1. Author: Djordje Šuvaković Olgin, Goran Radosavljević
Pages: 7-35
Monopsony in the Labor Market: Profit vs. Wage Maximization
DOI: 10.2298/EKA0773007S

2. Author: Zoran Popović
Pages: 36-84
Pareto’s Optimum in Models of General Economic Equilibrium With the Asset Market
DOI: 10.2298/EKA0773036P


3. Author: Ahmet Burçin Yereli, İbrahim Erdem Seçilmiş, Alparslan Başaran
Pages: 85-104
Shadow Economy and Public Debt Sustainability in Turkey
DOI: 10.2298/EKA0773085B

4. Author: Ljiljana Kontić
Pages: 105-132
Key Factors in Strategy Choice For an Enterprise Recovery
DOI: 10.2298/EKA0773105K

5. Author: Bojan Đorđević
Pages: 133-158
Relationship Marketing in Digital Economy
DOI: 10.2298/EKA0773133D


6. Author: Miroslav Prokopijević
Pages: 159-176
Džejms Bjukenen ili kako je javni izbor postao nauka


7. Author: Kosovka Ognjenović
Pages: 177-188
Prikaz knjige: Izazovi ekonomske politike Srbije u 2007. godini


8. Author:
Pages: 189-190
Defended M.A. theses in the Faculty of Economics



1. Djordje Šuvaković Olgin and Goran Radosavljević

Monopsony in the Labor Market: Profit vs. Wage Maximization
DOI: 10.2298/EKA0773007S

ABSTRACT: This paper compares the efficiency of profit- and wage-maximizing (PM and WM) monopsony in the labor market. We show that, both locally and globally, a PM monopsony may well be dominated by its WM twin, where the local and global dominance are defined with respect to a single (inverse) labor supply function and a single family of such functions. This family is always divided in the two disjoint (sub)families of the PM and WM dominance. We also analyze some major factors that explain the size of these (sub)families.

KEY WORDS: Monopsony; Labor Market; Profit Maximization; Wage Maximization

2. Zoran Popović

Pareto’s Optimum in Models of General Economic Equilibrium With the Asset Market
DOI: 10.2298/EKA0773036P

ABSTRACT: A model of the general economic equilibrium of sequential structures includes the asset market, where assets are instruments of sequential income redistribution. The model should explain relative prices of commodities, on one hand, and establish the asset pricing as an instrument of income redistribution, on the other, enabling the analysis of sequential income transfers. This paper mainly researches Pareto’s optimum of a defined mathematical model of the general economic equilibrium in both complete and incomplete asset markets. The existence of the latter partly disables an economic system to transfer income through time sequences properly, which results in equilibrium allocations not reaching Pareto’s optimum.

KEY WORDS: General economic equilibrium; Dynamic models; Complete and incomplete asset markets; Pareto’s optimum.


3. Ahmet Burçin Yereli, İbrahim Erdem Seçilmiş and Alparslan Başaran

Shadow Economy and Public Debt Sustainability in Turkey
DOI: 10.2298/EKA0773085B

ABSTRACT: The aim of this study is to examine the relationship between the shadow economy and public debt in Turkey. We elaborate on the questions regarding the negative effects of shadow economy on the sustainability of public debt observing the estimates about the size of shadow economy in Turkey. In the light of some scholars’ estimates, we re-evaluate the macroeconomic situation of Turkey. At the core of the study, we discuss how the government borrowing policies would differ if the shadow economy was included into the legal system. In order to examine the effects of shadow economy on sustainability, we use various sustainability indicators. There is a significant difference observed between the calculations which take into account the volume of shadow economy as a share of economic system and those that exclude shadow economy as an exogenous variable.

KEY WORDS: Public Debt, Shadow Economy, Sustainability

4. Ljiljana Kontić

Key Factors in Strategy Choice For an Enterprise Recovery
DOI: 10.2298/EKA0773105K

ABSTRACT: The main purpose of our research is to construct and apply a framework for strategic choice, which is essential for successful recovery. Based on analysis of relevant literature and empirical studies of recovery, we proposed four different recovery strategies such as management changes, financial restructuring, internal or external strategies. We have identified and included the following seven factors in analytical framework: causes of crisis, the phase of crisis, available resources, organizational life cycle, competitive position, industrial level, and stakeholder influences in organizational survival, expecially banks and other creditors. Furthermore, we examined the application of this framework to six case studies of enterprises in Serbia.

KEY WORDS: Strategy, Recovery, Management, Crisis

5. Bojan Đorđević 

Relationship Marketing in Digital Economy

ABSTRACT: Relationship marketing in digital economy represents a new phase of marketing development in the XXI century. Key features lie in the development of closer relationship and cooperation between companies and their Internet consumers and partners. It was the problem of nonestablished e-relationships that was the main reason for failure of those companies that first started their new, digital environment business. Challenge for companies in the future will be introducing the CRM concept, with the main goal of bringing the high statisfaction and loyalty to their consumers in the e-market.

KEY WORDS: Relationship marketing, digital economy, loyalty, consumers