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Public procurement processes can be permeated by acts of corruption that can distort efficient allocation mechanisms. In this sense, the objective of this article is to make an approximation to the current legislation in Colombia, to the theory of auctions and to the theory of corruption. The...
Persistent link: https://www.econbiz.de/10015212189
This paper shows one type of asymmetric information problems, their theoretical implications, the design of contracts that mitigate them, as well as some experimental evidence. Furthermore, by extrapolating the results, the paper tries to illustrate certain macroeconomic implications obtained...
Persistent link: https://www.econbiz.de/10005817010
Some recent articles debate the implications of the results of experimental economics. It is claimed by some that these results challenge the assumptions of expected utility theory. Others deny this. Both sides presume that the assumptions of rationality or expected utility-maximization are...
Persistent link: https://www.econbiz.de/10005697816
Spanish Abstract: El artículo presenta una revisión de los experimentos realizados sobre bienes públicos apoyados en el mecanismo de contribución voluntaria. La evidencia empírica existente muestra que los individuos no son solo los seres egoístas y competitivos que supone la teoría...
Persistent link: https://www.econbiz.de/10013023782
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Time series of obligations with the public are important to liquidity risk management in emerging economies, but a traditional parametric VaR model could give imprecise measures of liquidity risk if the series do not approach a normal (Gaussian) distribution. To overcome this flaw of parametric...
Persistent link: https://www.econbiz.de/10015216271
This paper consists of the application of the Hierarchical lineal model (multilevel methodology) which takes in consideration the interaction between individual and aggregated variables. It is intented to measure eterminants of student performance in their last year of school in three...
Persistent link: https://www.econbiz.de/10015232023
The presence of seasonal fluctuations (regular behavior along the year related to weather or institutional factors) invalidates monthly (quarterly) comparisons. In turn, since inter-annual variations depend on the comparison basis being used, they could provide very little information to the...
Persistent link: https://www.econbiz.de/10010325094
In the present decade, in emerging economies such as those in Latin-America, mixed logistic models have been started applying to predict the financial failure of companies. However, there are limitations for the methodology linked to the feasibility of predicting the state of new companies that...
Persistent link: https://www.econbiz.de/10011994994