First Author:   Paolo M. Panteghini University of Brescia and CESifo panteghi@eco.unibs.it   Department of Economics, Via San Faustino 74/b Brescia, 25100, Italy   ++390302988816(Phone) ++390302988816(Fax) http://www.eco.unibs.it/~segdse/ppan/index.htm