We study the equilibrium of the all-pay auction with complete information and a reserve price, and compare it with that of standard auctions. The seller should set a reserve price even when she faces incomplete information. In the latter setting, ex-ante asymmetry among bidders appears necessary...

We deal with two-way contingency tables having ordered column categories. We use a row effects model wherein each interaction term is assumed to have a multiplicative form involving a row effect parameter and a fixed column score. We propose a methodology to cluster row effects in order to...

We study an overlapping generations model á la Diamond in which two types of agents are alive at the same time. One type of agents cares about its own level of consumption and an idex of environmental quality, while the other type of agents carse only about its own consumption. At any period,...

This note shows that full price indexation is not optimal in the long-run in the New Keynesian model. Moreover, we show that more price stickiness may increase steady state welfare, if price indexation is partial.

This paper aims at proposing a first theoretical framework for studying the basic income sustainability. We consider the basic income not only as a tool of a policy to improve living standards and social well-being but, mostly, as the essential requisite to introduce a new stable compromise...

Building predictive models for genomic mining requires feature selection, as an essential preliminary step to reduce the large number of variable available. Feature selection is a process to select a subset of features which is the most essential for the intended tasks such as classification,...

In the perpetual youth overlapping-generations model of Blanchard and Yaari, if leisure is a normal good then some agents will have negative labour supply. We suggest a solution to this problem by using a modified version of Greenwood, Hercowitz and Huffman's utility function. The modification...

We consider an oligopolistic model with product differentiation in which firm's costs are not given exogenously but are the result of a wage bargaining process between firms and local unions. Using a generalised version of the model of Lopez and Naylor (2004) we compare Cournot and Bertrand...

This paper deals with utility (or value) function for reference dependent models. A new characterization of S-shaped utility functions displaying loss aversion is put forward. Then it is used to analyze some standard forms commonly used in the literature. It is shown that, unless some...