Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hyperbolic Discounting (HD) recently gained particular relevance. This paper points out that, for some particular payoff structures, HD can also represent consistent preferences

This paper analyzes the impact of the reserve price on participation and the degree of competition in competitive tenderingfor public contracts. Our approach aims at reconciling the most recent developments in auction theory with the more practicalissues arising in centralized public...

In a stimulating paper Piccione and Rubinstein (1997) argued how a decision maker could undertake dynamically inconsistent choices when, in an extensive form decision problem, she exhibits a particular type of imperfect recall named absentmindedness. Such imperfection obtains whenever an...

Recent years witnessed a gradual change on how to evaluate successful procurement, in both the private ad the public sector. Indeed from a price-only criterion for measuring success, decisions shifted to a multi-criteria approach where various dimensions of quality, as well as price, are...

A main issue in auction and contest design is how to attract the appropriate pool of potential bidders to enter and compete aggressively. In all-pay auctions with complete information (Baye at al, 1993 AER) formulated the so called “Exclusion Principle” showing that when the auctioneer...

Epidemic, infectious, diseases are a major concern worldwide. Globalization, easy transportation, increased population and climate change all can contribute to their diffusion and persistence in large communities. Based on established knowledge on epidemic diffusion processes, the paper poses...

In recent years neglected diseases attracted much attention. In particular, a debate has developed on which incentive scheme could be more effective to stimulate R&D investments, by pharmaceutical companies, to treat such diseases. The debate took place in conferences, academic journals, reports...

In the Italian Football League rights to a player’s performance could be co-owned by two clubs for one year. Co-ownership must then be resolved and if the clubs fail finding an agreement they are asked by the League to participate to an auction, where each of them submits a price offer for the...

Event-related functional magnetic resonance imaging was used to investigate the neural mechanisms underlying intertemporal preference for symmetric gains and losses in certain conditions, by asking subjects to choose between two gains or two losses available at different points in time. Our data...