Entropic system of daily mobility in a Metropolitan Area of Bogota, Colombia.

The fundamental diseconomy in the large metropolitan areas is the significant and sustained increase in travel time incurred by its inhabitants daily. Since a portion of the energy consumed in the daily mobility does not necessarily translate into individual and collective wealth, entropic systems have a feature which, as discussed for the case of Bogotá, does not have metropolitan institutions with the ability to redirect.

Testing the law of one price in food markets: evidence for Colombia using disaggregated data

This paper applies stationarity tests to examine evidence of market integration for a relatively large sample of food products in Colombia. We Önd little support for market integration when using the univariate KPSS tests for stationarity. However, within a panel context and after allowing for cross sectional dependence, the Hadri tests provide much more evidence supporting the view that food markets are integrated or, in other words, that the law of one price holds for most products.