The paper presents a model of network formation where every connected couple give a contribution to the aggregate payoff, eventually discounted by their distance, and the resources are split between agents through the Myerson value. As equilibrium concept we adopt a refinement of pairwise...

In multiple principal, multiple agent models of moral hazard, we provide conditions under which the outcomes of equilibria in direct mechanisms are preserved when principals can offer indirect communication schemes. We discuss the role of random allocations and recommendations and relate the...

Official Italian statistics undervalue the presence of short-term labour contracts. A more careful account of short term labour contracts more than doubles the official figures ranking Italy among the countries with a large amount of temporary work. Temporary labour contracts represent half of...

This paper deals with the Benetton’s approach to advertising and with the changes in the image of the company since its foundation in 1965 up to the 2000s. Links among the evolution in promotional, distributional and productive strategy are discussed.

The aim of the paper is to examine the role of rural development strategies in a new Member State (Romania) and, in particular, to analyse the case of the metropolitan area of the Bucharest-Ilfov region. The analysis concerns the selected strategies for the programming period 2007-2013, in the...

In this paper we study, within a formal model, market environments where information is costly to acquire and is of use also to potential competitors. Agents may then sell, or buy, reports - of unverifiable quality - over the information acquired and choose the trades in the market on the basis...

In a mean-variance economy where controlling shareholders can divert profits, equity ownership is more concentrated the higher the stock returns correlation. A higher returns correlation reduces the benefits of diversification, giving rise to both a higher investment by the controlling...

The principal scope of this paper is to reconstruct the chain-of-command that regards the implementation of a regional tourism development strategy, in particular the tourism marketing policy. Starting point of the analysis was the assumption that the quality of the governance of these...

This paper aims at the production of a chronology for the EU15 business cycle by comparing parametric and non-parametric procedures on monthly and quarterly data as well in a combined approach. The main innovation is the joint use of the monthly series for the EU15 Gross Domestic Product (GDP)...

Despite the entry into force of the Kyoto Protocol, the US decision not to comply with its Kyoto commitments seems to drastically undermine the effectiveness of the Protocol in controlling GHG emissions. Therefore, it is important to explore whether there are economic incentives that might help...