Cost-Saving production technologies and strategic delegation

This work analyzes a managerial delegation model in which firms that produce a differentiated good can choose between two production technologies: a low marginal cost technology and a high marginal cost technology. For the former to be adopted more investment is needed than for the latter. By giving managers of firms an incentive scheme based on a linear combination of profit and sales revenue, we find that Bertrand competition provides a stronger incentive to adopt the cost-saving technology than the strict profit maximization case. However, the results may be reversed under Cournot competition. We show that if the degree of product substitutability is sufficiently low (high), the incentive to adopt the cost-saving technology is larger under strict profit maximization (strategic delegation).

La evolución de la intensidad energética de la industria vasca entre 1982-2001: Un análisis de descomposición

In this article an index decomposition methodology is used to estimate the effect of intersectorial and intrasectorial changes in explaining the 38% reduction in industrial energy intensity in the Basque Autonomous Community from 1982 to 2001. Period-wise additive decomposition results show that (1) the decline is fully explained by intrasectorial changes and that (2) intersectorial changes have not contributed to reduce but to increase the energy intensity of the Basque industrial sector. However, timeseries decomposition analysis shows that (1) four different phases can be distinguished in the evolution of energy intensity of the Basque industry from 1982 to 2001 and (2) that the evolution of the “Iron and Steel” sector is determinant when explaining those phases. Moreover, the analysis stresses the necessity to disaggregate the “Iron and Steel” sector in order to be able to distinguish purely technological effects from the rest of intrasectorial changes.

An Approach to the stability of international environmental agreements: the absorbing sets solution

We study international environmental negotiations when agreements between countries can not be binding. A problem with this kind of negotiations is that countries have incentives for free-riding from such agreements. We develope a notion of equilibrium based on the assumption that countries can create and dissolve agreements in their seeking of a larger welfare. This approach leads to a larger degree of cooperation compared to models based on the internal-external stability approach.

Profit and Cost in "Modern" Post-Marxian Profit Theory: A Case Study from Varian's "Intermediate Microeconomics"

In this paper, I examine the treatment of competitive profit of professor Varian in his textbook on Microeconomics, as a representative of the “modern” post-Marxian view on competitive profit. I show how, on the one hand, Varian defines profit as the surplus of revenues over cost and, thus, as a part of the value of commodities that is not any cost. On the other hand, however, Varian defines profit as a cost, namely, as the opportunity cost of capital, so that, in competitive conditions, the profit or income of capital is determined by the opportunity cost of capital. I argue that this second definition contradicts the first and that it is based on an incoherent conception of opportunity cost.

The Supercore for Normal Form Games

We study the supercore of a system derived from a normal form game. For the case of a finite game with pure strategies, we define a sequence of games and show that the supercore of that system coincides with the set of Nash equilibrium strategy profiles of the last game in the sequence. This result is illustrated with the characterization of the supercore for the n-person prisoners’ dilemma. With regard to the mixed extension of a normal form game, we show that the set of Nash equilibrium profiles coincides with the supercore for games with a finite number of Nash equilibria. For games with an infinite number of Nash equilibria this need not be no longer the case. Yet, it is not difficult to find a binary relation which guarantees the coincidence of these two sets.

A Model of Evolutionay Drift

Drift appears to be crucial to study the stability properties of Nash equilibria in a component specifying different out-of-equilibrium behaviour. We propose a new microeconomic model of drift to be added to the learning process by which agents find their way to equilibrium. A key feature of the model is the sensitivity of the noisy agent to the proportion of agents in his player population playing the same strategy as his current one. We show that, 1. Perturbed Payoff-Positive and PayoffMonotone selection dynamics are capable of stabilizing pure non strict Nash equilibria in either singleton or nonsingleton component of equilibria; 2. The model is relevant to understand the role of drift in the behaviour observed in the laboratory for the Ultimatum Game and for predicting outcomes that can be experimentally tested. Hence, the selection dynamics model perturbed with the proposed drift may be seen as well as a new learning tool to understand observed behaviour.

Egalitarian distributions in coalitional models: The Lorenz criterion

The paper presents a framework where the most important single-valued solutions in the literature of TU games are jointly analyzed. The paper also suggests that similar frameworks may be useful for other coalitional models.

Privatización de pensiones y provisión de garantías: una exploración del caso español

Los sistemas de pensiones públicas de reparto con prestación definida a lo largo del mundo se están convirtiendo a planes de aportación definida capitalizados, donde los agentes eligen sus carteras de acciones y bonos. A fin de hacer más atractivas al público estas reformas, los gobiernos típicamente han proporcionado garantías que reducen la exposición de los individuos a los riesgos de inversión, por ejemplo, una garantía de prestación mínima. En este trabajo se analiza una conversión hipotética del actual sistema español de reparto a un modelo de estas características. El valor de la garantía de prestación mínima se aproxima utilizando datos representativos de la situación española. Con objeto de controlar el coste de esta garantía, se exploran algunas técnicas de gestión de riesgos. La práctica más común, a saber, la sobrecapitalización, es bastante ineficaz. Precisamente por ello, después se presentan dos alternativas: (a) una garantía sobre una cartera estandarizada, y (b) un impuesto contingente (dependiente del estado de la naturaleza) sobre los rendimientos. Los cálculos indican que los compromisos no capitalizados pueden reducirse significativamente, e incluso por completo, bajo ambos enfoques, con tasas de aportación relativamente modestas.

Income risk of EU coal-fired power plants after Kyoto

Coal-fired power plants may enjoy a significant advantage relative to gas plants in terms of cheaper fuel cost. Still, this advantage may erode or even turn into disadvantage depending on CO2 emission allowance price. This price will presumably rise in both the Kyoto Protocol commitment period (2008-2012) and the first post-Kyoto years. Thus, in a carbon-constrained environment, coal plants face financial risks arising in their profit margins, which in turn hinge on their so-called "clean dark spread". These risks are further reinforced when the price of the output electricity is determined by natural gas-fired plants' marginal costs, which differ from coal plants' costs. We aim to assess the risks in coal plants' margins. We adopt parameter values estimated from empirical data. These in turn are derived from natural gas and electricity markets alongside the EU ETS market where emission allowances are traded. Monte Carlo simulation allows to compute the expected value and risk profile of coal-based electricity generation. We focus on the clean dark spread in both time periods under different future scenarios in the allowance market. Specifically, bottom 5% and 10% percentiles are derived. According to our results, certain future paths of the allowance price may impose significant risks on the clean dark spread obtained by coal plants.

El desarrollo psicosocial

[Es] Esta línea de investigación integra dos perspectivas de aproximación a una temática de gran amplitud y complejidad como es la del desarrollo psicosocial humano, máxime teniendo en cuenta que se presta además una atención específica a la función que en dicho desarrollo cumple la mediación educativa. Obviamente el desarrollo personal y social de cada individuo admite otros muchos abordajes pero los aquí presentados son muy importantes. Se considera, en primer lugar, la incidencia que tienen las interacciones sociales producidas en el proceso de construcción del conocimiento sobre el desarrollo psicosocial. Y, en segundo lugar, se incide en el papel decisivo que los modos de entender la vida juegan en los procesos de sociopersonalización.

Joan Robinson Was Almost Right: Output under Third-Degree Price Discrimination

In this paper, we show that in order for third-degree price discrimination to increase total output, the demands of the strong markets should be, as conjectured by Robinson (1933), more concave than the demands of the weak markets. By making the distinction between adjusted concavity of the inverse demand and adjusted concavity of the direct demand, we are able to state necessary conditions and sufficient conditions for third-degree price discrimination to increase total output.

La investigación naturalista e interpretativa desde la actividad física y el deporte

[Es]Desde este artículo se revisan diversos estudios de investigación relativos a la sublínea de formación del profesorado de educación física y deportiva, así como a la intervención docente en esta área de conocimientos. Esta sublínea se enmarca en la línea de Actividad Física y Deportes en el área de Didáctica de la Expresión Corporal. En este caso, se incluyen estudios de carácter naturalista e interpretativo, con la intención de que las personas que investigan y sus protagonistas formen parte activa en el propio proceso investigador (Bodgan y Biklen, 1982; Colás y Buendía, 1992; Goetz y Lecompte, 1988; Vázquez y Angulo, 2003). La formación del profesorado de educación física y la actividad didáctica de dicha materia, se convierten en los contenidos que concretan el proceso de la investigación. Para ello, es preciso revisar las temáticas relacionadas con: la formación inicial y permanente, planes y programas de estudio, contenidos que se enseñan y aprenden en la actividad física escolar (dentro y fuera del horario lectivo), la presencia de los valores, los diferentes elementos que constituyen los diseños curriculares, así como todo, aquello que convierte a esta disciplina en una destacada propuesta formativa y de socialización.

Monopoly Price Discrimination and Demand Curvature

Published as an article in: American Economic Review, 2010, vol. 100, issue 4, pages 1601-15.

Nuevas tecnologías e innovación educativa

[Es]Gran parte de la investigación sobre las Tecnologías de la Información y Comunicación (TICs) se ha centrado exclusivamente en la eficacia para alcanzar los objetivos tradicionales del aprendizaje, sin fesarrollar perspectivas o líneas de trabajo con tecnologías que sirvan para promover la creatividad, expresión personal y aprender a aprender, apoyando las capacidades de creatividad y pensamiento crítico. En este artículo se proponen objetivos,metodologías y temáticas de estudio en esta segunda dirección.

Factors Facilitating Successful Educational Innovation with ICT in Schools

[EN]This paper proposes an approach to the concept of ICT-based innovation in schools, from the perspective of the factors that facilitate the innovative use of ICT. To this end, a scale has been developed and validated to identify these factors through the participation of 195 teachers from 16 schools considered by the Basque educational authorities as innovators in ICT. The results obtained attest to the validity and reliability of both the scale and the 5 key factors that influence innovation in technology-based teaching. This factor-based structure enables a holistic view of ICT innovation in schools across 3 key areas: school context, teachers and the education authorities.