We consider a decision maker that holds multiple preferences simultaneously, each with different strengths described by a probability distribution. Faced with a subset of available alternatives, the preferences held by the individual can be in conflict. Choice results from an aggregation of...

We examine evidence from a 2006 to 2009 data panel to explore how Chilean households were affected by the negative income shock observed during the recent financial crisis. Our results show that there is a negative and significant relationship between income shocks and changes in consumption...

This paper analyzes empirically the relationship between innovation and productivity in the Chilean services sector. Consistent with recent evidence on developed countries, we find that services firms are as innovative as firms in the manufacturing industry. In the basic model, we also find that...

Over the last five decades a growing number of governments in developed and developing countries have implemented targeting policies to increase the R&D to GDP ratio. However, until now there have been few attempts either to evaluate the effectiveness of these policy efforts or to identify the...

We characterize essential stability of Cournot-Nash equilibria of generalized games with a continuum of players. As application, we rationalize the active participation of politically engaged individuals as the unique essential equilibrium in an electoral game with a continuum of Cournot-Nash...

In recent years, unemployment protection systems based on individual savings have been instituted in several developing countries. Chile was one of the first countries to establish such a system, which at the time was widely referred to as a model for other countries. Since its institution in...

This paper analyzes the role of National Research Funds in promoting scientific production in emerging economies. The study focuses on the impact of the Chilean National Science and Technology Research Fund (FONDECYT). The analysis uses data drawn from international sources of bibliometric...

We estimate the wage premium in Chile for the period 2004-2009 following a two-stage procedure that corrects the endogeneity of the union decision process. We find that there is true state dependence in the union decision. The wage premium after controlling for endogeneity is close to 20%. At...