The paper shows that the co-movements of optimal price and output in a monopolistic market can be a case of spurious correlation, price and quantity variations being affect by the degree of uncertainty in the consumers' incomes. The pattern of price and quantity changes depends on the shape of...

This paper contrasts the descriptive and normative properties of the New Keynesian general equilibrium models with those of other Keynesian paradigms, such as the neoclassical sintesi and the post Keynesian ones. We argue that the co-ordination failures, which are pivotal within the New...

The paper proves the existence of a subgame perfect Nash equilibrium in a vertically differentiated duopoly with uncovered market, for a large set of symmetric and asymmetric distributions of consumers, including, among others, all logconcave distributions. The proof relies on the 'income share...

By developing a linear model in a two-country framework of international price competition, we show how the degree of product differentiation and the cross-country distribution of private firms affect the strategic privatization choices made by governments concerned with their own country's...

Fin dai primi decenni di questo secolo, alcuni studiosi di impostazione marxista hanno affrontato il problema della crescita di un sistema capitalistico con riferimento ad una nozione, quella di "mercati esterni", che diverrà, sebbene con notevoli modificazioni d'accento, elemento fondamentale...

Tema di questo lavoro è l'analisi di alcune possibili cause di viscosità nell'aggiustamento dei prezzi in modelli con imperfetta informazione da parte dei consumatori.

In a spatial competition model, changes in firms' competitive behaviour may occur when the hypothesis that individual gross surplus is positive in equilibrium is relaxed. We prove that there exists a region of the relevant parameter where firms' behaviour mimics collusion, while in another range...

This paper extends the disequilibrium approach to aggregate demand and aggregate supply to situation in which the level of the fixed nominal wage is compatible with shortage of labour. We show that discontinuities arise in the AD-AS curves and that only a 'one sided,, not bilaterally stable...

We enquiry about the effects of first and second order stochastic dominance shifts of the distribution of the consumers’ willingness to pay, within the standard model of a market with network externalities and hump-shaped demand curve. This issue is analyzed in the polar cases of perfect...

We describe economic agents as formal logical systems of the first order, and then able to show that for any ordinary geometric description of an agent as a preordering over a given choice set within the set of reals, there exists a corresponding logical description in the space of the first...