Teodor Sedlarski

Teodor Sedlarski
Sofia University "St. Kliment Ohridski" · Faculty of Economics and Business Administration

Professor

About

74
Publications
145,592
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Introduction
Professor at the Faculty of Economics and Business Administration, Sofia University Academic Director of the Centre for Economic Strategies and Competitiveness, affiliated with the Institute for Strategy and Competitiveness at Harvard Business School Head of the Center for Economic Theories and Policies (www.economy.uni-sofia.bg) Co-Chair of the French-German Center for Applied Research in Economics and Management
Additional affiliations
October 2011 - November 2015
Sofia University "St. Kliment Ohridski"
Position
  • Vice Dean for Academic Affairs and International Relations

Publications

Publications (74)
Article
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Gunnar Myrdal (1898-1987) is known for his contribution to the founding of the Swedish welfare state as it was set up in the 1930s. He supported this through his scientific input, namely the application of an expansive fiscal policy and the implementation of social programs. Myrdal’s interdisciplinary study on the status of racial relations in the...
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Систематизирани са основни отличаващи характеристики на взаимодействията между стопанските агенти в индивидуалистични и колективистични култури. Предложено е кратко обобщение на дебата в литературата относно връзката между култура и икономическо развитие и е обоснована продуктивността за икономическия анализ на доброто познаване на особеностите на...
Chapter
The link between sustainability and digital transformation has been a recurrent topic in the literature and has reached new interest peaks at the beginning of the 2020s. In this context, intelligent data management is not optional, but a requirement if the European Union aims to successfully implement the 2030 Agenda for Sustainable Development in...
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INDIVIDUALISM, COLLECTIVISM, AND THE WEALTH OF NATIONS This article summarizes findings in the contemporary economic literature related to the cultural dimension of individualism-collectivism and its impact on economic growth and development. The relative economic advantages of both types of cultures are being laid out. The channels through which i...
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The importance of the interaction of the labour market and the higher education market is beyond doubt. The analysis of scientific articles has shown that this type of interaction is considered by scientists depending on the direction of research. Only a few works are devoted to the quantitative analysis of the interaction of these domestic markets...
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1885-1972) е влиятелен социален учен, автор на множество публикации в областта на икономическата теория, философията и етиката. В икономическата теория той е познат преди всичко със своите анализи на неопределеността като условие за извличане на икономически печалби на конкурентните пазари. Тази концепция е само един от множеството му приноси, свър...
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Heinrich von Stackelberg introduced several fundamental concepts to economic theory. His contributions to the analysis of market structure are the best-known ones. Since the 1930th his theory of the instability of markets is a cornerstone of theoretical economics. If firms make dependent and independent decisions in an oligopolistic market structur...
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Резюме: Харолд Хотелинг е влиятелен учен-статистик, работил в началото на 20-и век, включително в областта на кономическата теория. Трудовете му имат основополагаща роля за съвременната икономика и отварят пътя за нови изследователски въпроси в стопанската наука. Най-известна е работата му върху решението на проблема с изчерпаемите ресур- си. Хотел...
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This article elaborates on the theoretical contributions of David Ricardo and the way they are introduced in the History of economic thought class. Ricardo's defining ideas in the realm of political economy like the Ricardian rent, the comparative advantage, the specie-flow mechanism, the steady-state, the unified methodology of the labour theory o...
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Mancur Olson (1932-1998) became famous with one great idea: the failure of collective action. Since interest groups provide their members with public (collective) goods with corresponding externalities, he assumed that free riding as a rational individual strategy would be a ubiquitous problem hampering the realization of efficient collective actio...
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Israel Kirzner has made profound contribu¬tions to the theory of entrepreneurship. His con¬siderable insights address the entrepreneurial function in the market process. Kirzner belongs to the Austrian school and hence assumes subjective decision-making, incomplete sets of knowledge for all subjects, and market disequi¬libria. He ascribes to entrep...
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Although the European business environment induces important premises and assures conditions in determining economic growth and social well-being, the determinant and existent connections between the evolution of small and medium-sized enterprises (SMEs), business demography characteristics and the European socio-economic model have been scarcely s...
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Joan Robinson (1903-1983) is an outstanding Cambridge economist in a variety of aspects. Being a member of the inner circle around Keynes and discussing with him drafts of the „General Theory“ in the early 1930s, she became an ardent defender of Keynes' original ideas. Her first major work is the „Theory of Imperfect Competition“, which became the...
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This article analyzes the implications of social status comparison for the subjective wellbeing in todays market economies. It utilizes insights from behavior economics and takes into account cognitive specifics such as the availability bias, representativeness heuristic, the anchoring, framing and loss aversion. These characteristics of how humans...
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Would we be happier if we were richer? This article contributes to the discussion in the economic literature summarizing the findings in the modern research field of happiness economics. It analyzes the effects of conspicuous consumption, status comparisons, adaptation, heightened expectations and the burden of widened choice on the subjective well...
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Концепцията за безусловен базов доход е представяна от редица автори като инструмент за намаляване на бедността, осигуряващ живот над нивото на бедността за всеки индивид. Появилата се през XIX век идея за безусловен доход придобива нова популярност през последните години. Причината се крие в очакването нарастващата дигитализация и навлизането на р...
Book
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Книгата се издава с подкрепата на Центъра за икономически теории и стопански политики към Софийския университет "Св. Климент Охридски" и университетския фонд Научни изследвания. "Ако приемем най-общо, че основна цел в нормативната иконономическа наука е максимизацията на благосъстоянието на членовете на дадено стопанство въз основа на достиженията...
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Представено е кратко обобщение на някои от новаторските идеи на Гордън Тълок (1922-2014), смятан за един от основателите на школата на публичния избор в икономическата наука. Той полага началото на нов начин на икономическо мислене, като прилага парадигмалната рамка на рационалния избор към политическата и правната система. Идеите му за явлението „...
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Представено е кратко обобщение на приносите на Уилям Баумол в иконо- мическата теория. Баумол проявява жив интерес към множество области на икономическата наука и подобрява (в съавторство) съществено нивото на изследванията в икономиката на околната среда, индустриалната организа- ция и изследванията на предприемачеството. Фокусът тук е работата му...
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Abstract This conference paper elaborates on the social status competition as one of the main driving forces behind the contemporary socio-economic system based on market organization of the social interactions. Analyzed is the role of the so-called Veblen effects on the individual allocation of time between work and leisure, the significance of re...
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This paper elaborates on the impact of two phenomena on economic behavior which only recently became study object of standard economic analysis – social status and the spread of ‘Winner-take-all’ markets. The newly gained knowledge in the field improves the explanation power of economic theory regarding certain market tendencies in developed Wester...
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This article analyses problems which gain new popularity among economist in the context of the ongoing Fourth industrial revolution. Why is the ubiquitous decrease of work hours still not happening that was predicted by social scientists in the late 19th and the beginning of the 20th century? Why do individuals not reassign time towards leisure...
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This article analyses the social factors for the perceived human happiness in the framework of the modern research field of happiness economics. The impact of rising expectations on subjective well-being, the role of the social status competition and relative income, as well as of socially accepted consumption levels and hedonic adaptation on decla...
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This article summarizes fundamental concepts in the emerging field of behavioral finance theory. Traditional financial models are being extended with behavioral ones, which assume that markets are inefficient, market players are boundedly rational and investment bubbles exist, potentially leading to large scale financial crises. Behavioral finance...
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Резюме: Накратко е представена концепцията на конституционната икономика, която може да се разглежда като подобласт на теорията на обществения избор. Общественият избор и конституционната икономика са тясно свързани с името на Джеймс Бюкянън, който заедно със свои съавтори през 50-те години на миналия век поставя началото на теорията на обществения...
Article
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Резюме: Накратко е представена концепцията на конституционната икономика, която може да се разглежда като подобласт на теорията на обществения избор. Общественият избор и конституционната икономика са тясно свързани с името на Джеймс Бюкянън, който заедно със свои съавтори през 50-те години на миналия век поставя началото на теорията на обществения...
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This article elaborates on the ability of the socioeconomic system based of free markets to provide the expected result associated with it – sustainable levels of subjective wellbeing. Concepts from emerging research fields such as happiness economics, economics of social status, behavioral economics are used to shed light on often overlooked effec...
Article
The ability to form and develop the competitive advantage of organizations in a modern dynamic economy is based on innovation, quality and cost leadership. These are the three most important factors that determine the organization’s competitive position in the market and depend on the organization’s workforce. In conditions of openness of the econo...
Book
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Антологията по икономически теории има за цел да събере оригинални текстове от бележити икономисти, както и анализи на изследователи на икономическите учения, които да допринесат за запознаването на българския читател с основните концепции и тенденции в развитието на стопанската наука от XVII до XXI в. В настоящия втори том намират място ключови т...
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The crisis of 2008 has shown that some economic models do not provide reliable guidance for economic policy. As a result, a discussion on what to teach in economics has started within the discipline. This paper contributes to this discourse by referring to the model of the Production Possibility Frontier (PPF) used in principles courses in economic...
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Irving Fisher was one of the most fascinating personalities who have worked on Economic Theory. Besides his groundbreaking contributions to economics, he was also a pathbreaker for topics related to mathematics, statistics, nutrition, health, political stability and peace. This article provides a brief survey of Fisher’s work. It is closely related...
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BEHAVIORAL PUBLIC FINANCES This article summarizes research findings in the literature on the application of behavioral economics principles to public finance within the emerging field of so called behavioral public finance. Mental biases and heuristics of economic agents like mental accounts, the endowment, isolation and disaggregation effects, th...
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This article suggests an approach to teaching Keynesian ideas in the History of Economic Thought course. Summarized are key concepts of Keynes’ General Theory, as well as major Keynesian contributions to the development of economic ideas in the mid-20th century. After a short biographical note characteristics of the Keynesian economic method are ou...
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Статията представя идеите на Марсел Мос в контекста на новата институционална икономика. Мос, един от основателите на съвременната френска социология и социална антропология, формулира в първите десетилетия на XX век основополагащи концепции във връзка с произхода и функцията на парите. В статията твърдим, че идеите на Мос за ролята на парите в общ...
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In this article we analyze the causes and the specific development of the global financial and economic crises from 2007 – 2008 using concepts from the emerging field of behavior finance. Explanation of the failure of financial markets is sought, on the basis of prospect theory, in cognitive biases and errors studied in behavioral research. Evidenc...
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In this article we survey basic research problems in the economic literature on social networks for risk sharing. Summaryzed are the economic, as well as the social and demographic factors for the formation of risk sharing social networks. Because of the transaction costs for sustaining relationships (information, eforcement cost, etc.) real-life e...
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This article summarizes key findings in the contemporary research field of happiness economics. Elaborated is the influence of macroeconomic factors like inflation, unemployment, and GDP, as well as the quality of governance on the overall reported life satisfaction. The concepts of conspicuous consumption and the relative income hypothesis are bro...
Book
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"Икономически теории. Антология". Том 1. Съставители: проф. д.ик.н. Атанас Леонидов (1934-2015) и доц. д-р Теодор Седларски. ISBN: 978-954-07-4057-7 || Leonidov, A. / T. Sedlarski (2016), Economic Theories: An Anthology. Volume I. Sofia: Publishing House of St. Kliment Ohridski University, ISBN: 978-954-07-4057-7. Антологията по икономически теори...
Book
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Доцент д-р Теодор Седларски е преподавател в катедра Икономика към Стопанския факултет на Софийския университет „Св. Климент Охридски”. От 2012 г. е ръководител на Центъра за икономически теории и стопански политики към СУ (www.economy.uni-sofia.bg). Чете лекции по Икономически теории, Институционална икономика, Международна икономика, Икономика на...
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This article systemizes the newest research results in the contemporary field of the economic analysis of social status related to the formation of effective institutions and economic policies. The psychological effect of adaptation to the current consumption levels and the prevailing importance of relative to absolute wealth reveal the possibility...
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This article tackles two methodological problems. The first one concerns the definition and age limits of the youth population. It is still actively discussed in the literature and ambiguously solved in research and policy actions. The second problem is related to the measures of youth unemployment, which allow for manipulations through skewed usag...
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This article analyzes the concept of social preferences and the existing methods for their determination in experimental economics. Summarized are the results in modern economic literature on reciprocal fairness, inequity aversion, pure altruism and spitefulness from ultimatum, dictator and trust games. The presented findings of economic experiment...
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This article offers an overview of the American economist Robert Frank’s approach towards integrating social status concerns into conventional economic models of consumer choice, individual time allocation between work and leisure, income allocation between consumption and saving, etc. Preserving the methodological individualism of traditional econ...
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This article analyzes the basic concepts of behavior finance and its implied model of the economic agent which differs from the ‘homo economicus’ of traditional finance theory. Systematized are the more realistic assumptions regarding human decision making which stem from research in cognitive psychology and increasingly experimental economics. Out...
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BASICS OF CONTEMPORARY ECONOMICS: GOTTFRIED HABERLER. Abstract: This paper summarizes some of the most influential economic concepts developed by Gottfried Haberler, a leading economic theorist of the 20th century. The importance of his theories for modern economic thought cannot be overestimated. His ideas on price indices, applied opportunity c...
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Die Internationalisierung der Lehre nimmt im Kontext der europäischen Integration zu. Damit steigen Anforderungen an die Lehrenden. Wir berichten über die Erfahrungen interdisziplinären Lehrens und Lernens während einer internationalen Summer School, die im Sommer 2013 durchgeführt wurde. Beteiligt waren vier Hochschulen aus vier Ländern mit Studie...
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Представени са някои неортодоксални аспекти на институционалния подход към пазарите като социални структури (институции). Демонстрирана е възможността за обогатяване на новоинституционалния анализ, основан на концепциите за формални и неформални норми, имуществени права, транзакционни разходи, ограничена рационалност и социални мрежи,чрез отчитане...
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This article suggests a possible approach to the explanation of the monetarist money demand theory and the related policy implications in the teaching of History of economic thought. For the purpose of better understanding Milton Friedman’s contribution the emphasis is put on the conceptual development from the classical quantity theory of money, t...
Book
Монографията „Институционални аспекти на пазара“ е опит за цялостно изследване на феномена на пазара в институционална светлина, обединяващ модерните достижения на новите институционалисти с принципни въпроси от миналото на икономическите учения, които добиват нова актуалност в началото на 21-вото столетие. Новоинституционалната перспектива към паз...
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Изданието има за цел да представи теоретичните основи и главните изследователски направления на новата институционална икономика (НИИ). Приведени са примери за тяхното приложение в обяснението на обществено-икономически феномени и процеси. Специално внимание е отделено на актуалното състояние на институционалното знание в световната научна литерату...
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Изданието има за цел да улесни усвояването на материала по дисциплините международна икономика и международни икономически отношения, изучавани в Софийския университет „Св. Климент Охридски“. То е предназначено за студенти от специалностите Икономика, Стопанско управление, Международни отношения и Европеистика. В изложението са представени системат...
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Книгата Институционална икономика: възможности и неизползван потенциал представя теоретичните основи и главните изследователски направления в т. нар. нова институционална икономика (НИИ), която дава възможност да се разберат множество обществени процеси извън обхвата на традиционната икономическа теория. Изданието включва темите типология, произхо...
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The article highlights the current theories in the New Economic History, explaining the market social order rules imposed in the Western World in the post Renaissance period. The social order structure, based on impersonal exchange and rational prudence, differing from any other order in the history of human societies, is derived from a specific se...
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This article gives an overview of the life and work of Bulgarian economist Georgi Danailov in the beginning of the 20th century. Studied consequently in Moscow, Berlin, Munich and Vienna under such influential scholars of his time as Chuprov, Yanzhulov, Schmoller, Sombart and Brentano, Danailov became one of the first professors of political econom...
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This article investigates the analytical line of reasoning in D. North’s, J. Wallis’ and B. Weingast’s research project “Violence and Social Orders”, which unifies in an institutional explanation scheme the control over violence in human societies, the equilibrium of interests among the ruling coalition that secures the peace, and the possible tran...
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An attempt was made to sum up the basic socio-economic issues in Karl Polanyi's book “The Great Transformation”, which is less known by the economists in our country. Suggesting an alternative to Marx's market economic analysis at the early stages of establishing and imposing the capitalist social system, this significant work of Polanyi questions...
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This article examines the theoretical arguments in D. North’s theory of institutional change for why effective social rules and norms do not always succeed to replace economically inexpedient ones. An institutional development path which clearly diverts from the notion of evolution toward a more effective set of rules is seen as the main reason for...
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This article gives an overview of the main topics in the Law and economics research agenda. A brief summary of the major concepts developed in the works of Coase, Posner and Calabresi is presented. Introductory examples are used to illustrate the neoclassical approach to law and the most basic conclusions from its efficiency paradigm. Despite the o...
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The sociological literature on social networks emphasizes by and large positive network effects. Negative effects of such networks are discussed rather rarely. This paper tackles negative effects by applying economic theory, particularly neoclassical theory, new institutional theory and the results from experimental economics to the concept of soci...
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Im Artikel „Die Gesetzesreform zur Entwicklung des wissenschaftlichen Personals in Bulgarien: Eine ökonomische Gesetzesfolgenabschätzung“ wendet Henrik Egbert die ökonomische Analyse des Rechts an, um die Wirkungen eines Gesetzes in Bulgarien abzuschätzen. In diesem Kommentar lege ich neuere Entwicklungen zu diesem Thema vor, zeige kritisch zusätzl...
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Статията проследява развитието на теоретичния подход на Дъглас Норт към обяснението на институционалната промяна. Фазите в еволюцията на Нортовата теория са разгледани в хронологичен ред, за да се изведат основните посоки, в които се е променяла тя през последните четири десетилетия. Връзката с когнитивните науки в последните работи на нобеловия ла...
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In this article we propose a modification (extension) of the model for cost accounting in Bulgaria which will enable the gathering of information for the art and size of the transaction costs in an individual firm or organization. On the ground of prevailing classification schemata in economic literature we substantiate the implementation of a syst...
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Статията проследява взаимовръзките в институционалната теория на Дъглас Норт между концепциите за неформални институции и идеологии, от една страна, и транзакционни разходи, от друга. В рамките на подхода не само институциите, но и идеологиите могат да бъдат разглеждани като средство за спестяване на транзакцонни разходи на обществено и индивидуалн...
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This article is a study of key theoretical aspects of the transaction cost concept, being vital for the economic development, such as their impact on structuring and allocating the property rights – incorporated in the general issue of the changes in the institutions within the paradigm of the new institutionalism. Unlike the theory of Coase, the o...
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This article explores the theoretical relationship between economic growth and transaction costs, including the historical background of the discussion. Causes and implications of the rapid enlargement of the Bulgarian transaction sector in the transition period are discussed in respect to Douglas North’s institutional theory of economic developmen...

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Projects (6)
Project
Selected contributions of social scientists to the History of Economic Thought are discussed in a sequence of articles. The articles address a Bulgarian audiance.
Archived project
The project aimed at using different techniques to measure transaction costs on a national level. The case at hand was the Bulgarian economy after the end of Socialism.