In this note we build a classification of business strategies, starting from the well-known taxonomy first studied by Fudenberg and Tirole (1984). Our tool allows to evaluate the possible outcomes in models of strategic commitment with two players, where both of them are allowed to incur in the...

In this paper we study the intense wave of mergers among Italian mutual cooperative banks (Banche di Credito Cooperativo, BCCs) and try to assess whether those mergers were efficiency-enhancing. For the purpose, we employ a two-step procedure: we first estimate bank-level cost efficiency scores...