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Clementi, Gian Luca; Cooley, Thomas; Giannatal, Sonia Di - Fondazione ENI Enrico Mattei (FEEM) - 2010

We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of...

Persistent link: https://www.econbiz.de/10008465540

Predicting one Shot Play in 2x2 Games Using Beliefs Based on Minimax Regret

Gallice, Andrea - Fondazione ENI Enrico Mattei (FEEM) - 2006

We present a simple procedure that selects the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 matching pennies games. As a first step we axiomatically describe players’ beliefs. We find the minimax regret criterion to be the simplest functional form...

Persistent link: https://www.econbiz.de/10005385407

Identity, Homophily and In-Group Bias

Currarini, Sergio; Menge, Friederike - Fondazione ENI Enrico Mattei (FEEM) - 2012

School of Economics, University of Nottingham, University Park Campus and Department of Economics (AE1), Maastricht University

Persistent link: https://www.econbiz.de/10010552188

(Anti-) Coordination in Networks

Kovarik, Jaromir; Mengel, Friederike; Romero, José Gabriel - Fondazione ENI Enrico Mattei (FEEM) - 2010

We study (anti-) coordination problems in networks in a laboratory experiment. Partici- pants interact with their neighbours in a fixed network to play a bilateral (anti-) coordination game. Our main treatment variable is the extent to which players are heterogeneous in the number of connections...

Persistent link: https://www.econbiz.de/10008467327

Coordination in Networks Formation: Experimental Evidence on Learning and Salience

Galizzi, Matteo; Bernasconi, Michele - Fondazione ENI Enrico Mattei (FEEM) - 2005

We present experiments on repeated non-cooperative network formation games, based on Bala and Goyal (2000). We treat … coordination problems. We conduct experiments under various conditions which control for salient labeling and learning dynamics …. Contrary to previous experiments, we find that coordination on non-empty Strict Nash equilibria is not an easy task for …

Persistent link: https://www.econbiz.de/10005385417

Social Capital, R&D and Industrial Districts

Mazzanti, Massimiliano; Cainelli, Giulio; Mancinelli, … - Fondazione ENI Enrico Mattei (FEEM) - 2005

The main idea behind this paper is that social capital is not, as generally suggested by the socio-economic literature, an individual attitude towards something which does not imply privately appropriable economic benefits. Actually, SC might and should be interpreted as a public component of an...

Persistent link: https://www.econbiz.de/10005385385

Modeling Factor Demands with SEM and VAR: An Empirical Comparison

Manera, Matteo - Fondazione ENI Enrico Mattei (FEEM) - 2005

The empirical analysis of the economic interactions between factors of production, output and corresponding prices has received much attention over the last two decades. Most contributions in this area have agreed on the neoclassical principle of a representative optimizing firm and typically...

Persistent link: https://www.econbiz.de/10005385453

Investment in Tourism Market: A Dynamic Model of Differentiated Oligopoly

Cellini, Roberto; Candela, Guido - Fondazione ENI Enrico Mattei (FEEM) - 2004

We present a theoretical model in tourism economics, assuming that the market for tourism is an oligopoly with differentiated products. Destinations (i.e., countries, regions, sites or even firms) can invest in order to improve their carrying capacity that can be interpreted as the stock of...

Persistent link: https://www.econbiz.de/10005385467

Investments in Quality, Collective Reputation and Information Acquisition

Fontini, Fulvio; Millock, Katrin; Moretto, Michele - Fondazione ENI Enrico Mattei (FEEM) - 2013

In many cases consumers cannot observe firms’ investment in quality or safety, but have only beliefs on the average quality of the industry. In addition, the outcome of the collective investment game of the firms may be stochastic since firms cannot control perfectly the technology or external...

Persistent link: https://www.econbiz.de/10010833913

Long-run Investment under Uncertain Demand

Corato, Luca Di; Moretto, Michele; Vergalli, Sergio - Fondazione ENI Enrico Mattei (FEEM) - 2013

In the literature investigating the impact of uncertainty on short-run and long-run investment, most authors have used a log linear profit function. This functional form has been generally considered a reasonable approximation for more general ones and has the advantage of providing closed form...

Persistent link: https://www.econbiz.de/10010833915