To unveil the strategic interaction between the government and the labour union in a unionised economy, a policy-game model is estimated by cointegrated Vector Autoregressive system using Italian quarterly data (1960-2009) on government budget surplus (fiscal efforts), hours not worked...

Economic processes, consisting of interactions between human beings, exploit the social capital of persons endowed with specific cultures, identities and education. By taking into account this complexity, the authors focus on the role of institutions and policymaking in the building of social...

In many industries, firms give consumers the opportunity to add (at a price) optional goods and services to a baseline product. The aim of our paper is to provide a theoretical model of add-on pricing in competitive environments with two new distinctive features. First, we discuss the choice of...

Economic processes, consisting of interactions between human beings, exploit the social capital of persons endowed with specific cultures, identities and education. By taking into account this complexity, we focus on the role of institutions and policymaking in the building of social capital and...

Cognitive biases lead entrepreneurs to overinvest in their own companies, over exposing themselves to idiosyncratic risk. Our novel theoretical model explains entrepreneurial under-diversification by measuring the amount of potential bias in entrepreneurs' portfolio allocations brought about by...

Working conditions exert a major influence on accidents and illnesses at work as well as on job satisfaction and health, yet very little research has examined the determinants of working conditions. By exploiting the Italian Labour Force Survey, this paper provides evidence on the underlying...

The authors solve a linear problem where a potential conflict between two agents (Destination manager and Firm) arises in a tourism destination. Destination manager has to choose how to allocate limited resources (capital and land) between either second homes or hotels. This conflict stems from...

The authors solve a linear problem where a potential conflict between two agents (Destination manager and Firm) arises in a tourism destination. The Destination manager has to choose how to allocate limited resources (capital and land) between either second homes or hotels. This conflict stems...

During their holidays, tourists produce direct and indirect effects on local residents, which can either be positive or negative. In this paper we investigate how residents of Rimini, a popular Italian seaside resort hosting more than ten million national and foreign overnight stays every year,...

In this paper we consider the effects of «multiplicative» uncertainty about the structure of the economy in the standard partisan model. An increase in the uncertainty decreases of the inflation rate pursued by the liberal policymaker, but increases the inflation rate pursued by the...