We use a simple model to analyze the funding stage of new firms and characterize the directional causality between the ir capital structure and the length of prior working experience that entrepreneurs possess. In this light, we test a set of predictions by considering a sample of firms founded...

We use a simple model to analyze the founding stage of new firms. Our goal is to characterize the directional causality between the expected rewards from entrepreneurship and the length of prior labor market experience that entrepreneurs possess. We test predictions about the timing of the...

The principles underlying evolutionary psychology suggest an approach to Law and Economics that tends to reject top-down policy making and encourages a bottom-up stance, whereby rules lead to behavioral routines that are consistent with individuals’ shared psychological patterns. The view...

L'articolo esamina gli effetti redistributivi della dinamica dei prezzi e le conseguenze espansive/recessive che questa può avere sulla congiuntura. Si richiama l'attenzione sul ruolo del contesto istituzionale (concorrenza e regolamentazione) e sui costi di aggiustamento che ne seguono. Si...

Institutions matter: they affect individual action, influence cooperation and are crucial in making the difference between wealth and poverty, growth and stagnation. Yet, the explanatory power of modern institutional economics has not been exceedingly satisfactory. This paper criticizes the...

This article discusses whether altruism justifies ad-hoc legislation with reference to three different contexts. One is defined by the libertarian notion of liberty, a second framework corresponds to the egalitarian vision, and a third one originates from social-contract theory. It is shown that...

The public choice-school has explained why policy- making is generally disappointing and frequently against the very interest of the public at large. The economics profession has put forward two kinds of allegedly free-market remedies. On the one hand, the mainstream view underscores the need...

The Gregorian revolution introduced the rule of law in the West and created necessary (but not sufficient) conditions for growth to take off. This paper analyzes some of the consequences provoked by the evolution in the notion of the rule of law – from being based upon God-given natural law to...

Di recente l’analisi austriaca del ciclo economico è stata oggetto di rinnovato interesse: contrariamente alla maggior parte delle analisi tradizionali, infatti, la visione originaria di Mises non spiega il ciclo richiamandosi a shock esogeni o a illusioni di cui sarebbero vittime gruppi di...

The Misesian lesson in a transition framework leads to a number of questions about the very aims pursued by individuals as they switched from the communist regime to a so-called capitalist environment. According to the answers provided, one may then understand why so many candidates to...