Now showing items 1-20 of 47

    • Auctions with endogenous participation 

      Menezes, Flavio Marques; Monteiro, P. K.
      2000
      We study endogenous-participation auctions where bidders only know the number of potential participants. After seeing their values for the object, potential participants decide whether or not to enter the auction. They may ...
    • Corruption and auctions 

      Menezes, Flavio Marques; Monteiro, P. K.
      2006
      We investigate how corruption affects the outcome of a first-price auction (bidding behavior, efficiency and the seller's expected revenue). The auctioneer approaches the winner to offer the possibility of a reduction in ...
    • Equilibria in security markets with a continuum of agents 

      Monteiro, P. K.; Araújo, Aloísio Pessoa de; Martins-da-Rocha, Victor Filipe
      2003-11-01
      We prove the existence of a competitive equilibrium for exchange economies with a measure space of agents and for which the commodity space is ` p, 1 < p < +∞. A vector x = (xn) in ` p may be interpreted as a security which ...
    • Equilibrium theory with asymmetric information and infinitely many states 

      Hervés-Beloso, Carlos; Martins-da-Rocha, Victor Filipe; Monteiro, P. K.
      2008-02-28
      Radner (1968) proved the existence of a competitive equilibrium for differential information economies with finitely many states. We extend this result to economies with infinitely many states of nature.
    • Exclusão e multidimensionalidade de tipos em leilões ótimos 

      Svaiter, Benar Fux; Monteiro, P. K.; Page Junior, Frank H.
      2006-09-01
      Em um modelo de leil˜oes com valores privados independentes demonstramos que se os tipos s˜ao multidimensionais ent˜ao no leil˜ao ´otimo h´a exclus˜ao de tipos.
    • Existence of nash equilibrium in competitive nonlinear pricing games with adverse selection 

      Monteiro, P. K.
      2003-10-09
      We show that for a large class of competitive nonlinear pricing games with adverse selection, the property of better-reply security is naturally satisfied - thus, resolving via a result due to Reny (1999) the issue of ...
    • First-price auction symmetric equilibria with a general distribution 

      Monteiro, P. K.
      2006-05-01
      In this paper I obtain the mixed strategy symmetric equilibria of the first-price auction for any distribution. The equilibrium is unique. The solution turns out to be a combination of absolutely continuous distributions ...
    • First-Price auction symmetric equlibria with a general distribution 

      Monteiro, P. K.
      2004-09-01
      In this paper I obtain the mixed strategy symmetric equilibria of the first-price auction for any distribution. The equilibrium is unique. The solution turns out to be a combination of absolutely continuous distributions ...
    • First-price auctions without affiliation 

      Monteiro, P. K.; Moreira, Humberto Ataíde
      2006
      We give conditions for equilibrium existence in private value, symmetric, first-price auctions without affiliation assumptions. © 2005 Elsevier B.V. All rights reserved.
    • Full surplus extraction with dominant strategies 

      Monteiro, P. K.
      2000-06-01
      In this note I consider the fuI! surplus extraction in an auction with private but possibly correlated values. I show that fuI! extraction in the continuum of types case is not possible in general. Neither is approximate ...
    • Games with discontinuous payoffs: A strengthening of Reny's existence theorem 

      McLennan, Andrew; Monteiro, P. K.; Tourky, Rabee
      2011
      We provide a pure Nash equilibrium existence theorem for games with discontinuous payoffs whose hypotheses are in a number of ways weaker than those of the theorem of Reny (1999). In comparison with Reny's argument, our ...
    • The general existence of extended price equilibria with infinitely many commodities 

      Araújo, Aloísio Pessoa de; Monteiro, P. K.
      1994-08
      This paper deals with the existence of equilibria with infinitely many goods. Its main goal is to show that when restricted to the set of feasible allocations there exists an economically meaningful price (in the sense ...
    • Incomplete markets, continuum of states and default 

      Araújo, Aloísio Pessoa de; Monteiro, P. K.; Pascoa, Mario Rui
      1998-01
      We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.
    • Inconsequential arbitrage 

      Page Junior, Frank H.; Wooders, Myrna H.; Monteiro, P. K.
      2000-12
      We introduce the concept of inconsequential arbitrage and, in the context of a model allowing short-sales and half-lines in indifference surfaces, prove that inconsequential arbitrage is sufficient for existence of ...
    • Increasing cones, recession cones and global cones 

      Monteiro, P. K.; Page Junior, Frank H.; Wooders, Myrna Holtz
      2000
      In this paper, we discuss and compare various cones used in the economics literature to analyze arbitrage in general equilibrium models with short selling. Our main result is that under certain conditions on an economic ...
    • Infinite horizon incomplete markets with a continuum of states 

      Araújo, Aloísio Pessoa de; Monteiro, P. K.; Pascoa, Mario Rui
      1996
      In this paper we address existence of equilibria in an incomplete markets economy with countably many periods and a continuum of states at each node of the infinite tree. We consider two models: one where agents have to ...
    • Inflation and income inequality: a shopping-time approach 

      Cysne, Rubens Penha; Maldonado, Wilfredo Fernando Leiva; Monteiro, P. K.
      2005-12
      Our work is based on a heterogenous agent shopping-time economy in which economic agents present distinct productivities in the production of the consumption good, and differentiated access to transacting assets. The purpose ...
    • Inflation and income inequality: a shopping-time aproach: (Forthcoming, Journal of Development Economics) 

      Cysne, Rubens Penha; Maldonado, Wilfredo Fernando Leiva; Monteiro, P. K.
      2004-09-01
      Our work is based on a simpliÖed heterogenous-agent shoppingtime economy in which economic agents present distinct productivities in the production of the consumption good, and di§erentiated access to transacting assets. ...
    • Information and sigma-algebras 

      Herves-Beloso, Carlos; Monteiro, P. K.
      2013-10
      In this work, we clarify the relationship between the information that an agent receives from a signal, from an experiment or from his own ability to determine the true state of nature that occurs and the information that ...
    • Information and σ-algebras 

      Hervés-Beloso, Carlos; Monteiro, P. K.
      2013
      In this work, we clarify the relationship between the information that an agent receives from a signal, from an experiment or from his own ability to determine the true state of nature that occurs and the information that ...