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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

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

Optimal investment and financial strategies under tax rate uncertainty

Fedele, Alessandro; Panteghini, Paolo; Vergalli, Sergio - 2010 - Current version: March 23, 2010

In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt...

Persistent link: https://www.econbiz.de/10008729101

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

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

Land conversion pace under uncertainty and irreversibility : too fast or too slow?

Di Corato, Luca; Moretto, Michele; Vergalli, Sergio - 2011

In this paper stochastic dynamic programming is used to investigate land conversion decisions taken 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...

Persistent link: https://www.econbiz.de/10009379745

Social democracy and distributive conflict in the UK : 1950 - 2010

Fiorio, Carlo V.; Mohun, Simon; Veneziani, Roberto - 2013

In the last three decades, two questions have been central for the Left. Is there a future for electoral socialism and social democracy? And, is it any longer possible to promote a significant redistribution of income in favour of labour? Political and economic events seem to suggest negative...

Persistent link: https://www.econbiz.de/10009753328

The measurement of labour content : a general approach

Yoshihara, Naoki; Veneziani, Roberto - 2013

theory. …

Persistent link: https://www.econbiz.de/10009753329