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Timedependent outside option in an alternating offers bargaining model
(1997)In this work I consider an alternating offers bargaining model in which a timedependent outside option is introduced. The purpose of this work is to analyze relationships between S.P.E. utility pairs induced by such a ... 
Productivity's development in the Basque Economy during the period 19851994
(199809)[EN] The aim of this paper is to analyse the development of Basque Country's economy's productivity in the period 19851994 and, identify which are the factors that decide that evolution. We specify a CobbDouglas production ... 
TwoStage Nonparametric Regression for Longitudinal Data
(199901)In the analysis of longitudinal data it is of main interest to investigate the existence of group and individual effects under correlated observations across time. In this paper, we develop a nonparametric twostep procedure ... 
Choice of Product Variety for the Durable Goods Monopolist
(199901)This paper analyzes the strategic choice of variety by a monopolist seller of a durable good as a means to mitigate his commitment problem. The monopolist chooses his product variety with a goal of ensuring that a strong ... 
Transboundary Externalities in the Environmental Transition Hypothesis
(199901)The Environmental Kuznets Curve (EKC) is a hypothesis which implies that it is possible to "grow out of environmental degradation." Most theoretical models of the EKC relation have not accounted for transboundary and ... 
Syncronized or Staggered Wage Bargaining
(199902)[EN] This paper analyzes the timing of wage bargaining in a unionized market, assuming that workers are organized in independent unions. In equilibrium, when unions decide the timing of the negotiations, we obtain a staggered ... 
Finite sample behavior of two step estimators in selection models
(199904)The problem of specification errors in sample selection models has received considerable attention both theoretically and empirically. However, very few is known about the finite sample behavior of two step estimators. In ... 
Fishing Technology and Optimal Distribution of Harvest Rates
(199906)In this paper we analyze the optimal management of a joint ownership fishery exploitation model where agents use different fishing gears. As opposed to other works, we consider a model in which the fishing technology affects ... 
A Semiparametric Estimation of Liquidity Effects on Option Pricing
(199909)This paper proposes a semiparametric option pricing model with liquidity, as proxied by the relative bidask spread. The nonparametric volatility function with liquidity as an explanatory variable is estimated using the ... 
La Educación Ocupacional y la Salida del Paro en España
(199910)[EN] This paper considers the estimation of the effect of vocational education on the probability of employment using Spanish data from the linked Active Population Survey (EPA) since 1992 to 1997. After allowing for ... 
Should firms allow workers to participate in R&D investment?
(199910)[EN] This paper analyzes if the introduction of new technologies in unionized firms, should be chosen unilaterally by the firm or negotiated with the union. The results show that firms prefer to choose the level of R&D or ... 
Should Owners of Firms Delegate Longrun Decisions?
(199911)This paper analyzes whether owners of firms have incentives to delegate their longrun decisions to managers or not. The result arising from our analysis shows that owners do have incentives to keep their longrun decisions ... 
Optimal Environmental Taxation When Goods and Contamination are Durable
(199911)[EN] This paper analyzes the effects of optimal taxation on a polluting monopolist who produces a durable good and cannot precommit to future sale prices. The government establishes the taxes that maximize social welfare, ... 
Uncertainty and Real Options. Investment and Development of Fishing Resources (I)
(200001)[EN] The valuation of development opportunity of a fishery is made particularly difficult by the high degree of uncertainty attaching to the price of the fishing resource. The netpresentvalue and other discounted cashflows ... 
Uncertainty and Real Options. Investment and Development of Fishing Resources (II)
(200001)[EN] The irreversibility of the investment expenditures in a fishery and the high degree of uncertainty attaching to the price of the fishing resources make the evaluation of investment opportunity in a fishery particularly ... 
Bayesian learning in misspecified models
(200002)A central unanswered question in economic theory is that of price formation in disequilibrium. This paper lays down the methodological groundwork for a model that has been suggested as an answer to this question (Arrow, ... 
Environmental Standards, Wage Incomes and the Location of Polluting Firms
(200003)The purpose of this paper is to study how the choice of environmental standards by governments is affected by the existence of wage incomes when firms' location is endogenous. In developed countries labor is unionized, ... 
A note on LopezHernandez procedure: New nonhierarchical algorithms in classification of data
(200003)[EN] In this short note, we make a critique about the procedure developed in the Inductive Algorithm in the Objects of LopezHernandez (1997). It is well known that the determination of maximal cliques in a graph is an ... 
Survival Analysis Using a Censored Semiparametric Regression Model
(200004)In this work we study the effect of several covariates X on a censored response variable T with unknown probability distribution. A semiparametric model is proposed to consider situations where the functional form of the ... 
Comparative Study of Alternatives Analysis of Incomplete Disjunctive Tables
(200005)[EN] Multiple Correspondence Analysis (MCA) studies the relationship between several categorical variables defined with respect to a certain population. However, one of the main sources of information are those surveys in ...