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1

INSTITUTIONAL IMPROVEMENT: BENCHMARKS WITHIN EASY GRASP

100%
Nežinský E., Fifeková E.
Ekonomický časopis (Journal of Economics)
|
2024
|
vol. 72
|
issue 9-10
479 – 494
EN
The 2024 Nobel Prize in Economics has confirmed the importance of institutional quality in driving economic performance and framing ongoing trends. We demonstrate the importance of institutional quality and assess institutional quality of CEE countries with additional focus on the V4 countries via composite indicator under benefit-of-the-doubt aggregation weighting scheme. We investigate benchmarks in six dimensions of institutional quality World Governance Indicators as a result of employing two nonparametric performance-frontier estimation techniques. Without specifying preferences or adjustment costs, both the conventional approach and the “closest target” procedure offer decision makers a choice from a Pareto-efficient set of targets. In setting policy goals, major trade-offs should be considered between ambitions for accountability and regulatory quality, on one hand, and government efficiency and corruption control, on the other.
2

ELLSBERGOV PARADOX: ROZHODOVANIE ZA PODMIENOK RIZIKA A NEISTOTY

81%
Baláž V., Fifeková E., Nemcová E.
Ekonomický časopis (Journal of Economics)
|
2009
|
vol. 57
|
issue 3
213-229
EN
This research analysed decisions under risk and ambiguity on a sample of 539 students of the Bratislava University of Economics. Experiments with bets on Ellsberg paradox and familiar events generated results similar to those obtained by Fox and Tversky in 1995. New findings relate to gender differences in decisions under risk and uncertainty. Female students were more ambiguity averse, if they had felt less competent in area of decision. While bets by male participants were significantly higher in financial topics, gender differences were much lower in bets on linguistic topics.
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