Abstract: By using robustness methods we design HCRs that explicitly include scientific uncertainty. Under scientific uncertainty –when the perceived model can be generated by a nearby operating model– robust HCRs are designed assuming that the (inferred) operating model is more persistent than the perceived model. As a result, a robust HCR has a steeper ratio…
Abstract Un problema clásico en el campo de la matemática financiera es el encontrar carteras de inversiones óptimas en el caso de que varias inversiones sean posibles. Si el inversor tiene información privilegiada, al menos dos cosas mejoran. La primera, obviamente, sus probabilidades de obtener beneficio. La segunda, el perfil de las matemáticas necesarias para…
Abstract We provide a model of dynamic duopoly in which firms take into account the financial constraints of all firms. The study of the equilibria of our dynamic game leads to the concept of Bankruptcy-Free outputs (BF) in which no firm can drive another firm to bankruptcy without becoming bankrupt itself. We show that, in…
Abstract: Neoclassical models of international trade do not grant firms any role in shaping countries’ export specialization. However, the evidence shows that in many countries few firms dominate sectoral exports. In this paper we propose an easy-to-implement methodology to determine the contribution of country-level variables, fundamental comparative advantage, and firm-level variables, granular comparative advantage, to…
Abstract: Despite the fact that the use of sporadic advertising schedules is well established in both the advertising literature and market place, the marketing channel literature that focuses on vertical interactions has consistently prescribed continuous advertising strategies over time. This paper investigates, in a bilateral monopoly context a situation in which a manufacturer and a…
Abstract: Due to the presence of duality, cluster analysis has been proposed to analyze Total Information Analysis super distance matrix instead of a row-column joint graph. But the same duality causes that the traditional methods of clustering are not always capable to produce meaningful results. In this paper following Nishisato (2014), the clustering with p-percentile…
Abstract: En este trabajo analizamos un conjunto de «concursos de belleza» («Beauty Contests»- Nagel, AER 1995) jugados en el contexto de redes económicas/sociales. Los Beauty Contests han sido utilizados en campos como las finanzas y en el estudio de la racionalidad limitada de los agentes económicos. En concreto, fue uno de los primeros juegos en…
Abstract: For the funding period of 2014-2020, the European Union demanded from all regions or countries the design of a ‘smart specialisation’ strategy. One of the main goals of this strategy was to shift cohesion fund spending away from infrastructure and to encourage policies that stimulate innovation and increase business competitiveness. A second major goal…
Abstract: El objetivo del seminario es analizar las condiciones de salud en la isla de Cerdeña entre la Unificación italiana y la década de 1920 y documentar la extrema pobreza que afectaba a una parte importante de su población. En este periodo se acentuaron las diferencias de la isla con el resto del país, lo…
Since Esping-Andersen identified different welfare state systems among the European countries in his 1990 work The Three Worlds of Welfare Capitalism, research has been conducted to verify this typology. For instance, Sapir (2005), in his work Globalisation and the Reform of European Social Models, expands the original classification through a simple comparison, identifying four types…
