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.

A dual characterization of incentive efficiency

We show that incentive efficient allocations in economies with adverse selection and moral hazard can be determined as optimal solutions to a linear programming problem and we use duality theory to obtain a complete characterization of the optima. Our dual analysis identifies welfare effects associated with the incentives of the agents to truthfully reveal their private information. Because these welfare effects may generate non-convexities, incentive efficient allocations may involve randomization. Other properties of incentive efficient allocations are also derived.

Diseño e implementación de un divisor de potencia en banda dual con estructuras metamateriales basadas en CSRRs

L'electromagnetisme és una branca de la física que està en continu estudi. Fins a mitjans de la dècada dels 60 es pensava que, per a la propagació de les ones electromagnètiques fos possible, els medis propagatius havien de presentar una permitivitat dielèctrica i una permeabilitat magnètica simultàniament positives. No obstant, Victor G. Veselago va revolucionar la teoria electromagnètica amb la idea dels medis amb ε i μ negatives i va donar amb això origen als medis metamaterials. En el present treball s'estudiaran els principis físics en els que es fonamenten els metamaterials. Es veuran algunes de les seves característiques que els converteixen en medis exòtics i com aquestes poden ser utilitzades en el desenvolupament de dispositius amb prestacions difícils d'obtenir amb les tecnologies convencionals. A continuació s'aplicaran els conceptes tractats en el disseny d'un inversor d'impedàncies implementat mitjançant ressonadors en anells oberts complementaris. Aquest dispositiu, que presentarà un funcionament en banda dual, serà utilitzat en el posterior disseny d'un divisor de potencia. Finalment es realitzarà la implementació física del divisor de potencia dissenyat i es verificarà el seu correcte funcionament amb les mesures pertinents.

Desfassador banda dual basat en híbrid multibanda per aplicacions wireless

El primer objectiu del projecte és l’estudi i disseny d’un desfassador bi – banda reconfigurable per integrar en sistemes d’antenes intel·ligents i amb aplicació a sistemes dual band WLAN operant en els marges freqüencials 2.4 - 2.5 GHz i 5.15 – 5.35GHz. El desfassador que es proposa realitzar està basat en un acoblador híbrid multibanda, diplexors i circuits reconfigurables commutats amb díodes PIN. El segon objectiu del projecte és l’aprenentatge de la metodologia de disseny de circuits d’RF i més concretament les següents etapes: estudi i disseny teòric (analític), simulació circuital (ADS), simulació electromagnètica (Momentum), cosimulació circuital-electromagnètica i fabricació, així com les diferents interacions i mecanismes d’optimització entre aquestes etapes.

Privatization and competition in the delivery of local services: An empirical examination of the dual market hypothesis

This paper empirically analyses the hypothesis of the existence of a dual market for contracts in local services. Large firms that operate on a national basis control the contracts for delivery in the most populated and/or urban municipalities, whereas small firms that operate at a local level have the contracts in the least populated and/or rural municipalities. The dual market implies the high concentration and dominance of major firms in large municipalities, and local monopolies in the smaller ones. This market structure is harmful to competition for the market as the effective number of competitors is low across all municipalities. Thus, it damages the likelihood of obtaining cost savings from privatization.

A theoretical and practical study on linear reforms of dual taxes

We extend the linear reforms introduced by Pf¨ahler (1984) to the case of dual taxes. We study the relative effect that linear dual tax cuts have on the inequality of income distribution -a symmetrical study can be made for dual linear tax hikes-. We also introduce measures of the degree of progressivity for dual taxes and show that they can be connected to the Lorenz dominance criterion. Additionally, we study the tax liability elasticity of each of the reforms proposed. Finally, by means of a microsimulation model and a considerably large data set of taxpayers drawn from 2004 Spanish Income Tax Return population, 1) we compare different yield-equivalent tax cuts applied to the Spanish dual income tax and 2) we investigate how much income redistribution the dual tax reform (Act ‘35/2006’) introduced with respect to the previous tax.

Pathology and immune response of the blue mussel (Mytilus edulis L.) after an exposure to the harmful dinoflagellate Prorocentrum minimum

The harmful dinoflagellate Prorocentrum minimum has different effects upon various species of grazing bivalves, and these effects also vary with life-history stage. Possible effects of this dinoflagellate upon mussels have not been reported; therefore, experiments exposing adult blue mussels, Mytilus edulis, to P. minimum were conducted. Mussels were exposed to cultures of toxic P. minimum or benign Rhodomonas sp. in glass aquaria. After a short period of acclimation, samples were collected on day 0 (before the exposure) and after 3, 6, and 9 days of continuous-exposure experiment. Hemolymph was extracted for flow-cytometric analyses of hemocyte, immune-response functions, and soft tissues were excised for histopathology. Mussels responded to P. minimum exposure with diapedesis of hemocytes into the intestine, presumably to isolate P. minimum cells within the gut, thereby minimizing damage to other tissues. This immune response appeared to have been sustained throughout the 9-day exposure period, as circulating hemocytes retained hematological and functional properties. Bacteria proliferated in the intestines of the P. minimum-exposed mussels. Hemocytes within the intestine appeared to be either overwhelmed by the large number of bacteria or fully occupied in the encapsulating response to P. minimum cells; when hemocytes reached the intestine lumina, they underwent apoptosis and bacterial degradation. This experiment demonstrated that M. edulis is affected by ingestion of toxic P. minimum; however, the specific responses observed in the blue mussel differed from those reported for other bivalve species. This finding highlights the need to study effects of HABs on different bivalve species, rather than inferring that results from one species reflect the exposure responses of all bivalves.

L’Evolució del vot dual a Catalunya

El principal valor afegit d’aquest treball rau en la troballa de que la valoració dels candidats a la presidència de la Generalitat és la variable que té més importància a l’hora d’explicar la propensió d’un català a emetre un vot dual. Així per exemple, i pel cas del vot dual PSC-CiU a finals dels vuitanta i principis dels noranta, els catalans que es decantaven per l’opció socialista a les eleccions generals i per la federació nacionalista als comicis autonòmics eren aquells que valoraven millor (pitjor) Jordi Pujol (Raimon Obiols). I a conclusions similars s’arriba si s’analitza aquesta mateixa modalitat de vot dual en altres punts del temps, o altres modalitats de vot dual. El treball s’estructura de la manera següent. En primer lloc, es defineix l’objecte d’estudi i les seves distintes modalitats. A continuació, s’ofereixen unes primeres dades de tipus descriptiu sobre el fenomen del vot dual a Catalunya. En els apartats següents, s’emmarquen teòricament les hipòtesis la validesa de les quals es busca comprovar a través dels models economètrics. La secció dedicada al disseny de la investigació serveix de preàmbul a l’anàlisi quantitativa de les causes del vot dual a Catalunya. Per últim, un breu apartat de conclusions recull les principals aportacions del treball, i aventura possibles línees d’investigació futures.

New pre-dual space of Morrey space

In this paper we give new characterization of the classical Morrey space. Complementary global Morrey-type spaces are introduced. It is proved that for particular values of parameters these spaces give new pre-dual space of the classical Morrey space. We also show that our new pre-dual space of the Morrey space coincides with known pre-dual spaces.

Estudio y diseño de filtros pasobanda y en banda dual basados en resonadores microstrip open-loop acoplados

El proyecto está dedicado al estudio y diseño de filtros paso-banda y en banda dual con tecnología microstrip mediante estructuras resonantes de tipo open-loop. Se ha llevado a cabo el diseño de un filtro paso-banda con respuesta Chebyshev, un filtro pasobanda con ceros de transmisión y un filtro de banda dual para WCDMA y WiFi, empleado el método de diseño para filtros basados en resonadores inter-acoplados. Se presentan los modelos eléctricos de los filtros de RF simulados junto con sus respectivos layouts y se comparan las respuestas obtenidas de los dispositivos con las respuestas ideales. En el proyecto se realiza un estudio del comportamiento de los diferentes tipos de acoplamiento entre resonadores open-loop en función de la geometría de la estructura. Las tendencias de comportamiento de los acoplamientos permiten el diseño y colocación de los resonadores para satisfacer las especificaciones del filtro.

Productivity Growth during the English Industrial Revolution: A Dual Approach

This paper presents new estimates of total factor productivity growth in Britain for the period 1770-1860. We use a dual technique recently popularized by Hsieh (1999), and argue that the estimates we derive from factor prices are of similar quality to quantity-based calculations. Our results provide further evidence, derived from this independent set of sources, that productivity growth during the British Industrial Revolution was relatively slow. During the years 1770-1800, TFP growth was close to zero, according to our estimates. The period 1800-1830 experienced an acceleration of productivity growth. The Crafts-Harley view of the Industrial Revolution is thus reinforced. We also consider alternative explanations of slow productivity growth, and reject the interpretation that focuses on the introduction of steam as a general purpose technology.

Restless bandits, linear programming relaxations and a primal-dual index heuristic

We develop a mathematical programming approach for the classicalPSPACE - hard restless bandit problem in stochastic optimization.We introduce a hierarchy of n (where n is the number of bandits)increasingly stronger linear programming relaxations, the lastof which is exact and corresponds to the (exponential size)formulation of the problem as a Markov decision chain, while theother relaxations provide bounds and are efficiently computed. Wealso propose a priority-index heuristic scheduling policy fromthe solution to the first-order relaxation, where the indices aredefined in terms of optimal dual variables. In this way wepropose a policy and a suboptimality guarantee. We report resultsof computational experiments that suggest that the proposedheuristic policy is nearly optimal. Moreover, the second-orderrelaxation is found to provide strong bounds on the optimalvalue.

A note on the dual scaling of dominance data and its relationship to correspondence analysis

Dual scaling of a subjects-by-objects table of dominance data (preferences,paired comparisons and successive categories data) has been contrasted with correspondence analysis, as if the two techniques were somehow different. In this note we show that dual scaling of dominance data is equivalent to the correspondence analysis of a table which is doubled with respect to subjects. We also show that the results of both methods can be recovered from a principal components analysis of the undoubled dominance table which is centred with respect to subject means.

Voto dual y abstención diferencial. Un estudio sobre el comportamiento electoral en Cataluña

En este trabajo se presentan los resultados de un estudio empírico sobre los motivos del cambio sistemático de resultados electorales que se da en Cataluña según el ámbito de la convocatoria electoral de que se trate. La hipótesis, contrastada positivamente con datos del período 1982-1993, es que la victoria del partido nacionalista de centro derecha en las elecciones autonómicas en un territorio donde vencen siempre los socialistas en las elecciones legislativas se debe a la combinación de los fenómenos del voto dual y del abstencionismo diferencial. La aproximación metodológica de la elección racional permite construir grupos de electores que tienen distintas percepciones del espacio en el que se dirime la competición política, hecho que les induce a un comportamiento electoral diferenciado. Combinando estos resultados con los obtenidos del análisis con datos socioestructurales agregados, se establece un cierto perfil de los votantes duales y de los abstencionistas diferenciales. Finalmente, se realiza una interpretación de los resultados de las elecciones catalanas de 1995 y 1999 a la luz de los resultados de este estudio.This article presents the results of an empirical study about the reasons of the systematic change in the electoral results in Catalonia according to the type of elections. The hypothesis, positively tested with data from the period 1982-1993, is that the victory of the nationalist centre-right party in the autonomous elections in a region where always wins the socialist party in general elections, is due to the combination of the dual vote and differential abstention phenomena. The rational choice methodological approach allow to construct groups of electors with different perceptions about the space in which the political race takes place, fact that induces them different electoral behaviour. In combining these results with those obtained from the analysis with aggregated social and structural data, it is defined a certain the profile of the dual voters and the differential non-voters. Finally, it is given an interpretation of the Catalan election results in 1995 and 1999 using as a clue the results of this study.

Conditional BDNF release under pathological conditions improves Huntington's disease pathology by delaying neuronal dysfunction

Background Brain-Derived Neurotrophic Factor (BDNF) is the main candidate for neuroprotective therapy for Huntington's disease (HD), but its conditional administration is one of its most challenging problems. Results Here we used transgenic mice that over-express BDNF under the control of the Glial Fibrillary Acidic Protein (GFAP) promoter (pGFAP-BDNF mice) to test whether up-regulation and release of BDNF, dependent on astrogliosis, could be protective in HD. Thus, we cross-mated pGFAP-BDNF mice with R6/2 mice to generate a double-mutant mouse with mutant huntingtin protein and with a conditional over-expression of BDNF, only under pathological conditions. In these R6/2:pGFAP-BDNF animals, the decrease in striatal BDNF levels induced by mutant huntingtin was prevented in comparison to R6/2 animals at 12 weeks of age. The recovery of the neurotrophin levels in R6/2:pGFAP-BDNF mice correlated with an improvement in several motor coordination tasks and with a significant delay in anxiety and clasping alterations. Therefore, we next examined a possible improvement in cortico-striatal connectivity in R62:pGFAP-BDNF mice. Interestingly, we found that the over-expression of BDNF prevented the decrease of cortico-striatal presynaptic (VGLUT1) and postsynaptic (PSD-95) markers in the R6/2:pGFAP-BDNF striatum. Electrophysiological studies also showed that basal synaptic transmission and synaptic fatigue both improved in R6/2:pGAP-BDNF mice. Conclusions These results indicate that the conditional administration of BDNF under the GFAP promoter could become a therapeutic strategy for HD due to its positive effects on synaptic plasticity.