Massimo D'Antoni

Bio: Massimo D'Antoni is an academic researcher from University of Siena. The author has contributed to research in topics: Welfare state & Human capital. The author has an hindex of 6, co-authored 22 publications receiving 117 citations.

National Cultures and Social Protection as Alternative Insurance Devices

Abstract: In a mobile market economy there is a continuous process of creative destruction and specific investments in human capital can be particularly risky. For this reason market economies are likely to be characterised by a painful trade-off between the advantages of market flexibility and those of specialization. The claim of our paper is that the State can do much to improve the terms of this trade-off. National States can invest in the development of homogeneous national cultures that can decrease the specificity of many human capital investments. At the same time, the State can insure the individuals who undertake specific investments by providing them with some form of social protection. In this respect, cultural standardization and social protection can be seen as substitutes, and the optimal mix of cultural standardization and social protection changes in different countries. We observe that the process of European integration has reinforced the role of cultural standardization relatively to that of social protection. We argue that, by mimicking the same mix of policies as the U.S., the E.U. would end up doing too much for cultural standardization and too little for social protection.

闡釋《社會成本問題》[The Problem of Social Cost]

Abstract: THIS paper is concerned with those actions of business firms which have harmful effects on others. The standard example is that of a factory the smoke from which has harmful effects on those occupying neighbouring properties. The economic analysis of such a situation has usually proceeded in terms of a divergence between the private and social product of the far' ory, in which economists have largely followed the treatment of Pigou in The Economics of Welfare. The conclusions to which this kind of analyris seems to have led most economists is that it would be desirable to make the owner of the factory liable for the damage caused to those injured by the smoke, or alternatively, to place a tax on the factory owner varying with the amount of smoke produced and equivalent in money terms to the damage it would cause, or finally, to exclude the factory from residential districts (and presumably from other

An Agenda for a Reformed Cohesion Policy A place-based approach to meeting European Union challenges and expectations

Abstract: EU regional policy is an investment policy. It supports job creation, competitiveness, economic growth, improved quality of life and sustainable development. These investments support the delivery of the Europe 2020 strategy. The present paper analysis two strategically different options of EU regional policy: place-neutral versus place-based policies for economic development. Our results suggest that in many EU regions the place-neutral policies may no be the best policy response to facing new challenges posed by deeper economic integration and globalisation.

Foundations of Economic Analysis of Law

Abstract: Foundations of Economic Analysis of Law, by Steven Shavell, 2004, The Belknap Press of Harvard University Press, 737 pages Steven Shavell has contributed to the foundations of economic analysis of law in different manners According to Posner (2006), he is a member of the third generation of economic analysts of law-Coase, Becker, and Calabresi being the first group, with Posner himself, Landes, and Ehrlich forming the second Shavell has published several books and more than 100 articles on economics and on the economics of law He has contributed to the principal-agent theory (Shavell, 1979b) and, more particularly, to the moral hazard literature (Shavell, 1979a) This book proposes an overview of the fields in the economics of law to which the author has contributed It also covers in detail other fields and many contributions to the literature The emphasis is on theory, but some empirical facts are mentioned The book has twenty-nine chapters in seven parts or sections, a comprehensive list of references (786 references in the References section of the book), and two indexes (authors and subjects) It covers many subjects related to the economic analysis of basic law Particular attention is devoted to the positive analysis of law, although the normative aspect is also well covered The book is addressed to two broad audiences: economists and individuals interested in law with no formal background in economics There is no formal economic analysis in the text (but formal models are sometimes sketched in footnotes) and no detailed discussion of legal doctrine The subjects covered are important for any legal system: laws related to property, accidents, contracts, crimes, and their litigation process Specialized subjects such as labor, bankruptcy, or environmental law are not covered However, for the readers of the Journal of Risk and Insurance, accident law is discussed in detail (one section including five chapters that will be analyzed below) Chapter 1, the introduction to the book, presents the author's basic philosophy with regard to the economics of law He first distinguishes the positive analysis of the economics of law from its normative analysis Using his example for automobile accidents, the positive analysis is concerned with how a liability system affects accidents and litigation expenses, whereas the normative analysis looks at the social desirability of a liability system Two standard and important assumptions are made for the normative analysis First, the normative analysis does not take any of the distributive aspects into account; this is left to the income tax system and other transfer mechanisms Second, the notions of fairness and morality are not integrated in the analysis, although a significant effort is made to do so in part seven of the book The first four parts of the book treat areas related to private law: property law, liability for accidents, contract law, and civil litigation They are called private because they are enforced by the activities or suits of private parties The first of the four parts is devoted to property law Chapter 2 covers the rationale of ownership and the emergence of property rights The chapter defines concepts that are not often discussed in the standard economic literature For example, the author treats property rights, their justification, and their emergence Property rights are themselves divided into two types of rights: possessory rights and transfer rights The justification of property rights is mainly related to incentives: incentives to work, incentives to maintain and improve things, and incentives to transfer things Their emergence occurs when the advantages are greater than the costs of instituting and maintaining them Chapter 3 is devoted to the division of property rights while chapter 4 discusses, in detail, the acquisition and transfer of property rights, including transfer after death Chapter 5 concerns the issues of conflict and cooperation associated with the use of property rights …

Embracing the paradox of inter-organisational value co-creation - value capture: A Literature Review towards Paradox Resolution

Abstract: This study reviews literature on paradoxical tensions between value co-creation and capture in interorganizational relationships (IORs). The purpose of this review is to make a re-evaluation of the ...