Purpose This paper aims to investigate the impact of cooperative firms on the patterns of regional economic resilience in Italy from 2008 to 2019. Design/methodology/approach This study uses regional statistics to compute indices of... more
Purpose This paper aims to investigate the impact of cooperative firms on the patterns of regional economic resilience in Italy from 2008 to 2019. Design/methodology/approach This study uses regional statistics to compute indices of resilience for both real GDP per capita and employment during both recovery and resistance periods. By means of a linear model, the authors investigate the relationships between indices of resilience and the cooperative presence, while controlling for a set of demographic, social and economic variables. Findings This study shows that during (and after) recessions such regional indices exhibit very different patterns, with notably poorer performance observed in Southern regions compared to the rest of the country. Furthermore, this study illustrates that the size of the cooperative employment improves the overall resilience of regional employment, especially during recovery periods. Social implications The findings hint at policies enhancing the strength and scope of the cooperative movement as a driver of territorial resilience. Originality/value To the best of the authors’ knowledge, this is the first study in relating territorial resilience and the presence of a type of companies. This study performs the analysis at the regional level regarding cooperative enterprises. The new findings hint at some policies enhancing the strength and scope of the cooperative movement.
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Research Interests: Economics, Applied Economics, Oligopoly, Incentive, Monopoly, and 4 moreD, L, JEL codes, and Horizontal mergers
Our goal is to participate in the debate on regional well‐being. To this end, we explore the relationship between prosperity and the cooperative movement at the regional level in Italy between 2010 and 2019. We summarize prosperity... more
Our goal is to participate in the debate on regional well‐being. To this end, we explore the relationship between prosperity and the cooperative movement at the regional level in Italy between 2010 and 2019. We summarize prosperity through an index originally proposed by Amartya Sen and we apply it to classify Italian regions. We then perform panel analyses showing that there is a positive and significant association between such an index and the cooperative presence. We detect that, and explain why, the cooperative movement contributes to the regional prosperity more through its employment than in terms of the added value it generates.
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SummaryIn this paper we study a one-shot game of R & D between two firms which differ in their incentives to innovate. We analyse this problem when the R & D technology displays smoothly decreasing returns as well as when... more
SummaryIn this paper we study a one-shot game of R & D between two firms which differ in their incentives to innovate. We analyse this problem when the R & D technology displays smoothly decreasing returns as well as when increasing returns in the form of indivisibilities prevail. In the first case we show that the magnitude of the ratio between the discount rate and the productivity of R & D expenditure may be a critical parameter in ranking firms' probabilities of winning the race. In the second case, we prove that the firm with the higher profit incentive invests in R & D at least as much as the firm with the higher competitive threat. We then apply these results to a homogeneous duopoly under Bertrand or Cournot competition in the product market.
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Si argomenta che le diseguaglianze elevate di reddito e di ricchezza possono rappresentare cause strutturali di crisi bancari
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More than ten years ago the first Human Development Report was published under the aegis of the United Nations Development Office (UNDP) and the supervision of several social scientists among which Amartya Kumar Sen. During these years a... more
More than ten years ago the first Human Development Report was published under the aegis of the United Nations Development Office (UNDP) and the supervision of several social scientists among which Amartya Kumar Sen. During these years a huge debate about how human development has to be measured and human development processes analyzed has occupied specialized journals' columns. Consistently, in the first part of this essay Sen-inspired foundations of the concept are discussed and main theoretical indices of human development are reviewed and compared. Hence, some guidelines for a human development analysis based on elementary statistical tools are suggested. Finally, using UNDP's data, we also provide examples about how human development indices can be used for answering to several economic issues under discussion among policy makers and economists. A brief discussion on public policies for human development design and monitoring ends the article.
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Until recent years, the basic paradigm of Industrial Economics (Industrial Organization in US terminology) — at least in its simplest form — emphasizes the causal links between market structure and business conduct in determining market... more
Until recent years, the basic paradigm of Industrial Economics (Industrial Organization in US terminology) — at least in its simplest form — emphasizes the causal links between market structure and business conduct in determining market performance. For our purposes, it suffices to briefly outline the framework in which the so-called SCP approach was elaborated. Basic conditions (costs, demand) determine market structure (degrees of concentration and product differentiation, barriers to entry, vertical integration and conglomerate diversification) which determine conduct (business goals and strategies), which in turn determine market performance (efficiency, profitability, pace of technical progress).
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Si dimostra, anche con riferimento alle regioni italiane, che la presenza di imprese coperative riduce la diseguaglianza dei redditi e aumenta la coesione social
Come fanno gli Usa a faci pagare i loro vizi e i loro errori? Gli italiani sono ricchi o poveri? Com'\ue8 cambiata la nostra vita con l'euro
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We study a class of games featuring payo ¤ functions being par-abolic cylinders where best reply functions are orthogonal and there-fore the pure-strategy non-cooperative solution is attained as a Nash equilibrium in dominant strategies.... more
We study a class of games featuring payo ¤ functions being par-abolic cylinders where best reply functions are orthogonal and there-fore the pure-strategy non-cooperative solution is attained as a Nash equilibrium in dominant strategies. We prove that the resulting thresh-old of the discount factor above which implicit collusion on the Pareto frontier is stable in the in
nite supergames is independent of the num-ber of players. This holds irrespective of whether punishment is based on in
nite Nash reversion or one-shot stick-and-carrot strategy. We outline two examples stemming from economic theory and one from international relations.
We try to endogenise the choice between Bertrand Equilibrium (BE) and Cournot Equilibrium (CE) in simple duopoly models. The two distinctive features of this paper as compared to the related literature are the following. First, we take... more
We try to endogenise the choice between Bertrand Equilibrium (BE) and Cournot Equilibrium (CE) in simple duopoly models. The two distinctive features of this paper as compared to the related literature are the following. First, we take the concepts of BE an CE as fundamental and restict players' choices to these two equilibria. Second, we adopt a forward induction criterion to shrink the Nash equilibrium set of our games. Our findings suggest the BE seems more vulnerable than the CE whenever forward induction is taken seriously.
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We model a duopoly with a private and a public firm under the hypothesis of vertical product differentiation. Firms choose their quality levels first and then prices. We ask which firm will choose to serve the higher (lower) segment of... more
We model a duopoly with a private and a public firm under the hypothesis of vertical product differentiation. Firms choose their quality levels first and then prices. We ask which firm will choose to serve the higher (lower) segment of the market. When firms act simultaneously in each stage, there are two subgame perfect Nash equilibria entailing opposite rankings between the quality levels. If the State-owned firm has a move advantage, then there is a unique Stackelberg equilibrium in which the public firm serves the upper segment of the market.
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Thesis (Ph. D.)--University of Oxford, 1988.
In its present formulation the Human Development Index (HDI) is a measure of the well-being of nations considering two fixed reference values for each indicator, the so-called fixed goals of development, as normalization parameters. As is... more
In its present formulation the Human Development Index (HDI) is a measure of the well-being of nations considering two fixed reference values for each indicator, the so-called fixed goals of development, as normalization parameters. As is well known, the HDI is insensitive to the relative performance of a country with respect to those of a reference group of nations. Nevertheless, several recent works on individuals' perception of their well-being reveal that subjective well-being is positively correlated with upward mobility opportunities and negatively correlated with the persistency of well-being inequalities within a reference group. Therefore, in this paper, we suggest an easy-tohandle extension of the HDI aimed at integrating the «absolute» perspective implicit in the traditional index with a relative one. Finally, as an application of our index, we assess the well-being of nations in the EU.
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In this paper, we firstly discuss axiomatic foundation of the Human Development Index (HDI), then we propose axioms for a Kolm/Foster/Shorrocks class of human development measures. As we will argue, such a class takes into account some... more
In this paper, we firstly discuss axiomatic foundation of the Human Development Index (HDI), then we propose axioms for a Kolm/Foster/Shorrocks class of human development measures. As we will argue, such a class takes into account some recent advancements in the Capability Approach. In particular, our class of measures is sensitive to the degree of inequality in intra-personal functioning achievements and it gives weight to balanced patterns of human development. Furthermore, Kolm/Foster/Shorrocks measures of human development explicitly consider human development dimensions as weakly substitutable given their incommensurable and irreducible nature. Finally, we briefly check whether some recently proposed human development indices belong to our class.
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In this essay we suggest a new approach to the problem of identification of who is poor, using operatively concepts as capabilities and well-being. Combining economic information with noneconomic elements in the valuation of individual... more
In this essay we suggest a new approach to the problem of identification of who is poor, using operatively concepts as capabilities and well-being. Combining economic information with noneconomic elements in the valuation of individual condition, can lead to an enlarged means testing procedure in which it will be possible to distinguish among different kinds of poverty.
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Valuing alternative policy measures against poverty and social exclusion requires a precise definition of the notion of well-being and its connections with some local principles of justice. These principles summarize precise... more
Valuing alternative policy measures against poverty and social exclusion requires a precise definition of the notion of well-being and its connections with some local principles of justice. These principles summarize precise ethical/political values of the policy maker and are determined by the interaction of local interest groups. Identifying democratically some core values at which some core functionings are related and defining some local principles, used to judge alternatives, allows to construct an ordering of outcomes in terms of well-being. This ordering may be used to drive social choices against poverty and deprivation.
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... Servizi pubblici e autonomie locali: il ruolo di un'Agenzia consiliare. Titolo Rivista: ECONOMIA PUBBLICA. Autori/Curatori: Flavio Delbono, Giulio Ecchia. Anno di pubblicazione: 1998 Fascicolo: 4 Lingua: IT Numero pagine: 0 ...
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In this paper we study a one-shot game of R & D between two firms which differ in their incentives to innovate. We analyse this problem when the R & D technology displays smoothly decreasing returns as well as when increasing... more
In this paper we study a one-shot game of R & D between two firms which differ in their incentives to innovate. We analyse this problem when the R & D technology displays smoothly decreasing returns as well as when increasing returns in the form of indivisibilities prevail. In the first case we show that the magnitude of the ratio between the discount rate and the productivity of R & D expenditure may be a critical parameter in ranking firms' probabilities of winning the race. In the second case, we prove that the firm with the higher profit incentive invests in R & D at least as much as the firm with the higher competitive threat. We then apply these results to a homogeneous duopoly under Bertrand or Cournot competition in the product market.
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L'articolo esamina i pro e i contro dell'introduzione di diverse formulazioni della flat tax nel sistema tributario italian
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Il titolo dato a questo saggio - preparato per un volume intitolato Imprese e mercati - richiede forse qualche spiegazione. Una catena di argomentazioni che colleghi, per induzione all'indietro, il volume che ospita questo saggio e... more
Il titolo dato a questo saggio - preparato per un volume intitolato Imprese e mercati - richiede forse qualche spiegazione. Una catena di argomentazioni che colleghi, per induzione all'indietro, il volume che ospita questo saggio e quello di Schelling (1960) e la seguente.
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In this paper we review various models that have been proposed for the study of mixed oligopoly, more precisely of those markets in which private and public firm compete on equal basis, that is, using only market instruments. The survey... more
In this paper we review various models that have been proposed for the study of mixed oligopoly, more precisely of those markets in which private and public firm compete on equal basis, that is, using only market instruments. The survey is preceded by a brief discussion of other regulatory mechanisms available to the public authority to improve social welfare in a sector.
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We propose a theory of the origin of the State as an institution originating from the voluntary interaction among decentralized and fully informed agents.
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In this paper we study a one-shot game of R&D between two price-setting firms that are asymmetrically placed as they produce at different cost levels. The R&D technology displays increasing returns in the form of invisibilities. We show... more
In this paper we study a one-shot game of R&D between two price-setting firms that are asymmetrically placed as they produce at different cost levels. The R&D technology displays increasing returns in the form of invisibilities. We show that there exists a unique equilibrium in pure strategies, and we prove that the incumbent has never greater probability of winning the patent race than the rival.
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In questo articolo, analizzo alcune delle probabili conseguenze della pandemia in atto e delle collegate restrizioni imposte alla popolazione. Il punto di partenza è l'inversione dell'andamento della curva della mobilità sociale... more
In questo articolo, analizzo alcune delle probabili conseguenze della pandemia in atto e delle collegate restrizioni imposte alla popolazione. Il punto di partenza è l'inversione dell'andamento della curva della mobilità sociale in Italia, curva sulla quale la fase post-Covid non potrà che aggravare l'andamento. Mi soffermo quindi su alcune implicazioni derivanti dall'esame dei sistemi sanitario e scolastico in questi mesi nel paese. Concludo tratteggiando alcune ipotesi per uscire dall'attuale recessione e indirizzare il sistema italiano verso un nuovo sentiero di sviluppo.