An expanded model of value in cooperative games is presented in which value has either a linear or a proportional mode, and NTU value has either an input or an output basis. In TU games, the modes correspond to the Shapley (1953) and proportional (Feldman (1999) and Ortmann (2000)) values. In...

We present a dynamic term structure model in which interest rates of all maturities are bounded from below at zero. Positivity and continuity, combined with no arbitrage, result in only one functional form for the term structure with three sources of risk. One dynamic factor controls the level...

We propose two generalizations of the Davis Maschler reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's (1978) Coarse Core and the other is a subsolution of it which we call the Coarse+ Core.

The conditions under which ordinary least squares (OLS) is an unbiased and consistent estimator of the linear probability model (LPM) are unlikely to hold in many instances. Yet the LPM still may be the correct model or, perhaps, justified for practical reasons. A sequential least squares (SLS)...

This paper carries out an empirical assessment of the relationship between social capital and the quality of economic development in Italy. The analysis draws on a dataset collected by the author including about two hundred variables representing different aspects of economic development and...

The aim of this paper is to trace a map of Italian local social capital endowments. It focuses on the “structural” dimension of the concept, as identified with social networks. The analysis is based on a dataset collected by the author including about two hundred indicators of five main...

This paper carries out an empirical assessment of the relationship between social capital and the quality of economic development in Italy. The analysis draws on a dataset collected by the author including about two hundred variables representing different aspects of economic development and...

This paper carries out an empirical assessment of the relationship between social capital and the quality of economic development in Italy. The analysis draws on a dataset collected by the author including about two hundred variables representing different aspects of economic development and...

The contribution of this paper to the social capital literature is twofold. Drawing on the Italian data, it firstly provides a new framework for measurement, allowing to build indicators for five different components of the multidimensional concept of social capital. Secondly, it provides a...

This paper carries out an empirical assessment of the relationship between social capital and the quality of economic development in Italy. The analysis draws on a dataset collected by the author including about two hundred variables representing different aspects of economic development and...