In this paper we study the behaviour of labour-managed firms that produce artistic goods. In particular, we investigate whether the production of a particular output — the arts — leads to overcome the static inefficiency entailed by labour-managed firms. The possibility depends on specific...

We analyse the pattern of daily Euro--US Dollar exchange rate from the birth of Euro, in January 1999, until December 2012. This series is I(1), as is usual for nominal bilateral exchange rates; however, it is far from following a random walk process. We find evidence of the presence of day...

This paper takes a time series analysis approach to evaluate the directions of causality between tourism flows, on the one side, and museum and monument attendance, on the other. We consider Italy as a case study, and analyze monthly data over the period January 1996 to December 2007. All...

We present a sequential game to study the introduction of collective property rights, such as trademarks, in cultural districts, aimed at protecting and supporting the idiosyncratic nature of local production. The first step of the game is the public decision on whether creating the trademark or...

This paper presents the results of a contingent ranking study carried out on a sample of tourists visiting the province of Ragusa (in south-eastern Sicily, Italy), known for both its baroque heritage and its sea coasts. I focus only on two attributes of tourism products, namely the accommodation...

This paper shows that the standard result according to which labour-managed firms produce a lower amount of output, as compared to profit-maximising firms, is reversed if production per se gives utility and the workers’ membership of labour-managed firms is set prior to market decisions. Under...