Psychological identification with a group is often posited as a fundamental motivation in politics. Identity then serves a motivating force, in that it demands solidarity with a group, determines expectations or interpretations of the actions of others, and dictates adherence to principles. This...

This paper provides new evidence on the short-term pricing of Australian IPOs using daily data on 188 IPOs from January 1991 to december 1994. In contrast to previous Australian studies it clearly demarcates the primary from the secondary IPO market by the first transaction which takes place on...

Consider a group of isolated or autarkic regions. If the regions from a federation, on expects to see greater efficiency in production at the cost of reduced local control over the distribution of consumption. Under what circumstances is this tradoff even potentially beneficial to all regions?