We study an inflow of buyers who are less elastic because they lack both time and information. Theory predicts that sellers increase prices to expand surplus appropriation, even if marginal costs are non-increasing, but this effect weakens as market competition intensifies. Data from Italian...

This paper studies the role of the expansion of higher education supply in increasing the equality of post-secondary education opportunities. It examines Italy�s experience during the 1990s, when policy changes prompted universities to offer a wider range of degree courses and to open new...

We propose a portfolio selection model based on a class of monotone preferences that coincide with mean-variance preferences on their domain of monotonicity, but differ where mean-variance preferences fail to be monotone and are therefore not economically meaningful. The functional associated to...