We present a theoretical argument to identify the conditions under which a firm prefers to invest in factor saving innovations rather than neutral innovations. We prove that incentives to invest in factor saving innovations positively depend on i) total factor productivity and ii) the scarcity...

Spanish Abstract: Las ciudades de Colombia mantienen índices altos de delito a pesar del aumento del gasto en defensa y seguridad. Este trabajo propone y analiza la provisión de información como una estrategia de bajo costo que puede ser efectiva para la disuasión del crimen. Para mostrar su...

This paper studies a principal-agent model where a risk-neutral principal delegates to a risk-neutral agent the decision of whether to pursue a risky project or a safe one. The return from the risky project is unknown and the agent can acquire costly unobservable information about it before...

This paper analyses the effect of Covid-19 on health and economic indicators of Bogota, the capital of Colombia, and the responses of the local government to ease the economic shock. We highlight the importance of designing policies that adapt to the local context and complement the existing...

This paper models an entrepreneur's choice between investing in a safe activity or experimenting with a new risky one, and how much to invest in "entrepreneurial capital" that permits more effective use of arriving information on the latter - how much to learn how to learn. Optimal investment...