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...

The Colombian reform to the health system (Law 100 of 1993) established, as strategy to facilitate the access, the universality of a health insurance that is acquired by means of the quotation in the contributive regime or by means of the gratuitous affiliation to the subsidized regime, in order...

Unlike most work on rural poverty in Colombia, in this study we make use of an asset based approach for inquiring about the determinants of rural poverty. In particular, we examine the presence of local non convexities in the income generating process, the degree of concentration of rural...

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