Previous research has shown a strong positive correlation between short-term persistence and long-term output growth as well as between depreciation rates and long-term output growth. This evidence, therefore, contradicts ...

In this paper we present a solution concept for abstract systems called the admissible hierarchic set. The solution we propose is a refinement of the hierarchic solution, a generalization of the von Neumann and Morgenstern ...

We characterize a monotonic core concept defined on the class of veto balanced games. We also discuss what restricted versions of monotonicity are possible when selecting core allocations. We introduce a family of monotonic ...

We introduce two new monotonicity properties for core concepts: single-valued solution concepts that always select a core allocation whenever the game is balanced (has a nonempty core). We present one result of impossibility ...

Algunas reformas de la Seguridad Social animan u obligan a los individuos a pasar desde un sistema de pensiones con prestación definida gestionado públicamente a otro de aportación definida gestionado privadamente. Con ...

In this paper we analyse the behaviour of the EU market for CO2 emission allowances; specifically, we focus on the contracts maturing in the Kyoto Protocol's second period of application (2008 to 2012). We calibrate the ...

This work analyzes a managerial delegation model in which firms that produce a differentiated good can choose between two production technologies: a low marginal cost technology and a high marginal cost technology. For ...

A patent provides its holder the monopolist´s right to sell licenses that allow the use of new technology. Empirically, most of the patent licensing agreements that are observed include royalties, in particular per unit ...

This work analyzes a managerial delegation model in which firms can choose between a flexible production technology which allows them to produce two different products and a dedicated production technology which limits ...

We study international environmental negotiations when agreements between countries can not be binding. A problem with this kind of negotiations is that countries have incentives for free-riding from such agreements. We ...