimal policy when agents, private investors and a government, can learn about the economy by observing others. Investors can delay investment in order to exploit future information. Importantly, investors ignore the informational value of their actions to others when...

The invisible hand theorem relates nothing about the attributes of the optimal allocation vector. In this paper, we identify a convex cone of functions such that order on vectors of exogenous heterogeneity parameters induces component-wise order on allocation vectors for firms in an efficient...

The strategies of rent appropriation and market structure are inter- dependent. How firms use patents depends upon industry structure, and in turn, affects industry structure. In the early part of the history of the chemical industry, market leaders combined patents and secrecy to deter entry....

This paper investigates the degree of bank competition in Hungary on various submarkets. An overview of stylised facts on the market structure, pricing behaviour and entry barriers suggests that the degree of competition may be rather different in the individual submarkets. Looking at the...

The end of the Cold War led to a large drop in world military expenditure, rising fixed costs of developing weapons because of technological changes and a reduction of national preference for domestic weapons. Alongside these developments has been an increase in concentration in the world arms...

In this paper we present a new measure to investigate the functional structure of financial markets, the Sector Dominance Ratio (SDR). We study the information embedded in raw and partial correlations using random matrix theory (RMT) and examine the evolution of economic sectoral makeup on a...

This paper highlights the monopoly firms´ commitments for goods requiring high maintenance expenditure, such as elevators, televisions and computers. A guarantee time limit model to maintain these special goods is presented in this paper. Based on this model, several types of commitments with...