The potential of Non-Fungible Tokens (NFTs) is highly anticipated, particularly in the realm of visual arts. However, current applications within fine arts often involve trivial processes, such as creating digital versions of artworks or replicas of masterpieces as NFT images, and selling only...

When are the incentives of a business ecosystem’s participants aligned with its growth? How is the technology of value creation affecting this alignment? To answer these questions we formally model how value creation determines value capture in a business ecosystem. We find that alignment is...

The main focus of this paper is the impact of efficiency losses, related to public capital stock, on the prospects of economic growth in democratic and autocratic political environments. We introduce a distinction between two types of efficiency loss: along with the loss of public capital during...

The article examines an approach to the simulation of financial institution behavior (and bank in particular) based upon system dynamics methods. Research results indicate that system dynamics modeling can to further for better understanding of banking troubles hidden causes. Therefore the...

The article analyses an approach to construction of the mathematical model for the commercial banking industry based upon set theory, abstract algebra, and computational linguistics.

The impact of political institutions, e.g. the organization of legislature, election and party systems, on agricultural protection has hardly been taken into account explicitly in theoretical and empirical studies, yet. In this framework the paper investigates to what extent political...

In 1964 the government of Kuwait established the Central Tenders Committee (CTC).Its aims were fivefold:1) to control the major areas of government spending on services anddevelopment projects;2) to reduce the expenses of government departments when buying from privatesuppliers and to ensure the...