the opposite character of public goods. The positive consumption of this type of good is possible only if corresponding negative quantities are consumed by other individuals. Pagano has shown that while public goods are typically undersupplied, positional goods are typically oversupplied. For what concerns instead intelligence scarcity he has suggested that bounded rationality has many dimensions each of which can be represented as a maximisation problem with some additional constraints, only at the cost of contradicting the scarcity assumption at a higher level. In the literature on the theory of the firm the main contribution of Pagano has been the development of the concept of organizational equilibrium. Combining the literatures of the Neo-institutional and Radical schools he has defined organizational equilibria as situations where a set of rights (technological characteristics of the resources) brings about technological characteristics of the resources (rights) which are consistent with this set of rights (technology). This concept is directly related to the Marxian concept of mode of production and has been lately adopted as a tool to study the evolution of organizational forms in knowledge-intensive productions. In the field of political economy, following the work of Ernest André Gellner, Pagano has established a link between nationalism and globalisation, highlighting similarities and discontinuities. Being strongly influenced by the Darwinian theory of evolution, Pagano has also done some works on bioeconomics. In a recent article, in particular, he has suggested that in the course of human evolution sexual selection supplied the development of human brain and intelligence. Pagano has been deeply involved in the debate concerning the economic crisis started in 2007. He has advanced the hypothesis that some of the roots of the crisis are to be found in the institutions of the knowledge economy, in particular the TRIPs, which have substantially increased the cost of investments. According to this interpretation, the possible remedies to the crisis should not only focus on monetary policy, financial regulations or even on standard Keynesian policies, but should be coupled with policies that decrease the level of intellectual monopolisation of the economy. On his personal website, Pagano says that as a Director of the PhD Programme in Economics at the University of Siena, he has tried to co-operate with his colleagues to organise graduate programmes where research students feel part of a community within which they make autonomous choices on their research. See also Positional good Institutional complementarity Publications Books