The present value of growth opportunities with stable long run value and decreasing investment cost is addressed in a real options perspective. The model is solved in terms of closed form solutions, and a duality between elementary real options of waiting to invest is conjectured to be a...

Tra i servizi prodotti e offerti a livello pubblico, un posto sempre più importante è occupato dai servizi sociali e assistenziali, un settore del welfare state che negli ultimi anni ha visto un progressivo processo di decentralizzazione dal livello centrale a quello locale. Sotto il profilo...

The present paper builds on Arrighetti e Curatolo, 2009, 2010 by introducing heterogeneous opportunists into an agent-based simulated world populated by heterogeneous loyal agents playing a repeated coordination game. On average, opportunistic exploitation of economic resources lowers...

This work makes a joint analysis of prevention and saving decisions. First we determine the optimal levels of the two variables and we analyze substitution between them. Second we provide some comparative statics results in order to determine the effects on optimal saving and prevention of...