Economics 21

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  COMMITMENT AS A CONSTRAINT TO THE PURSUIT OF SELF-INTEREST

  By applying the behavioural economics approach and the findings of the empirical survey we conducted, this paper analyses constraints on the pursuit of self-interest. The objective is to transfer scientific insights about the impact which general rules of morality have on human activities; to establish what moral standards govern the community we ... By applying the behavioural economics approach and the findings of the empirical survey we conducted, this paper analyses constraints on the pursuit of self-interest. The objective is to transfer scientific insights about the impact which general rules of morality have on human activities; to establish what moral standards govern the community we researched and to provide new empirical evidence about the influence which the sense of duty has on human behaviour. Our research supports the thesis that people are governed by their sense of duty; they care about the well-being of other people and act responsibly and responsively, whether or not they benefit as individuals and groups; they also seek to treat others reciprocally and evaluate market phenomena from the perspective of their moral feelings. Unlike the Homo Economicus, real people are more moral, good-natured and attractive when treated in compliance with established moral standards and more immoral, evil and repulsive when treated contrary to them.

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  INSTRUMENTS FOR ENCOURAGING PUBLIC-PRIVATE PARTNERSHIPS IN TRANSPORT INFRASTRUCTURE PROJECTS

  The study presented aims to reveal the potential for expanding and intensifying public-private partnerships (PPPs) in the implementation of transport infrastructure projects. It focuses on the existing instruments for promoting PPPs in transport industry. The article presents an analysis of the European experi¬ence and the results from the ... The study presented aims to reveal the potential for expanding and intensifying public-private partnerships (PPPs) in the implementation of transport infrastructure projects. It focuses on the existing instruments for promoting PPPs in transport industry. The article presents an analysis of the European experi¬ence and the results from the application of instruments for promoting PPPs in transport industry. It summarizes the experience of the European Investment Bank in using these instruments, which will become increasingly important after the change in the use of structural funds and the allocation of the EU funding for infrastructure projects after 2020. It also conducts a critical analysis of the possi-ble forms of implementing PPPs in transport industry and defines their benefits and the areas of application. The main problems faced by public and private sectors in the implementation of PPPs as a form of financing transport infra-structure projects in the country are also outlined.

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  A METHODOLOGY FOR TREND ANALYSIS OF STOCK EXCHANGE ACTIVITIES, BASED ON INDICATOR SIGNALS AND FREQUENCY VOLATILITY

  Different technical and statistical methods and indicators which are usually applied separately are used in market trend analysis. Some of the fundamental principles in technical analysis, as well as a great part of the quantitative indicators are not popular enough. There are unsettled issues regarding the change in the information indicators ... Different technical and statistical methods and indicators which are usually applied separately are used in market trend analysis. Some of the fundamental principles in technical analysis, as well as a great part of the quantitative indicators are not popular enough. There are unsettled issues regarding the change in the information indicators during the market trend and one can find unexploited potential in the analytical methods, which sets up a necessity for a more thorough and comprehensive study of the primary exchange indicators. Therefore, we propose a comprehensive methodology of market trend analysis, which integrates the signal functions of exchange indicators, statistical variation and frequency volatility by specifying their change throughout the market phases.