This paper puts forward a novel approach to the analysis of direct contagion in financial networks. Financial systems are here represented as flow networks -i.e., directed and weighted graphs endowed with source nodes and sink nodes – and the propagation of losses and defaults, originated by...

This paper presents a model of adoption and diffusion of innovations that concern the technology of e-commerce. First, a model of optimal adoption of e-commerce innovation is presented. In this model web companies are assumed to behave in an imitative way: facing an innovation of uncertain...

This work examines then computational cost of processing the information required by Bayesian updating of beliefs. The standard statistical approach adopted by economists, restricted to the exponential family, ignores these computational aspects. To fill this lacuna, two models of probabilistic...

This work examines then computational cost of processing the information required by Bayesian updating of beliefs. The standard statistical approach adopted by economists, restricted to the exponential family, ignores thesecomputational aspects. To fill this lacuna, two models of...

This paper focuses on the role of trade credit in agri-food supply chains, with particular reference to a context of financial turmoil and credit rationing. Trade credit enhances the resilience of firms to liquidity shocks and creates systemic risk. These features of trade credit are...