Allocative and productive efficiency in REE with asymetric information

We characterize the divergence between informational and economic efficiency in a rational expectations competitive market with asymmetric information about the costs of production. We find that prices may contain too much or too little information with respect to incentive efficient allocations depending on whether the main role of the price is, respectively, the traditional as index of scarcity or informational. Only when REE degenerate to Cournot equilibria the market solution does not show llocative inefficiency. With multidimensional uncertainty we find that the REE price does not have in general the incentive efficient information mix: It pays to sacrifice allocative efficiency at the REE to improve productive efficiency.

Mythological Information

Combined media on photographic paper. 65" x 56" Private Collection

Information networks and worker recruitment

This paper studies experimentally how the existence of social information networks affects the ways in which firms recruit new personnel. Through such networks firms learn about prospective employees' performance in previous jobs. Assuming individualistic preferences social networks are predicted not to affect overall labor market behavior, while with social preferences the prediction is that when bilaterally negotiated: (i) wages will be higher and (ii) that workers in jobs with incomplete contracts will respond with higher effort. Our experimental results are consistent with the social preferences view, both for the case of excess demand and excess supply of labor. In particular, the presence of information networks leads to more efficient allocations.

Documentation and sport information: the challenges and opportunities brought by new technologies

This text corresponds to the contents of the seminar “Information Services at the Sport Institutions” held by the author as part of the programme of activities of the Invited Professor of Olympism of the International Chair in Olympism (IOC-UAB) in 2001. The seminar discusses the potential of technologies such as the Internet in sports documentation.

The Olympic Movement and Information Society: New Internet Challenges and Opportunities

Article describing the current situation of the Internet, the use of Internet by sport institutions, and the relationship between the Internet and the Olympic Games, and the Olympic Movement. This paper was presented at the International Symposium on Television in the Olympic Games held in Lausanne in October 1998.

Transforming scientific information with everyday thinking: A social representations perspective

Cette thèse examine la circulation et l'intégration des informations scientifiques dans la pensée quotidienne d'après la théorie des représentations sociales (TRS). En tant qu'alternative aux approches traditionnelles de la communication de la science, les transformations survenant entre le discours scientifique et le discours de sens commun sont considérées comme adaptatives. Deux études sur la circulation des informations dans les media (études 1 et 2) montrent des variations dans les thèmes de discours exposés aux profanes, et parmi les discours de ceux-ci, en fonction de différentes sources. Ensuite, le processus d'ancrage dans le positionnement préalable envers la science est étudié, pour l'explication qu'il fournit de la réception et de la transmission d'informations scientifiques dans le sens commun. Les effets d'ancrage dans les attitudes et croyances préexistants sont reportés dans différents contextes de circulation des informations scientifiques (études 3 à 7), incluant des études de type corrélationnel, experimental et de terrain. Globalement, cette thèse procure des arguments en faveur de la pertinence de la TRS pour la recherche sur la communication de la science, et suggère des développements théoriques et méthodologiques pour ces deux domaines de recherche. Drawing on the social representations theory (SRT), this thesis examines the circulation and integration of scientific information into everyday thinking. As an alternative to the traditional approaches of science communication, it considers transformations between scientific and common-sense discourses as adaptive. Two studies, focused on the spreading of information into the media (Studies 1 and 2), show variations in the themes of discourses introduced to laypersons and in the themes among laypersons' discourses, according to different sources. Anchoring in prior positioning toward science is then studied for the explanation it provides on the reception and transmission of scientific information into common sense. Anchoring effects in prior attitudes and beliefs are reported in different contexts of circulation of scientific information (Studies 3 to 7) by using results from correlational, field, and experimental studies. Overall, this thesis provides arguments for the relevance of SRT in science communication research and suggests theoretical and methodological developments for both domains of research.

Co-movements between US and UK stock prices: the roles of macroeconomic information and time-series varying conditional correlations

This paper provides evidence on the sources of co-movement in monthly US and UK stock price movements by investigating the role of macroeconomic and financial variables in a bivariate system with time-varying conditional correlations. Crosscountry communality in response is uncovered, with changes in the US Federal Funds rate, UK bond yields and oil prices having similar negative effects in both markets. Other variables also play a role, especially for the UK market. These effects do not, however, explain the marked increase in cross-market correlations observed from around 2000, which we attribute to time variation in the correlations of shocks to these markets. A regime-switching smooth transition model captures this time variation well and shows the correlations increase dramatically around 1999-2000. JEL classifications: C32, C51, G15 Keywords: international stock returns, DCC-GARCH model, smooth transition conditional correlation GARCH model, model evaluation.

Using information from telephone panel surveys to predict reasons for refusal

One of the key problems in conducting surveys is convincing people to participate.¦However, it is often difficult or impossible to determine why people refuse. Panel surveys¦provide information from previous waves that can offer valuable clues as to why people¦refuse to participate. If we are able to anticipate the reasons for refusal, then we¦may be able to take appropriate measures to encourage potential respondents to participate¦in the survey. For example, special training could be provided for interviewers¦on how to convince potential participants to participate.¦This study examines different influences, as determined from the previous wave,¦on refusal reasons that were given by the respondents in the subsequent wave of the¦telephone Swiss Household Panel. These influences include socio-demography, social¦inclusion, answer quality, and interviewer assessment of question understanding and¦of future participation. Generally, coefficients are similar across reasons, and¦between-respondents effects rather than within-respondents effects are significant.¦While 'No interest' reasons are easier to predict, the other reasons are more situational. Survey-specific issues are able to distinguish¦different reasons to some extent.

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 follow-up study on the quality of alcohol dependence-related information on the web.

ABSTRACT: In order to evaluate the one-year evolution of web-based information on alcohol dependence, we re-assessed alcohol-related sites in July 2007 with the same evaluating tool that had been used to assess these sites in June 2006. Websites were assessed with a standardized form designed to rate sites on the basis of accountability, presentation, interactivity, readability, and content quality. The DISCERN scale was also used, which aimed to assist persons without content expertise in assessing the quality of written health publications. Scores were highly stable for all components of the form one year later (r = .77 to .95, p < .01). Analysis of variance for repeated measures showed no time effect, no interaction between time and scale, no interaction between time and group (affiliation categories), and no interaction between time, group, and scale. The study highlights lack of change of alcohol-dependence-related web pages across one year.

"MIATA"-minimal information about T cell assays.

Immunotherapy, especially therapeutic vaccination, has a great deal of potential in the treatment of cancer and certain infectious diseases such as HIV (Allison et al., 2006; Fauci et al., 2008; Feldmann and Steinman, 2005). Numerous vaccine candidates have been tested in patients with a variety of tumor types and chronic viral diseases. Often, the best way to assess the clinical potential of these vaccines is to monitor the induced T cell response, and yet there are currently no standards for reporting these results. This letter is an effort to address this problem.

Bargaining and Conflict with Incomplete Information

This paper studies bargaining and conflict under incomplete information, provides an overview and a critical account of the literature on the topic and contributes with original research. We first revise models of mechanism design and sequential bargaining that take confrontation as final. Conflict and inefficiencies are to be expected in these models whenever parties have optimistic prospects on the outcome of the all-out conflict. After examining the causes and reasons for this optimism, we move to the analysis of the recent literature that considers the existence of limited confrontations that allow bargaining to resume. In the presence of private information, these limited conflicts convey information and thus become a bargaining instrument. The paper closes with a discussion on the related empirical literature, the challenges that it faces and some potential avenues for further research.

Optimal contracting with private information on cost expectation and variability

We study the screening problem that arises in a framework where, initially, the agent is privately informed about both the expected production cost and the cost variability and, at a later stage, he learns privately the cost realization. The speci c set of relevant incentive constraints, and so the characteristics of the optimal mechanism, depend nely upon the curvature of the principal s marginal surplus function as well as the relative importance of the two initial information problems. Pooling of production levels is optimally induced with respect to the cost variability when the principal's knowledge imperfection about the latter is sufficiently less important than that about the expected cost.

The Effects of the European Emissions Trading Scheme (EU ETS) on Activity in the UK Continental Shelf (UKCS) and CO2 Leakage

NORTH SEA STUDY OCCASIONAL PAPER No. 115