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  Human Action, Part Four, Chapter XXI.Work and Wages && 7-9

  The self-sufficient man who works in economic isolation for the direct satisfaction of his own needs only, stops working at the point at which he begins to value leisure, the absence of labor's disutility, more highly than the increment in satisfaction expected from working more. Having satisfied his most urgent needs, he considers the ... The self-sufficient man who works in economic isolation for the direct satisfaction of his own needs only, stops working at the point at which he begins to value leisure, the absence of labor's disutility, more highly than the increment in satisfaction expected from working more. Having satisfied his most urgent needs, he considers the satisfaction of the still unsatisfied needs less desirable than the satisfaction of his striving after leisure.

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  A Process of Implementation of Investment Projects within the Scope of Corporate Innovation Activities

  The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the insufficient knowledge on the investment practices in this field and the available financing programmes. By means of ... The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the insufficient knowledge on the investment practices in this field and the available financing programmes. By means of the process approach the article aims to clarify the nature of investments and innovation, innovation project management and the possible sources of financing. An attempt has been made to justify the need for a methodology of investment projects implementation within the scope of corporate innovation activities as well to formulate some principle requirements for it.

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  Algorithm for Econometric Estimation of the Aggregated Production Function by Transcendental Logarithmic (translog) Approximation

  The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the first quarter of 1996 to the first quarter of 2007, is examined the elasticity of substitution of production factors. It ... The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the first quarter of 1996 to the first quarter of 2007, is examined the elasticity of substitution of production factors. It is tested three types of production functions – a production function with variable elasticity of substitution of factors (VES-function), a production function with constant elasticity of substitution of factors (CES-function) and classical Cobb-Douglas function. Estimates of the parameters were obtained with the least squares method, applied to transcendental logarithmic (translog) approximation of the production function.