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On freedom of choice, ambiguity, and the preference for easy choices
(2006)
Documento de trabajo / Lan gaiak,
This paper is devoted to the study of opportunity set comparisons when the characteristics of the options within the sets in question may be ambiguous. We assume that agents display a preference for freedom of choice, but ...
A betting market: Description and a theoretical explanation of bets in pelota matches
(2006)
Documento de trabajo / Lan gaiak,
In pelota matches, bets are made between viewers through a middleman who receives 16% of the finally paid amount. In this paper a description of the way bets are made and an explanation of the existence of those markets ...
Freedom of choice: the leximax criterion in the infinite case
(2006)
Documento de trabajo / Lan gaiak,
Many recent works have investigated the problem of extending a preference over a set of alternatives to its power set, in an attempt to provide a formal representation of the notion of freedom of choice. In general, results ...
A profitable strategy in the pelota betting market
(2006)
Documento de trabajo / Lan gaiak,
In pelota matches, games with two mutually exclusive and exhaustive outcomes, bets on the winner are made between viewers through a middleman who receives 16% of the finally paid amount. In this paper after the description ...
Dynamics, welfare and migration in open economies
(2006)
Documento de trabajo / Lan gaiak,
In this work we analyze the importance of dynamics in the determination of the distribution of gains from free trade and migration. Given a transition dynamic, free trade might worsen a country relatively to autarchy. ...
Wage setting actors, sticky wages, and optimal monetary policy
(2007)
Documento de trabajo / Lan gaiak,
Following Erceg et al. (2000), sticky wages are generally modelled assuming that households set wage contracts à la Calvo (1983). This paper compares that sticky-wage model with one where wage contracts are set by firms, ...
Sticky prices, sticky wages, and also unemployment
(2008)
Documento de trabajo / Lan gaiak,
This paper shows a New Keynesian model where wages are set at the value that matches household's labor supply with firm's labor demand. Subsequently, wage stickiness brings industry-level unemployment fluctuations. After ...
The location decisions of multinationals and the cultural link: evidence from Spanish direct investment abroad
(2008)
Documento de trabajo / Lan gaiak,
We examine the way in which differences in language and culture may affect direct investment decisions. We use a discrete choice approach to model the location decisions of multinationals in which cultural links, language ...
Uncertainty with ordinal likelihood information
(2007)
Documento de trabajo / Lan gaiak,
This paper proposes a new framework of choice under uncertainty, where the only information available to the decision maker is about the the ordinal likelihood of the different outcomes each action generates. This contrasts ...
The drawbacks of welfare effort in measuring social spending trends
(2008)
Documento de trabajo / Lan gaiak,
The welfare effort (social spending as a percentage of GDP) has conventionally been the preferred measure for comparisons in space and time of the level of development of welfare states. However, frequent mentions are made ...