The subject of this paper is how the epistemic limitations of individuals and their biases in reasoning affect collective decisions and in particular the functioning of democracies. In fact, while the cognitive sciences have largely shown how the imperfections of human rationality shape...

Despite the striking evidence of the changing sectoral composition in employment and output shares characterizing the growth process, structural change is usually disregarded in growth modeling. In contrast, we focus on how structural change can affect aggregate growth by presenting a two-sector...

The subject of this paper is how the epistemic limitations of individuals and their biases in reasoning affect collective decisions and in particular the functioning of democracies. In fact, while the cognitive sciences have largely shown how the imperfections of human rationality shape...

The European debt crisis has brought about permanent changes in the Eurozone (EZ). The no-bailout rule was - de facto - removed, new institutions such as the ESM and the banking union were designed and partially implemented, new monitoring and surveillance schemes, such as the macroeconomic...