This paper analyzes the process of social aggregation in an environment in which there are agents with different endowments that can form coalition to produce and divide an output; there is an aggregation force determined by an increasing returns to scale technology, but imperfect information on...

In this paper we analyse a growth model where agents have different factors' endowments and form coalitions to produce output. Economic growth is the result of accumulation of human capital. The latter is a by-product of production activity within a coalition. The grand coalition corresponds to...

The authors provide a theoretical framework to model the workers' choice problem of opting among different pension schemes, a choice problem that is common to several countries that have reformed their social security system in the last decades. This process is currently affecting private sector...

In this paper we aim at providing a theoretical framework to model workers’ choice problem of switching between different pension schemes. This choice problem is common in several countries that have reformed their social security system in the last decades. Although with some specific...

In this paper we aim at assessing the outcomes of the 2007 Italian reform of the complementary social security and to identify the determinants behind them. The reform gave relevant incentives to workers to switch from investing about 7% of their gross wages into a compulsory defned benefit...