"Scientific research" Almanac

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  ESTIMATING WILLINGNESS-TO-PAY AND PRICE SENSITIVITY FOR EDUCATIONAL SERVICES USING ADAPTIVE CHOICED-BASED CONJOINT ANALYSIS

  In this study, we present and prove an empirical approach for measuring willingness-to-pay and price sensitivity for educational services (master's programs in economics and management) offered in substitution setting with low visibility of the actual consumer value. Our experiments are based on adaptive choice-based conjoint analysis. We estimate ... In this study, we present and prove an empirical approach for measuring willingness-to-pay and price sensitivity for educational services (master's programs in economics and management) offered in substitution setting with low visibility of the actual consumer value. Our experiments are based on adaptive choice-based conjoint analysis. We estimate willingness-to-pay on an individual level, based on part-worth utility estimates derived using hierarchical Bayesian approach. At the aggregate level, we specify and derive market response functions and thresholds at which price sensitivity changes dramatically. Based on part-worth estimations we build a „market simulator”, based on optimization gradient method. Based on it we found the „optimal” product bundle that maximizes the share of consumers' preferences in two dimensions – institutional and competitive. We found that the present supply of integrated educational services is not relevant to the structure of preferences of the potential students. In terms of financial management of educational institutions, there is considerable potential for optimizing cash flows by rethinking and changing their price policies – from uniform charges for different master’s programs towards nonlinear pricing.

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  FOREIGN TRADE SPECIALIZATION AND ECONOMIC GROWTH OF THE EU MEMBER STATES

  The research „Foreign Trade Specialization and Economic Growth of the EU Member States” aims to study the relations between the production and trade speciali-zation and the economic development of the EU Member States under the conditions of globalization and integration. These two processes impose various political, and hence – economic ... The research „Foreign Trade Specialization and Economic Growth of the EU Member States” aims to study the relations between the production and trade speciali-zation and the economic development of the EU Member States under the conditions of globalization and integration. These two processes impose various political, and hence – economic requirements to the Member States due to their different positions within the Union and the world in general. It covers the volume and structure of the trade flows among the Member States within the European Union as well as the trade flows of each Member States with other countries all over the world. The scope of the study also includes the changes in the trade specialization on the various stages of expansion of the EU in the period 2007-2010, which is characterized by the effect of various specific factors on the global economic development.

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  STAFF TRAINING – GENERATOR OF CORPORATE KNOWLEDGE

  The present study is a natural continuation of the authors’ longstanding interest in corporate knowledge and the approaches for its management, finding expression in the development of three research projects and numerous publications in this field of science. In view of the fact that knowledge becomes increasingly crucial for the existence, ... The present study is a natural continuation of the authors’ longstanding interest in corporate knowledge and the approaches for its management, finding expression in the development of three research projects and numerous publications in this field of science. In view of the fact that knowledge becomes increasingly crucial for the existence, development and prosperity of companies in today's economic climate, the issue about the approaches (ways) for acquiring new corporate knowledge comes to the foreground. One of these ways is staff training. Today, in times of crisis, the shortage of financial resources in Bulgarian enterprises restricts the use of the other methods known in business practice. Therefore, staff training becomes the most affordable method for generating the necessary knowledge tailored to the specific corporate processes of an enterprise. In this respect the study analyzes the extent to which Bulgarian companies take advantage of opportunities provided by the training for generating new corporate knowledge as well as the problems accompanying its implementation.