On bounds for network revenue management

The Network Revenue Management problem can be formulated as a stochastic dynamic programming problem (DP or the\optimal" solution V *) whose exact solution is computationally intractable. Consequently, a number of heuristics have been proposed in the literature, the most popular of which are the deterministic linear programming (DLP) model, and a simulation based method, the randomized linear programming (RLP) model. Both methods give upper bounds on the optimal solution value (DLP and PHLP respectively). These bounds are used to provide control values that can be used in practice to make accept/deny decisions for booking requests. Recently Adelman [1] and Topaloglu [18] have proposed alternate upper bounds, the affine relaxation (AR) bound and the Lagrangian relaxation (LR) bound respectively, and showed that their bounds are tighter than the DLP bound. Tight bounds are of great interest as it appears from empirical studies and practical experience that models that give tighter bounds also lead to better controls (better in the sense that they lead to more revenue). In this paper we give tightened versions of three bounds, calling themsAR (strong Affine Relaxation), sLR (strong Lagrangian Relaxation) and sPHLP (strong Perfect Hindsight LP), and show relations between them. Speciffically, we show that the sPHLP bound is tighter than sLR bound and sAR bound is tighter than the LR bound. The techniques for deriving the sLR and sPHLP bounds can potentially be applied to other instances of weakly-coupled dynamic programming.

Parental altruism under imperfect information: Theory and evidence

Can we reconcile the predictions of the altruism model of the familywith the evidence on intervivos transfers in the US? This paper expandsthe altruism model by introducing e ?ort of the child and by relaxingthe assumption of perfect information of the parent about the labormarket opportunities of the child. First, I solve and simulate a modelof altruism under imperfect information. Second, I use cross-sectionaldata to test a prediction of the model: Are parental transfers especiallyresponsive to the income variations of children who are very attached tothe labor market? The results suggest that imperfect information accountsfor several patterns of intergenerational transfers in the US.

Increasing political returns and rural-urban migrations

This paper analyzes the different equilibria in rural-urban migrationsand political redistribution that result from the interaction betweenincreasing political returns, the distribution of land, and creditmarket imperfections. Governments that put a special weight on thewelfare of urban workers when setting agricultural prices generate apolitical externality in the urban sector, giving peasants anincentive to migrate in anticipation of policy determination. Ifcredit markets are imperfect, land ownership confers higherproductivity to peasants, who require large price changes to migrate.In this context, land inequality would lead to large migrations and tolarge policy change, while an egalitarian land distribution would leadto no migration and to a small policy change. This interaction shedslight on the contrasting experience of Latin America and East Asia atthe outset of World War II.

Risk dominance selects the leader. An experimental analysis

Coordination games arise very often in studies of industrial organization and international trade. This type of games has multiple strict equilibria, and therefore the identification of testable predictions isvery difficult. We study a vertical product differentiation model with two asymmetric players choosing first qualities and then prices. This game has two equilibria for some parameter values. However, we apply the risk dominance criterion suggested by Harsanyi and Selten and show that it always selects the equilibrium where the leader is the firm having some initial advantage. We then perform an experimental analysis totest whether the risk dominance prediction is supported by the behaviour oflaboratory agents. We show that the probability that the risk dominance prediction is right depends crucially on the degree of asymmetry of the game. The stronger the asymmetries the higher the predictive power of the risk dominance criterion.

Endogenous information structures

Many models in the economics literature deal with strategic situations withprivately informed agents. In those models the information structure isassumed to be exogenous and common knowledge. We consider whether suchmodels, and the results they produce, are robust with respect theendogenization of the information structure. The results depend on whetherinformation acquisition is secret or private, and on whether the strategicsituation involves simultaneous or sequential moves. In particular we findthat only when information is secretly acquired and moves are simultaneous,the results are fully robust. When information is acquired secretly butmoves are sequential additional equilibria may appear. Instead, privateinformation acquisition may make the equilibrium set smaller.

Public and private saving and investment

We decompose aggregate saving and investment into its publicand private components and then document a variety of ``stylized facts''associated with saving and investment rates for a sample of15 countries over the period 1975--1989. In order to seewhether these empirical relationships are consistent with aworld of perfect capital mobility we develop a multi--countrymodel with free trade in a riskfree bond and calibrate it tothe fifteen OECD countries. We pay special attential tomodeling the fiscal policy rules. The model performsremarkably well in accounting for a wide variety of timeseries relationships. Nonetheless the model is not able to capture the crosssectional aspect of the data. In particular, the model cannot accountfor both the large cross country correlation between aggregate saving and investmentrates and the very negative cross country relationship between the public andprivate saving minus investment gaps.

Parental altruism under imperfect information: Theory and evidence

Can we reconcile the predictions of the altruism model of the family withthe evidence on parental monetary transfers in the US? This paper providesa new assessment of this question. I expand the altruism model by introducingeffort of the child and by relaxing the assumption of perfect informationof the parent about the labor market opportunities of the child. First,I solve and simulate a model of altruism and labor supply under imperfectinformation. Second, I use cross-sectional data to test the following prediction of the model: Are parental transfers especially responsive tothe income variations of children who are very attached to the labor market? The results of the analysis suggest that imperfect informationaccounts for many of the patterns of intergenerational transfers in theUS.

A model of collateral, investment and adverse selection

This paper characterizes the relationship between entrepreneurial wealth and aggregate investmentunder adverse selection. Its main finding is that such a relationship need not bemonotonic. In particular, three results emerge from the analysis: (i) pooling equilibria, in whichinvestment is independent of entrepreneurial wealth, are more likely to arise when entrepreneurialwealth is relatively low; (ii) separating equilibria, in which investment is increasing inentrepreneurial wealth, are most likely to arise when entrepreneurial wealth is relatively highand; (iii) for a given interest rate, an increase in entrepreneurial wealth may generate a discontinuousfall in investment.

Adaptive dynamics and the implementation problem with complete information

This paper studies the equilibrating process of several implementationmechanisms using naive adaptive dynamics. We show that the dynamics convergeand are stable, for the canonical mechanism of implementation in Nash equilibrium.In this way we cast some doubt on the criticism of ``complexity'' commonlyused against this mechanism. For mechanisms that use more refined equilibrium concepts,the dynamics converge but are not stable. Some papers in the literatureon implementation with refined equilibrium concepts have claimed that themechanisms they propose are ``simple'' and implement ``everything'' (incontrast with the canonical mechanism). The fact that some of these ``simple''mechanisms have unstable equilibria suggests that these statements shouldbe interpreted with some caution.

The burden of musculoskeletal disorders in Catalonia

INTRODUCTION: Musculoskeletal disorders(MSDs)are extremely common and one of the major causes of disease burden around the world. The original Global Burden of Disease Study was commisioned by the World Bank in 1991 and established the DALY(Disability Ajusted Life Years) as an indicator of disease burden. The DALY calculation allows an assessment of not only mortality but also disability, in terms of time lived in health states worse than perfect health.OBJECTIVE: To estimate the burden of musculoskeletal disorders in Catalonia in 2010, through calculation of the DALY index.

Effects of convection on the removal of the multiplicity of stable states in one-dimensional vertical models

Here I develop a model of a radiative-convective atmosphere with both radiative and convective schemes highly simplified. The atmospheric absorption of radiation at selective wavelengths makes use of constant mass absorption coefficients in finite width spectral bands. The convective regime is introduced by using a prescribed lapse rate in the troposphere. The main novelty of the radiative-convective model developed here is that it is solved without using any angular approximation for the radiation field. The solution obtained in the purely radiation mode (i. e. with convection ignored) leads to multiple equilibria of stable states, being very similar to some results recently found in simple models of planetary atmospheres. However, the introduction of convective processes removes the multiple equilibria of stable states. This shows the importance of taking convective processes into account even for qualitative analyses of planetary atmosphere

Pla de màrqueting per al llançament d'un nou producte en el mercat dels motors elèctrics per a bancs de proves

Ningú no dubte ja del canvi de mentalitat que s’ha produït en els darrers anys en els compradors pel què fa al mercat de l’automòbil. La seguretat i el respecte per el medi ambient, són actualment dos dels factors claus que el consumidor té en compte a l’hora de comprar un vehicle. D’altra banda en els darrers anys la Unió Europea, ha fixat tota una sèrie normatives per tal de reduir les emissions nocives a l’atmosfera. Així doncs, més seguretat i menys emissions, signifiquen vehicles que incorporin components i sistemas cada cop més sofisticats, els quals, a la vegada, necessiten de bancs d’assaig i equips de test per tal de ser validats. Aquest fet ha provocat una revolució dins dels sistemes de test per a vehicles, per als quals han augmentat enormement les exigències en quan a precisions i repetibilitat per tal d’intentar reproduir, amb la màxima fiabilitat possible, les condicions de treball que hauran de suportar els components durant el seu ús real. Les característiques dels motors elèctrics, resulten ideals per a accionar aquest tipus d’aplicacions, ja que permeten un control del parell molt acurat i una repetibilitat quasi perfecte enfront d’altres sistemas utilitzats fins no fa massa temps. Aquesta demanda creixent d’aquest tipus de màquines elèctriques, obra una nova oportunitat de negoci per a les empreses fabricants de motors elèctrics. L’objectiu principal d’aquest treball és identificar i satisfer les necessitats dels clients, dins d’un mercat industrial concret: el mercat dels motors elèctrics per a bancs de proves de components per a la indústria de l’automoció. La fita és doncs la de proporcionar les eines necessàries per tal de que una empresa, fabricant de motors elèctrics de velocitat variable, pugui realitzar el disseny, desenvolupament i llançament comercial d’un nou tipus de motor, específicament pensat per aquest mercat, amb les màximes garanties d’èxit. Com a principal conclusió, el treball argumenta que el nou producte representa una oportunitat de negoci força atractiva i rendible per a l’empresa, i permetrà diversificar la oferta de la companyia cap a un nou sector fins ara no explotat.

Estudi i implantació de programari lliure

RESUM Actualment la majoria de nosaltres sabem de l’existència de molts programes lliures, però hem tenir clar que lliure no vol dir sempre programa gratuït. Tot i que a vegades sí que pot ser-ho, es té en compte molt més que això: és una manera de pensar i entendre el programari i al llarg dels anys ha generat tot un moviment social. Considerem que un programa lliure és aquell que garanteix als usuaris la llibertat per executar, copiar, distribuir, estudiar, canviar i millorar el codi programat, com molt bé defineixen les seves llibertats bàsiques. El programari lliure el podem trobar funcionant en ordinadors personals, escoles, empreses diverses, administracions, etc. ja que la majoria de programes que utilitzen actualment, com hem vist, tenen el seu equivalent en lliure. El fet de si és viable que una empresa es passi a programari lliure, depèn ben bé del seu entorn, ja que en funció d’aquest li serà més o menys fàcil la migració. La finalitat d’aquest projecte és, primer de tot, fer un ampli estudi del món del programari lliure i del seu moviment social. S’ha fet una recerca de diferents aspectes dins del programari lliure per conèixer-lo a fons i després s’ha proposat una possible implantació d’aquest en un usuari domèstic i en una administració pública, tenint en compte tots els aspectes vistos en l’estudi, valorant si totes les idees que defensa i els beneficis que aporta són aplicables i viables en qualsevol persona i àmbit i el perquè. Com a conclusió principal en destacaria que tot i que el programa lliure disposa d’una ideologia que agrada i té uns programes tècnicament perfectes (sense que això sigui el seu objectiu principal), penso que encara hi ha molt camí per recórrer quant a una migració en grans entorns, ja que per exemple en un ajuntament una migració total és encara difícil (tot i que no impossible perquè n’hi ha que s’hi han migrat). A l’apartat d’annexos s’hi inclou un glossari amb un seguit de terminologies amb paraules que no tothom pot saber i s’ha cregut oportú incloure-les en aquest apartat. La primera vegada que apareix alguna d’aquestes paraules la podem trobar senyalitzada amb un *.

Análisis de viabilidad técnica-económica del parque eólico Altos de Peralta

RESUMEN La energia eolica se considera una forma indirecta de energia solar. Entre el 1 y 2% de la energia proveniente del sol se convierte en viento, debido al movimiento del aire ocasionado por el desigual calentamiento de la superficie terrestre. La energia cinetica del viento puede transformarse en energia util, tanto mecanica como electrica. La energia eolica, transformada en energia mecanica ha sido historicamente aprovechada, pero su uso para la generacion de energia electrica es mas reciente, en respuesta a la crisis del petroleo y a los impactos ambientales derivados del uso de combustibles. El objetivo principal de este trabajo es hacer un analisis de viabilidad desde un punto de vista tecnico y economico de un parque eolico situado en el municipio de Barasoain (Navarra). Desde el punto de vista tecnico se han estudiado los aspectos constructivos del parque considerando sus diferentes infraestructuras de obra civil y electrica asi como los niveles de recurso eolico. En el ambito economico y financiero se han analizado los aspectos y ratios mas relevantes que definen un proyecto de estas caracteristicas asi como el modelo de financiacion elegida basada en el Project- Finance. Entre las conclusiones mas destacadas de este proyecto cabe destacar la contribucion de la construccion del parque al desarrollo social y economico de la zona donde queda ubicado contribuyendo a la creacion de puestos de trabajo, tanto en la fase de construccion como de explotacion y una perfecta armonia con condicionantes medioambientales de la zona. El analisis tecnico realizado nos indica la viabilidad tecnica del parque tanto desde el punto de vista de recurso eolico como la idoneidad para poder evacuar la energia producida. Por otro lado, los resultados obtenidos cumplen perfectamente con los estandares requeridos por los financiadores de los parques y resultando ser muy atractivos para sus accionistas

On the role of non-equilibrium focal points as coordination devices

Considering a pure coordination game with a large number of equivalentequilibria, we argue, first, that a focal point that is itself not a Nash equilibriumand is Pareto dominated by all Nash equilibria, may attract the players'choices. Second, we argue that such a non-equilibrium focal point may act asan equilibrium selection device that the players use to coordinate on a closelyrelated small subset of Nash equilibria. We present theoretical as well asexperimental support for these two new roles of focal points as coordinationdevices.