We present novel evidence on the nexus between alcohol intake and trust at a large cultural gathering event. Throughout six editions, we interviewed nearly 2,000 attendees and collected an objective measure of alcohol intake (Blood Alcohol Concentration, BAC) using electronic breathalyzers and...

This dissertation provides theoretical underpinnings for exogenous matching frameworks. The ultimate goal is to improve our understanding of economies whose functioning is impaired by frictions of spatial, informational or institutional nature. Indeed, there is a well established research...

In an open economy with common property resources at the community level, marriage and migratory decisions crucially depend on inheritance rules on the commons. Motivated by the traditional management of the commons in the Italian Alps, we present a model that fits the evolution of property...

In an open economy with common property resources at the community level, marriage and migratory decisions crucially depend on inheritance rules on the commons. Motivated by the traditional management of the commons in the Italian Alps, we present a model that fits the evolution of property...

This thesis includes three essays analyzing the role of fiat money in decentralized trade. Essay 1 develops a model that describes a two-country-two-currency economy, in which prices are endogenized by using the "split-the-surplus" rule. The government generates seignorage revenue by issuing...

This thesis consists of three essays. The first two essays employ monetary search theoretic models to examine issues related to money and specialization and bilateral exchange rate determination, respectively. The third essay, which is empirical in nature, investigates fundamental determinants...

Models of monetary economies with explicit micro-foundations play a central role in macroeconomics. A common assumption is the quasi-linearity of individuals' preferences. Moreover, anonymity rules out credit and implies that individuals are constrained in their ability to save and borrow. These...

In Chapter 1 we construct a monetary economy with heterogeneity in discounting and consumption risk. Agents can insure against this risk with money and nominal government bonds, but all trades must be monetary. We demonstrate that a deflationary policy à la Friedman cannot sustain the...

This thesis includes three essays on monetary theory analyzing monetized trading arrangements in three separate environments: (1) transient economy, (2) economy with two competing imperfect record-keeping technologies, and (3) economy where agents are subject to productivity shocks. In Essay...

In Chapter 1 we study price determination in a market with n identical buyers and a seller who initially commits to some capacity. Sales are sequential and each price is determined by strategic bargaining. A unique subgame perfect equilibrium exists. It is characterized by absence of costly...