Institutions and Markets Papers

When a firm undertakes risky activities, the conflict between social and private incentives to implement safety care requires public intervention which can take the form [...]

As representatives of nation-states in global financial markets, sovereign wealth funds (SWFs) share a common form and many functions. Arguably their form and functions [...]

We study the effect of the fragmentation of intellectual property rights on optimal patent design. The major finding is that when several complementary innovative compone [...]

The paper studies the incentive for providers to invest in new health care technologies under alternative payment systems, when the patients' benefits are uncertain. If t [...]

We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, i [...]

The increased interconnection among local and global players induced by globalization, as well as the need for a complete application of the “subsidiarity principle”, [...]

In the last decade, as many other European countries, the Italian Government adopted several reforms in order to increase the use of Renewable Energy Sources (RES). The l [...]

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through [...]

This paper analyses the relation between competition and concentration in the banking sector. The empirical answer is given by testing a monopolistic competition model of [...]

In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are [...]