Objects of different quality are to be allocated to agents. Agents can receive at most one object, and there are not enough high-quality objects for every agent. The value to the social planner from allocating objects to any given agent depends on that agent's private information. The social...

If checks and balances are aimed at protecting citizens from the government's abuse of power, why do they sometimes weaken them? We address this question in a laboratory experiment in which subjects choose between two decision rules: with and without checks and balances. Voters may prefer an...

In this paper we introduce a new method to describe dynamical patterns of the real exchange rate movements time series and to analyze contagion in currency crisis. The method combines the tools of Symbolic Time Series Analysis with the nearest neighbor single linkage clustering algorithm. Data...

El objetivo de este trabajo es estudiar la dinámica económica de un grupo de países de América Latina durante el período 1955-2003. Para ello se introduce un concepto alternativo de desempeño económico basado en la noción de regímenes dinámicos. Estos regímenes están definidos por...