We study equilibrium in a multistage race in which players compete in a sequence of simultaneous move component contests. Players may win a prize for winning each component contest, as well as a prize for winning the overall race. Each component contest is an all-pay auction with complete...

The role of the state is finally the decision of the citizens. The government, being a result of elections, can provide more or less protection and increase or decrease expenditures. Anyway for achieving goals and for being performant the state definitly has to promote a good governance. Good...

The past few years have seen a growing trend towards the focus on audit liability. In the UK, the Company Law Reform Bill which became the Companies Act 2006, has removed the previously existing limits on auditor liability and compelled an agreement between the company and the auditor. As well...

The Sennian capability approach has facilitated to capture poverty in its multi-dimensional incidence and thus to raise a new aggregate poverty index – the UNDP’s Human Poverty Index (HPI). The UNDP has found power mean of order α 1 as possessing some of the most desirable properties in...

This paper addresses the question how knowledge is used to benefit the economic development of Singapore and Malaysia. Both countries have followed strict science policies to establish knowledge governance regimes for a knowledge-based economy. On the basis of empirical studies in both countries...

The purpose of this paper is to participate in the discussion of the effects of outward FDI in R&D on the home country. The main possible threat for home economies is the relocation of R&D activities to foreign regions and, as a result, the loss of technological capacity. This study contributes...

Along the history it has been asserted that among the determinant agents of the economical growth can be also cited the conservation and the endowment with physical, technological and human capital. This thing involves the realization of certain investigations in the infrastructure, development,...

This paper seeks to explore the issues of Internet governance from a development perspective. The WSIS process and the report of the UN Working group on Internet Governance provide an initial framework within which to develop the issues. These issues not only concern the equitable distribution...

Education is an important pillar in the national economic development. It contributes to economic growth in varied forms. The educational system in Eritrea shows all the symptoms of prolonged neglect under colonialism and war. But education plays a key role in the development after independence....

The principle of uncertain future: the probability of a future event contains a degree of (hidden) uncertainty. As a result, this uncertainty (in a sense, similar to vibrations, fluctuations) pushes the probability value back from the bounds to the middle of its range (from ~100% and ~0% to the...