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Innovation, loyalty and generic competition in pharmaceutical markets

Antoñanzas, Fernando; Juárez-Castelló, Carmelo; … - In: SERIEs - Journal of the Spanish Economic Association 2 (2011) 1, pp. 75-95

-line extension (an upgrade through innovation) before it faces generic competition. There are two types of physicians: loyal … firm decides the level of innovation. In the second-stage, all firms decide sequentially their prices, with the incumbent … innovation, the incumbent firm competes for the price-sensitive physicians. However, for low levels of innovation, the incumbent …

Persistent link: https://www.econbiz.de/10010317100

Is informality a barrier to financial development?

Elgin, Ceyhun; Uras, Burak R. - In: SERIEs - Journal of the Spanish Economic Association 4 (2013) 3, pp. 309-331

empirical support for the mechanism of our theory. …

Persistent link: https://www.econbiz.de/10011650272

The crisis of the Spanish economy

Jimeno, Juan F.; Santos, Tano - In: SERIEs - Journal of the Spanish Economic Association 5 (2014) 2/3, pp. 125-141

This article offers a narrative of the Spanish crisis building upon previous literature and the papers published in this issue. This narrative focuses on two main topics: (1) the reasons why the Spanish economy embarked in the expansionary/speculative path resulting in an over-accumulation of...

Persistent link: https://www.econbiz.de/10011650283

Fewer babies and more robots: Economic growth in a new era of demographic and technological changes

Jimeno, Juan F. - In: SERIEs - Journal of the Spanish Economic Association 10 (2019) 2, pp. 93-114

This paper surveys recent research on the macroeconomic implications of demographic and technological changes. Lower fertility and increasing longevity have implications on the age population structure and, therefore, on the balance between savings and investment. Jointly with meagre...

Persistent link: https://www.econbiz.de/10014496114

Postponing the legal retirement age

Lacomba, Juan A.; Lagos, Francisco - In: SERIEs - Journal of the Spanish Economic Association 1 (2010) 3, pp. 357-369

This paper analyzes the reform of the pensionable age as an answer to the future financing problems of public pension systems. We use a two-staged model where, first, the government decides the redistribution level of the pension system and, secondly, individuals face a voting process on the...

Persistent link: https://www.econbiz.de/10010317060

Assessing the extent of strategic manipulation: The average vote example

Renault, Régis; Trannoy, Alain - In: SERIEs - Journal of the Spanish Economic Association 2 (2011) 4, pp. 497-513

The average voting procedure reflects the weighted average of expressed opinions in [0,1]. Participants typically behave strategically. We evaluate the discrepancy between the average taste and the average vote. If the population is sufficiently large, it is possible to construct approximations...

Persistent link: https://www.econbiz.de/10010317062

Stochastically stable implementation

Cabrales, Antonio; Serrano, Roberto - In: SERIEs - Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 59-72

Restricting attention to economic environments, we study implementation under perturbed better-response dynamics (BRD). A social choice function (SCF) is implementable in stochastically stable strategies of perturbed BRD whenever the only outcome supported by the stochastically stable strategies...

Persistent link: https://www.econbiz.de/10010317077

Deciding whether a law is constitutional, interpretable, or unconstitutional

Amorós, Pablo; Martínez, Ricardo; Moreno, Bernardo; … - In: SERIEs - Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 1-14

A high court has to decide whether a lawis constitutional, unconstitutional, or interpretable. The voting system is runoff. Runoff voting systems can be interpreted both, as social choice functions or as mechanisms. It is known that, for universal domains of preferences, runoff voting systems...

Persistent link: https://www.econbiz.de/10010317080

A queuing-based model for optimal dimension of service firms

Parra-Frutos, Isabel - In: SERIEs - Journal of the Spanish Economic Association 1 (2010) 4, pp. 459-474

This paper examines a stochastic model to determine optimal pricing, waiting time, output, and sizing decisions for service firms which compete on time in an uncertain environment. Sizing decisions concern optimal service capacity and maximum physical waiting room (with a given probability)....

Persistent link: https://www.econbiz.de/10010317085

All but one free ride when wealth effects are small

Silvestre, Joaquim - In: SERIEs - Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 201-207

Quasilinear preferences on a public good and a numeraire good are limits of preferences where both goods are normal. The set of equilibria of the voluntary contribution (or private provision) game is easily characterized under quasilinearity by: top valuators aggregately contribute their common...

Persistent link: https://www.econbiz.de/10010317090