From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice problem involves the presence of a global risk, that is, a chance of losing everything whichever safe or risky option is chosen. In this experimental study, participants have to...

We present a two-country political economic model of income redistribution with internationally mobile labor. Migration can be exogenous and/or endogenous (i.e., determined by labor income differentials). Political influence is determined by the size and homogeneity of the groups, where the...

Difficulties faced by the Economic and Monetary Union have strengthened the position of those who advocate a process of (further) political integration in the European Union (EU). A widespread fear is, though, that such a process would favor powerful interest groups able to lobby the EU...

The recent global crisis has forced many countries to a tight fiscal discipline. As a consequence, the cultural sectors in those countries have experienced severe budget cuts. In this context, disparate suggestions for additional sources of revenue available to public institutions have emerged....

A Handbook of Cultural Economics includes over 60 eminently readable and concise articles by 50 expert contributors. This unique Handbook is both highly informative and readable; it covers a wide area of cultural economics and its closely related subjects. While being accessible to any reader...