The research aims to examine the difference between absence and presence life cycle stage in technology information digitalization (TID) as a form of open innovation in reducing information asymmetry. Furthermore, companies with asymmetric information prefer debt over equity. The study collects...

This paper analyses the market transformations in heritage tourism destinations when excessivetourism demand determines the emergence of a class of excursionists among visitors. Building onthe approach of Keane (1997) and Shapiro (1983), our model highlights some importantdimensions of...

In this paper, we consider economies in which agents are privately informed about their skills, which are evolving stochastically over time. We require agents' preferences to be weakly separable between the lifetime paths of consumption and labor. However, we allow for intertemporal...

This paper studies the problem of redistribution between individuals having different mortality rates. We use a continuous time model in which there are two types of individuals characterized by different survival probability paths. Individual preferences are represented by a generalized...