The value of useless information

There are many situations in which individuals have a choice of whether or notto observe eventual outcomes. In these instances, individuals often prefer to remainignorant. These contexts are outside the scope of analysis of the standard vonNeumann-Morgenstern (vNM) expected utility model, which does not distinguishbetween lotteries for which the agent sees the final outcome and those for which hedoes not. I develop a simple model that admits preferences for making an observationor for remaining in doubt. I then use this model to analyze the connectionbetween preferences of this nature and risk-attitude. This framework accommodatesa wide array of behavioral patterns that violate the vNM model, and thatmay not seem related, prima facie. For instance, it admits self-handicapping, inwhich an agent chooses to impair his own performance. It also accommodatesa status quo bias without having recourse to framing effects, or to an explicitdefinition of reference points. In a political economy context, voters have strictincentives to shield themselves from information. In settings with other-regardingpreferences, this model predicts observed behavior that seems inconsistent witheither altruism or self-interested behavior.

Immigration and the survival of the welfare state

This paper analyzes the political sustainability of the welfare state in a model where immigration policy is also endogenous. In the model, the skills of the native population are affected by immigration and skill accumulation. Moreover, immigrants affect future policies, once they gain the right to vote. The main finding is that the long-run survival of redistributive policies is linked to an immigration policy specifying both skill and quantity restrictions. In particular, in steady state the unskilled majority admits a limited inflow of unskilled immigrants in order to offset growth in the fraction of skilled voters and maintain a high degree of income redistribution.Interestingly, equilibrium immigration policy shifts from unrestricted skilled immigration,when the country is skill-scarce, to restricted unskilled immigration, as the fraction of native skilled workers increases. The analysis also suggests a new set of variables that may help explain international differences in immigration restrictions.

Technological change and the wealth of nations

We discuss a unified theory of directed technological change and technologyadoption that can shed light on the causes of persistent productivity differencesacross countries. In our model, new technologies are designed in advanced countries and diffuse endogenously to less developed countries. Our framework is richenough to highlight three broad reasons for productivity differences: inappropriatetechnologies, policy-induced barriers to technology adoption, and within-countrymisallocations across sectors due to policy distortions. We also discuss the effectsof two aspects of globalization, trade in goods and migration, on the wealth ofnations through their impact on the direction of technical progress. By doing so,we illustrate some of the equalizing and unequalizing forces of globalization.

Time scarcity and the market for news

We develop a theory of news coverage in environments of information abundance. News consumersare time-constrained and browse through news items that are available across competingoutlets, choosing which ones to read or skip. Media firms are aware of consumers' preferences andconstraints, and decide on rankings of news items that maximize their profits. We find that, evenwhen readers and outlets are rational and unbiased and when markets are competitive, readersmay read more than they would like to, and the stories they read may be significantly differentfrom the ones they prefer. Next, we derive implications on diverse aspects of new and traditionalmedia. These include a rationale for tabloid news, a theory of optimal advertisement placementin newscasts, and a justification for readers' migration to online media platforms in order to circumventinefficient rankings found in traditional media. We then analyze methods for restoringreader-efficient standards and discuss the political economy implications of the theory.

Reinventar la metròpoli: Barcelona i el model de la Greater London Authority

La dècada de 1980 va significar un punt i a part per als governs metropolitans. Després de viure una època daurada durant els 60 i 70, la reestructuració del sistema politicoeconòmic va comportar que les estructures de govern metropolità fossin qüestionades i fins i tot suprimides. Quan tot semblava indicar que restarien només com a record, la lògica de competència entre grans ciutats i la necessitat de reinventar-se en base a un desenvolupament sostenible va suposar un inesperat renaixement de la política metropolitana. Si fins aleshores la seva necessitat s'havia justificat bàsicament des d'un punt de vista funcional, seguint pautes tecnòcrates i burocratitzades, la nova metropolítica se centra en la competitivitat i en la sostenibilitat, alhora que posa èmfasi en assajar mètodes de governança. Londres, ciutat que presenta certs paral·lelismes històrics amb Barcelona, ha estat una ciutat pionera i de la seva experiència es pot aprendre per la capital catalana

Los gitanos en España: mercado de trabajo y educación: crónica de un desencuentro

Los gitanos en Europa y, concretamente en España, se han caracterizado por mantener una situación de marginación social y cultural a pesar de los cambios experimentados por las sociedades (económicos, demográficos, sociales y políticos). En los últimos cuarenta años, los gitanos se han ido adaptando a las diferentes coyunturas económicas y sociales que les han afectado pero que no les han comportado, a una gran parte, la salida de la situación marginal en que viven. El trabajo que presentamos, aunque focalizado en el mercado laboral y la educación, presenta la situación de los gitanos ante los cambios acaecidos y su actual situación laboral y educativa. Esta última es uno de sus principales problemas ya que la escasa titulación y la distancia (cuando no rechazo) que expresan hacia el sistema educativo español tal como está concebido les sitúa y les condena a posiciones subordinadas en el mercado laboral, que también hay que decir que en ocasiones no quieren abandonar.