A cake is a metaphor for a heterogeneous, divisible good, such as land. A perfect division of cake is efficient (also called Pareto-optimal), envy-free, and equitable. We give an example of a cake in which it is impossible to divide it among three players such that these three properties are...

This paper is devoted to econometric analysis of broadband adoption efficiency in EU member states. Stochastic frontier models are widely used for efficiency estimation. We enhanced the stochastic frontier model by adding a spatial component into the model specification to reflect possible...

The purpose is to investigate the efficiency levels of commercial domestic versus foreign banks in France by comparing the use of basic accounting ratios and the stochastic cost and profit frontier analysis (SFA). We analyze the profit and cost efficiency of domestic and foreign banks operating...

This paper aimed at a statistical analysis of competition for tourists between regions within Baltic states (Estonia, Latvia, Lithuania) and estimation relative efficiency levels of regions. We apply a modern approach called Spatial Stochastic Frontier and corresponded to spatial modification of...

By starting with the statement of Alfred Marshall: "The most valuable of all capital is invested in being human" we can consider the quality of human resources in general and quality of educational resources, especially as a decisive factor for economic growth together. The specialists...

This essay will critically evaluate positions that have emerged in the literature in favor of the welfare state. The downsizing of the welfare state, which would, inter alia, to reduce government spending, provide greater scope for the free market. The transition from a welfare system to a...

This paper suggests a holistic framework for assessing farm competitiveness, and analyses competitiveness of different type of Bulgarian farms. First, it present a new approach for assessing farm competitiveness defining farm competitiveness and its three criteria (efficiency, adaptability and...

The financial market interest several researchers, especially in the domain of assessment of the financial assets and their performances. The previous research identified several anomalies of the market, as size, Monday, January, PER effects, etc. putting in question the notion of market...

In both economically developed and developing countries, privatisation, budget austerity measures and market liberalisations have become key aspects of structural reform programs in the last three decades. These three recommended policies were parts of strong revival of classical and...

Abstract In both economically developed and developing countries, privatisation, budget austerity measures and market liberalisations have become key aspects of structural reform programs in the last three decades. These three recommended policies were parts of strong revival of classical and...