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...

This paper tests the hypothesis that the distance of a firm from the main financial centre affects underpricing positively. The higher is the distance the higher are the information imperfections among players involved in the Initial Public Offering and the higher is the uncertainty about the...

We study a Bertrand game where two sellers supplying products of different and unverifiable qualities can outwit potential clients through their (costly) deceptive advertising. We characterize a class of pooling equilibria where sellers post the same price regardless of their quality and low...

We study the effect of encouraging private actions for breaches of competition law. We develop a model in which a plaintiff, who may have private information about whether a breach of law has been committed, decides whether to open a case against a defendant. If opened, the case may be settled...

Wheras non-price restrictions such as exclusive territories are often tolerated while Resale Price Maintenance (RPM) is rather unanimously forbidden, the economic analysis shows so far that both types of restraints have positive and negative effects on welfare, in such a way that the balance is...

Patent thickets, layers of licenses a firm needs to be able to offer products that embody technologies owned by multiple firms, and licensing policies have drawn increasing scrutiny from policy makers. Patent thickets involve complementary products, which gives rise to double marginalization --...