ICANN currently determines which top level domains are available on the A-root server and so restricts the choices facing Internet users. Thus ICANN redistributes wealth and has become the focus of rent-seeking activities. Yet, despite my belief that the Internet will become substantially more...

Although the importance of property rights as the engine of growth remains beyond dispute, this article tries to show that the crucial issue is not so much the definition of the allegedly ‘optimal’ property right system, as the understanding of the ideological elements that justify property...

Il paper prende in esame i principali scritti di Bruno Leoni sul monopolio e sullo Stato, con l’obiettivo di evidenziare come le sue riflessioni sul rapporto tra monopolio ed economia di mercato siano del tutto convergenti con le sue analisi politologiche sul carattere coercitivo...

This paper analyzes the issue costs and initial pricing of bonds in the international market. In particular, we investigate the determinants of three components of issue costs: underwriter fee, underwriter spread (the difference between the offering price and the guaranteed price to the issuer),...

This paper reviews experiments in macroeconomics, pointing out the theoretical justifications, the strengths and weaknesses of this approach. We identify two broad classes of experiments: general equilibrium and partial equilibrium experiments, and emphasize the idea of theory testing that is...

Property rights - rights to control, use, or transfer things (broadly conceived) - though not readily distinguished from other rights, comprise a category of rights that both strongly benefit from clear and well-designed legal rules and often are subject to "chiseling" from failures to follow...

This paper starts with the observation that the United States and Europe, both members of the family of “western-type-modern societies”, should (according to the still prevailing theories of modernization) follow the same pattern of development including secularization. They obviously...

By examining Hayek’s approach to economic policy, this paper tries to show that his understanding of a free-market society was ambiguous, if not contradictory. Hayek was indeed following the Austrian tradition by rejecting technocratic views of policy-making. Nevertheless, he advocated a...