We develop a general theoretical model to compare two different policymakers both facing tax evasion. Policymakers differs in that they aim to maximize either the fiscal revenues (<InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$T$$</EquationSource> </InlineEquation>) as in a social-democracy as, e.g., Sweden, or the GDP as in a capitalistic country as, e.g., the USA. Both...</equationsource></inlineequation>

<i> Cosa sappiamo dell’economia sommersa in Italia al di là dei luoghi comuni? Alcune proposizioni empiricamente fondate </i> (di Maurizio Bovi e Laura Castellucci) - ABSTRACT: It is commonly thought that the underground economy is larger in Italy than in most other developed countries and that it...

Permanent and widespread psychological biases affect both the subjective probability of future economic events and their retrospective interpretation. They may give rise to a systematic gap between (over-critical) judgments and (over-optimistic) expectations - the "forecast" error. When things...

No, they are not; at least not in the UK. By examining GDP dynamics we find that, over a time-span of two decades, an easy-to-perform adaptive expectations model systematically outperforms other standard predictors in terms of squared forecasting errors. This should reduce model uncertainty and...

Chapter 1. Prologue -- Chapter 2. Trading: Humans Are Heterogeneous Animals -- Chapter 3. Forecasting: Humans Are Prone-To-Predicting Animals -- Chapter 4. Aggregating: Humans Are Social Animals -- Chapter 5. Innovating: Humans Are Ingenious Animals -- Chapter 6. Epilogue.