The paper analyzes how organized crime affects the economy through its impact on the effective demand, following the Neo-Kaleckian approach. From this perspective, the presence of organized crime, on the one hand, tends to reduce the effective demand draining resources through extortion,...

This paper tests the relationship between time preferences and crime rates as posited by Davis (1988), whose theoretical analysis suggests that individuals’ attitude towards the future significantly affects their propensity to commit crime. Our empirical analysis is based on a panel of Italian...

Conformity behavior, i.e. the agreement between an individual's choices and the prevailing behavior of a reference group, is a commonly observed phenomenon. Though some types of social interactions may give raise to specific incentives to adopt either a majoritarian or a contrarian behavior, we...

This paper test the hypothesis that distance of firms from the main financial centre affects underpricing positively. Higher is the distance higher is the uncertainty about the true value of the listing firm and lower the issue price. Econometric results show that, in the Italian case, there is...