This paper aims at characterizing the dynamics of R&D competition within the pharmaceutical domain, focusing on the role of patent disclosure, the extent of uncertainty, and role of scientific advances. Following the empirical literature in the economics of innovation, we employ patents as a...

The paper designs an optimal payment system for a group of producers implementing it empirically. It shows how to implement the first best through higher prices for better quality commodities, deriving the optimal pricing schedule. It also takes into account producers' heterogeneity by modelling...

During the last thirty years health care expenditure (HCE) has been growing much more rapidly than GDP in all OECD countries posing increasing concern on the long-term sustainability of current trends. Against this background, we look at the determinants of HCE in European countries, explicitly...

In this paper we address the topic of guessing games. By developing a generalised theory of naïveté, we show how Güth et al..s result (i.e. convergence toward interior equilibria is faster than convergence toward boundary equilibria) is compatible with Nagel.s theory of boundedly rational...

Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972) and further elaborated by Güth and Kliemt (2004), discusses the problem whether a theory can survive its own acceptance. Whereas this holds for strategic equilibria according to the assumptions on which they are...

In this paper, we study how maritime ferry industries should be regulated. This is a fundamental issue in so far as maritime transport between islands and mainland is a service of general interest. We argue that the policy design crucially depends on the goals the collectivity pursues (pure...

Is culture an important variable to explain whether groups can successfully provide public goods? A wealth of empirical evidence on both industrialized and developing countries shows that cooperation levels decrease in the presence of ethnic divisions. Although several laboratory works deal with...

This paper evaluates the effect of two policy changes on the efficiency of Italian regional governments in the provision of health care services: first a change in the electoral system; second a process of fiscal decentralisation. The electoral system was changed in 1995 and replaced a pure...

In the last 20 years the within countries income inequality has continuously increased. This is a global phenomenon which is observable both advanced and developing countries. Excessive income and wealth inequalities played a role in the genesis of the recent financial crisis and may impair the...

The paper investigates the links between international global imbalances and the recent international financial crisis. It also focuses on the asymmetries of the dollar standard exchange rate regime. Global imbalances preceded the crisis but were one of the ingredients that led to the financial...