Internal dealing regulation and insiders’ trades in the Italian financial market

We analyze insiders’ trades in the Italian financial market. Insiders buy undervalued stocks, but they also act as positive feedback traders. They exploit short term market movements with abnormal returns around trades: they purchase (sell) stocks after a price decline (increase) and trades are followed by a partial reversal. They time the market mainly through purchases immediately communicated to the market and sales (and in part purchases) communicated quarterly to the market. It seems that insiders do not manipulate the market but strategically choose the size of trades, while they are interested to disclose immediately purchases of the assets of the company they prefer not to do it in case of sales. JEL Classification: G14, G15     

Foreign affairs in the Italian party congresses; the PCI

Incentives are capable of creating favourable environments in which peace processes can make progress. This is especially true for mega incentives, which can assist in overcoming political and socio-psychological barriers to peace. In Israeli–Arab peacemaking, incentives have not yet proven efficient. To date, they have been used in a limited and inefficient manner. In 2010, the US offered Israel incentives in return for an extension of Israel's settlement freeze. This move failed due to unfavourable political conditions and scepticism regarding its ability to bring about a major breakthrough. Nevertheless, it signaled that incentives are now an integral tool in US diplomacy and could serve as a step towards crafting a multi-national mega incentive package for Middle East peace.     

The IRI in Italy: Strategic role and political constraints

The ‘IRI‐formula’ (which describes the situation whereby a public body owns private firms) was originally based on a delicate balance of powers between political guidance and managerial autonomy. Towards the end of the 1950s, this balance was upset and replaced by a strong politics‐business connection: public managers and political groups exchanged financial support for political protection. The present IRI management is trying to regain its autonomy, but is constrained by a system framed by the former politics‐business connection. It is in a very delicate political situation, created by the attempts of the PSI to replace the DC in the central role of Italian politics.     

The semiotics of religious space in Second Life®

Scholarly research on the religious dimension of Second Life® can be conducted with reference to several elements: ties between the religious dimension of Second Life and that of the “First Life” (an approach privileged by the sociology and the psychology of religion); the transcendent value inherent in the creation of an alternative reality (an approach favored by the philosophy of religion); the enunciation of a “virtual” religious dimension through the digital artifacts of Second Life (an approach promoted by aesthetics, phenomenology, and semiotics); and so forth. Adopting the point of view of cultural semiotics, the paper summarizes the results of a “virtual” ethno-semiotic participant observation conducted over six months in portions of the digital “metaverse” of Second Life where a religious dimension is predominant. The consequent analysis of digital places of worship singles out five main characteristics of their aesthetics, phenomenology, and semiotics: isolation, prototypicality, didacticism, anarchy, and parasitism.     

Long swings in the growth of government expenditure: an international historical perspective

Public Choice - Adopting an international historical perspective, this study aims to identify the main empirical regularities in the long-run growth pattern of government expenditure. The...     

Theories of Legal Argumentation and Concepts of Law. An Approximation

This article provides an assessment of the merits of recent theories of legal reasoning. After a quick historical aperçu a number of models of legal argumentation are presented and discussed, with an eye to their mutual connection. An initial conclusion is that universalizability and discursivity are the common features of those models. The focal question dealt with, however, is that of the impact of the argumentative paradigms of adjudication on the very concept of law. Here the contention is that an argumentative style of reasoning contributes to rendering the structure of the law itself and its operations argumentative as well. By so doing the latter are—so to say—civilized and made less truculent. They will thus be able to develop more in conformity with a democratic form of life.     

DNA internal standard for the quantitative determination of hallucinogenic plants in plant mixtures

Here, we show a new, simple, and rapid SYBR Green-based Real-Time PCR assay for the quantification of hallucinogenic plants in plant mixtures. As a test plant, Salvia divinorum Epling & Játiva-M., a perennial herb belonging to the Lamiaceae family able to induce hallucinations, changes in perception, or other psychologically induced changes with similar potency as LSD, was used. The method was tested on seven mixtures 100/0%, 80/20%, 60/40%, 40/60%, 20/80%, 10/90%, 0/100% (w/w) S. divinorum versus a non-hallucinogenic plant, Salvia officinalis. Total DNA was extracted from samples and quantified by Real-Time PCR. Arabidopsis thaliana genomic DNA was added, as internal standard, at the beginning of each extraction. A new formula for the interpretation of Real-Time PCR data, based on the relative quantification of DNA extracted from mixture versus a reference DNA extracted from a known amount of pure S. divinorum, was developed. The results of this work show an almost perfect correspondence between Real-Time PCR-calculated weight and the weight estimated by an analytical weighted method, proving the effectiveness of this method for the quantitative analysis of a given species in a plant mixture.