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Delegation of decision-making has important implications for firms' performance. We build a simple model predicting that decentralized firms are more involved in R&D, and use data from the Italian manufacturing industry to document a positive correlation between delegation and R&D spending. This result is robust to controlling for the determinants of R&D(More)
We study a specific model of competing manufacturer-retailer pairs where adverse selection and moral hazard are coupled with non-market externalities at the downstream level. In this simple framework we show that a " laissez-faire " approach towards vertical price control might harm consumers as long as privately informed retailers impose non-market(More)
INTRODUCTION Risk stratification in congestive heart failure (CHF) patients is based on a variety of clinical and laboratory variables. We analysed renal function, BNP, water composition, echocardiographic and functional determinations in predicting mid-term outcome in CHF patients discharged after decompensation. MATERIAL AND METHODS All subjects with(More)
BACKGROUND Acute decompensation heart failure (ADHF) remains a cause of hospitalization in patients with end-stage congestive HF. The administration of levosimendan in comparison with a standard therapy in CHF patients admitted for ADHF was analysed. MATERIAL/METHODS Consecutive patients admitted for ADHF (NYHA class III-IV) were treated with levosimendan(More)
When do competing principals independently choose to share the information obtained from their privately informed agents? Information sharing a¤ects contracting relationships within opponent organizations and induces players'strategies to be correlated via the distortions channel. We show that principals' incentives to share information depend on the nature(More)
This paper contributes to the debate on optimal bankruptcy reform by providing a set of results that challenge the wisdom that " soft " bankruptcy codes have necessarily positive effects. The model hinges on the key idea that " soft " bankruptcy allows a poor performing entrepreneur to renegotiate the terms of the initial contract with a lender. In the(More)
Ivabradine is a selective I(f) current inhibitor in the sinus node that decreases heart rate without negative inotropic effects. We report the case of an 88-year-old diabetic patient with arterial hypertension and peripheral arterial disease who experienced an antero-lateral non-ST-elevation myocardial infarction following post-surgical anemia. After(More)
Infective endocarditis (IE) is an inflammatory disease which interests heart endothelium and mostly heart valves. IE is not a uniform disease, but presents in a variety of different forms that makes the diagnosis difficult. Echocardiography is a crucial diagnostic tool for the diagnosis, especially in those patients who have no typical symptoms as in the(More)