Informal communication

The typical sender-receiver game studied in the literature assumes that receiver is uninformed. I analyze a model where receiver has private information and sender cares to be perceived as honest. If sender's honesty concerns are strong enough, the model predicts information revelation as a unique equilibrium. This uniqueness result contrasts with the multiplicity of equilibria in games with uninformed receiver. To achieve information revelation as a unique equilibrium, receiver may have to ask for information, which is extraneous for her decision. If sender's honesty concerns are not too strong, asking for extraneous information may create an incentive for lying.     

The Rise,Fall and Rebirth of Polish Political Geography

The article presents an outline of the history of Polish political geography. Its development as a science in fact began in the nineteenth century and its golden age lasted all the way through to the fall of the Polish state in 1939. The loss of independence in the period 1939/1945–1989 also brought with it the fall of political geography in Poland. After 1989, along with the restoration of freedom of research in Poland, a new period started in the history of Polish political geography.     

Estimation of demand and supply functions from univariate sample with known separation

It is shown that the joint unconditional density function of demand and supply is a computable function of parameters of the conditional density function of the observed quantity. Propositions of formulating unconditional and conditional disequilibrium measures are suggested.     

The examination of pecan price differences using spatial correlation estimation

A spatial analysis is used to model factors that explain the price received by pecan growers. Besides the statistical aspect of the study focussing on spatial autoregressive residuals, the economic analysis of the paper identifies linkages between the price for in-shell pecans received by growers and the characteristics of the orchard, production costs and resources, and the orchard location.     

The impact of license regulation on the number of recreation trips: is it worth considering?

A two-stage nonlinear least-squares model (2NLS) with an endogenous treatment effect on recreation trips describes the behavior of recreationists with and without a fishing/hunting license. The proposed 2NLS is applied to the derivation of the policy-relevant average gains in the presence of an endogeneity bias to a license fee implementation program regulated by states. Recreationists who purchased a license are likely to recreate more than are the nonlicensed holders because the regulation may reduce congestions at sites where licensee visit often. The license regulation has a greater impact on the use of natural resources after controlling observed and unobserved confounders which might be correlated with the probability of being a license holder and with the final outcome, the number of recreation trips. We confirm that the individual without a permit regards the recreation trip as less valuable than does the individual having a license permit. We also found that the likelihood of purchasing a license among young adult recreationists is not at the level the states may desire. In addition, the number of trips demanded is more responsive to the nontransportation-related implicit travel cost than to the transportation-related implicit travel cost, although travel implicit costs are price inelastic.      

A small forward-looking inter-country model (Belarus, Russia and Ukraine)

The paper describes an inter-country model developed on the New Keynesian Phillips curve principle for the economies of Belarus, Russia and Ukraine. Technically the modelling idea has been grounded within the concept of the infinite dimensional vector autoregressive models by Chudik and Pesaran [Chudik A., Pesara M.H., 2007. Infinite-dimensional VAR's and factor models. IZA; DP No. 3206]. The main developments are such that the model is 1) interdependent rather than vector autoregressive, 2) estimated by the generalised method of moments and 3) forward-looking. The primary linkage of the country models is provided through the real effective exchange rates of particular countries, while the secondary linkages are through the Chudik and Pesaran cross-sectional augmentations. A series of Monte Carlo experiments confirms that the small cross-dimension of the model and a possible dominance of one country in the panel (Russia) should not distort the results in a significant way. A series of stochastic simulation experiments made with and without the assumption of observational equivalence principle shows a possible spread of the Dutch Disease from Russia to other countries in the model.     

Market failure and stagflation: Some aspects of privatisation in Poland

The paper investigates causes of the stagflation phenomena which appeared in Poland in the period after the shortageflation, i.e. after February 1990. It is conjectured that one of the primary reasons for the appearance of the stagflation was substantial market uncertainty, which led to a market failure. The theoretical analysis is based on the Newbery-Stiglitz model of futures trading. This reveals that, in the presence of huge price variations a market is likely to fail if a substantial backwardation accompanies negative correlation between prices and quantities. The empirical evidence consists of testing market efficiency (weak and semi-strong forms) and the rational expectations hypothesis for the Polish consumption market and inflation in the period of shortageflation. It is found that the market survives the tests for weak efficiency but fails the test for semi-strong efficiency and rational expectations.