This paper examines the impact of policymakers' horizon on the sustainability of international cooperation. We describe a prisoners' dilemma game between two infinitely-lived countries run by policymakers. We show that re-election incentives can act as a discipline device, making it easier to...

We exploit time-use data to investigate Italian couples’ arts participation at joint vs. individual level of partners. By using the most recent available diary data on individual time use in Italian households (ISTAT, 2002-03), we distinguish between arts attendance (going to theater, visiting...

Using a survey of a large group of first and final year students of different disciplines to study their belief in the existence of mutual benefits of market transactions, we observe significant differences between economics and business students on the one hand, and, on the other hand, students...

This paper studies the impact of social trust and formal legal institutions on capital accumulation in a panel of countries. The results not only confirm that both social trust and the quality of formal legal institutions have a positive impact on capital accumulation, but also show that they...

Using an international Thomson Reuters Datastream database, where size coverage is unusually wide and data errors have been reduced to a low level, we show that some specification decisions, and especially those related to size, may have a significant impact on asset-pricing test results. We...

For gold, moving from clandestine to official trading does not significantly change informational efficiency. Both markets are inefficient suggesting that efficiency is linked more to the type of asset than to the legal status of the market.

This paper explores OUIGO (pronounced ‘we go’), the low-cost high-speed rail (HSR) service launched by the French state-owned railways in April 2013. In this exploration, we: (1) compare OUIGO with the traditional French HSR and the low-cost airlines (LCAs), and (2) analyse fares proposed by...

Due to higher oil prices, abundance of labor and suitable land and its stable political climate, Tanzania attracted many investments in Jatropha. Although several studies on Jatropha's economic potential are available, its true economics are still uncertain. This paper aims to add to the growing...