The restrictions imposed by the regulatory authorities on the composition of retirement-fund portfolios are aimed at avoiding opportunistic behavior on the part of retirement-fund managers. However, these restrictions reduce the welfare of the shareholders of such funds. In this paper, the...

In this paper, we consider a society composed of citizens grouped in different economic strata based on income, who must pay taxes, but there are incentives to do so, and a set of public officials (auditors), whose function is to monitor compliance with the tax rules among citizens. We assume...

In this work the evolutionary dynamics of migratory behavior driven by imitation is studied. We show that, any migratory flow, driven by the imitation, can be modeled by a dynamic system, once the rules governing imitative behavior of the population, are established. The parameters...

This paper provides an extended framework to study general equilibrium theory with commodity spaces possibly of infinite dimensions. Our approach overcomes some difficulties found in the literature since it allows the study of the equilibrium when consumption sets may have an empty interior. It...

This work extends the Sard-Smale Theorem to maps between convex subsets of Banach spaces that may have an empty interior.

The natural projection plays a fundamental role to understand the behavior of the Walrasian economies. In this paper, we extend this method to analyze the behavior of infinite dimensional economies. We introduce the definition of the social equilibrium set, and we show that there exists a...

Since the early nineties in Swedish starts a welfare state transformation process that allows the participation of private operators in sectors emblematic of the welfare state, such as education, health, child care and assistance to adults. To date, experience shows that the coexistence of...

En este trabajo se muestran condiciones para la unicidad del equilibrio de Nash-Cournot para un juego de n-firmas. Estas condiciones garantizan que las funciones de mejor respuesta para n-firmas que compiten en forma oligopolica a la Cournot sean contracciones y generalizan las condiciones de...

En este trabajo se analiza la evolucion de una economia con dos tipos de firmas (innovadoras y no-innovadoras) y dos tipos de trabajadores (altamente calificados y poco calificados), en el que las decisiones de los trabajadores se encuentran definidas por conductas imitativas de comportamiento y...

A stumbling block in the modelling of competitive markets with commodity and price spaces of infinite dimensions, arises from having positive cones with an empty interior. This issue precludes the use of tools of differential analysis, ranging from the definition of a derivative, to the use of...