This paper examines the ex ante core of a pure exchange economy with asymmetric information in which state-dependent allocations are required to satisfy incentive compatibility. This restriction on players' strategies in the cooperative game can be interpreted as incomplete contracts or partial...

In the mid Sixties, there has been a strong debate about the governance of the urban development of Milan and its metropolitan area. Two alternative models proposed put forward contrasting views. On one side, those who supported the opportunity of a planning based on great transport...

The German Basic Law is open for an interpretation that would allow the constitutional court to test the normative adequacy of most statutes. If the court does, it could be modelled as the supervisor of the legislator, i.e., of the agent of the people. The model predicts collusion between the...

We describe a theory of the collective choice of fiscal policy in dynamic economies that are subject to aggregate shocks. The theory incorporates realistically complex policy spaces, rational forward-looking agents, and a rich political decision process. We argue that it provides a tractable...

El turismo rural ha tenido un desarrollo muy importante en los últimos años en España, el cual ha estado impulsado en cierta medida por las ayudas concedidas por las distintas administraciones. En este trabajo se aplica el método de superación ELECTRE-TRI al reparto de ayudas públicas...

To date, most experimental studies of the tragedy of the anticommons treat individuals’ preferences as common knowledge. Here, we conduct experiments in which values are private information. We vary the bargaining institution, the buyer's signaled willingness to pay, and the fraction of...

Although age is not supposed to be a criterion for the award of the Nobel Prize, it is commonly believed that it does play a role. Indeed, econometric evidence in this paper also suggests such a role. However, the paper finds that, if there is a preference for older Nobel candidates, this is...

Economists have used the term “nonbinary” to describe both choice functional nonbinariness (choice functions that cannot be rationalized as the maximizing outcome of a binary preference relation) and structural nonbinariness (the structure of the model dictates that pairs of alternatives do...

In this paper we compare the emerging field of open strategy to the established field of open innovation in order to facilitate their cross-fertilisation both in research and practice. Taking a communication-centred perspective, we argue that in both fields ‘openness' concerns opening-up the...