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Consumption and portfolio rules whit stochastic hyperbolic discounting
(Departamento de Fundamentos del Análisis Económico I, 2013-09)
We extend the classic Merton (1969, 1971) problem that investigates the joint consumption-savings and portfolio-selection problem under capital risk by assuming sophisticated but time-inconsistent agents. We introduce ...
Approximate knowledge of rationality and correlated equilibria
(Departamento de fundamentos del análisis económico I, 2012-07-16)
We extend Aumann's [3] theorem deriving correlated equilibria as a consequence of common priors and common knowledge of rationality by explicitly allowing for non-rational behavior. We replace the
assumption of common ...
Expected Fair Allocation in Farsighted Network Formation
(2013)
I consider cooperation situations where players have network relations. Networks evolve according to a stationary transition probability matrix and at each moment in time players receive payoffs from a stationary allocation ...
Coalitional games with veto players: Myopic and farsighted behavior
(Departamento de Fundamentos del Análisis Económico I, 2013-10-10)
This paper studies an allocation procedure for coalitional games with veto players. The procedure is similar to the one presented by
Dagan et al. (1997) for bankruptcy problems. According to it, a player, the proposer, ...
Monopoly price discrimination with constant elasticity demand
(Departamento de Fundamentos del Análisis Económico I, 2013-11)
This paper presents new results on the welfare e¤ects of third-degree price discrimination under constant elasticity demand. We show that when both the share of the strong market under uniform pricing and the elasticity ...
On the economics of the "meeting competition defense" under the Robinson-Patman Act
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU, 2015-02-19)
In this paper we analyze the welfare effects of third-degree price discrimination when competitive pressure varies across markets. In particular, we study the economic aspects of the Robinson-Patman Act associated with the ...
Countervailing incentives in adverse selection models. A synthesis
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU, 2014-12)
In this paper we propose a simple method of characterizing countervailing incentives in adverse selection problems. The key element in our characterization consists of analyzing properties of the full information
problem. ...
Political Institutions, Technology and Growth: a dynamic panel approach
(Departamento Fundamentos del Ánálisis Económico I UPV/EHU, 2015-10)
This paper investigates whether the effect of political institutions on sectoral economic performance is determined by the level of technological development of industries. Building on previous studies on the linkages among ...
The SD-prekernel for TU games
(Departamento Fundamentos del Análisis Económico I, 2016-03-14)
We introduce and analyze a new solution concept for TU games:The Surplus Distributor Prekernel. Like the prekermel, the new solu-
tion is based on the an alternative motion of complaint of one player against other with ...
Human Capital and Market Size
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU I, 2016-07)
This paper studies how the size of the labour market aff ects workers' decision to invest in human capital. We consider a model of mismatch where firms rank workers according to their level of skills. The matching process ...