Strategic Information Acquisition in Networked Groups with "Informational Spillovers"

This paper develops a model of costly information acquisition by agents who are connected through a network. For a exogenously given network, each agent decides first on information acquisition from his neighbors and then, after processing the information acquired, takes an action. Each agent is concerned about the extent to which other agents align their actions with the underlying state. A new equilibrium notion, which is in the spirit of perfect Bayesian equilibrium, is proposed to analyze information acquisition decisions within networked groups. This equilibrium notion allows each agent to compute, when deciding about information acquisition, the extent to which changes in his information acquisition decision will affect his own perception of future expected payos. Agents anticipate and incorporate such changes in their information acquisition decisions. Both the efficient and the equilibrium information acquisition proles are characterized and the compatibility between them is related to the density of the network.Incomplete Information, Information Acquisition, Communication Networks, Informational Spillovers, Coordination

Notes on the Suboptimality Result by J. D. Geanakoplos and H. M. Polemarchakis (1986)

J. D. Geanakoplos and H. M. Polemarchakis (1986) prove the generic constrained suboptimality of equilibrium allocations in two period economies with incomplete markets. They perturb asset prices at equilibrium when the degree of market incompleteness equals one. However, since prices are not fundamentals that parameterize the economy, a generic result cannot be obtained in such a way. In these notes we provide complete and detailed version of their proof in which the arguments do not depend on the dimension of the market incompleteness and in which utilities and endowments are perturbed.Incomplete Asset Markets, Constrained Suboptimality, Transversality Theory

The space of solutions to the Hessian one equation in the finitely punctured plane

We construct the space of solutions to the elliptic Monge-Ampere equation det(D^2 u)=1 in the plane R^2 with n points removed. We show that, modulo equiaffine transformations and for n>1, this space can be seen as an open subset of R^{3n-4}, where the coordinates are described by the conformal equivalence classes of once punctured bounded domains in the complex plane of connectivity n-1. This approach actually provides a constructive procedure that recovers all such solutions to the Monge-Ampere equation, and generalizes a theorem by K. Jorgens.Comment: 14 pages, 3 figure

ALTERNATIVE CYCLING STRATEGIES FOR SHRIMP FARMING IN ARID ZONES OF MEXICO: DEALING WITH RISK AND UNCERTAINTY

Northwest Mexican coastal waters have large seasonal temperature variations, high salinity, and are subject to intense solar radiation. Shrimp farms in this region have been using two annual production strategies; six- to eight-month cycle with one complete harvest and several partial harvests, or two, three- to four-month cycles with complete harvests. The preferred strategy depends on two uncertain variables; shrimp growth, which varies across the region, and market price, which varies across the season. A bioeconomic model was used to compare the economic yield of the two cycling strategies for three zones across the region, under three alternative average annual temperatures states. Simple decision theory criteria are used to show that the two-cycle strategy dominates the one-cycle strategy in the Bahia de La Paz zone. Results for central and northern Sonora are conditional on temperature.Resource /Energy Economics and Policy,

La imagen postmortem y el rito de los invitados: Un análisis de la escopía de la despedida

Es una buena descripción de la forma tradicional en la que regionalmente se organiza la ritualidad hacia la muerte, con un importante contenido analítico en torno a la cuestión de la muerte, desde la antropología y el psicoanálisis, principalmente como transdisciplinariedad con la que traban los estudios visuales.Es un trabajo terminal de grado en el cual se aborda la fotografía postmortem como una práctica que se mantiene socialmente, y que incluye actividades y formas de asumir el procesamiento de la pérdida en su relación con el manejo de las imágenes fotográficas