The paper investigates empirically the determinants of political stability in one-party states, taking as an example socialist Yugoslavia. We assume that the number of the Party members is an indicator of the stability of the regime and perform a time series analysis for the six Yugoslav...

The European Union (EU) has been continuously rethinking its global position amidst emerging economic and geopolitical challenges and attempting to formulate strategies to increase its competitiveness. However, its long-standing policy implementation deficit is also recognized for its grand...

This paper studies the differences between the organisation of budget management in selected government administrations in the Western Balkans and the Republic of Moldova and good practice across the European Union (EU). It observes that the ministry of finance (MoF) in these administrations...

The paper presents a game-theoretical model to examine the equilibrium timing of insider trades in a market with a finite life span. An example of such a market is that for horse betting, where insiders must bet before the race or their information is of no value. We show that there is no...

Prediction markets have been shown to generate fairly accurate odds of various events occurring in the future. The forthcoming possibility of natural disasters provides, on occasion, an opportunity for a bet, yet no wide scale and accepted prediction market has arisen despite its obvious...

There have been many attempts, theoretical and empirical, to explain the persistence of a favorite-longshot bias in various horse betting markets. Most recently, Snowberg and Wolfers (2010) have shown that the data for the US markets support a “misperceptions of probability” approach in line...

In this article, the authors test two different kinds of bias—the favorite-long shot/favorite-underdog bias and the home team bias—and distinguish between the two, using a distinctive feature of the Australian Football League (AFL): the fact that many games are played on neutral...