We study a coordination problem where agents act sequentially. Agents are embedded in anobservation network that allows them to observe the actions of their neighbors. We find thatcoordination failures do not occur if there exists a sufficiently large clique. Its existence isnecessary and...

While it has long been recognized that active management is an important issue in the area of mutual fund performance, little consensus has been reached about the value managers’ abilities can add. This study attempts to explore both fund and manager characteristics in order to understand...

This paper examines the celebrated "Strength of weak ties" theory of Granovetter(1973). We formalize the theory in terms of two hypotheses: one, for any threeplayers with two links present, the probability of a third link being present isincreasing in the strength of the two ties, and two, the...

I present and study an evolutionary model of immigration and culturaltransmission of social norms in a set-up where agents are repeatedly matchedto play a one-shot interaction prisoner´s dilemma. Matching can be non-randomdue to limited integration (or population viscosity). The latter refers...

This paper introduces &tao;-fairness as a compromise solution reconciling Pareto efficiency and equity in School Choice Problems. We show that, by considering a weak notion of equity that we refer to as ¿-equity, it is possible to contribute positively to solve an open debate, originated by the...

As Roemer (1986) points out, things become more interesting once we include information. In this paper, following the line started by Jiménez-Gómez and Marco-Gil (2008), we define both a lower and an upper bounds on awards in the framework of the Lorenz-Bifocal Bankruptcy Problem (Gadea et al....

We expand upon the previous models of inequity aversion of Fehr and Schmidt (1999) and Frohlich, Oppenheimer and Kurki (2004), which assume that dictators get disutility if the final allocation of the surplus deviates from the equal split (egalitarian principle) or from the subjects’...

How should scholarships be distributed among the (public) higher education students? We raise thissituation as a redistribution problem. Following the approach developed in Fleurbaey (1994) andBossert (1995), redistribution should be based on the notion of solidarity and it re-allocates...

In a distribution problem, and specifically in bankruptcy issues, the Proportional (P) and theEgalitarian (EA) divisions are two of the most popular ways to resolve the conflict. TheConstrained Equal Awards rule (CEA) is introduced in bankruptcy literature to ensure that noagent receives more...

In this paper we use two different sets of Commonly Accepted Equity Principles to provide new characterizations of well known bankruptcy rules from an strategic viewpoint. In this sense, we extend the results obtained by Chun, 1989, and Herrero, 2003, who followed the van Damme's approach, 1986,...