Anchoring is a well-known decision-making bias: original guesses for a certain question could act as anchors and could influence our final answers. Reference prices - in a similar fashion - can lead to a bias in consumer valuations, and thus consumer demand will be coherent but not one derived...

The relationship of managerial bonuses and profit maximization is interesting both from an economic and a managerial viewpoint. Our contribution to this literature is showing that progressive managerial bonuses can increase profits in a spatial Bertrand competition, and furthermore they can help...

In this article we examine the effects of third degree price discrimination in asymmetric Cournot oligopolies. We show that the average price is not affected by the extent of price discrimination. We find that the asymmetry between firms is reflected only by the output produced for the...

Theoretical articles on incentive systems almost exclusively focus on linear compensations, while, in practice, nonlinear elements, such as quota bonuses, are not uncommon. Our article tries to bridge that gap; it shows how the use of quotas can increase the owners’ profits, which agents are...

A vertikális korlátozások témaköre a versenypolitika és -szabályozás egyik legfontosabb, de mindenképpen legtöbb vitát generáló területe. A téma magyar irodalma elsősorban elméleti kérdésekkel foglalkozik, mellőzve a konkrét iránymutatásokat a probléma kezelésére....

In this paper we extend the results of Kreps and Scheinkman (1983) to mixedduopolies. We show that quantity precommitment and Bertrand competition yield Cournot outcomes not only in the case of private firms but also when a public firm is involved.

The global crisis of 2008 caused both liquidity shortage and increasing insolvency in the banking system. The study focuses on credit default contagion in the Central and Eastern European (CEE) region, which originated in bank runs generated by non-performing loans granted to non-financial...

Die Vielfalt von möglichen wirtschaftlichen Konsequenzen von Banksolvenzproblemen trägt auch dazu bei, dass wissenschaftliche Fragen über die Eigenkapitalregulierung im Bankensektor schon seit einigen Jahren ziemlich intensiv diskutiert werden. Die Effekte von Eigenkapitalregulierung können...

We build a multiple hierarchical model of a representative democracy in which, for instance, voters elect county representatives, county representatives elect district representatives, district representatives elect state representatives, and state representatives elect a prime minister. We use...

The paper uses paired comparison-based scoring procedures for ranking the participants of a Swiss system chess team tournament. We present the main challenges of ranking in Swiss system, the features of individual and team competitions as well as the failures of official lexicographical orders....