Given a sufficiently large population satisfying certain statistical regularities, we show that it is often possible to accurately estimate the utilitarian social welfare func- tion and identify the welfare-maximizing social alternative, even if we only have very noisy data about individual...

Given a large enough population of voters whose utility functions satisfy certain statistical regularities, we show that voting rules such as the Borda rule, approval voting, and evaluative voting have a very high probability of selecting the social alternative which maximizes the utilitarian...

East Asian and Latin American economies present opposite exchange rate electoral cycles: exchange rates tend to be more depreciated before and appreciated after elections among East Asian economies, while the opposite is true in Latin America. We propose a explanation for these empirical...

We introduce a ranking of multidimensional alternatives, including un- certain prospects as a particular case, when these objects can be given a matrix form. This ranking is separable in terms of rows and columns, and continuous and monotonic in the basic quantities. Owing to the theory of...

In this note we introduce mergers and an endogenous minimum quality standard in a Cournot triopoly with vertically differentiated quality and fixed quality costs. As in Ecchia and Lambertini (1997) we endogenize the choice of the minimum quality standard by allowing the regulator to chose the...

Say has shown that there is no amount of capital which may not be employed in a country. Such a proposal does not involve the absence of unemployment and crisis. The markets may be glutted. In his first writings, Say advanced that whenever there is a superabundance of several sorts of...

This work presents a rationale for the prevalent limits to voters’ information disclosure in electoral settings. When allowed to express an intensity of preferences, strategic voters overstate in equilibrium of large multicandidate elections. Due to these overstatements, the set of voting...

There is some indirect evidence that the absence of markets might cause child labor. However the existing literature is silent on whether marginal improvements of the markets functioning would reduce child labor. This paper models rural households’ labor supply when the degree of imperfections...

We build a theoretical model that incorporates unionization in the labor market into a Heckscher-Ohlin-Samuelson (HOS) framework to in- vestigate the impact of unionization on the Stolper-Samuelson Theorem. To capture the American economy case, we assume that unskilled labor in the manufactured...

Residential location decision is often a household joint decision involving several decision-makers. These different decision-makers usually have diverging preferences, especially in dual-earner households, when spouses work at different locations. Since about half a century, literature on...