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Copyright belongs to the author. Small sections of the text, not exceeding three paragraphs, can be used provided proper acknowledgement is given. The Rimini Centre for Economic Analysis (RCEA) was established in March 2007. RCEA is a private, nonprofit organization dedicated to independent research in Applied and Theoretical Economics and related fields. RCEA organizes seminars and workshops, sponsors a general interest journal The Review of Economic Analysis, and organizes a biennial conference: The Rimini Conference in Economics and Finance (RCEF). The RCEA has a Canadian branch: The Rimini Centre for Economic Analysis in Canada (RCEA-Canada). Scientific work contributed by the RCEA Scholars is published in the RCEA Working Papers and Professional Report series. The views expressed in this paper are those of the authors. No responsibility for them should be attributed to The Rimini Centre for Economic Analysis.

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