In this paper we consider the institutional arrangements needed in a decentralised framework to cope with the potential adverse welfare effects caused by localized negative shocks (e.g., natural disasters, terrorist attacks, or even clinical errors) that can be limited by precautionary...

In this paper we consider the institutional arrangements needed in a decentralised framework to cope with the potential adverse welfare effects caused by localized negative shocks, that impact on the provision of public services and that can be limited by precautionary investments. We model the...

We study the institutional solutions needed in a decentralized framework to cope with the potential adverse welfare effects caused by localized negative shocks, that impact on the provision of public services and that can be limited by precautionary investments. We consider first a public relief...

In this paper we consider the institutional arrangements needed in a decentralised framework to cope with the potential adverse welfare effects caused by negative shocks (like natural disasters, clinical errors, or terrorist attacks), that can be quot;limitedquot; (in their probability of...

This statistical study refines and updates Sharpe's empirical paper (1975, Financial Analysts Journal) on switching between US common stocks and cash equivalents. According to the original conclusion, profitable market timing relies on a representative portfolio manager who can correctly...

A major policy concern regarding patenting activity is related to the actual enforceability of the patents granted by Patent Offices. The risk of facing elevated legal costs to defend patent rights can affect ex-ante incentives to invest in R&D. This paper analyses whether the availability of...

Penalty kicks are analysed in the literature as 'real life experiments' for assessing the use of rational mixed strategies by professional players. However, each penalty kick cannot be considered a repetition of the same event because of the varying background conditions, in particular the...

<i> Distribuzione assicurativa e concorrenza nel mercato italiano </i> (di Luigi Buzzacchi) - ABSTRACT: Distribution and competition in the motor insurance industry: the Italian case, by Luigi Buzzacchi This paper details the use of different insurance distribution systems, analyses key issues in...