Strategic equilibrium in economies with a continuum of agents

In this note, a pure exchange economy with a continuum of agents who behave strategically in endowments and preferences is considered. A notion of equilibrium, namely, strategic equilibrium is defined. It is shown that price-taking and strategic behavior leads to identical results

Linear exchange economies with a continuum of agents.

The purpose of this paper is to study how the equilibrium prices vary with respect to the initial endowments in a linear exchange economy with a continuum of agents. We first state the model and give conditions of an increasing strength for existence, uniqueness and continuity of equilibrium prices.Then, if we restrict ourselves to economies with essentially bounded initial endowments and if we assume that there is, from the point of view of preferences, only a finite number of types of agents, we show that, on an open dense subset of the space of initial endowments, the equilibrium price vector is an infinitely differentiable function of the initial endowments. The proof of this claim is based on an explicit formula allowing to compute the equilibrium price vector around a so-called "regular" endowment where it is known.Linear utilities; Indirect utility function; Walrasian equilibrium; Atomless measure space of agents; Open mapping theorem;

Strategic equilibrium in economies with a continuum of agents.

In this note, a pure exchange economy with a continuum of agents who behave strategically in endowments and preferences is considered. A notion of equilibrium, namely, strategic equilibrium is defined. It is shown that price-taking and strategic behavior leads to identical results.Strategic equilibrium; Pure exchange economy; Continuum economy;

Some discrete approaches to continuum economies

Given the preferences of the agents of a continuum economy, we define the average and unanimous preference. This allow us to consider several sequences of economies, in which only a finite number of different agents' characteristics can be distinguished. We obtain approximation results for the core of these economies

What we learn in school: Cognitive and non-cognitive skills in the educational production function

This dissertation revisits the traditional educational production function, offering alternative strategies to model how achievement and socio-emotional skills enter the relationship and how they are affected during the schooling period. The proposed analyses use a combination of estimation methodologies (longitudinal, multilevel and simultaneous equations models) to empirically assess the importance of the different inputs in the educational process. These estimates can be compared to those obtained using traditional estimation methods to complement our understanding of what educational outcomes are generated in school and which school inputs are most important in producing certain outcomes. The analyses try to provide a broader understanding -both conceptually and statistically- of how education is produced and unbiased estimates of the relative importance of the determinants of academic and behavioral performance. Study design and methods: This dissertation is composed of three empirical questions about the conceptual and statistical structure of the educational production function, aimed at identifying what educational outcomes are generated and what determinants affect them. The empirical analyses use the Early Childhood Longitudinal Study, Kindergarten Class of 1998-99. 1. Estimation of cognitive achievement: an overview of the traditional educational production function. 2. Estimation of non-cognitive achievement: educational production function for non-cognitive skills. 3. A simultaneous equations model of the determinants of educational outcomes: achievement and behavioral skills. Question 1 involves the estimation of the production of cognitive skills, and educational achievement in reading and mathematics; Question 2 involves the estimation of the production of non-cognitive skills in school, and particular behavioral skills such as internalizing and externalizing behavioral problems, and self-control (reported by the teacher). I use three different estimation methods for both questions: ordinary least squares; students' fixed effects; and multilevel students' fixed-effects. In Question 3 I model the production of simultaneous outcomes, using a cross-sectional and a dynamic simultaneous equation model of the production of education. This framework is an attempt to account for simultaneity and interdependence between outcomes and several educational inputs, leading to a more realistic formulation of how different educational ingredients can be interrelated over time, and acknowledging that educational components can be both inputs and outputs of the process, at different points in time. The estimation methods are three-stage least squares for the cross-sectional estimates; and within-three stages least squares for the longitudinal model. Findings: The findings obtained from the estimation of the three research questions indicate, in accordance with the existing literature, that the associations between teacher and schools characteristics and the production of cognitive skills and non-cognitive skills are small and mainly statistically insignificant. First, the results using students' fixed effects estimation suggest that the effects of teacher's educational attainment on the cognitive skills index; and experience on the non-cognitive skills index. Some effects of class size are also detected for the production of both skills. Secondly, the estimates using the multilevel students' fixed effects estimation, which controls for the clustered structure of the ECLS-K dataset, indicate that some the effects of certain school level characteristics are statistically significant for the production of reading achievement. These variables are type of school (Catholic school versus public) or class size (medium size versus small). Similarly, the effects of certain teacher characteristics, such as higher educational attainment are statistically significant for the production of mathematics achievement. Regarding the non-cognitive skills, teachers with more experience lead to better non-cognitive skills, while students in private schools, versus students in public schools, have lower non-cognitive skills, as reported by their teachers. Finally, the results using the cross-sectional simultaneous equations model confer a statistically significance importance to the associations between cognitive and non-cognitive skills in all the grade-levels. Compared to the teacher and school characteristics associations, the coefficients associated with the simultaneous relationships are educationally important. Policy implications: The design of a comprehensive model of educational outcomes and the study of their associations with the different school inputs are expected to uncover interesting features of the educational production process. Consequently, and building on all the existing knowledge on the production of education, these analyses can help to shed some light on fundamental knowledge for educational research: to better understand the educational process. The empirical findings arising from the study can be useful for informing policymakers and school practitioners and guiding decision making, by offering complementary frameworks that more accurately represent the educational process. Finally, the results may be useful for designing and evaluating educational interventions that are efficient and effective in producing higher quality and quantity of educational outcomes, by incorporating the assessment of non-cognitive skills into the interventions' expected outcomes. Indirectly, this could also stimulate the creation of newer theoretical frameworks, statistical methods and more comprehensive empirical sources for the study of education

On equilibrium existence in infinite horizon economies

In sequential economies with finite or infinite-lived real assets in positive net supply, we introduce constraints on the amount of borrowing in terms of the market value of physical endowments. We show that, when utility functions are either unbounded and separable in states of nature or separable in commodities, these borrowing constraints not only preclude Ponzi schemes but also induce endogenous Radner bounds on short-sales. Therefore, we obtain existence of equilibrium. Moreover, equilibrium also exists when both assets are numerarie and utility functions are quasilinear in the commodity used as numerarie.Equilibrium, Infinite horizon incomplete markets, Infinite-lived real assets.

Union Games: Technological Unemployment

Given a production economy, we define a trade union game by considering strategic behavior on factor supplies. We refer to the Nash equilibria of this game as trade union equilibria. First we analyze situations under which unemployment of factors are supported as trade union equilibria. The degree of unemployment depends on technological conditions. In this line, we suggest a source of unemployment which differs from the usual sources provided in the related literature. Then, we state a limit result which shows that when the market power of trade unions decreases the corresponding sequence of trade union equilibria converges to the walrasian equilibrium, that is, to full employment of factors.Trade Union Games, unemployment, walrasian equilibrium, manipulability.

Infinite horizon economies with borrowing constraints

We consider infinite horizon economies with incomplete financial markets. Securities are in positive net supply and may be infinite-lived. We establish existence of equilibria by requiring borrowing constrains instead of portfolio restrictions..Equilibrium, Infinite horizon incomplete markets, Infinite-lived real assets.

Les tertúlies literàries dialògiques a les aules d’infantil. Virtuts, febleses i recomanacions.

Treball Final de Grau en Mestre o Mestra d'Educació Infantil. Codi: MI1040. Curs acadèmic: 2017/2018El present estudi té com a objectiu millorar el funcionament de les tertúlies literàries dialògiques utilitzades com a pràctica lectora d’èxit, per aconseguir que aquestes siguin vertaderament lectures d’èxit, perquè s’ha detectat que no es compleixen alguns criteris en la posada en pràctica a les aules. Per a la realització d’aquest estudi hem comptat amb la col·laboració de tres col·legis públics de Castelló de la Plana, aquests col·legis els hem anomenat A, B i C per a protegir l’anonimat. Tots tres duen a terme les tertúlies literàries dialògiques en Educació Infantil. L’acció ha consistit en la repartició de dos tipus de qüestionaris, un per a docents i un per a voluntariat, per a avaluar aquesta pràctica a l’aula. En total han participat 9 docents dels tres col·legis i 2 voluntaris de dos col·legis. Els resultats que hem extret a partir dels qüestionaris mostren que generalment les tertúlies literàries dialògiques s’apliquen correctament al cicle d’Infantil respectant els criteris que la conformen, encara que s’han de millorar alguns aspectes referits a l’elecció de les lectures per tal que siguin obres clàssiques de la literatura universal, i promoure la participació de voluntariat tant a la comunitat educativa com a futurs/es docents. Tanmateix, extraiem virtuts, febleses i recomanacions per a una adequada pràctica lectora d’èxit

A price mechanism in economies with asymmetric information

In this paper we consider a pure exchange economy with a finite set of types of agents which have incomplete and asymmetric information on the states of nature. Our aim is to describe the equilibrium price formation and how the lack of information may affect the allocation of resources. For it, we adapt to an asymmetric information scenario a variant of the Shapley-Shubik game introduced by Dubey and Geanakoplos (2003).C72/ D51