Università Cattolica del Sacro Cuore

Microeconomics

Several members of the Department of Economics and Finance do research on a variety of applied topics in Microeconomics. The methodological approach is both empirical and theoretical.

Theoretical research touches upon different topics. Industrial organization is a traditional area of expertise at DEF with special focus on banking, competition, regulation and the theory of contracts both in a broad sense and with a specific interest in more informed principal. A further stream of research where the Department is particularly active is that of Economics of Information, focusing on the efficiency of information acquisition and the social value of information, cheap-talk, persuasion games and credence goods. Finally, a relevant area of theoretical research pursued in the Department concerns the economics of networks, dealing especially with games played in networks and applications to cultural economics.

Empirical research focuses mainly on R&D, innovation, and productivity. In particular, researchers involved in this area investigate the implications of firms’ innovative activities for trade and financial markets, in strong connection with the research in the fields of international trade and finance.

Among the research contributions of Department’s members in this area are:

  • Della Lena, S., and F. Panebianco. 2021. "Cultural transmission with incomplete information", Journal of Economic Theory, 198: 1053-73.
  • Battaggion M.R., and P. Tedeschi. 2021. "How do demand and costs affect the nature of innovation?", Journal of Economics, 133: 199-238
  • Galliera, A., and E.E. Rutström. 2021. "Crowded out: Heterogeneity in risk attitudes among poor households in the US.", Journal of Risk and Uncertainty, 63: 103–132. 
  • Femminis, G., and G. Piccirilli. 2021. “Efficient information acquisition with heterogeneous agents”, Economics Letters, 207, article 110025.
  • Currarini S., G. Ursino, and A.K.S. Chand. 2020. “Strategic Transmission of Correlated Information”, The Economic Journal.
  • D'Adda, G., A. Galliera, and M. Tavoni. 2020. "Urgency and engagement: Empirical evidence from a large-scale intervention on energy use awareness", Journal of Economic Psychology, 102275.
  • Angelovski, A., A. Galliera, and W. Güth. 2019. "Partial Versus General Compulsory Solidarity: an Experimental Analysis", Homo Oeconomicus, 36: 249–279.
  • Colombo, S. 2019. “Does licensing promote innovation?”, Economics of Innovation and New Technologies, 29 (2): 206-221.
  • Colombo, S., and Z. Hou. 2019. “On spatial competition with quadratic transport costs and one online firm”, Annals of Regional Science, 63: 241-247.
  • Tedeschi P., and F. Barigozzi. 2019. “On the credibility of ethical banking”, Journal of Economic Behavior & Organization, 166 (C ): 381-402.
  • Colombo, S. 2018. “Behavior-and characteristic-based price discrimination”, Journal of Economics & Management Strategy, 27: 237-250.
  • Colombo, S., and M. Scrimitore. 2018. “Managerial delegation under capacity commitment: a tale of two sources”, Journal of Economic Behavior & Organization, 150: 149-161.
  • Galliera, A. 2018. “Self-selecting random or cumulative pay? A bargaining experiment”, Journal of Behavioral and Experimental Economics, 72: 106-120.
  • Di Cagno, D., A. Galliera, W. Güth, and N. Pace. 2018. “Behavioral Patterns and Reduction of Sub-Optimality: An Experimental Choice Analysis”, Theory and Decision, 85: 151-177.
  • Di Cagno, D., A. Galliera, W. Güth, and L. Panaccione. 2018. “Intention-Based Sharing”, Games, 9 (2): 1-24.
  • Di Cagno, D., A. Galliera, W. Güth, and L. Panaccione. 2018. “Gender Differences in Yielding to Social Influence An Impunity experiments”, Games, 9 (4), 86.
  • Panebianco, F., and T. Hellmann. 2018. “The Transmission of Continuous Cultural Traits in Endogenous Social Networks”, Economics Letters, 167: 51-55.
  • Panebianco, F., G. Olcina, and V. Calabuig. 2018. “Team Production and Culture”, Journal of Economic Behavior and Organization, 149:32-45.
  • Tedeschi P.G. Ursino, and L. Serio. 2018. “Making Sense of (Ultra) Low Cost Flights: Vertical Differentiation in Two-Sided Markets”, Management Science, 64 (1): 401-420.
  • Tedeschi P.G. Ursino, and S. Piccolo. 2018. “Deceptive Advertising with Rational Buyers”, Management Science, 64 (3): 1291-1310.
  • Attanasi, G., N. Georgantzìs, V. Rotondi, and D. Vigani. 2018. “Lottery- and survey-based risk attitudes linked through a multichoice elicitation task", Theory and Decision, 84 (3): 341-372.
  • Di Cagno, D., A. Galliera, W. Güth, N. Pace, and L. Panaccione. 2017. "Experience and gender effects in acquisition experiment with value messages", Small Business Economics, 48 (1): 71-97.
  • Di Cagno, D., A. Galliera, W. Güth, W., F. Marzo, and N. Pace, N. 2017. "(Sub) Optimality and (Non) Optimal Satisficing in Risky Decision Experiments", Theory and Decision, 83 (2): 195-243.
  • Colombo, L., H. Dawid, M. Piva, and M. Vivarelli. 2017. “Are R&D Investments by Incumbents Decreasing in the Availability of Complementary Assets for Start-ups?”, Small Business Economics, 49 (3): 513-531.
  • Colombo, S., and L. Grilli. 2017. “Should I stay or should I go? Founder’s decision to exit from an entrepreneurial venture during an industrial crisis”, Industry and Innovation, 24: 97-121
  • Panebianco, F., and T. Verdier. 2017. “Paternalism, Cultural Transmission and Diffusion on Complex Networks”, Games and Economic Behavior, 105: 155-176.
  • Panebianco, F., S. Currarini, and E. Fumagalli. 2017. “Games on Networks: Direct Complements and Indirect Substitutes”, Games and Economic Behavior, 105: 40-58.
  • Panebianco, F., L. Mittone, and A. Santoro. 2017. “The Bomb-Crater Effect of Tax Audits: Beyond Misperception of Chance”, Journal of Economic Psychology, 61: 225-243.
  • Abrardi, L.L. Colombo, and P. A. Mori. 2016. “Customer Ownership and Quality Provision in Public Services under Asymmetric Information”, Economic Inquiry, 54 (3): 1499-1518.
  • Colombo, L., and H. Dawid. 2016. “Complementary Assets, Start-Ups and Incentives to Innovate”, International Journal of Industrial Organization, 44: 177-190.
  • Colombo, S. 2016. “Does behaviour-based price discrimination foster firms differentiation?”, Bulletin of Economic Research, 68: 111-122.
  • Colombo, S. 2016. “Imperfect behaviour-based price discrimination”, Journal of Economics & Management Strategy, 25: 563-583
  • Colombo, S. 2016. “Location choices with non-linear demand function”, Papers in Regional Science, 95: S215-S226.
  • Colombo, S. 2016. “Mixed oligopolies and collusion”, Journal of Economics, 118 (2): 167-184.
  • Colombo, S., and L. Filippini. 2016. “Revenue royalties”, Journal of Economics, 118 (1): 47-76.
  • Di Cagno, D., A. Galliera, W. Güth, N. Pace, and L. Panaccione. 2016. "Make-up and suspicion in bargaining with cheap talk: An experiment controlling for gender and gender constellation", Theory and Decision, 80 (3): 463-471.
  • Di Cagno, D., A. Galliera, W. Güth, and L. Panaccione. 2016. "A hybrid public good experiment eliciting multi-dimensional choice data", Journal of Economic Psychology, 56: 20-38.
  • C. Altomonte, S. Gamba, M.L. Mancusi, and A. Vezzulli. 2016. “R&D investments, Financing Constraints, Exporting and Productivity”, Economics of Innovation and New Technology, 25 (3): 283-303.
  • Panebianco, F., A. Antoci, A. Delfino, F. Paglieri, and F. Sabatini. 2016. “Civility vs. Incivility in Online Social Interactions: an Evolutionary Approach”, PLoS ONE, 11 (11).
  • Panebianco, F. 2016. “The Role of Persuasion in Cultural Evolution Dynamics”, International Review of Economics, 63 (3): 233-258.
  • Colombo, S. 2015. “Should a firm engage in behaviour-based price discrimination when facing a price discriminating firm? A game-theory analysis”, Information Economics and Policy, 30: 6-18.
  • Di Giacomo, M., M. Piacenza, F. Scervini, and G. Turati. 2015. “Should we resurrect ‘TIPP flottante’ if oil price booms again? Specific taxes as fuel consumer price stabilizers”, Energy Economics, 51: 544-552.
  • Piccolo S., E. Tarantino and G. Ursino. 2015. "The Value of Transparency in Multidivisional Firms", International Journal of Industrial Organization, 41 (C): 9-18.
  • Piccolo S., P. Tedeschi, and G. Ursino. 2015. “How Limiting deceptive Practices Harms Consumers”, The Rand Journal of Economics, 46 (3): 611-624.
  • Ursino, G. 2015. “Supply Chain Control: A Theory of Vertical Integration”, The B.E. Journal of Economic Analysis and Policy, 15 (4): 1831-1866.
  • Colombo, L., and H. David. 2014. “Strategic Location Choice under Dynamic Oligopolistic Competition and Spillovers”, Journal of Economic Dynamics and Control, 48: 288-307.
  • Colombo, L.G. Femminis and A. Pavan. 2014. “Information Acquisition and Welfare, The Review of Economic Studies, 81: 1438–1483.
  • Colombo, S., and L. Filippini. 2014. “Licensing and innovation: comment”, Economics Letters, 1: 353-356.
  • Colombo, S. 2014. “Fee versus royalty licensing in spatial Cournot competition”, Annals of Regional Science, 52: 859-879.
  • Mancusi, M.L., A. Vezzulli. 2014. “R&D and Credit Rationing in SMEs”, Economic Inquiry, 52 (3): 1153-1172.
  • Mancusi, M.L., S. Breschi, C. Lenzi, and F. Malerba. 2014. “Knowledge-Intensive Entrepreneurship: Sectoral Patterns in a Sample of European High-Tech Firms”, Technology Analysis and Strategic Management, 26 (7): 751-764.
  • Panebianco, F. 2014. “Socialization Networks and the Transmission of Interethnic Attitudes”, Journal of Economic Theory, 150: 583-610.
  • Colombo, S., L. Grilli and C. Rossi-Lamastra. 2013. "Network externalities, incumbent's advantage and the degree of openness of open source software start-ups", Computational Economics.
  • Colombo, S. 2013, "Spatial Cournot competition with non-extreme directional constraints", Annals of Regional Science, 51: 761-774.
  • Colombo, S. 2013, "Product differentiation and collusion sustainability when collusion is costly", Marketing Science, 32: 669-674.
  • Colombo, S. 2013, "Cartels in the unidirectional Hotelling model", Economic Modelling, 31: 690-696.
  • Mancusi, M.L., F. Malerba and F. Montobbio. 2013. "Innovation and Knowledge Spillovers: Evidence from European Data", Review of World Economics, 149, 697-722.
  • Ursino, G., and G. Barron. 2013. "Underweighting Rare Events in Experience-Based Decisions: Beyond Sample Error", Journal of Economic Psychology, 39: 278-286.