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Replies to the comments made by Thomas Mayer (2004) regarding the productivity of economic research. Optimal rate of scientific exploration and little evidence of socially efficient investment, at least with respect to economics; Technical issues raised by Mayer; Increased production of highly-cited papers.

The article presents the editorial policy of KYKLOS, one of the best ranked general economics journals in Continental Europe. A refereed economics review, the journal provides significant advantages to the authors, apart from the high quality and wide publicity. In accepting manuscripts for publication, based on the referee reports, the editors decide whether the paper is, in principle, suitable for publication.

This article presents information on the editorial policy of the journal KYKLOS. It is informed that KYKLOS is a refereed economics review with a large readership and circulation in Europe, North America and elsewhere around the globe. It is proud of being one of the best-ranked general economics journals in Continental Europe. Based on the referee reports about the general quality of the papers submitted, the editors decide, usually within about two months of submission, whether the paper is in principle suitable for publication in KYKLOS. To speed up the process, in obvious cases oral reports by the referees are sufficient.

The article reflects on the editorial policy of the periodical "Kyklos." "Kyklos" is considered as one of the best ranked general economics journal in Continental Europe. The basic principle of the journal is that the authors should be able to convey their ideas to the public. More information on the subject matter is discussed.

Many transition policies, based on the existing neoclassical economic theories, failed in Eastern Europe, the former Soviet Union, and China. This paper argues that the failure is due to the implicit viability assumption of neoclassical economics. The existing neoclassical economics implicitly assumes that a firm is expected to earn a socially acceptable profit in an open, competitive market as long as the firm has normal management. However, many firms in socialist as well as transitional economies are not viable, that is, they will not be able to earn a socially acceptable profit in an open, competitive market even if they are under normal management because they are in sectors that are inconsistent with their economies' comparative advantages. Under the viability assumption, neoclassical-based reform policies focus on issues related to property rights, corporate governance, government interventions and other issues that may obstruct a firm's normal management. However, many of these issues are in fact endogenous to the firms' viability problem. Therefore, without resolving the firms' viability problem, such reforms fail to achieve their intended goals. Not only in socialist and transition economies but also in many developing economies there exist many nonviable firms. This paper suggests that the viability assumption in neoclassical economics should be relaxed when analyzing socialist, transition and developing economies. [ABSTRACT FROM AUTHOR]

The article offers hints for prospective authors of KYKLOS, one of the best ranked general economics journals in Continental Europe. The paper must address succinctly with a topical economic and/or social issue of interest to general readers. Analyses on a certain topic must bear originality and the paper must go beyond the narrow boundaries of prevailing economics. Theoretical propositions should be backed by econometric tests and historical or circumstantial evidence.

Cites the different types of contributions preferred by the editors of the periodical "Kyklos". Papers that deal succinctly with a topical economic and/or social issue of interest to general readers; Papers that analyze a topic in an original way; Suggestion that papers dealing with specific issues for only one particular country are less desirable.

Presents views on the contributions of economist Bruno Frey in economics and social sciences. Combination of economics and social sciences; Assumption of intrinsic motivation; Skepticism on the collections of articles.

Preference Reversal Phenomenon (PRP) has been most often scrutinized as a puzzle of‘preferences’, while the discovery of the‘endowment effect’ explicitly questions the parity between preference and price. The author's experiment (N= 186) connects these two extraordinary findings and illustrates that PRP is only a reversal of price in a‘market.’ PRP merely proves that subjects demand to be compensated based on loss under market access deprivation when a‘maximum buying’/‘minimum selling’ price is elicited, and preference transitivity is restored once the misleading market manipulation is experimentally controlled.By defending preference transitivity, the author asserts that normal access to the bargaining process is indispensable for a competitive market where preference price parity is required.To make valid measurements of preference and price, the sealed envelope method is substituted for the judged-indifferent-point (JIP) method, and the binding statement method is substituted for the Becker-DeGroot-Marschack method. McNemar test scores are calculated to compare the effects of different methods. [ABSTRACT FROM AUTHOR]

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