Economic Archive

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  Why Trump Won the Elections – in View of the Prospect Theory

  In view of the behavioral approach and the prospect theory, the article tries to explain why an alternative is sometimes chosen, which compared to other options, leads to a worse and more uncertain expected outcome. The example analyzed is D. Trump’s victory in the US presidential elections in 2016. The reasons why he won lie in the candidate’s ... In view of the behavioral approach and the prospect theory, the article tries to explain why an alternative is sometimes chosen, which compared to other options, leads to a worse and more uncertain expected outcome. The example analyzed is D. Trump’s victory in the US presidential elections in 2016. The reasons why he won lie in the candidate’s right strategy which takes into account the voting behaviour, and especially in the proper communication with voters, in the reflection effect and loss aversion. The validity of the prospect theory is sought not only in the political choices but also by means of a number of own studies examining its basic assumptions in Bulgarian conditions. Examples are given of applications in other fields.

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  The EU Labour Market (as Viewed through the Prism of Elasticities)

  This paper discusses both theoretical paradigms and applications of labour market elasticities within the European Union of 28 member states. The paper is based onto a recent research (2014-2016), conducted by the author upon the effects on the EU-28 labour market, based on general models, explaining behaviour of elasticities of labour ... This paper discusses both theoretical paradigms and applications of labour market elasticities within the European Union of 28 member states. The paper is based onto a recent research (2014-2016), conducted by the author upon the effects on the EU-28 labour market, based on general models, explaining behaviour of elasticities of labour supply-demand sets of equilibriums. The paper employs the doctrine of employment-at-will, and therefore, the main theoretical framework for reasoning and explaining the effects on the EU labour market is an adapted Nash Bargaining Equilibrium on the labour market. Based on voluntary searching and matching of interests of employers and employees, the labour market is analyzed through the set of labour elasticities on micro- and macro-levels of the EU economy.

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  Cohesion Policy of the European Union: Evolution, Challenges and Prospects

  The article analyzes the historical development of the Cohesion (Regional) Policy of the European Union and outlines the main challenges and perspectives facing it. Recommendations are formulated for its improvement in the future.... The article analyzes the historical development of the Cohesion (Regional) Policy of the European Union and outlines the main challenges and perspectives facing it. Recommendations are formulated for its improvement in the future.