General equilibrium with asymmetric information: a dual approach

We study markets where the characteristics or decisions of certain agents are relevant but not known to their trading partners. Assuming exclusive transactions, the environment is described as a continuum economy with indivisible commodities. We characterize incentive efficient allocations as solutions to linear programming problems and appeal to duality theory to demonstrate the generic existence of external effects in these markets. Because under certain conditions such effects may generate non-convexities, randomization emerges as a theoretic possibility. In characterizing market equilibria we show that, consistently with the personalized nature of transactions, prices are generally non-linear in the underlying consumption. On the other hand, external effects may have critical implications for market efficiency. With adverse selection, in fact, cross-subsidization across agents with different private information may be necessary for optimality, and so, the market need not even achieve an incentive efficient allocation. In contrast, for the case of a single commodity, we find that when informational asymmetries arise after the trading period (e.g. moral hazard; ex post hidden types) external effects are fully internalized at a market equilibrium.

Where Has the Old Debate Gone? Realism, Institutionalism, and IR Theory

This paper resorts to the contribution of the science philosopher Gerald Holton to map some of the IR arguments and debates in an unconventional and more insightful way. From this starting point, it is sustained that the formerly all-pervading neorealism-neoinstitutionalism debate has lost its appeal and is attracting less and less interest among scholars. It does not structure the approach of the theoretically-oriented authors any more; at least, not with the habitual intensity. More specifically, we defend that the neo-neo rapprochement, even if it could have demonstrated that international cooperation is possible and relevant in a Realist world, it has also impoverished theoretical debate by hiding some of the most significant issues that preoccupied classical transnationalists. Hence, some authors appear to be trying to rescue some of these arguments in an analytical and systematic fashion, opening up a theoretical querelle that may be the next one to pay attention to.

Improving the risk concept: a revision of Arrow-Pratt theory in the context of controlled dynamic stochastic environments

In the literature on risk, one generally assume that uncertainty is uniformly distributed over the entire working horizon, when the absolute risk-aversion index is negative and constant. From this perspective, the risk is totally exogenous, and thus independent of endogenous risks. The classic procedure is "myopic" with regard to potential changes in the future behavior of the agent due to inherent random fluctuations of the system. The agent's attitude to risk is rigid. Although often criticized, the most widely used hypothesis for the analysis of economic behavior is risk-neutrality. This borderline case must be envisaged with prudence in a dynamic stochastic context. The traditional measures of risk-aversion are generally too weak for making comparisons between risky situations, given the dynamic �complexity of the environment. This can be highlighted in concrete problems in finance and insurance, context for which the Arrow-Pratt measures (in the small) give ambiguous.

Diseño de filtros con topología apilada mediante resonadores FBAR

Els continguts de la memòria es divideixen en dues parts fonamentals, precedides d’una breu explicació on s’introdueix al lector en el tema; primer s’exposen les bases d’un ressonador simple FBAR, d’on s’obtenen equacions de control vitals, i seguidament es plantegen les bases per a un ressonador apilat SCR, derivades de l’estudi previ d’un ressonador simple. La primera part fonamental del treball es centra en l’anàlisi d’un ressonador SCR. Aquest anàlisi es recolza sobre el punt de vista teòric dels paràmetres imatge, el nostre punt de sortida. Aquesta primera part és la més teòrica: obtenció i aplicació dels paràmetres imatge i obtenció dels elements discrets que conformen el circuit equivalent SCR, una xarxa de dos ports. Posteriorment, s’analitza què succeeix modificant els valors dels elements discrets sense variar determinats paràmetres imatge i finalment, es proposa una aproximació per a controlar determinades especificacions de disseny, com són l’ample de banda de transmissió de la xarxa i el factor de qualitat, en funció de les modificacions dels elements discrets. En la segona part s’analitzen, de forma qualitativa, xarxes compostes per diferents ressonadors apilats connectats en cascada. Aquest segon estudi es divideix en dues subparts. En la primera connectem N ressonadors idèntics, plantegem algunes equacions de control i analitzem les respostes. En la segona, es planteja la connexió de dos (N=2) ressonadors diferents amb freqüències de ressonància properes. Aquest segon anàlisi es també totalment qualitatiu, però ens aporta informació que amb la unió de N ressonadors iguals no aconseguíem. Finalitzant aquesta segona part, es planteja l’optimització dels resultats obtinguts per a N=2, mitjançant estructures N=3 ressonadors.

In Search of a theory of debt management

A growing literature integrates theories of debt management into models of optimal fiscal policy. One promising theory argues that the composition of government debt should be chosen so that fluctuations in the market value of debt offset changes in expected future deficits. This complete market approach to debt management is valid even when the government only issues non-contingent bonds. A number of authors conclude from this approach that governments should issue long term debt and invest in short term assets. We argue that the conclusions of this approach are too fragile to serve as a basis for policy recommendations. This is because bonds at different maturities have highly correlated returns, causing the determination of the optimal portfolio to be ill-conditioned. To make this point concrete we examine the implications of this approach to debt management in various models, both analytically and using numerical methods calibrated to the US economy. We find the complete market approach recommends asset positions which are huge multiples of GDP. Introducing persistent shocks or capital accumulation only worsens this problem. Increasing the volatility of interest rates through habits partly reduces the size of these simulations we find no presumption that governments should issue long term debt ? policy recommendations can be easily reversed through small perturbations in the specification of shocks or small variations in the maturity of bonds issued. We further extend the literature by removing the assumption that governments every period costlessly repurchase all outstanding debt. This exacerbates the size of the required positions, worsens their volatility and in some cases produces instability in debt holdings. We conclude that it is very difficult to insulate fiscal policy from shocks by using the complete markets approach to debt management. Given the limited variability of the yield curve using maturities is a poor way to substitute for state contingent debt. The result is the positions recommended by this approach conflict with a number of features that we believe are important in making bond markets incomplete e.g allowing for transaction costs, liquidity effects, etc.. Until these features are all fully incorporated we remain in search of a theory of debt management capable of providing robust policy insights.

The Complete Information First. Price Auction or the Importance of Being Indivisible

Abstract Despite the popularity of auction theoretical thinking, it appears that no one has presented an elementary equilibrium analysis of the first-price sealed-bid auction mechanism under complete information. This paper aims to remedy that omission. We show that the existence of pure strategy undominated Nash equilibria requires that the bidding space is not "too divisible" (that is, a continuum). In fact, when bids must form part of a finite grid there always exists a "high price equilibrium". However, there might also be "low price equilibria" and when the bidding space is very restrictive the revenue obtained in these "low price equilibria" might be very low. We discuss the properties of the equilibria and an application of auction theoretical thinking in which "low price equilibria" may be relevant. Keywords: First-price auctions, undominated Nash equilibria. JEL Classification Numbers: C72 (Noncooperative Games), D44 (Auctions).

A well-posedness theory in measures for some kinetic models of collective motion

We present existence, uniqueness and continuous dependence results for some kinetic equations motivated by models for the collective behavior of large groups of individuals. Models of this kind have been recently proposed to study the behavior of large groups of animals, such as flocks of birds, swarms, or schools of fish. Our aim is to give a well-posedness theory for general models which possibly include a variety of effects: an interaction through a potential, such as a short-range repulsion and long-range attraction; a velocity-averaging effect where individuals try to adapt their own velocity to that of other individuals in their surroundings; and self-propulsion effects, which take into account effects on one individual that are independent of the others. We develop our theory in a space of measures, using mass transportation distances. As consequences of our theory we show also the convergence of particle systems to their corresponding kinetic equations, and the local-in-time convergence to the hydrodynamic limit for one of the models.

A critical application of securitization theory: overcoming the normative dilemma of writing security

This article addresses the normative dilemma located within the application of `securitization,’ as a method of understanding the social construction of threats and security policies. Securitization as a theoretical and practical undertaking is being increasingly used by scholars and practitioners. This scholarly endeavour wishes to provide those wishing to engage with securitization with an alternative application of this theory; one which is sensitive to and self-reflective of the possible normative consequences of its employment. This article argues that discussing and analyzing securitization processes have normative implications, which is understood here to be the negative securitization of a referent. The negative securitization of a referent is asserted to be carried out through the unchallenged analysis of securitization processes which have emerged through relations of exclusion and power. It then offers a critical understanding and application of securitization studies as a way of overcoming the identified normative dilemma. First, it examines how the Copenhagen School’s formation of securitization theory gives rise to a normative dilemma, which is situated in the performative and symbolic power of security as a political invocation and theoretical concept. Second, it evaluates previous attempts to overcome the normative dilemma of securitization studies, outlining the obstacles that each individual proposal faces. Third, this article argues that the normative dilemma of applying securitization can be avoided by firstly, deconstructing the institutional power of security actors and dominant security subjectivities and secondly, by addressing countering or alternative approaches to security and incorporating different security subjectivities. Examples of the securitization of international terrorism and immigration are prominent throughout.

Las nuevas tecnologías en la circulación de los discursos literarios y artísticos

La acelerada invención de nuevos hardware y software van modificando, casi diariamente, la percepción del mundo, y, por lo tanto, la producción cultural, permeabilizando conceptos como arte-literatura, cuadro-libro, imagen-texto. Si bien estas parejas han sido siempre objeto del discurso teórico, la discusión asume hoy una urgencia creciente al momento que las nuevas tecnologías exponen lo que estaba refugiado en el reino de la teoría. La misma forma de comprender la realidad se ve afectada por la inmediatez de estos medios. La investigación analiza la obra de diferentes autores de los nuevos medios que trabajan en torno a la problemática de la representación de la memoria en esta perspectiva contemporánea. El trabajo de investigación desarrollado en la Tesis Doctoral se centra en la forma de representación de la memoria, así como esta planteada en la obra de Chris Marker. Interesan especialmente los últimos dispositivos creados por el autor en el marco de las llamadas nuevas tecnologías y los nuevos espacios de exposición de cine. El proyecto propone un análisis en torno a la memoria que dichos discursos sugieren a través de los temas que les son propios: archivo, identidades culturales, contribución del espectador, base de datos y tratamiento tecnológico de la información. Se ha seleccionado la obra de Chris Marker por las características de realización y de discurso que permiten una amplia discusión sobre las llamadas nuevas tecnologías y el mundo que éstas representan en el nuevo espacio híbrido construido entre las artes visuales, la literatura y la tecnología.

A right to a national space of communication? : on Stateless nations, their right to a space of communication of their own

Hem establert les bases metodològiques i teòriques per investigar la pregunta “Tenen les nacions sense estat el dret de controlar el seu propi espai de comunicació?”. La investigació ajusta el concepte d’espai de comunicació a la teoria política, cercant els seus límits en els drets individuals i, des de la perspectiva del liberalisme 2, aportant la justificació del seu control en quant que plataforma que incideix en la conservació i supervivència d’una cultura nacional. El primer article i fase de la tesi és l’adaptació i definició del concepte espai de comunicació. Fins ara, la recerca ha proposat diferents models d’espai de comunicació entenent si es tracta d’una visió emfatitzant la distribució i la producció de material marcat amb els símbols de la identitat nacional de la societat emissora, o bé si emfatitza la idea d’un espai de circulació de fluxos comunicatiu ajustat a un territori tradicionalment vinculat a una identitat nacional o nació sense estat. Igualment, es distingeix la dimensió d’emissió –sortir del territori al món- i la de recepció –fluxos informatius rebuts des del món al territori, concretament, al ciutadà; el paper d’intervenció de les institucions democràtiques és diferent en una dimensió o una altra i, per tant, també són diferents els drets afectats i les teories o principis que neguen o justifiquen el control de l’espai de comunicació. També s’ha indagat en les teories sobre els efectes cognitius dels mitjans de comunicació per relacionar-los amb la construcció nacional com a cohesió simbòlica i cultural. Si bé els mitjans no poden fer canviar de pensament immediatament, sí que poden conformar a llarg termini una percepció nacional general. Una comunitat és imaginada, donada la distància física dels seus components, i la comunicació social és, juntament amb l’educació, el principal factor de construcció nacional, avui en dia.

Information Mobility: Information Dissemination in Mobile Networks

En el nostre projecte, considerem un escenari urbà o interurbà on persones amb dispositius mòbils (smartphones) o vehicles equipats amb interfícies de comunicació, estan interessats en compartir fitxers entre ells o descarregar-los al creuar Punts d’Accés (APs) propers a la carretera. Estudiem la possibilitat d’utilizar la cooperació en les trobades casuals entre nodes per augmentar la velocitat de descàrrega global. Amb aquest objectiu, plantejem algoritmes per a la selecció de quins paquets, per a quins destins i quins transportistes s’escullen en cada moment. Mitjançant extenses simulacions, mostrem com les cooperacions carry&forward dels nodes augmenten significativament la velocitat de descàrrega dels usuaris, i com aquest resultat es manté per a diversos patrons de mobilitat, col•locacions d'AP i càrregues de la xarxa. Per altra banda, aparells com els smartphones, on la targeta de WiFi està encesa contínuament, consumeixen l'energia de la bateria en poques hores. En molts escenaris, una targeta WiFi sempre activa és poc útil, perque sovint no hi ha necessitat de transmissió o recepció. Aquest fet es veu agreujat en les Delay Tolerant Networks (DTN), on els nodes intercanvien dades quan es creuen i en tenen l’oportunitat. Les tècniques de gestió de l’estalvi d’energia permeten extendre la duració de les bateries. El nostre projecte analitza els avantatges i inconvenients que apareixen quan els nodes apaguen períodicament la seva targeta wireless per a estalviar energia en escenaris DTN. Els nostres resultats mostren les condicions en que un node pot desconnectar la bateria sense afectar la probabilitat de contacte amb altres nodes, i les condicions en que aquesta disminueix. Per exemple, es demostra que la vida del node pot ser duplicada mantenint la probabilitat de contacte a 1. I que aquesta disminueix ràpidament en intentar augmentar més la vida útil.

Information systems for water resources management improvement in developing countries

Water resources management, as also water service provision projects in developing countries have difficulties to take adequate decisions due to scarce reliable information, and a lack of proper information managing. Some appropriate tools need to be developed in order to improve decision making to improve water management and access of the poorest, through the design of Decision Support Systems (DSS). On the one side, a DSS for developing co-operation projects on water access improvement has been developed. Such a tool has specific context constrains (structure of the system, software requirements) and needs (Logical Framework Approach monitoring, organizational-learning, accountability and evaluation) that shall be considered for its design. Key aspects for its successful implementation have appeared to be a participatory design of the system and support of the managerial positions at the inception phase. A case study in Tanzania was conducted, together with the Spanish NGO ONGAWA – Ingeniería para el Desarrollo. On the other side, DSS are required also to improve decision making on water management resources in order to achieve a sustainable development that not only improves the living conditions of the population in developing countries, but that also does not hinder opportunities of the poorest on those context. A DSS made to fulfil these requirements shall be using information from water resources modelling, as also on the environment and the social context. Through the research, a case study has been conducted in the Central Rift Valley of Ethiopia, an endhorreic basin 160 km south of Addis Ababa. There, water has been modelled using ArcSWAT, a physically based model which can assess the impact of land management practices on large complex watersheds with varying soils, land use and management conditions over long periods of time. Moreover, governance on water and environment as also the socioeconomic context have been studied.

The Role of Information in Contemporary Migration. More Sources but Less Informed

La migració internacional contemporània és integrada en un procés d'interconnexió global definit per les revolucions del transport i de les tecnologies de la informació i la comunicació. Una de les conseqüències d'aquesta interconnexió global és que les persones migrants tenen més capacitat per a processar informació tant abans com després de marxar. Aquests canvis podrien tenir implicacions inesperades per a la migració contemporània pel que fa a la capacitat de les persones migrants per a prendre decisions més informades, la reducció de la incertesa en contextos migratoris, el desdibuixament del concepte de distància o la decisió d'emigrar cap a llocs més llunyans. Aquesta recerca és important, ja que la manca de coneixement sobre aquesta qüestió podria contribuir a fer augmentar la distància entre els objectius de les polítiques de migració i els seus resultats. El paper que tenen els agents de la informació en els contextos migratoris també podria canviar. En aquest escenari, perquè les polítiques de migració siguin més efectives, s'haurà de tenir en compte la major capacitat de la població migrant de processar la informació i les fonts d'informació en què es confia. Aquest article demostra que l'equació més informació equival a més ben informat no es compleix sempre. Fins i tot en l'era de la informació, les fonts no fiables, les expectatives falses, la sobreinformació i els rumors encara són presents en els contextos migratoris. Tanmateix, defensem l'argument que aquests efectes no volguts es podrien reduir complint quatre requisits de la informació fiable: que sigui exhaustiva, que sigui rellevant, que s'hi confiï i que sigui actualitzada.

Improving Clustering Algorithms for Image Segmentation using Contour and Region Information

In image segmentation, clustering algorithms are very popular because they are intuitive and, some of them, easy to implement. For instance, the k-means is one of the most used in the literature, and many authors successfully compare their new proposal with the results achieved by the k-means. However, it is well known that clustering image segmentation has many problems. For instance, the number of regions of the image has to be known a priori, as well as different initial seed placement (initial clusters) could produce different segmentation results. Most of these algorithms could be slightly improved by considering the coordinates of the image as features in the clustering process (to take spatial region information into account). In this paper we propose a significant improvement of clustering algorithms for image segmentation. The method is qualitatively and quantitative evaluated over a set of synthetic and real images, and compared with classical clustering approaches. Results demonstrate the validity of this new approach

Experimental Modeling and Control Strategies on an Open Mobile Robot Platform PRIM

This research work deals with the problem of modeling and design of low level speed controller for the mobile robot PRIM. The main objective is to develop an effective educational tool. On one hand, the interests in using the open mobile platform PRIM consist in integrating several highly related subjects to the automatic control theory in an educational context, by embracing the subjects of communications, signal processing, sensor fusion and hardware design, amongst others. On the other hand, the idea is to implement useful navigation strategies such that the robot can be served as a mobile multimedia information point. It is in this context, when navigation strategies are oriented to goal achievement, that a local model predictive control is attained. Hence, such studies are presented as a very interesting control strategy in order to develop the future capabilities of the system