Abstract: Within the framework of the mainstream neoclassical model, the existence of the firm creates serious theoretical difficulties. Major attempt to overcome them, leads to application of the Transaction cost economics developed by Coase, Williamson, etc. On its own turn, it creates new...

The paper studies the dynamics of economic expectations in the EU member states over the period 01.1998 to 05.2013 with particular focus on consumer confidence, business climate indicators and inflation expectations. We reach the conclusion that expectations do not converge to a uniform value...

The study presents a critical review of the main schools of thought regarding the formation of economic expectations. The overview includes static and adaptive expectations, rational expectations, learning approaches, and heterogeneous agents and heterogeneous information approaches. Key...

Looking through a bit unusual perspective of the Corporate governance, the paper addresses the "paradox of the firm" which emerges in neoclassical economic paradigm and originates from Ronald Coase. It shows how the Transaction cost Economics tries to resolve the paradox and why it fails in this...

This paper incorporates interdisciplinary New Institutional Economics and assesses the system of governance of agrarian sustainability in Bulgaria. The system of governance of agrarian sustainability is comprehensively analyzed, and the efficiency of institutional environment and diverse market,...

Broadly applied traditional frameworks for assessing efficiency of economic organizations in agriculture are (only) based on the “technical efficiency” of the factors of production and the “productivity of employed resources”. They compare the levels of efficiency of farms of different...

Risks management studies in agri-food sector predominately focus on technical methods and capability to perceive, prevent, mitigate, and recover from diverse risks. In most economic publications the risks is studied as other commodity regulated by market supply and demand, and farmers...

The goal of this paper is to adapt achievements of modern management and suggest approach for strategic management of farms in Bulgaria. Firstly, the content and elements of strategic management are presented. Next, questions associated with strategic planning, strategies implementation, and...