The survey is concerned with the issue of information transmission from experts to non-experts. Two main approaches to the use of experts can be traced. According to the game-theoretic approach expertise is a case of asymmetric information between the expert, who is the better informed agent,...

The paper is concerned with the interaction between two agents: an expert, announcing his probability that a particular state of the world will occur, and a non-expert decision-maker, who takes action according to his posterior beliefs. The decision-maker considers the expert an experiment of...

We analyze the optimal investment strategy of a monopolist which has subscribed a concession contract to provide a public utility, i.e. water service. We present a strategic model in which a monopolist chooses both the timing of the investment and the capacity. We focus not only on the value of...

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 cap...

When assigning a concession contract, the regulator faces the issue of setting the concession length. Another key issue is whether or not the concessionare should be allowed to set the timing of new investments. In this paper we investigate the impact of concession length and investment timing...

The paper examines the determinants that influence the environmental innovation behaviour of companies in Germany in a multivariate context by using data from the Mannheimer Innovations Panel 1993, which was part of the Community Innovation Survey. The objective is to analyse the general...

This paper shows that as long as the stock market has perfect foresight, some dividends are distributed, and incentives are paid more than once or are deferred, stock-related compensation packages are strong incentives for managers to support tacit collusive agreements in repeated oligopolies....

This paper analyzes how the interaction between green consumers and responsible firms affects the market equilibrium. The main result is that a higher responsibility by both producers and consumers can have different impacts on the efficiency of the firms' abatement activity, depending on the...

From 1997 to 2001 we observe in the Usa a faster growth in the number of Nonemployer firms (NF) vis à vis Employer firms (EF). The diverse speed of net entry may be due to particular internal organisation of the two types of firms and the effect that this has on the reactions to market...

This paper discusses a methodology to assess the performances of tourism management of local governments when economic and environmental aspects are considered as equally relevant. In particular, the focus is on the comparison and efficiency assessment of Italian municipalities located on the...