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Liberal principles for social welfare relations in infinitely-lived societies

Lombardi, Michele; Veneziani, Roberto - 2009

This paper extends the analysis of liberal principles in social choice recently proposed by Mariotti and Veneziani (2009a) to infinitely-lived societies. First, a novel characterisation of the inegalitarian leximax social welfare relation is provided based on the Individual Benefit Principle,...

Persistent link: https://www.econbiz.de/10003877125

Vertical integration and operational flexibility

Moretto, Michele (contributor); … - 2008

The main aim of the paper is to highlight the relation between flexibility and vertical integration. To this purpose, we go through the selection of the optimal degree of vertical disintegration of a flexible firm which operates in a dynamic uncertain environment. The enterprise we model enjoys...

Persistent link: https://www.econbiz.de/10003715357

Concession length and investment timing flexibility

Alpaos, Chiara D. (contributor); Dosi, Cesare (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003358901

Strong subjectivism in the Marxian theory of exploitation : a critique

Veneziani, Roberto; Yoshihara, Naoki - 2009

This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo … exploitation index can be constructed. It is argued that a minimal objectivism is necessary in exploitation theory, whereby … related to the 'New Interpretation' ([1]; [3]). It is argued that it captures the core intuitions of exploitation theory and …

Persistent link: https://www.econbiz.de/10003933905

Exploitation as the unequal exchange of labour : an axiomatic approach

Yoshihara, Naoki; Veneziani, Roberto - 2009

Roemer's (1982, 1988) classical approach and all the crucial insights of exploitation theory are generalised, proving that …

Persistent link: https://www.econbiz.de/10003933908

Static and dynamic efficiency of irreversible health care investments under alternative payment rules

Levaggi, Rosella; Moretto, Michele; Pertile, Paolo - 2010

The paper studies the incentive for providers to invest in new health care technologies under alternative payment systems, when the patients' benefits are uncertain. If the reimbursement by the purchaser includes both a variable (per patient) and a lump-sum component, efficiency can be ensured...

Persistent link: https://www.econbiz.de/10008746927

An equilibrium model of habitat conservation under uncertainty and irreversibility

Di Corato, Luca; Moretto, Michele; Vergalli, Sergio - 2010

In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when...

Persistent link: https://www.econbiz.de/10008780408

Investing in biogas : timing, technological choice and the value of flexibility from inputs mix

Di Corato, Luca; Moretto, Michele - 2009

In a continuous-time framework we study the technology and investment choice problem of a continuous co-digestion biogas plant dealing with randomly fluctuating relative convenience of input factor costs. Input factors enter into the productive process together mixed according to a given initial...

Persistent link: https://www.econbiz.de/10008823907

It is never too late : optimal penalty for investment delay in Italian public procurement contracts

D'Alpaos, Chiara; Moretto, Michele; Valbonesi, Paola; … - 2009

We provide a general framework in which to determine the optimal penalty fee inducing the contractor to respect the contracted delivery date in public procurement contracts (PPCs). We do this by developing a real option model that enables us to investigate the contractor's value of investment...

Persistent link: https://www.econbiz.de/10008823913

A product-market theory of industry-specific training

Gersbach, Hans (contributor); Schmutzler, Armin (contributor) - 2006

We develop a product market theory that explains why firms provide their workers with skills that are sufficiently …

Persistent link: https://www.econbiz.de/10003387557