Now showing items 1-20 of 21

    • Adverse selection and risk aversion in capital markets 

      Braido, Luís Henrique Bertolino; Costa, Carlos E. da; Dahlby, Bev
      2011-12
      We 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 ...
    • Análise: política privilegia poucos grupos à custa dos consumidores 

      Braido, Luís Henrique Bertolino
      2012-11-05
    • Dois ensaios em economia da saúde 

      Lins, Genaro Dueire; Braido, Luís Henrique Bertolino
      2004-04-29
      We 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 

      Braido, Luís Henrique Bertolino
      2001-09-17
      Incomplete 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 

      Braido, Luís Henrique Bertolino
      2013
      This 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 

      Braido, Luís Henrique Bertolino
      2002-02-21
      Ever 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 

      Braido, Luís Henrique Bertolino
      2002-09-26
      Theoretical 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 

      Braido, Luís Henrique Bertolino; Olinto, Pedro; Perrone, Helena
      2012-05
      We 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 

      Braido, Luís Henrique Bertolino
      2005-07
      This 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 

      Braido, Luís Henrique Bertolino; Shalders, Felipe Leon Peres Camargo
      2015-05
      Random 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 

      Braido, Luís Henrique Bertolino
      2009-09-20
      This 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 ...
    • “Nobel-Prize Laureate Eric Maskin Visit to FGV EPGE in 2016” 

      Cysne, Rubens Penha; Moreira, Humberto; Araújo, Aloísio Pessoa de; Braido, Luís Henrique Bertolino
      2019-05-23
    • Options can induce risk taking for arbitrary preferences 

      Braido, Luís Henrique Bertolino; Ferreira, Daniel
      2006-04
      It 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 

      Braido, Luís Henrique Bertolino; Martins-da-Rocha, Victor Filipe
      2018
      We 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 

      Araújo, Aloísio Pessoa de; Maskin, Eric; Cysne, Rubens Penha; Braido, Luís Henrique Bertolino; Moreira, Humberto Ataíde; Leal, Carlos Ivan Simonsen
      2016-08-15
      Nos 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 

      Araújo, Aloísio Pessoa de; Hopenhaym, Hugo; Moreira, Humberto Ataíde; Braido, Luís Henrique Bertolino; Leal, Carlos Ivan Simonsen
      2016-08-15
      Nos 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 

      Araújo, Aloísio Pessoa de; Braido, Luís Henrique Bertolino; Cysne, Rubens Penha; Moreira, Humberto Ataíde; Leal, Carlos Ivan Simonsen
      2016-08-15
      Nos 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 

      Araújo, Aloísio Pessoa de; Maskin, Eric; Braido, Luís Henrique Bertolino; Leal, Carlos Ivan Simonsen
      2016-08-15
      Nos 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 

      Braido, Luís Henrique Bertolino
      2004-11-04
      Multiproduct 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 ...