The aim of the article is to identify possible "follower" behaviour; it means to reveal countries following the average military burden of North Atlantic Treaty Organization (NATO) member states. To analyse the relationship between military expenditure of NATO member states and selected...

This paper analyzes the choice between quality improvements and copyright litigation by a proprietary seller who faces a competitive threat from a content-sharing platform. The platform operates like a "public good" with contributors who share content and free-riders who only consume content...

In 2010, Georgians voted on a proposed constitutional amendment that would have increased motor vehicle licensing fees by USD 10 with the proceeds dedicated to maintaining and expanding the state's trauma care centers. This paper examines voter support for the referendum across counties and...

This study examines the interaction of conflicting preferences among directors, performance pay, and group effort. I model a corporate board in which directors voluntarily choose to research (or not research) an investment decision made by the board on behalf of the firm. Free-riding among...

This paper analyzes the possibility of creating worker cooperatives in which members are paid not through wages but through dividends calculated on the organization's residual income, as stipulated by the economic theory of the labor-managed firm. It is shown how dividends paid to members can be...

We consider dynamic team production in the presence of uncertainty. Team members receive interim feedback that depends on both their current effort level and the project's uncertain prospects. In this environment, each member can encourage the others by making them more optimistic about the...

Who watches the watchmen? In order to examine the role of the governance separation of powers principle in economics, we developed a theoretical model of a structurally failed market with and without political pressure. We conclude that if the executive branch is dedicated to its public duty,...

In this paper, we present the results of an experiment conducted in Italy on trusting behaviour. Our subjects participated in a trust game and filled in a questionnaire on trust and trustworthiness based on the attitudinal questions reported in the European Value Survey. The aims of the research...

The standard approach to nominal illusion in Economics sees it as a transitory phenomenon, as economic agents eventually see through the nominal veil, making the right choices. Recent empirical studies suggest that money illusion may persist, distorting real prices in a variety of economic...