The Political Economy and Public Choice approaches have promoted the study of interactions between the economy and the polity for over 60 years now. The present paper endeavours to provide a critical discussion of this literature and its achievements. In particular, it begins with the different approaches based on empirically tested or politometric models and it then proceeds to discuss different studies of the effects that particular rules of the game have on politico-economic outcomes. The third section of the paper will address studies that take institutions to be endogenous and aims to explain why particular institutions emerge. Finally, the question of whether Political Economy has been a success or a failure will be tackled. While the success in terms of the position it has gained in economic research and teaching is undeniable, a look at one of the most thriving recent areas of economics, happiness research, will reveal that some of its fundamental lessons are all too often disregarded. Key words:

by We study fairness and reciprocity in a Hawk-Dove game. A variety of recent models gives the same predictions for this game. This allows us to provide a general classification of individuals ’ types. Contrary to a large number of studies on different games over the last decade, we observe a large

h i g h l i g h t s • Tournaments are designed to enhance participants ’ effort and productivity. • We empirically study the impact of interim rank on performance using data from international diving tournaments. • We find that competitors systematically underperform when ranked closer to the top, despite higher incentives to perform well. a r t i c l e i n f o Article history:

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In this study, the effects of China’s WTO commitments of reducing tariff and non-tariff barriers are analysed using a Computable General Equilibrium (CGE) model of China. In particular, this study draws the attention of policy makers to a different regional employment outcome when trade-liberalisation induced productivity improvements are taken into account. Trade-liberalisation induced productivity improvements occur when local producers survive import competition by seeking (most likely importing) input-saving technologies and production practice. Such endogenous productivity improvements, based on empirical estimates, are endogenously represented in the model.

ed exo ine agents who recurrently play a against each other agent in the n a classical result, Kandori et al. f the bilateral game is a 2×2 is such that strategies leading to ts coordinate on risk-dominant he pre lt gave ilds on The KMR model can be readily interpreted as a model of mimicked.1 In a framework with memory, the rule will specify to imitate the action which has led to highest payoffs in remembered experience.2 A standard element in learningmodels is the presence of exogenous inertia (see e.g. Samuelson, 1994 or Kandori and Rob, 1995), defined as an exogenously given probability 0≤ρ<1 that each single agent is notimitation (see KMR, p.31; Rhode and Stegeman, 1996; Sandholm, 1998) where agents mimic the actions which led to highest payoffs in the last period. In this note we consider exactly such a framework and endow agents with bounded memory, hence allowing them to make use of the information gained in the most recent periods of play. Agents remember all actions and payoffs observed in the last K≥0 periods of play in addition to the current one. such that aNc, dNb, aNd, and a+b<c+d. Hence, (P,P) and (R,R) are strict Nash equilibria, (P,P) is Pareto efficient and (R,R) is risk dominant. This is the most interesting case.The imitation rule used in KMR can be d best”, where simply the action leading to

Hubs and resilience: towards more

Scientific research, Scientific production, Scientific publishing, Scientific literature, Scientific journals Scientific publishing is the destination of research results. Publications are the receivers of “products ” resulted from scientific researches, but they are also incentives for researchers due to the provided informational resources. Thus, scientific journals “trade ” information, and researchers are engaged in activities that constantly enrich the scientific fund with “finished products ” that afterwards become “raw material ” for other researchers during “the scientific cycles of production”. As such, scientific publishing is a dynamic phenomenon, and scientific literature is constantly developing. The goal of this paper is to research Romanian scientific publications by conducting dynamic analyses and by providing researchers with new information about national scientific publishing.

The quality and the skills of human resources are important factors in the success of every organization wherever it act. Moreover this is really true in a very competitive market such as European Union. In the European Union the number of persons who are taking part in high education studies after the age of 25 years has seen an upward trend in recent years, increasing thus the share of employed graduates of tertiary education in total employment over 25 years. This increase is generated by the access to education forms adapted in terms of time and location of training. The appearance and development of these forms can be explained by the use of information technology (Internet access). Statistics show that in the EU, household access to the Internet and its frequency of use was also increasing, approximately 80 % of all persons aged 16 to 74 years have ever used this information and communication tool.

test and autocorrelated disturbances