The financial world is basically divided in two: on one hand there are the experts, on the other hand the uninitiated. And, very often, it is a system that works: in very few (and very crazy) decided in fact to heal themselves, while the majority supports this division between secular and...

We study monopolistic competition with preferences over differentiated goods characterized by a separable indirect utility rather than a separable direct utility as in the Dixit-Stiglitz model, with the CES case as the only common ground. Examples include linear and log-linear direct demands. In...

In this paper we propose a novel approach to measure risks, when the data available are expressed in an ordinal scale. As a result we obtain a new index of risk bounded between 0 and 1, that leads to a risk ordering that is consistent with a stochastic dominance approach. The proposed measure,...

The late-2000s financial crisis has stressed the need of understanding the world financial system as a network of countries, where cross-border financial linkages play a fundamental role in the spread of systemic risks. Financial network models, that take into account the complex...

Model uncertainty remains a challenge to researchers in different applications. When many competing models are available for estimation, and without enough guidance from theory, model averaging represents an alternative to model selection. Despite model averaging approaches have been present in...

We study monopolistic competition under indirect additivity of preferences. This is dual to the Dixit-Stiglitz model, where direct additivity is assumed, with the CES case as the only common ground. Other examples include (perceived) demand functions that are exponential or linear. Our...

La presente nota, di intenti prevalentemente didattici, prende lo spunto dal corso di Economia Matematica tenuto dal primo degli autori presso il Dipartimento di Scienze Eco- nomiche e Aziendali dell'?Università di Pavia. Ci proponiamo, infatti, di appianare alcune difficoltà relative alla...

We show that cyclic and chaotic dynamics may emerge in a Kaldor-Pasinetti growth model with different saving propensities, Leontief technology and logistic labor force growth rate.

Discrete random probability measures and the exchangeable random partitions they induce are key tools for addressing a variety of estimation and prediction problems in Bayesian inference. Indeed, many popular nonparametric priors, such as the Dirichlet and the Pitman–Yor process priors, select...