Browsing by Author "Braido, Luís Henrique Bertolino"
Now showing items 1-20 of 21
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Adverse selection and risk aversion in capital markets
2011-12We generalize Boadway and Keen's model of adverse selection in capital markets to allow for risk aversion on the part of entrepreneurs. We use the new model to analyze two types of policies. We first consider policies that ... -
Dois ensaios em economia da saúde
2004-04-29We test for asymmetric information in health insurance by means of a special survey conducted in 1998 in Brazil. The distinct features of the database are twofold. First, it displays information on individual morbidity-an ... -
Endogenous borrowing constraints and default when markets are incomplete
2001-09-17Incomplete markets and non-default borrowing constraints increase the volatility of pricing kernels and are helpful when addressing assetpricing puzzles. However, ruling out default when markets are in complete is suboptimal. ... -
Ergodic Markov equilibrium with incomplete markets and short sales
2013This paper studies recursive exchange economies with short sales. Agents maximize discounted expected utility. The asset structure is general and includes real securities, infinite-lived stocks, options, and other derivatives. ... -
Evidence on the incentive optimality of share contracts
2002-02-21Ever since Adam Smith, economists have argued that share contracts do not provide proper incentives. This paper uses tenancy data from India to assess the existence of missing incentives in this classical example of moral ... -
Evidence on the relationship between incentives and exogenous risk
2002-09-26Theoretical models on moral hazard provide competing predictions on the incentive-risk relationship. These predictions are derived under the assumptions of homogeneous agents and exogenous risk. However, the existing ... -
Gender bias in intrahousehold allocation: evidence from an unintentional experiment
2012-05We use data from a Brazilian social program to investigate the existence of gender bias in intrahousehold allocations of resources. The program makes cash transfers to mothers and pregnant women in poor households. ... -
General equilibrium with endogenous securities and moral hazard
2005-07This paper studies a class of general equilibrium economies in which the individuals' endowments depend on privately observed effort choices and the financial markets are endogenous. The environment is modeled as a two-stage ... -
Monopoly rents in contestable markets
2015-05Random choices of prices and product characteristics can be used by a contestable monopolist to deter entry and fully extract the monopoly rent. We develop this idea in a model of Bertrand price competition. In equilibrium, ... -
Multiproduct price competition with heterogeneous consumers and nonconvex costs
2009-09-20This paper extends the oligopolistic model of price competition to environments with multiple goods, heterogeneous consumers, and arbitrary continuous cost functions. A Nash equilibrium in mixed strategies with an endogenous ... -
Options can induce risk taking for arbitrary preferences
2006-04It is widely believed that call options induce risk-taking behavior. However, Ross (2004) challenges this intuition by demonstrating the impossibility of inducing managers with arbitrary preferences to always act as if ... -
Output contingent securities and efficient investment by firms
2018We analyze competitive economies with risky investments. Unlike the classic Arrow-Debreu framing, firms and agents cannot contract upon the exogenous states underlying production risks. They can trade equities and any ... -
PET 16 - Abertura
2016-08-15Nos dias 11, 12 e 13 de julho a EPGE e a Association for Public Economic Theory organizaram o PET 16 que celebrou os 70 anos do Professor da EPGE, Aloisio Araujo. O evento contou com a presença de economistas como Hugo ... -
Pet 16 - Mesa Redonda sobre Privatization, Concessions and Economic Growth
2016-08-15Nos dias 11, 12 e 13 de julho a EPGE e a Association for Public Economic Theory organizaram o PET 16 que celebrou os 70 anos do Professor da EPGE, Aloisio Araujo. O evento contou com a presença de ecomistas como Hugo ... -
PET 16 - Palestra de abertura do Prof. Eric Maskin, Nobel em Economia de 2007
2016-08-15Nos dias 11, 12 e 13 de julho a EPGE e a Association for Public Economic Theory organizaram o PET 16 que celebrou os 70 anos do Professor da EPGE, Aloisio Araujo. O evento contou com a presença de economistas como Hugo ... -
PET 16 - Palestras dos Professores Paulo K. Monteiro e Marilda Sotomayor
2016-08-15Nos dias 11, 12 e 13 de julho a EPGE e a Association for Public Economic Theory organizaram o PET 16 que celebrou os 70 anos do Professor da EPGE, Aloisio Araujo. O evento contou com a presença de ecomistas como Hugo ... -
A theory of weekly specials
2004-11-04Multiproduct retailers facing similar costs and serving the same public commonly announce different weekly specials. These promotional prices also seem to evolve randomly over the weeks. Here, weekly specials are viewed ...
