Browsing by Author "Monteiro, P. K."
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Auctions with endogenous participation
Menezes, Flavio Marques; Monteiro, P. K.
2000We study endogenousparticipation 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.
2006We investigate how corruption affects the outcome of a firstprice 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; MartinsdaRocha, Victor Filipe
20031101We 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
HervésBeloso, Carlos; MartinsdaRocha, Victor Filipe; Monteiro, P. K.
20080228Radner (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.
20060901Em 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.
20031009We show that for a large class of competitive nonlinear pricing games with adverse selection, the property of betterreply security is naturally satisfied  thus, resolving via a result due to Reny (1999) the issue of ... 
Firstprice auction symmetric equilibria with a general distribution
Monteiro, P. K.
20060501In this paper I obtain the mixed strategy symmetric equilibria of the firstprice auction for any distribution. The equilibrium is unique. The solution turns out to be a combination of absolutely continuous distributions ... 
FirstPrice auction symmetric equlibria with a general distribution
Monteiro, P. K.
20040901In this paper I obtain the mixed strategy symmetric equilibria of the firstprice auction for any distribution. The equilibrium is unique. The solution turns out to be a combination of absolutely continuous distributions ... 
Firstprice auctions without affiliation
Monteiro, P. K.; Moreira, Humberto Ataíde
2006We give conditions for equilibrium existence in private value, symmetric, firstprice auctions without affiliation assumptions. © 2005 Elsevier B.V. All rights reserved. 
Full surplus extraction with dominant strategies
Monteiro, P. K.
20000601In 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
2011We 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.
199408This 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
199801We 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 expost endowments. 
Inconsequential arbitrage
Page Junior, Frank H.; Wooders, Myrna H.; Monteiro, P. K.
200012We introduce the concept of inconsequential arbitrage and, in the context of a model allowing shortsales and halflines 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
2000In 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
1996In 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 shoppingtime approach
Cysne, Rubens Penha; Maldonado, Wilfredo Fernando Leiva; Monteiro, P. K.
200512Our work is based on a heterogenous agent shoppingtime 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 shoppingtime aproach: (Forthcoming, Journal of Development Economics)
Cysne, Rubens Penha; Maldonado, Wilfredo Fernando Leiva; Monteiro, P. K.
20040901Our work is based on a simpliÖed heterogenousagent 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 sigmaalgebras
HervesBeloso, Carlos; Monteiro, P. K.
201310In 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 σalgebras
HervésBeloso, Carlos; Monteiro, P. K.
2013In 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 ...