In recent years, economic approach to human behavior has been challenged by contributions of cognitive science under the name of behavioral economics. As a result, two methodological strands in economics discord with each other: objectivistic (naturalistic) approach refuses the role of...

This paper analyses the pay-per-bid auctions which have appeared recently on the Internet and scored an immediate business success. In these auctions bidders pay a small, but irrevocable fee each time they want to increase the price. In this paper we test the model suggested by Platt, Price and...

This study aims to investigate the effectiveness of car scrappage schemes implemented in the European Union (EU) during the economic crisis of 2009. The study uses a synthetic control variable and a difference-in-differences method to evaluate these policies. Using monthly data on new passenger...

The paper is focused on history of the concept of consumer surplus presented by Alfred Marshall as an economic tool to measure benefits and losses resulting from changes in market conditions. As it assumes constant marginal utility of money, it was refused by further development of economics....

Post-Keynesian approach to the nature of money brings some strong conclusions for the monetary policy of a central bank. Money is created by provision of loans. Loans make deposits. Deposits make reserves, since central banks play the role of a lender of last resort. Banks thus may provide as...