Motivation: The video game industry is a rapidly evolving, globalised creative sector in which companies face not only formal regulations but also strong informal institutional pressures. Social norms, cultural expectations, and community-driven standards influence how gaming firms design products, shape internal cultures, and respond to reputational challenges. Despite its importance, the role of informal institutions in this context remains underexplored in the strategic economics literature.Aim: The aim of this paper is to categorize specific informal institutions — ranging from internal workplace practices to external digital community norms — and analyze their functional relationship with formal corporate structures using Helmke and Levitsky’s typology. By doing so, the study identifies how these unwritten rules, often emerging outside officially sanctioned channels, influence strategic pivots in response to reputational and institutional crises.Materials and methods: The research adopts a qualitative comparative case study approach to examine three companies: Ubisoft (France), Riot Games (USA/China), and CD Projekt RED (Poland). The cases were selected for their cultural diversity, media visibility, and distinct community relationships. All three companies have also experienced major reputational crises, revealing different institutional responses and providing a common ground for comparison. Data sources include corporate communications, industry reports, media analyses, and secondary academic literature.Results: Findings show that informal institutions significantly influence corporate strategy, often surpassing formal regulations. Utilizing Helmke and Levitsky’s typology, the study demonstrates that workplace cultures and community norms act as substitutive, competing, or accommodating mechanisms. Digital platforms are identified as new evaluative infrastructures that enforce accountability when formal governance fails. Furthermore, global community pressures are filtered through national labour market models, consistent with the Varieties of Capitalism framework. Ultimately, these informal forces are critical for strategic pivots during reputational crises in the global creative economy.
Motivation: One of the major issues facing the modern economy is the high cost of real estate, which significantly limits, or even prevents, many people, particularly those from the Z generation, from purchasing their own homes. As a result, the number of individuals who accept the prospects of renting for their entire lives is increasing. This marks a significant change in attitudes towards property ownership in Poland.Aim: The aim of this study is to identify and evaluate the impact of macroeconomic factors on the average price per 1 m2 of residential properties sold on the secondary market in Poland during the period 2013–2023.Materials and methods: The study utilised quarterly data from the Central Statistical Office (GUS) during the period from the I quarter of 2013 to the IV quarter of 2023. Based on these data, a regression analysis was conducted to determine the statistical significance of selected macroeconomic variables and to assess their impact on changes in property prices. The accuracy of the model was verified using statistical tests.Result: The analysis showed that, on average, the price of 1 m2 of residential properties sold on the secondary market in Poland during the period 2013–2023 was significantly influenced by: the number of unemployed, the consumer price indices (CPI), gross domestic product (GDP), and the average monthly gross salary in the national economy. The inclusion of a lagged variable allowed the study to account for the effects of speculative demand. The constructed model demonstrated a high level of fit to empirical data, confirming its usefulness in describing the analysed phenomenon.
Motivation: In recent years, the global race for technological leadership has intensified, with the United States and China consolidating their positions as frontrunners. In contrast, the European Union (EU) is often portrayed in public debate as technologically lagging behind its global counterparts. This view has gained prominence in political discourse and strategic policy discussions. The notion of a ‘technological lag’ has evolved into a widely repeated slogan. However, the validity of this claim has not been sufficiently tested through comparative data analysis. Understanding whether the EU truly faces a technological disadvantage is crucial for shaping its innovation policies and enhancing its competitiveness in the global economy.Aim: The aim of this study is to critically assess the position of the European Union (that is, indicated by the EU’s member states) in the global technological competition in 2025 by evaluating its innovation performance relative to that of the United States and China.Materials and methods: The research is based on a comparative analysis of secondary data from international reports and databases, including WIPO, IMD, the World Bank, the WTO, and strategic policy papers. To capture the current outlook for 2025, the latest available editions, i.e. from 2020, were selected. Key innovation indicators were also considered to emphasise the focus on the technological aspect of this study.Results: The EU is not technologically lagging overall; however, it faces significant challenges in key future-oriented sectors, primarily due to internal disparities among member states. The EU maintains a strong position in robotics and automation, but does not fully exploit its digitalisation potential, falling behind in regulatory frameworks. The EU faces challenges in commercialising and scaling innovations. Despite the high ranking of EU universities and research institutions, the EU struggles to translate this potential into the market. Implementing changes may enable Europe to effectively compete with the USA and China in the digital era.
Motivation: The ongoing digitalisation and development of artificial intelligence have a significant impact on European economies. Understanding how AI and other digital and social variables influence GDP per capita is crucial for designing effective development policies.Aim: The aim of the article is to identify the impact of digital and socio-economic parameters on the GDP per capita of European countries.Materials and methods: Quantitative analysis was employed in the study, utilising both univariate and multivariate linear regression models. Based on Eurostat data for 2023, the situation was assessed in 28 European countries.Results: The analysis showed statistically significant relationships between most of the evaluated parameters and the level of GDP per capita, particularly strong in univariate models. The strongest effects were observed for the level of AI acceptance and employment in the science and technology sector. In multivariate models, some parameters lost their statistical significance, which may be due to a reduced number of observations and complex relationships between predictors. The results highlight the importance of human resources and digitalisation in shaping the level of economic development.
Motivation: Against the backdrop of rapid digitalisation and the development of blockchain technology, this article examines a new organisational form that has emerged from these trends — the Decentralised Autonomous Organisation (DAO). DAOs aim to address some of the most pressing issues faced by contemporary organisations, including high operating costs, limited transparency, and complex decision-making processes. The revolutionary or evolutionary potential of DAOs continues to grow, calling for closer examination.Aim: The aim of the article is to present the specific features of Decentralised Autonomous Organisations (DAOs) as a new form of organisation in both the real and digital economy, and to compare them with existing organisational forms.Materials and methods: The study employs a literature review that enabled an in‑depth examination of multiple aspects of DAOs, followed by a comparative analysis to illustrate how DAOs address problems faced by traditional organisations.Results: The article concludes that DAOs, as a new concept of enterprise organisation, solve many of the problems of today’s structures, but they also have limitations. The most prominent approach is the development of hybrid organisations that combine the best features and solutions of both DAOs and traditional organisations.
Motivation: The article examines Mongolia’s foreign economic strategy as a case of a small state navigating structural dependence on a dominant economic partner. The motivation for this study arises from the coexistence of two interrelated conditions: Mongolia’s democratic political system and its high degree of economic concentration, particularly its reliance on coal exports to the People’s Republic of China. At the same time, the Mongolian government has articulated an ambitious long-term development agenda (Vision 2050) aimed at economic diversification and energy transformation. This combination raises the question of how a structurally dependent economy can pursue policy autonomy in the face of asymmetric interdependence.Aim: The aim of the article is to identify and analyse the mechanisms through which the ‘Third Neighbour’ Policy operates as a tool for mitigating Mongolia’s economic and infrastructural dependence on China. The study focuses on the political economy dimension of Mongolia–China relations, interpreted through the lens of structural dependence and neocolonial dynamics, while examining how partnerships with selected third countries contribute to diversification efforts. In particular, the article seeks to operationalise the concept of the ‘Third Neighbour’ by identifying which external actors play a measurable role in Mongolia’s economic transformation.Materials and methods: The study employs a mixed-methods approach combining qualitative and quantitative analysis. The empirical material comprises diplomatic documents, government strategies, economic reports, and statistics on foreign trade and investment. The concept of the ‘Third Neighbour’ is operationalised primarily through foreign direct investment (FDI), understood as a measure of long-term economic commitment and investor confidence that is less directly conditioned by geographic proximity and infrastructural constraints than trade flows or transit-based indicators. This enables the identification of external actors whose engagement in Mongolia extends beyond transactional exchange and reflects a sustained strategic interest. FDI-based analysis is complemented by data on imports and ownership structures in the mining sector in order to contextualise investment patterns within Mongolia’s broader trade dependence and resource governance framework. The analytical framework draws on realist and liberal approaches to international relations, supported by official Mongolian policy documents, including Vision 2050 and Mongolia’s foreign policy strategy, as well as international financial and statistical databases.Results: The analysis demonstrates that Mongolia’s dependence on China is primarily shaped by export concentration and infrastructure linkages rather than by foreign ownership of strategic resources. At the same time, the findings indicate that the ‘Third Neighbour’ Policy functions as a polycentric strategy based on diversified investment, development assistance, and sectoral cooperation rather than on a single alternative partner. While this strategy does not eliminate Mongolia’s structural dependence on the Chinese market, it creates limited but tangible avenues for economic diversification and policy flexibility within the constraints imposed by geography, infrastructure, and global energy trends.
Motivation: The apparent consistency or complementarity between freedom and justice as norms defining the space of economic performance is marked by the nature of information networks uniquely obtained under conditions of complete openness, allowing people to pursue their interests through ingenuity and the possibility of unlimited cooperation.Aim: Starting from the central area of Hayek’s discernment, which was knowledge produced and acquired in the market as a result of free decisions made by economic agents focused on the pursuit of individual goals, an attempt will be made to present this perspective on the tension between the values of freedom and justice so fundamentally encroaching on contemporary political and economic discussions.Materials and methods: Critical analysis of text.Results: Hayek did not remain blind to the negative consequences of the liberalism he promoted, although he did not develop an elaborate version of measures to neutralise them. His hints are found in this regard, but remain only general. Perhaps the only ones possible for such trans-social issues. And even in the face of revealed data regarding income inequality, we will not deny that entrepreneurs are the most productive and creative economic units — individuals who, by natural motives, will fight and utilise their abilities under the freedom of competition to establish and maintain their market positions. In a society, the state is the only force opposing these naturally grown potentials — it is only effective with the proper institutional setting for each country.
Motivation: The cultural context in which the economic theory developed makes it questionable whether it can be applicable to societies where violence and corruption are common, just like Russia.Aim: The goal is, therefore, to verify, through an analysis of Russian history and economic thought, whether the Russian economy meets the basic assumptions of economics and can be viewed through its concepts.Materials and methods: This paper provides an overview of the development of economic theory and describes the set of assumptions necessary for economic theory to be applicable in a given society. Next, an analysis of Russian society in the last century is conducted.Results: Due to factors that are not discernible when using only economic statistics, Russian society does not fulfil basic economic assumptions, and as such, it cannot be viewed through the theories of the classical economy. Several solutions are proposed that will make it possible to see similar dissimilarities, and these are based on including psychological and cultural aspects in analysing market behaviour.
Motivation: Analyzing the Austrian School of Economics (ASE) perspective on uncertainty to classify it and make it comparable to other schools of economic thought.Aim: investigating the solutions and mechanisms proposed by Austrian economists L. von Mises, M. Rothbard, I. Kirzner, H. Hoppe, G. L. S. Shackle and L. Lachmann by categorising them within modified taxonomy and thus implicating their assumptions about nature of uncertainty.Materials and methods: The methods employed in the article are an integrative review and a comparative framework called modified taxonomy. Materials consist of chosen works of economists from the Austrian School of Economics.Results: The analysis indicates that authors promoting decentralised solutions such as market perceive uncertainty as stemming from non-economic sources. However, authors promoting more centralised solutions seek uncertainty from human’s ability to create a future (radical subjectivism and determinism).
Motivation: The emergence of the New Institutional Economics (NIE) was a response to the methodological limitations of neoclassical economic models, which lacked explanations concerning the costs of using the market mechanism, the structure of property rights, or institutional evolution. NIE enriches the neoclassical approach by embedding its research models in social realities and focusing on institutions as fundamental variables of economic processes.Aim: This article aims to reconstruct and discuss the methodological foundations of NIE, with particular emphasis on assumptions regarding individual rationality, methodological individualism, and opportunism among transaction partners.Materials and methods: This paper adopts a theoretical-analytical approach based on a literature review. A comparative analysis and an attempt to identify common elements of the institutional research approach were applied.Results: Using the research method, the fundamental methodological assumptions of NIE were reconstructed. These assumptions bring neoclassical economics closer to the realities of socio-economic processes.
Motivation: The inspiration for conducting this research stemmed from the growing popularity of artificial intelligence in the economy. In addition, digital transformation favours the development of e-commerce, which is associated with the need to care for customers’ loyalty to the brand. Due to the increasing frequency of using AI in business operations, including in loyalty programs, an interesting research area has emerged: the impact of this solution on consumers’ behaviour.Aim: The primary objective of this article is to investigate how Polish consumers perceive the use of artificial intelligence tools in loyalty programs. Whereas the detailed aims are to analyse knowledge about using artificial intelligence tools in loyalty programs, identify the disadvantages and advantages of these solutions, and find the dependence between the perception of particular aspects of using artificial intelligence in loyalty programs and the research sample’s metric features.Materials and methods: To prepare for this publication, a review of the latest economic literature and Internet sources related to the analysis of topics was conducted. A survey research with consumers’ participation was also conducted. The collected data were analysed statistically to identify interesting dependencies across all samples, considering metric features.Results: Conducted research enabled a better understanding of consumers’ opinions about using artificial intelligence in loyalty programmes. Thanks to this, there is a better understanding of the motives behind the actions of current consumers and the identification of new research gaps.
Motivation: Record temperatures and intensification of extreme weather events observed in recent years have contributed to the implementation of sustainable transport systems. One way to reduce CO2 emissions and thus improve the quality of life is through micromobility, which encompasses bicycles and electric scooters.Aim: The aim of this study was to identify factors influencing the intentions of Generation Z representatives to use micromobility. In accordance with the assumptions of the Theory of Planned Behaviour (TPB), particular focus was placed on analysing the impact of attitudes, subjective norms, and perceived behavioural control.Materials and methods: The study employed a survey conducted among 167 students from various academic programs. Survey results from the study conducted in May 2025 were subjected to statistical analysis using AMOS and SPSS tools. Correlations between TPB model variables and their impact on students’ attitudes toward micromobility were analysed.Results: Analysis results demonstrated positive attitudes toward micromobility and a significant impact of subjective norms and perceived behavioural control on students’ attitudes toward using these modes of transport. Additionally, environmental awareness was found to be a key factor strengthening pro-environmental attitudes, suggesting the need for further environmental education of Generation Z.
Motivation: The fruit and vegetable processing industry is one of the most water-intensive sectors of the economy, involving significant water consumption at various stages of production. As a result, considerable amounts of wastewater are generated, often characterised by high loads of organic pollutants. In the context of increasing environmental protection pressures, rising water costs, and tightening legal regulations concerning water and wastewater management, analysing both the quantitative water usage and the quality of the resulting wastewater becomes particularly important. Understanding these aspects is crucial not only for reducing environmental impact but also for improving cost efficiency, ensuring regulatory compliance, and enhancing the long-term economic sustainability of processing operations.Aim: The aim of this study is to draw attention to issues related to water consumption and wastewater quality in fruit and vegetable processing plants by conducting a case study of a medium-sized Polish company operating in the fruit and vegetable processing industry, specializing in the production of dried vegetables and fruits. The results are intended to provide a better understanding of the impact of processing activities on the aquatic environment and to highlight areas that require improvements in water and wastewater management, with particular focus on resource optimisation and operational cost reduction.Materials and methods: The study involved analysing wastewater originating from the preliminary processing stage of fresh raw materials, including various fruits and vegetables. Key parameters such as COD (Chemical Oxygen Demand), BOD₅ (Biochemical Oxygen Demand after 5 days), and suspended solids content were measured. In addition, the biodegradability of the wastewater was assessed using TOC (Total Organic Carbon) analysis, selected for its analytical efficiency and economic practicality, especially in the context of designing cost-effective biological treatment systems.Results: The analysis of wastewater samples from the preliminary processing of fruits and vegetables showed significant variability in basic physicochemical parameters. COD values ranged from 960 to 24,300 mg/L O₂, while BOD₅ values ranged from 560 to 13,000 mg/L O₂, indicating a high content of easily biodegradable organic substances. The concentration of total suspended solids varied between 340 and 12,000 mg/L. These values reflect the pollutant load that must be addressed through treatment technologies and are often used as the basis for calculating discharge fees and environmental penalties, making them critical for economic and operational planning in food processing facilities.
Motivation: Understanding the government’s role in shaping business cycles in light of rising populism within the political environment.Aim: This article aims to refine the existing models from the political business cycle literature, emphasising populist phenomena to lay the groundwork for the populist political business cycle (PPBC).Materials and methods: The study employs the selected conceptual approaches in analysing populist presence in the political realm. The inferences from the analysis are then applied to construct a new framework tuned towards delineation of the link between populists and business cycles.Results: The analysis gives a pathway for a new PPBC model, which describes the political order predicated upon three scenarios with variable sequencies: moving towards a heterodox economic status quo, inducing a Latin American populist cycle, or returning to the previous economic status quo.
Motivation: This study is motivated by exploring the specific opportunities and challenges associated with integrating art and creative industries into the social economy environment. Traditional market models often marginalise artists and creative practitioners, particularly those outside mainstream commercial channels. The social economy, emphasising social impact, community ownership, and ethical practices, presents a potentially transformative framework for developing art and creative industries.Aim: This research aims to identify the key opportunities the social economy environment offers for the development of art and creative industries. It is also an attempt to analyse the significant challenges that art and creative industries face when operating within the social economy framework.Materials and methods: The study is theoretical and qualitative. This study employs a mixed-methods approach, with literature review as a foundation. A comprehensive review of existing literature on the social economy, art and creative industries, and their intersection is conducted to establish a theoretical framework.Results: In the last three decades, the sphere of culture in Poland has experienced many changes: first of all, artistic freedom has increased, and in addition to public cultural institutions, non-governmental organisations and private entities have entered the arena. The arts and creative industries have begun to benefit from technological advancements and digitalisation. This study contributes to a deeper understanding of the potential of the social economy to nurture and empower art and creative industries, fostering a more equitable and sustainable creative ecosystem.
Motivation: Since the beginning of 2024, much information has been regarding waves of mass layoffs in Poland. Some media in early 2024 reported that the number of collective redundancies was alarming. Such information may make one wonder whether this state of affairs is different from the data from previous years (the study includes the period from 2016).Aim: This article presents the number of collective redundancies in the post-pandemic period compared to previous years and the reasons that induce employers to reduce employment through collective redundancies.Materials and methods: The study was carried out by analysing selected large companies that made, or reported, a plan to carry out collective redundancies in the post-pandemic period. In addition, the scale of the number of such redundancies in Poland over 2016–2024 was compared. The analysed companies were also compared in terms of the PKD section to which they belong, which allowed to conclude as to what were the main reasons for the collective dismissals. The materials for the study were taken from the EMIS database and collected through direct contact with provincial labour offices.Results: The analysis confirms that the number of collective redundancies carried out varies from 2016 to 2024, but remains at a similar level. Furthermore, it is possible to distinguish the sections of the economy where this situation occurs most frequently. The most significant number of collective redundancies during the analysed period were made in the sections related to industry and trade. This makes it possible to conclude that the most frequent reasons for redundancies are restructuring, poor financial situation, or broadly defined exogenous causes, which have been described in more detail in this article.
Motivation: The development of information and communication technologies in the digital age significantly transforms contracting practices, necessitating adaptation by market participants. The dynamics of online contracts require a deeper exploration of key concepts from the new institutional economics, including transaction costs, property rights, and contracts. Understanding user preferences and experiences is crucial for comprehending the adaptive processes of online contracting, which are increasingly relevant as technology reshapes market interactions.Aim: This article aims to enrich the discussion of institutional economics in the context of online contracting, focusing specifically on the effects of transaction costs, property rights, and contractual adjustments. It seeks to identify user preferences, analyse contract adaptation processes, and offer practical guidance to market participants as they navigate the complexities of online contracts.Materials and methods: The study employs institutional analysis tools to examine the transformation of contracts in the digital environment. A diagnostic survey using a questionnaire technique is used to gather data on user patterns and preferences in online contracting. The institutional economics framework is applied to interpret the findings, particularly concepts like transaction costs and property rights.Results: The analysis reveals how transaction costs and contract flexibility influence the adaptation of contracts in online environments. Key factors driving the choice of specific contract forms are identified, and the research highlights the importance of balancing efficiency, security, and adaptability in online contracts. This study provides insights into the evolution of contracting mechanisms, offering a better understanding of how contracts are modified and adapted to meet changing market conditions.
Motivation: Revisiting the neoinstitutional approach to common-pool resources in light of the increasingly popular concept of the sharing economy.Aim: This article aims to explain the evolution and characterization of common-pool resources, with particular attention to the approach presented by Elinor Ostrom.Materials and methods: The article employs the method of critical analysis of literature, including works by G. Hardin, M. Olson, and E. Ostrom.Results: The review shows that despite the long history of shaping the concept of common-pool resources (CPR), reaching back to Aristotle’s time, researchers still have not unequivocally defined the optimal way to use them. Elinor Ostrom’s research reveals fundamental importance in this regard, in which she makes the functioning of CPRs dependent on accompanying institutions, especially those of a bottom-up nature.
Motivation: This paper addresses the ongoing debate surrounding Bitcoin’s potential to function as an alternative to state-issued fiat currencies. With the advent of Bitcoin and its increasing global prominence, it is essential to explore its viability, particularly in light of its formal adoption in El Salvador as legal tender. The limited supply and decentralized nature of Bitcoin present a significant departure from traditional monetary systems, which raises questions regarding its capacity to fulfill the roles of money under Modern Monetary Theory (MMT).Aim: The primary goal of this paper is to critically examine whether Bitcoin can serve as a functional replacement for fiat money. Using a post-Keynesian analytical framework, this study investigates Bitcoin’s ability to meet the requirements of sovereign money, particularly within the theoretical framework of MMT. The analysis focuses on Bitcoin’s decentralized issuance, limited supply, and its role in fiscal policy and credit creation.Materials and methods: This research employs a critical literature review and a case study analysis, using the framework of MMT and post-Keynesian endogenous money theory to assess Bitcoin’s economic implications and its real-world application in El Salvador’s Bitcoin Law. The study analyzes Bitcoin’s economic implications based on the endogenous money supply model and evaluates its impact on government fiscal policy, credit markets, and economic stability in both theoretical and practical contexts, with a special focus on El Salvador’s Bitcoin Law.Results: The analysis reveals significant limitations in Bitcoin’s ability to function as a fiat currency. Its rigid supply and speculative nature hinder its capacity to serve as a medium of exchange, store of value, and unit of account, as envisaged by MMT. The study concludes that Bitcoin’s decentralized nature and deflationary design pose challenges for its broader adoption as state money, particularly in managing aggregate demand and economic crises.
Motivation: The motivation for the study was the fact that despite of being a small country Singapore is one of the largest recipients of foreign direct investment (FDI) in the world. It is also the location of the largest multinational enterprises (MNEs) in the Pharmaceutical & Biological Products sector.Aim: The objective of this article is to identify and assess the FDI scale and structure in Singapore in the years 1990–2022, with a focus on the Pharmaceuticals & Biological Products sector, and to show Singapore as an FDI location against the background of Asia and the world.Materials and methods: The article uses secondary data from the World Investment Report published annually by the United Nations Conference on Trade and Development (UNCTAD) and statistics published by the Department of Statistics Singapore (DOS). The study uses statistical and economic analysis, comparison, analogies, synthesis, and the method of measuring and aggregating data.Results: Singapore is one of the largest recipients of FDI not only in Asia, but also in the world. In 2022, Singapore’s share of FDI inflows to Asia was 21.3%, and its share of global FDI inflows was 10.9%. From 1998 to 2007, FDI stock in the Pharmaceuticals & Biological Products sector accounted for a significant share of total FDI stock in Singapore and the manufacturing industry, reaching over 40% in 2007. Since then, the share of the analyzed sector has been seeing a downfall. At the end of 2022, the share of FDI in analyzed sector was 4.9% of the FDI in the manufacturing industry and 0.6% of the total FDI.
