Since the late 1980s, agriculture in Central and Eastern European Countries (CEECs) has been under considerable adjustment pressure due to changing political, economic and institutional environments. These changes have been linked to the transition process, as well as the ongoing integration...

Since the seminal work of Adam Smith, markets have been considered an efficient tool for co-ordinating the behaviour of economic agents. The basic characteristic of a market economy is that the complex system of interaction among individuals is not centrally coordinated. Under the assumption of...

This study investigates whether an insufficient short-term financing causes losses for Russian agricultural farm and what is their upper boundary. The modified Bayesian formalism provides a workaround for scarce and in-complete data in our data set. This formalism is incorporated into the...