Search results for: American/European options

Authors: Markéta Slováková

Abstract:

The largest share of policy and money within the European Union goes to agriculture. The Union’s Common Agricultural Policy has undergone several transformations in the last five decades, with the main change taking place in the 1990s. This change influenced agriculture in the Czech Republic, inasmuch as the fledgling republic was preparing to join the European Union and adopt its policies. In the 1990s, Czech agriculture passed from a centrally planned economy to a market economy and subsequently adopted the terms of the Common Agricultural Policy. The Czech Republic is also characterized by a significant diversification of landscape sphere. Agricultural entrepreneurs in the Czech Republic are still not accustomed to the possibility of grants from the European Union. They focus rather on national or regional subsidies. Only half of all agricultural entrepreneurs in the Czech Republic use European subsidies. This article focuses on the introduction of the Common Agricultural Policy to the Czech Republic and its subsequent influence on Czech agriculture. It is demonstrated through the implementation rate of the CAP in the EU Member States and a closer focus on Czech integration.

Keywords: Common Agricultural Policy, Agriculture, European Union, Transformation.

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Authors: R.Balamurugan, S.Subramanian

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This paper presents the solution of power economic dispatch (PED) problem of generating units with valve point effects and multiple fuel options using Self-Adaptive Differential Evolution (SDE) algorithm. The global optimal solution by mathematical approaches becomes difficult for the realistic PED problem in power systems. The Differential Evolution (DE) algorithm is found to be a powerful evolutionary algorithm for global optimization in many real problems. In this paper the key parameters of control in DE algorithm such as the crossover constant CR and weight applied to random differential F are self-adapted. The PED problem formulation takes into consideration of nonsmooth fuel cost function due to valve point effects and multi fuel options of generator. The proposed approach has been examined and tested with the numerical results of PED problems with thirteen-generation units including valve-point effects, ten-generation units with multiple fuel options neglecting valve-point effects and ten-generation units including valve-point effects and multiple fuel options. The test results are promising and show the effectiveness of proposed approach for solving PED problems.

Keywords: Multiple fuels, power economic dispatch, selfadaptivedifferential evolution and valve-point effects.

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Authors: Sayed Hadi Sadeghi

Abstract:

This research study examines the current state of support services for e-network practice in an Australian and an American university. It identifies information that will be of assistance to Australian and American universities to improve their existing online programs. The study investigated the two universities using a quantitative methodological approach. Participants were students, lecturers and admins of universities engaged with online courses and learning management systems. The support services for e-network practice variables, namely academic support services, administrative support and technical support, were investigated for e-practice. Evaluations of e-network support service and its sub factors were above average and excellent in both countries, although the American admins and lecturers tended to evaluate this factor higher than others did. Support practice was evaluated higher by all participants of an American university than by Australians. One explanation for the results may be that most suppliers of the Australian university e-learning system were from eastern Asian cultural backgrounds with a western networking support perspective about e-learning.

Keywords: Support services, e-network practice, Australian universities, United States universities.

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Authors: Behzad Moeini Sam, Sara Mohammadi Avandi, Afroz Kianpor

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The rituals of fire among the Iranians originate in the general Proto-Indo-European and Indo-Iranian eras when they lived in regions known as the Pontic-Caspian (Indo-Europeans) and Kazakhstan (the Andronovo culture belonging to the Indo-Iranian tribes), and we can get to know about their vulgar heritage despite their separation from each other during several millennia. The early Aryan settlers of Iran had brought their cults to their new home and were bequeathed to them by their Indo-Iranian ancestors. Tradition speaks of several great sacred Iranian fires consecrated by the pre-Zoroastrian kings. Ātar or fire is comparable to the Vedic Agni Atar's functions and elaborately are delineated in the Later Avesta. This paper aims to show the fire cults among the Iranian Lur tribes who originate in the past. Therefore, it will be searched for rituals equally in Indo-European and Indo-Iranian Periods and Old Iranian Texts and their frequency among the Lur tribes. In addition to the library books, we tried to interview the chiefs of Lur tribes. Finally, we concluded that the fire among the Lur Tribes is a sequence of beliefs of the Proto-Indo-European and Indo-Iranian Periods reflected in Old and Middle Iranian texts.

Keywords: Indo-European, Ancient Iran, Fire, Lur, Zoroastrian.

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Authors: Christina Babatsou, Efthimios Zervas

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Since 2008 a new economic crisis is present is the entire planet. This crisis affects several domains of the economic but also of the social life. Consumption decreases due to the lack of necessary resources of households to increase their expenditures. The car manufacturing is one of the main industrial activities in European Union (EU) and the present crisis particularly affects it. The present study examines the correlations between several socio-economic indicators and car market in European Union. The target is to find out the impact of the present economic crisis on the car market in EU.

Keywords: European Union, Passenger cars, Social indicators, Correlations

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Authors: Dongkoo Yun, Melissa James-MacEachern

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This study analyzes Americans’ views of four Atlantic Canadian provinces as travel destinations regarding specific destination attributes for a pleasure trip, awareness (heard) of the destinations, past visit to the destinations during the prior two years, and intention to visit in the next two years. Results indicate that American travellers perceived the four Atlantic Canadian provinces as separate and distinct when rating best-fit destination attributes to each destination. The results suggest that travel destinations, specifically the four selected destinations, must be prepared to differentiate their destination’s image and the range of experiences and services to appeal and attract more American travellers.

Keywords: Atlantic Canadian provinces (travel destinations), American perceptions, competitiveness, positioning analysis.

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Authors: M. de Miguel Molina, V. Santamarina Campos, M. V. Segarra Oña, B. de Miguel Molina

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Safety and security concerns play a key role during the design of civil UAs (aircraft controlled by a pilot who is not onboard it) by the producers and the offer of different services by the operators. At present, European countries have fragmented regulations about the manufacture and use of civil drones, therefore the European institutions are trying to approach all these regulations into a common one. In this sense, not only law but also ethics can give guidelines to the industry in order to obtain better reports from their clients. With our results, we would like to give advice to the European industry, as well as give new insights to the academia and policymakers.

Keywords: Ethics, regulation, safety, security.

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Authors: María José Benítez Jiménez

Abstract:

Article 3 of the European Convention for the Protection of Human Rights and Fundamental Freedoms (E.C.H.R.) proclaims that no one may be subjected to torture, punishment or degrading treatment. The legislative correlate in Spain is embodied in Article 15 of the Spanish Constitution, and there must be an overlapping interpretation of both precepts on the ideal plane. While it is true that there are not many cases in which the European Court of Human Rights (E.C.t.H.R. (The Strasbourg Court)) has sanctioned Spain for its failure to investigate complaints of torture, it must be emphasized that the tendency to violate Article 3 of the Convention appears to be on the rise, being necessary to know possible factors that may be affecting it. This paper addresses the analysis of sentences that directly or indirectly reveal the violation of Article 3 of the European Convention. To carry out the analysis, sentences of the Strasbourg Court have been consulted from 2012 to 2016, being able to address any previous sentences to this period if it provided justified information necessary for the study. After the review it becomes clear that there are two key groups of subjects that request a response to the Strasbourg Court on the understanding that they have been tortured or degradingly treated. These are: immigrants and terrorists. Both phenomena, immigration and terrorism, respond to patterns that have mutated in recent years, and it is important for this study to know if national regulations begin to be dysfunctional.

Keywords: European convention for the protection of human rights and fundamental freedoms, European Court of Human Rights, sentences, Spanish Constitution, torture.

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Authors: D. M. Mongelli, M. De Carli, L. Carnieletto, F. Busato

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This research aims to provide a contribution to the reduction of fossil fuels and the consequent reduction of CO2eq emissions for each European region. Simulations have been carried out to replace fossil fuel fired heating boilers with air-to-water heat pumps, when allowed by favorable environmental conditions (outdoor temperature, water temperature in emission systems, etc.). To estimate the potential coverage of high-temperature heat pumps in European regions, the energy profiles of buildings were considered together with the potential coefficient of performance (COP) of heat pumps operating with flow temperature with variable climatic regulation. The electrification potential for heating buildings was estimated by dividing the 38 European countries examined into 179 territorial units. The yields have been calculated in terms of energy savings and CO2eq reduction.

Keywords: Decarbonization, Space heating, Heat pumps, Energy policies.

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Authors: Reinhard Neck, Guido Schäfer

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In this paper, we explore the macroeconomic effects of the European Single Market on Austria by simulating the McKibbin-Sachs Global Model. Global interdependences and the impact of long-run effects on short-run adjustments are taken into account. We study the sensitivity of the results with respect to different assumptions concerning monetary and fiscal policies for the countries and regions of the world economy. The consequences of different assumptions about budgetary policies in Austria are also investigated. The simulation results are contrasted with ex-post evaluations of the actual impact of Austria’s membership in the Single Market. As a result, it can be concluded that the Austrian participation in the European Single Market entails considerable long-run gains for the Austrian economy with nearly no adverse sideeffects on any macroeconomic target variable.

Keywords: Macroeconomics, European Union, simulation, sensitivity analysis.

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Authors: Mario Spremić, Natalija Kokolek, Božidar Jaković, Jurica Šimurina

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This paper deals with various questions related to functionality and providing banking services in the European union on the Internet. Due to the fact that we live in the information technologies era, the Internet become a new space for doing economic and business activities in all areas, and especially important in banking. Accepting the busy tempo of life, in the past several years electronic banking has become necessity and a must for most users of banking services. On a sample of 300 web sites of the banks operating in European Union (EU) we conduct the research on the functionality of e-banking services offered through banks web sites with the key objective to reveal to what extent the information technologies are used in their business operations. Characteristics of EU banks websites will be examined and compared to the basic groups of business activities on the web. Also some recommendations for the successful bank web sites will be provided.

Keywords: Electronic banking, electronic business, European Union banks, internet.

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Authors: Ju-Chun Chien

Abstract:

The validity of Herzberg-s Two-Factor Theory of Motivation was tested empirically by surveying 2372 chemical fiber employees in 2012. In the valid sample of 1875 respondents, the degree of overall job satisfaction was more than moderate. The most highly valued components of job satisfaction were: “corporate image," “collaborative working atmosphere," and “supervisor-s expertise"; whereas the lowest mean score was 34.65 for “job rotation and promotion." The top three job retention options rated by the participants were “good image of the enterprise," “good compensation," and “workplace is close to my residence." The overall evaluation of the level of thriving facilitation workplace reached almost to “mostly agree." For those participants who chose at least one motivator as their job retention options had significantly greater job satisfaction than those who chose only hygiene factors as their retention options. Therefore, Herzberg-s Two-Factor Theory of Motivation was proven valid in this study.

Keywords: Employee job satisfaction, Job retention, Traditional business, Two-factor theory of motivation.

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Authors: Eberechi Weli, Michael Todinov

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The gap between the selection of risk-reduction options in the railway industry and the task of their effective implementation results in compromised safety and substantial losses. An effective risk management must necessarily integrate the evaluation phases with the implementation phase. This paper proposes an essential categorisation of risk reduction measures that best addresses a standard railway industry portfolio. By categorising the risk reduction options into design, operational, procedural and technical options, it is guaranteed that the efforts of the implementation facilitators (people, processes and supporting systems) are systematically harmonised. The classification is based on an integration of fundamental principles of risk reduction in the railway industry with the systems engineering approach.

This paper argues that the use of a similar classification approach is an attribute of organisations possessing a superior level of risk-reduction readiness. The integration of the proposed rational classification structure provides a solid ground for effective risk reduction.

Keywords: Cost effectiveness, organisational readiness, risk reduction, railway, system engineering.

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Authors: Rimpi Rani

Abstract:

In the 2000s, a new migration trend of highly skilled Indian professionals towards Japan has appeared. This paper examines the factors that set off the incoming of highly skilled Indian professionals in Japan, mainly focusing on IT professionals’ immigration, and the reasons of the increase in their number. It investigates the influence of four factors: The Japanese immigration policy, the bilateral relations between India and Japan, the higher education system in India and the American H-1B visa policy with its cap system. This study concludes that increased and continuous supply of highly skilled Indian professionals have intensified the competition for migration to traditional destinations like the USA. This led Indian professionals   to consider other options such as Japan.

Keywords: International migration, India, Japan, highly skilled professionals.

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Authors: Laszlo Vari

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In the digital age, the spread of the mobile world and the nature of the cyberspace, offers many new opportunities for the prevalence of the fundamental right to free expression, and therefore, for free speech and freedom of the press; however, these new information communication technologies carry many new challenges. Defamation, censorship, fake news, misleading information, hate speech, breach of copyright etc., are only some of the violations, all of which can be derived from the harmful exercise of freedom of expression, all which become more salient in the internet. Here raises the question: how can we eliminate these problems, and practice our fundamental freedom rightfully? To answer this question, we should understand the elements and the characteristic of the nature of freedom of expression, and the role of the actors whose duties and responsibilities are crucial in the prevalence of this fundamental freedom. To achieve this goal, this paper will explore the European practice to understand instructions found in the case-law of the European Court of Human rights for the rightful exercise of freedom of expression.

Keywords: Collision of rights, European case-law, freedom opinion and expression, media law, freedom of information, online expression

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Authors: Azza Taha Zaki

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The position Eugene O’Neill occupies in the history of American drama is undisputable. Critics have agreed that the American theatre was waiting for O’Neill to give it substance, character, and value. The American dramatist continues to be considered as a major influence on the body of dramatic repertoire across the globe. The American theatre before O’Neill knew playwrights who were mostly viewed as entertainers. The serious drama had to wait until O’Neill started his career with expressionistic and social drama. His breakthrough, however, came in 1925 when he published Desire Under the Elms, described as the first important tragedy to be written in America. Mourning Becomes Electra, published in 1931, further reinforced the reputation of Eugene O’Neill and was described as his 'magnum opus'. Aspiring to portray the essence of life and man’s innermost conflicts, O’Neill turned to the classical model, rather than to social realistic drama, to create modern tragedies with the aid of the then-new science of psychology. The present paper aims to undertake an in-depth study of how overtones from classical tragedies by the classical masters Aeschylus, Sophocles, and Euripides resonate through O’Neill’s two plays. The paper shows how leaning on classical themes and concepts interpreted in terms of psychological forces have added depth and tragic substance to a modern milieu and produced masterpieces of dramaturgy.

Keywords: classical, drama, O'Neill, modern, tragic

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Authors: Changhong Guo, Shaomei Fang, Yong He

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In this paper, fractional Black-Scholes models for the European option pricing were established based on the fractional G-Brownian motion (fGBm), which generalizes the concepts of the classical Brownian motion, fractional Brownian motion and the G-Brownian motion, and that can be used to be a tool for considering the long range dependence and uncertain volatility for the financial markets simultaneously. A generalized fractional Black-Scholes equation (FBSE) was derived by using the Taylor’s series of fractional order and the theory of absence of arbitrage. Finally, some explicit option pricing formulas for the European call option and put option under the FBSE were also solved, which extended the classical option pricing formulas given by F. Black and M. Scholes.

Keywords: European option pricing, fractional Black-Scholes equations, fractional G-Brownian motion, Taylor’s series of fractional order, uncertain volatility.

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Authors: Niina M. Nissinen

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This paper introduces an approach to construct a set of criteria for evaluating alternative options. Content analysis was used to collet criterion elements. Then the elements were classified and organized yielding to hierarchic structure. The reliability of the constructed criteria was evaluated in an experiment. Finally the criteria were used to evaluate alternative options indecision-making.

Keywords: Conceptual analysis, Content Analysis, Criteria, Decision-Making, Evaluation of Candidates

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Authors: Robert Grzeszczak, Magdalena Gniadzik

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The article deals with one of the most significant issues concerning the functioning of the internal market of the European Union – the free movement of workers and free movement of persons. The purpose is to identify the political and legal effects of the “renationalisation process” on the EU and its Member States. The concept of renationalisation is expressed through Member States’ aim to verify the relationship with the EU. The tendency is more visible in the public opinion of several MS’s of the ‘EU core’ and may be confirmed by the changes applied by the regulatory body. The thesis for the article is the return of renationalisation tendencies in the area of the Single Market, which is supported by, among others, an open criticism of the foundations of EU integration or considerations on withdrawal from the EU by some MS. This analysis will focus primarily on the effects that renationalisation may have on the free movement of persons. The free movement of persons is one of the key issues for the development of the European integration. It is still subject to theoretical reflections, new doubts and practical issues. The latest developments in politics, law and jurisprudence demonstrate the need to reflect on the attempts to redefine certain principles regarding migrant EU workers and their protection against nationality-based discrimination.

Keywords: European law, European Union, common market, free movement of workers, posting of workers, case law.

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Authors: M. Poveda, S. Lozecznik, J. Oleszkiewicz, Q. Yuan

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The goal of this experiment is to evaluate the effectiveness of different leachate pre-treatment options in terms of COD and ammonia removal. This research focused on the evaluation of physical-chemical methods for pre-treatment of leachate that would be effective and rapid in order to satisfy the requirements of the sewer discharge by-laws. The four pre-treatment options evaluated were: air stripping, chemical coagulation, electrocoagulation and advanced oxidation with sodium ferrate. Chemical coagulation reported the best COD removal rate at 43%, compared to 18% for both air stripping and electro-coagulation, and 20% for oxidation with sodium ferrate. On the other hand, air stripping was far superior to the other treatment options in terms of ammonia removal with 86%. Oxidation with sodium ferrate reached only 16%, while chemical coagulation and electro-coagulation removed less than 10%. When combined, air stripping and chemical coagulation removed up to 50% COD and 85% ammonia.

Keywords: Leachate pretreatment, air stripping, chemical coagulation, electro-coagulation, oxidation.

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Authors: Christiono Utomo, Arazi Idrus, Madzlan Napiah, Mohd. Faris Khamidi

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This paper presents a conceptual model of agreement options for negotiation support in multi-person decision on optimizing high-rise building columns. The decision is complicated since many parties involved in choosing a single alternative from a set of solutions. There are different concern caused by differing preferences, experiences, and background. Such building columns as alternatives are referred to as agreement options which are determined by identifying the possible decision maker group, followed by determining the optimal solution for each group. The group in this paper is based on three-decision makers preferences that are designer, programmer, and construction manager. Decision techniques applied to determine the relative value of the alternative solutions for performing the function. Analytical Hierarchy Process (AHP) was applied for decision process and game theory based agent system for coalition formation. An n-person cooperative game is represented by the set of all players. The proposed coalition formation model enables each agent to select individually its allies or coalition. It further emphasizes the importance of performance evaluation in the design process and value-based decision.

Keywords: Agreement options, coalition, group choice, game theory, building columns selection.

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Authors: Alena Dadova, Katarina Holla, Anna Cidlinova, Linda Makovicka Osvaldova, Jiri Vala, Samuel Kockar

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Occupational health and safety (OHS) is an area in which procedures and applications are constantly evolving and changing through legislation and new directives and guidelines. In this way, the relevant organizations strive to ensure continuous progress and the advantage of up-to-date information to ensure safety and prevent occupational accidents. Three ESENER surveys have been carried out in the European Union, led by the Agency for Safety and Health at Work (EU-OSHA). On the basis of surveys, it was determined how European workplaces manage risks and how they manage the field of safety and health protection at work. Thousands of companies and organizations in the European Union were involved in the surveys. Organizations and businesses were presented with a questionnaire that focused on the following topics: the impact of general risks on the field of OSH and the possibility of their management, psychosocial risks and other factors such as stress, harassment and bullying, and employee participation in OSH procedures. The article is dedicated to the fundamental conclusions from these surveys and their subsequent connection with the strategic intent of the Strategic Framework of European Union for the years 2021-2027. In the conclusion, emerging risks are identified and the EU will soon have to deal with them.

Keywords: ESENER, emerging risks, strategic framework in OSH, EU.

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Authors: Lidia Martínez Murillo

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Since the 1990s the American furniture industry faces a transition period. Manufacturers, one of its most important actors made its entrance into the retail industry. This shift has had deep consequences not only for the American furniture industry as a whole, but also for other international furniture industries, especially the Chinese. The present work aims to analyze this actor based on the distinction provided by the Global Commodity Chain Theory. It stresses its characteristics, structure, operational way and importance for both the U.S. and the Chinese furniture industries.

Keywords: M&RC, blended strategy, U.S. furniture industry, Chinese furniture industry.

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Authors: A. J. Otjen

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Native American communities are struggling with unemployment and depressed economies. A major cause is a lack of business knowledge, education, and cultural desire. And yet, in the history of the American West, Native Americans were considered the best traders and negotiators for everything from furs to weapons to buffalo. To improve these economies, there has been an effort to reintroduce that heritage to todays and tomorrows generation of tribal members, such Crow, Cheyenne, and Blackfeet. Professors at the College of Business Montana State University-Billings (MSUB) teach tribal students in Montana to create business plans. These plans have won national small business plan competitions. The teaching and advising method used at MSUB is uniquely successful as theses business students are now five time national champions. This article reviews the environment and the method of learning to achieve a winning small business plan with Native American students. It discusses the five plans that became national champions. And it discusses the problems and solutions discovered in the process of achieving results. Students who participated in this endeavor have graduated and become CPAs, MBAs, and gainfully employed in their chosen professions. They have also worked to improve the economies of their native lands and homes. By educating members of these communities with business strategy and plan development, they are better able to impact their own economies.

Keywords: Entrepreneurship, Native Americans economies, small businesses.

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Authors: Lidia Martínez Murillo

Abstract:

Since the 1990s the American furniture industry faces a transition period. Manufacturers, one of its most important actors made its entrance into the retail industry. This shift has had deep consequences not only for the American furniture industry as a whole, but also for other international furniture industries, especially the Chinese. The present work aims to analyze this actor based on the distinction provided by the Global Commodity Chain Theory. It stresses its characteristics, structure, operational way and importance for both the U.S. and the Chinese furniture industries.

Keywords: M&RC, blended strategy, U.S. furniture industry, Chinese furniture industry.

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Authors: Ingrid Göpfert, Michael Stephan, Wanja Wellbrock, Malte Ackermann

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Empirical insights into the implementation of logistics competencies at the top management level are scarce. This paper addresses this issue with an explorative approach which is based on a dataset of 872 observations in the years 2000, 2004 and 2008 using quantitative content analysis from annual reports of the 500 publicly listed firms with the highest global research and development expenditures according to the British Department for Business Innovation and Skills. We find that logistics competencies are more pronounced in Asian companies than in their European or American counterparts. On an industrial level the results are quite mixed. Using partial point-biserial correlations we show that logistics competencies are positively related to financial performance.

Keywords: Logistics, supply chain management, content analysis, executive boards, multinational corporations.

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Authors: Andreas Ahrens, Jelena Zascerinska

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Emotions are crucial in online classes in adult education. Despite that, a little attention was devoted to the emotional experience of being an online teacher in the field of andragogy, and the online teacher’s emotional perspectives in ever changing environments have to be analysed. The paper aims at the analysis of teachers’ emotional experience in online classes in adult education in selected European countries. The research tends to propose implications for training of teachers who work in online classes in adult education. The survey was conducted in April 2022. In the selected European countries 78 respondents took part in the study. Among them, 30 respondents represented Germany, 28 respondents Greece, and 20 respondents were from Italy. The theoretical findings allow defining teacher emotional experience. The analysis of the elements of the respondents’ emotional experience allows concluding that teachers’ attitude to online classes has to be developed. The key content for teacher training is presented. Directions of further work are proposed.

Keywords: Adult education, online classes, teacher emotional experience, European countries.

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Authors: Ali Safdari-Vaighani

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Pricing financial contracts on several underlying assets received more and more interest as a demand for complex derivatives. The option pricing under asset price involving jump diffusion processes leads to the partial integral differential equation (PIDEs), which is an extension of the Black-Scholes PDE with a new integral term. The aim of this paper is to show how basket option prices in the jump diffusion models, mainly on the Merton model, can be computed using RBF based approximation methods. For a test problem, the RBF-PU method is applied for numerical solution of partial integral differential equation arising from the two-asset European vanilla put options. The numerical result shows the accuracy and efficiency of the presented method.

Keywords: Radial basis function, basket option, jump diffusion, RBF-PUM.

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Authors: Christiono Utomo, Arazi Idrus, Madzlan Napiah, Mohd. Faris Khamidi

Abstract:

This paper presents a conceptual model of agreement options on negotiation support for civil engineering decision. The negotiation support facilitates the solving of group choice decision making problems in civil engineering decision to reduce the impact of mud volcano disaster in Sidoarjo, Indonesia. The approach based on application of analytical hierarchy process (AHP) method for multi criteria decision on three level of decision hierarchy. Decisions for reducing impact is very complicated since many parties involved in a critical time. Where a number of stakeholders are involved in choosing a single alternative from a set of solution alternatives, there are different concern caused by differing stakeholder preferences, experiences, and background. Therefore, a group choice decision support is required to enable each stakeholder to evaluate and rank the solution alternatives before engaging into negotiation with the other stakeholders. Such civil engineering solutions as alternatives are referred to as agreement options that are determined by identifying the possible stakeholder choice, followed by determining the optimal solution for each group of stakeholder. Determination of the optimal solution is based on a game theory model of n-person general sum game with complete information that involves forming coalitions among stakeholders.

Keywords: Agreement options, AHP, agent, negotiation, multicriteria, game theory, and coalition.

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Authors: Ingrid Majerová, Michaela Horúcková

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The concept of competitiveness is currently very frequently used term. However, the interpretation of its essence is different. In this paper, one of the many concepts of competitiveness will be analyzed and that is macroeconomic competitiveness, which is understood as a process, which is based on the productivity growth through the growth of key macroeconomic indicators such as standards of living and employment, where all of these variables must have a sustainable basis. Given the competition is a relative quantity it must be constantly compared with the development of competitiveness in other economies or regions. And this comparison method is also used in the article that compares the macrocompetitiveness of selected economies of the European Economic Area – the Czech Republic, Poland, Austria, Switzerland and Germany. The aim of the paper is to verify the hypothesis concerning the direct correlation between the size of the economy and its competitiveness.

Keywords: Comparison, Competitiveness, European Economic Area, Global Competitiveness Index, Immeasurable Indicators of Competitiveness, Macro-competitiveness.

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