By assuming that a large share of investors (which we call fundamentalists) follows a fundamental approach to stock picking, we build a discounted cash flow (DCF) model and test on a sample of high-tech stocks whether the strong and the weak version of the model are supported by data from the US...

The bulk of Information and Communication Technology is made of weightless, implementable and infinitely reproducible knowledge products (such as software and databases). These products are transferred by telephone lines, accessed through internet hosts and processed and exchanged through...

Globalisation of product and labour markets has dramatically evidenced the market failure generated by the monopsonistic/oligopsonistic power of exporters dealing with unskilled workers (subcontractors). The absence of a global benevolent planner and unequal representation mechanisms in...

The bulk of Information and Communication Technology is made of weightless, implementable and infinitely reproducible knowledge products (such as software and databases). These products are transferred by telephone lines, accessed through internet hosts and processed and exchanged through...

By assuming that a large share of investors (which we call fundamentalists) follows a fundamental approach to stock picking, we build a discounted cash flow (DCF) model and test on a sample of high-tech stocks whether the strong and the weak version of the model are supported by data from the US...

Globalisation of product and labour markets has dramatically evidenced the market failure generated by the monopsonistic/oligopsonistic power of exporters dealing with unskilled workers (subcontractors). The absence of a global benevolent planner and unequal representation mechanisms in...

We study the effects of an intervention aimed at identifying and containing outbreaks in a network model of contagion where social distance is endogenous. The intervention induces a fall in the risk of infection, to which agents optimally respond by reducing social distance. If the intervention...

Signaling models of esteem have implications for peer pressure. Using Bénabou's and Tirole's "honor-stigma" model, we analyze how the pressure to engage in costly signaling changes with the distribution of peers' attributes. In particular, we provide novel comparative statics on the effects of...

We formally explore the idea that punishment of norm-breakers may be a vehicle for the older generation to teach youngsters about social norms. We show that this signaling role provides sufficient incentives to sustain costly punishing behavior. People punish norm-breakers to pass information...

We use a simple cost-benefit analysis to derive optimal similarity judgments - addressing the question: when should we expect a decision maker to distinguish between different time periods or different prizes? Our key premise is that cognitive resources are costly and are to be deployed only...