The main issue is the organization of firms when different degrees of labor participation are taken into account. We start reviewing the literature on the LM firm. We then consider a less radical labor participation, i.e., the Aoki firm. We survey extensions of the Aoki's firm to the case of...

The paper studies the effect of scale economies on the optimal capacity adjustment of a multiplant firm. It is shown that with increasing economies of scale plants are ranked in decreasing order, after which the optimal choice is to scrap the largest one. On the contrary, if there are decreasing...

In our article we study how uncertainty affects migration choice and how networks are able to mitigate its effects. In particular, we describe a real option model where the migration choice depends on both the wage differential between the host country and the country of origin, and on a network...

Large-scale development of distributed generation power plants has given rise to new critical problems for the design and management of energy systems and electric grids. It is commonly agreed that contingent problems affecting local grids (e.g. inefficiency, congestion rents, power outages,...

Our interest here concerns liquidity supply as a distinctive feature of the bank-firm relationship. Any agent facing an opportunity or a commitment may find him/herself unexpectedly illiquid, and hence he/she may find it profitable to borrow quot;on callquot; if this costs less than missing the...

We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be financially loss-making. In a continuous-time setting with hidden information about operating profits, we show that an exit option, acting as a risk-sharing...

In this paper we investigate land conversion in the presence of voluntary and mandatory habitat conservation policies. Conversion decisions are taken under uncertainty about the value of environmental services by a multitude of landholders competing on the market for agricultural products. We...

The main issue is the organization of firms when different degrees of labour participation are taken into account. We start reviewing the literature on the LM firm. We then consider a less radical labour participation, i.e., the Aoki firm. We survey extensions of the Aoki's firm to the case of...