When politicians are provided with insufficient incentives by the democratic election mechanism, we show that social welfare can be improved by threshold contracts. A threshold incentive contract stipulates a performance level which a politican must reach in order to have the right to stand for reelection. Read my lips would turn into read my contracts. Reelection thresholds can be offered by p...

the conventional theory of adverse selection is not supported by most of the empirical works. these studies conclude that low-risk individuals demand more insurance services than high-risks. they refer to this situation as advantageous selection theory. this theory states that loss ratio of insureds may be lower than the population loss ratio while the conventional theory of adverse selection c...

credence goods market is one of the markets that the asymmetric information has transformed it to a missing market. those goods and services that the applicant cannot determine the exact amount of their expenses due to the asymmetric information are called credence goods. from the economists' perspective, transaction in a market where participants are ignorant about each other is a game wi...

This paper uses a risk-shifting model to analyze policy responses asset price booms. We show risk shifting leads inefficient and credit booms in which prices can exceed fundamentals. However, the inefficiencies associated with arise independently of whether is bubble. Given evidence shifting, policymakers may not need determine if assets are bubbles justify intervention. then that some main can...

A felelőssegteljes innovacio elmeletenek vallalati folyamatokba integralasa es ezen keresztul a tarsadalom eletminősegenek javitasa fontos kihivast jelent tema multidiszciplinaris kutatokozossege szamara. Az eddig alkalmazott modszerek joreszt etikai nem kozgazdasagtani oldalrol kozelitettek beavatkozasokat, igy inkabb akademiai kornyezetben ertek el sikereket. Ezzel szemben profitmaximalizalas...

Acidic human fibroblast growth factor (hFGF1) plays a key role in cell growth and proliferation. Activation of the cell surface FGF receptor is believed to involve the glycosaminoglycan, heparin. However, the exact role of heparin is a subject of considerable debate. In this context, in this study, the correlation between heparin binding affinity and cell proliferation activity of hFGF1 is exam...

Deferred acceptance (DA), a widely implemented algorithm, is meant to improve allocations: under classical preferences, it induces preference-concordant rankings. However, recent evidence shows that—in both real, large-stakes applications and experiments—participants frequently play seemingly dominated, significantly costly strategies that avoid small chances of good outcomes. We show theoretic...

The relationship between financial development and economic growth is the crucial issues which could grab economists and policy makers' attention to it. Financial market plays an essential role on each economy, because it conducts funds to those individuals or firms which have productive investment opportunities. If the financial system does not perform this role efficiently, the economic effic...