An extensive literature has studied both in the field and in the lab the effects on performance of providing absolute and relative verifiable feedback, finding mixed results. Another branch of the literature has studied the effects of non-verifiable centrally-provided feedback, also with mixed results. But, to the best of our knowledge, no study has explored…
Abstract This paper theoretically explores the role of elites in the rise of progressive taxation in Western countries at the beginning of the XXth century and in its posterior erosion in the last four decades. We focus on its interaction with the level of inequality between the elite and the citizens. We analyse a stylized…
El cómputo exacto de soluciones de juegos cooperativos presenta una alta complejidad computacional cuando el número de jugadores involucrados es lo suficientemente grande. En este sentido, las metodologías de muestreo se presentan como alternativa para su aproximación en general. En esta charla revisaremos algunas de las propuestas en la literatura basadas en muestreo, así como…
El eminente economista Paul De Grauwe, en la víspera del día de la ceremonia en la que tendrá lugar su investidura como Doctor Honoris Causa de la Universidad de Murcia, impartirá un seminario/conferencia dirigido a los estudiantes del programa de doctorado DEcIDE y, en general, a todos los estudiantes y profesores de la Facultad de…
In many economically relevant situations, the outcome of a negotiation determines not only how the two parties share the surplus generated by their interaction (share effect), but also the aggregate surplus (size effect). We show that, in multilateral negotiations modeled using the Nash-in-Nash solution, the equilibrium payoff of a party may be decreasing in her…
We use high-performance Continuous Double Auction trading software and algorithms to study the effects of algorithmic trading on pricing and allocative efficiency in a laboratory environment. In addition to trading manually, participants can deploy algorithms that bid marginal valuations modulo a spread and a market-making (maker) or liquidity-taking (taker) parameter. The spread and maker/taker parameters…
La investigación científica y la divulgación, esto es poner al alcance de un público más amplio son dos caras de una misma moneda, pero no es lo mismo. Entre los científicos y también entre los economistas encontramos a grandes investigadores que con el paso de los años también se han convertido en divulgadores muy populares…
Project management is an important body of knowledge and practices that comprises the planning, organization and control of resources to achieve one or more pre-determined objectives. In this presentation, we introduce ProjectManagement, a new R package that provides the necessary tools to manage projects in a broad sense, and illustrate its use by examples. We…
We consider the problem of randomly allocating indivisible units of a resource among agents with conflicting claims on the resource. In the two-agent case, we characterize three focal rules combining axioms reflecting principles of compensation and sacrifice: probabilistic uniform awards, probabilistic uniform losses and probabilistic concede-and-divide. In the general case of n agents, the two…
We take the axiomatic approach to uncover the structure of the revenue-sharing problem from broadcasting sports leagues. Our starting point is to explore the implications of three basic axioms: additivity, order preservation and weak upper bound. We show that the combination of these axioms characterizes a large family of rules, which is made of compromises…
