This article proposes a balancing procedure for the deflation of input-output (I-O) tables from the viewpoint of users. This is a 'subjective' variant of the Weighted Least Squares (WLS) method, already known in the literature. It is argued that it is more flexible than other methods, and it is...

The entire system of legal remedies rests on the decision of prospective plaintiffs to commence actions before a court. This study focuses on how both plaintiffs’ beliefs and legal precedent affect access to justice. In turn, actual accesses to the judiciary result in judicial decisions, and...

An input is inferior if and only if an increase in its price raises all marginal productivities. A sufficient condition for input inferiority under quasi-concavity of the production function is then that there are increasing marginal returns with respect to the other input and a non-positive...

Using a long-run series of I-O tables, some simple facts are explored with respect to the Italian trade balance in the period 1960-2000. The analysis confirms that the Italian economy underwent a de-specialisation process before the euro era. This phenomenon weakened our export capacity, and in...

In this article we discuss the dynamics of organizational change when agents have heterogeneous initial conjectures and do learn. In this framework, conjectural equilibrium is defined as a steady state of the learning process, and all the adjustment occurs in disequilibrium. We discuss the...

In this paper, we provide a generalization of the standard models of the diffusion of a new product. Consumers are heterogeneous and risk averse, and the firm is uncertain about the demand curve: both learn from past observations. The attitude towards risk has important effects with regard to...

In this paper we provide a generalization of the standard models of the diffusion of a new product. Consumers are heterogeneous and risk averse, and the firm is uncertain about the demand curve: both learn from past observations. The attitude towards risk has important effects with regard to the...