The aim of this arti cle is to show that the New Insti tuti onal Economics is an interdisciplinary stream combining economics, law, organizati on theory, politi cal sciences, sociology, and anthropology. The main theories which are part of the New Insti tuti onal Economics are: Agency Theory,...

The past few decades have been characterized by a growing body of profit-seeking public service areas with the understanding that profit-seeking organizations will deliver public services more efficiently than government can. These sectors include, but are not limited to, health care,...

What can we learn about applied price theory from the Bourgeois Era? In this paper, we contend there are three important lessons that can be extracted from McCloskey's work on the Great Enrichment. First, transaction costs are not constraints, but objects of choice. Second, property rights are...

In contemporary economic literature, we can find plenty of theoretical and empirical approaches which seek to highlight the most appropriate factorial variables that are associated with the institutional quality of the business environment. This study presents, in a summarised version, the...

In diesem Beitrag gehen wir der Frage nach, inwieweit die Entfernung zur nächsten Hochschule (Universität/Fachhochschule) die Wahrscheinlichkeit beeinflusst, ein Studium aufzunehmen bzw. aufnehmen zu wollen. Außerdem untersuchen wir die Mechanismen, die dem Zusammenhang zwischen...

The increasing use of temporary agency work in Germany has implications for the nature of the employment relationship. The notion of a clearly defined employeremployee relationship becomes difficult to uphold in triangular relationships like in the case of temporary agency work where the...

Nowadays, the most typical reforms in higher education are conducted through the reorganization of universities either in the form of a merger, acquisition, or new status attainment. As a result, universities which educate local leaders for their respective national economies and have a profound...

The aim of this article is to analyse the major sources of transaction costs in financial markets, in particular to find the amounts of such costs on the Warsaw Stock Exchange (WSE). Sources of transaction costs are considered: commissions, bid-ask spread and market impact. The commissions are...

In this paper we investigate sources and characteristics of value, size and momentum profits on the Polish stock market. The research aims to broaden the academic knowledge in a few ways. First, we deliver fresh out-of-sample evidence on value, momentum, and size premiums. Second, we analyzemthe...

We consider Bayesian incentive-compatible mechanisms with independent types and either private values or interdependent values that satisfy a form of "congruence." We show that in these settings, interim participation constraints are satisfied when the status quo is the randomized allocation...