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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

Pollution Abatement Investment When Firms Lobby Against Environmental Regulation

Farzin, Y. Hossein; Zhao, Jinhua - Fondazione ENI Enrico Mattei (FEEM) - 2003

In this paper, we study a firm’s optimal lobby behavior and its effect on investment in pollution abatement capital. We develop a dynamic framework where a representative firm can invest in both abatement and lobby capital in response to a possible future increase in pollution tax. We show...

Persistent link: https://www.econbiz.de/10005423082

Concession Bidding Rules and Investment Time Flexibility

Moretto, Michele; Dosi, Cesare - Fondazione ENI Enrico Mattei (FEEM) - 2007

We study the competition to operate an infrastructure service by developing a model where firms report a two-dimensional sealed bid: the price to consumers and the concession fee paid to the government. Two alternative bidding rules are considered in this paper. One rule consists of awarding the...

Persistent link: https://www.econbiz.de/10005423112

Investment Size and Firm’s Value Under Profit Sharing Regulation

Moretto, Michele; Panteghini, Paolo M.; Scarpa, Carlo - Fondazione ENI Enrico Mattei (FEEM) - 2003

In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm’s investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm’s start-up decision relative to a pure price...

Persistent link: https://www.econbiz.de/10005423178

Labour Participation in Different Firm Organisations

Moretto, Michele; Rossini, Gianpaolo - Fondazione ENI Enrico Mattei (FEEM) - 1999

The main issue is the organisation of firms when different degrees of labour participation are taken into account. We start reviewing the literature on the LM firm. We then consider a less radical labour participation, i.e. the Aoki firm. We survey extensions of the Aoki's firm to the case of...

Persistent link: https://www.econbiz.de/10005423250

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