The paper analyzes the evolution of the trade specialization patterns in Italy and its main trade partners (France, Germany, and the United States). In the methodological section we discuss the effectiveness of the Lafay index as an indicator of specialization. We then propose some modifications...

The paper examines the reasons that induced Italian Parliament not to approve an antitrust law at the end of the nineteenth century and in the first half of the twentieth, while in the United States, the first national antitrust provision, the Sherman Act, was adopted in 1890. Was the American...

The paper examines the three following issues connected to the energy market: 1.Uncertainty ex ante over demand, and the consequent choice of risking to either overproduce, or to underserve the market. 2.Capacity constraints for the energy firms, with the consequence that production is shared by...

The paper examines the three following issues connected to the energy market: 1.Uncertainty ex ante over demand, and the consequent choice of risking to either overproduce, or to underserve the market. 2.Capacity constraints for the energy firms, with the consequence that production is shared by...

We present an alternative model of government formation in which two parties simultaneously and inpendently announce their polices proposals through a take-it-or-leave-it offer, to a third party - the formateur -, which picks the one that maximizes its own utility. As a consequence, the chosen...

The paper discusses the evolution of the oligopoly theory, starting from Augustin Cournot’s seminal contribution until the most recent developments that extensively exploit the sophisticated tools derived from game theory and mechanism design. We then show how the oligopoly models have been...

In this paper we estimate the benefits resulting from interconnecting the Italian electricity spot market. The market is currently divided into two geographic zones – North and South – with limited interzonal transmission capacity that often induces congestion, and hence potential...

The paper proposes a theoretical framework to analyze the contribution of the trade unions in the compensation schemes. The tendencies, observed in unionized sectors, towards compression of wages and towards an earning profile increasing with seniority are set into an equilibrium model. The...

The paper examines the effects of interconnecting two (network) markets that previously were totally separated. In each market different capacity-constrained firms operate. Firms collude whenever it is rational for them to do so. We identify the maximum sustainable price in each of the two...

This paper explores the link between accountability, corruption and efficiency in the context of a career concern model where politically con- nected local monopolies are in charge of the provision of a local public service. We fi?nd that both corruption and a low degree of accountabil- ity...