The article considers the problem of choosing between the ownership of residential real estate and its rental as a solution to the investment problem. The purpose of the article is to formalize this task using only financial variables (without explicitly including non-monetary preferences) and testing it on real Russian data on real estate and mortgage lending markets. The results can be used: a) at the house-hold level, which usually poorly take into account the financial side of the decision; b) at the level of macroeconomic policy to predict the dynamics of the mortgage market. We identified the following key model parameters: the expected rate of growth in housing and rental prices, mortgage interest, and the planned period of real estate ownership. The model demonstrates that for an average of Moscow or Russian housing with enough period of ownership, the purchase is generally more profitable in the cur-rent macroeconomic conditions. However, if the forecast for the dynamics of changes in housing prices worsens, when the nominal price increase is 5-8% lower than the discount rate, the answer may change in favor of renting. This is especially true in connection with the negative dynamics of real prices in the Russian housing market.  

The airline business strategy determines the competitiveness of the airline services but may also bear antitrust risks of discrimination and abuse of dominance. The study describes the features of the passenger air transportation industry (both at the carrier level and at the airport level), which allow to distinguish groups of airline business models. This is necessary for the subsequent analysis of antitrust risks in the air transportation markets. The article also provides a comparative analysis of the airport tariffs in the Russian Federation in relation to the ability of airports to stimulate competition between airlines. In conclusion the main problems of the passenger air transportation sector of the Russian Federation in the context of competition policy are formulated.  

The issue of the intensity of digitalization in various economic sectors causes the increasing scientific interest among economists and government officials. A correct assessment of the impact of the fourth industrial revolution, or Industry 4.0, on complexes markets is an important task for understanding the process and its impact on the country’s economy. In this paper, a version of a theoretical model is proposed that demonstrates the presence of cyclical and non-cyclical connections between the markets. As a tool of illustration, graph theory was used, which is the main way of game theory for demonstration the rational behavior of participants-players.  The companion idea of current work is the fundamental question of economic theory, which is expressed in the existence of the dominate role of the firm in markets with technological link, which may be cyclical or non-cyclical. The example of the cyclic linkage of the markets may be the interaction between markets of a software and OS, while example markets prone digitalization may be high processing industry.  

Long-term thinking and voluntary resource sharing are two distinctive traits of human nature. Across three experiments (N=1,082), I propose a causal connection: Sometimes people are generous because they think about the future. Participants were randomly assigned to either focus on the present or the future and then made specific decisions in hypothetical scenarios. In Study 1 (N=200), future-focused participants shared more money in a public dictator game than present-focused participants (+39%), and they were willing to donate more money to charity (+61%). Study 2 (N=410) replicated the positive effect of future-focus on dictator giving when the choice was framed as public (+36%), but found no such effect when the choice was framed as private. That is, focusing on the future made participants more generous only when others would know their identity. Study 3 was a high-powered and pre-registered replication of Study 1 (N=472), including a few extensions. Once again, future-focused participants gave more money to charity in a public donation scenario (+40%), and they were more likely to volunteer for the same charity (+17%). As predicted, the effect was mediated by reputational concern, indicating that future-orientation can make people more generous because it also makes them more attuned to the social consequences of their choices. Taken together, the results suggest that focusing on the future promotes reputation-based generosity. By stimulating voluntary resource sharing, a central function of human foresight might be to support cooperation in groups and society.   

The work is devoted to a review of the results of the 143rd meeting of the Dispute Club “Economic Policy Knots” of the Association of Russian Economic Think Tanks (hereinafter referred to as ARETT) on the topic “What the Coming Year Prepares for Us: Economy and Markets”. The purpose of the event was to discuss the development of the economy and markets in the coming 2020. Disputants were Yevgeny Borisovich Kogan, president of the Moscow Partners Investment Group, and Yevgeny Ravkhatovich Nadorshin, chief economist at the PF Capital consulting company. The review presents the key ideas of the disputants, and also summarizes the main results of their answers to questions.