El objetivo de este artículo es ligar la obra de Veblen sobre economía evolutiva con el enfoque de la recientemente desarrollada teoría de juegos evolutivos (TJE). Este es el primer paso en la incorporación de la teoría de evolución socioeconómica de Veblen en la discusión sobre la...

Why does an altruistically inclined player behave altruistically in some contexts and egoistically or spitefully in others? This article provides an economic explanation to this question. The basic argument is centered on the idea that social norms shape our preferences through a process of...

We put forward an optimal bidding mechanism for a bundle of power transmission infrastructure works. Specifically, the regulator auctions two works altogether: one is to be developed and operated by the winning bidder, while the other is an owner-operated and financed expansion of an existing...

Previous empirical works on municipal efficiency have mostly used cross-sectional data which makes it impossible to separate unobserved heterogeneity from inefficiency. Furthermore, they have also typically used a two stages approach which has been widely criticized as the assumptions made in...

The main aim of this paper is to contribute to the understanding of the evolution and different models of development of Latin American business schools. For this we analyze data from the AmericaEconomia MBA Rankings for the period 2015 to 2019 and build a panel with quantitative data and...

Option valuation models are usually based on frictionless markets. This paper extends and complements the literature by developing a model of option pricing in which the derivative and/or the underlying asset have an oligopolistic market structure, which produces an expected return on these...

This article tests the existence of credit constraints on higher education access by estimating actual marginal returns in the context of unobserved heterogeneity. We estimate higher education returns for those who attend to it and compare them with those of individuals who are at the margin of...

We study the cost-effectiveness of a transferable emissions permit system (TEPS) vis a vis a system of emissions standards. Our analysis includes along with abatement costs, the costs of enforcing the system to induce compliance. Further, the analysis considers complete and incomplete...

We formally study Pigouvian taxation in a duopoly market in which a CSR firm interacts with a profit maximizing firm. Unlike previous literature, we consider three different scenarios: (i) the CSR firm acts as a consumer-friendly firm, cares for not only its profits but also consumer surplus, as...