A reaction curve RC, also called reaction function or best-reply function, is the locus of optimal, i.e. profit-maximizing, actions that a firm may undertake for any given action chosen by a rival firm. The RC diagram is the standard tool for the graphical analysis of duopoly. In the diagram the...

The goal of the paper is to investigate the extent of the influence of American antitrust tradition on the foundation and early years of European competition policy. This as part of a wider research program aiming at assessing the role of economic theory in the development of antitrust law and...

Bayesian rationality is the paradigm of rational behavior in neoclassical economics. A rational agent in an economic model is one who maximizes her subjective expected utility and consistently revises her beliefs according to Bayes’s rule. The paper raises the question of how, when and why...

A review essay on Israel Giorgio and Millán Gasca Ana, The World as a Mathematical Game. John von Neumann and Twentieth Century Science, Basel-Boston-Berlin, Birkhäuser, 2009, pp. xii+208 [English translation of Il mondo come gioco matematico. La vita e le idee di John von Neumann, Torino,...