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Sulle dinamiche del ciclo misesiano

Enrico Colombatto – Università di Torino e ICER Abstract: Di recente l’analisi austriaca del ciclo economico è stata oggetto di rinnovato interesse: contrariamente alla maggior parte delle analisi tradizionali, …

Some Counterexamples in Positive Dependence

Taizhong Hu, Alfred M¸ller, and Marco Scarsini: December 2002, revised March 2003 and June 2003 Abstract: We provide some counterexamples showing that some concepts of positive dependence are strictly …

Positive value of information in games

Bruno Bassan, Olivier Gossner, Marco Scarsini, and Shmuel Zamir Abstract: We exhibit a general class of interactive decision situations in which all the agents benefit from more information. This …

Property rights systems and the rule of law

Ronald A. Cass Abstract: Property rights – rights to control, use, or transfer things (broadly conceived) – though not readily distinguished from other rights, comprise a category of rights …

On Money As an Institution

A review essay on Luca Fantacci (2005) La moneta: Storia di un’istituzione mancata (Money: History of a Missing Institution) (Venezia: Biblioteca Marsilio). Abstract: In this paper I am going …

AFTER SOCIALISM: WHERE HOPE FOR INDIVIDUAL LIBERTY LIES

SVETOZAR PEJOVICH Professor of Economics Texas A&M University, College Station, and Imadec University, Vienna and Senior Fellow International Centre for Economic Research Torino, Italy ABSTRACT: Institutional restructuring in West …

EUROPEAN UNION DIRECT PAYMENTS TO FARMERS REVISITED

Abstract: A logistic function framework is used to allocate European Union Common Agricultural Policy (CAP) direct payments to farmers among the different member states. Total CAP expenditure is the …

SUR LE REVENU DE SOLIDARITE ACTIVE

La France devrait instaurer en 2009 un “revenu de solidarité active” (RSA) qui remplacerait plusieurs minima sociaux, allocations ou prestations, en se cumulant avec les revenus du travail suivant …

Multivariate option pricing with copulas

Abstract: In this paper we suggest the adoption of copula functions in order to price multivariate contingent claims. Copulas enable us to imbed the marginal distributions extracted from vertical …

Frank Knight and Original Sin

Frank Knight was the key person in founding the Chicago school of economics. In this respect he was a seminal figure in the history of twentieth century economics. Yet, …