Agent failures: A theory of internalities
Códigos JEL: D10, D15, D91
- Autores:
-
Vallejo González, Hernan Eduardo
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2023
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/65325
- Acceso en línea:
- http://hdl.handle.net/1992/65325
- Palabra clave:
- Internalities
Agent failures
Government failures
Market failures
Snudge
Economía
- Rights
- openAccess
- License
- https://repositorio.uniandes.edu.co/static/pdf/aceptacion_uso_es.pdf
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Agent failures: A theory of internalities |
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Agent failures: A theory of internalities |
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Agent failures: A theory of internalities Internalities Agent failures Government failures Market failures Snudge Economía |
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Agent failures: A theory of internalities |
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Agent failures: A theory of internalities |
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Agent failures: A theory of internalities |
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Agent failures: A theory of internalities |
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Agent failures: A theory of internalities |
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Vallejo González, Hernan Eduardo |
| dc.contributor.author.none.fl_str_mv |
Vallejo González, Hernan Eduardo |
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Internalities Agent failures Government failures Market failures Snudge |
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Internalities Agent failures Government failures Market failures Snudge Economía |
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Economía |
| description |
Códigos JEL: D10, D15, D91 |
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2023 |
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2023-02-28T20:54:42Z |
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eng |
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eng |
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32 páginas |
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Universidad de los Andes |
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Facultad de Economía |
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Universidad de los Andes |
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Vallejo González, Hernan Eduardo108556002023-02-28T20:54:42Z2023-02-28T20:54:42Z2023-021657-7191http://hdl.handle.net/1992/6532510.57784/1992/65325Códigos JEL: D10, D15, D91Market failures, such as market power, externalities and imperfect information, have played a major role in economic theory. This article studies internalities, as others have done in the past, as agent failures. To do so, it considers economic agents with imperfect foresight, that face internal conflicts between say, rationality and impulsivity; consciousness and unconsciousness, short run welfare and long run welfare; between members of the board; or between members of the Government cabinet or a majority coalition in Congress. This allows to identify the biases in judgment that lead to the misallocation of resources and the loss of welfare, that have been studied for example in behavioral economics, and that are defined here as internalities. Such approach helps to explain irrational or unexpected behaviors, expanding the use of the tools of conventional economic theory; and understand better and hopefully improve, personal, social and public solutions, to this important source of economic inefficiencies.Las fallas del mercado, como el poder de mercado, las externalidades y la información imperfecta, han jugado un papel importante en la teoría económica. Este artículo estudia las internalidades, como lo han hecho otros en el pasado, como fallas de los agentes. Para ello, considera agentes económicos con previsión imperfecta, que enfrentan conflictos internos entre, digamos, racionalidad e impulsividad; conciencia e inconsciencia, bienestar a corto plazo y bienestar a largo plazo; entre los miembros de la junta; o entre miembros del Gabinete de Gobierno o de una la coalición mayoritaria en el Congreso. Esto permite identificar las decisiones imperfectas que conducen a la mala asignación de recursos y la pérdida de bienestar, que han sido estudiados por ejemplo en economía del comportamiento, y que aquí se definen como internalidades. Tal enfoque ayuda a explicar comportamientos irracionales o inesperados, ampliando el uso de las herramientas de la teoría económica convencional; y a comprender mejor y, en lo posible, mejorar, las soluciones individuales, sociales y públicas, a esta importante fuente de ineficiencias económicas.32 páginasapplication/pdfengUniversidad de los AndesFacultad de EconomíaDocumentos CEDE;2023-02https://ideas.repec.org/p/col/000089/020653.htmlhttps://repositorio.uniandes.edu.co/static/pdf/aceptacion_uso_es.pdfinfo:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Agent failures: A theory of internalitiesDocumento de trabajoinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttp://purl.org/redcol/resource_type/WPInternalitiesAgent failuresGovernment failuresMarket failuresSnudgeEconomíaPublicationTHUMBNAILdcede2023-02.pdf.jpgdcede2023-02.pdf.jpgIM Thumbnailimage/jpeg16158https://repositorio.uniandes.edu.co/bitstreams/ada64c03-76c2-4bb6-8364-50a2939f7512/downloada3fb16617ded91f888e61f750af6c653MD54LICENSElicense.txtlicense.txttext/plain; charset=utf-81810https://repositorio.uniandes.edu.co/bitstreams/21598f1f-d4f9-4087-b940-fd2728a3deb2/download5aa5c691a1ffe97abd12c2966efcb8d6MD51ORIGINALdcede2023-02.pdfdcede2023-02.pdfapplication/pdf10215220https://repositorio.uniandes.edu.co/bitstreams/a5a0e44a-2c28-463b-bb0a-c6ae05e5266a/download015c002fae1a0658d9096eb6b1bbebd7MD52TEXTdcede2023-02.pdf.txtdcede2023-02.pdf.txtExtracted texttext/plain44814https://repositorio.uniandes.edu.co/bitstreams/49512595-e08c-48b4-8636-5013fa2c1dc6/download6817f8c9a2df0105e7b22834bfc1c024MD531992/65325oai:repositorio.uniandes.edu.co:1992/653252024-06-04 15:35:05.808https://repositorio.uniandes.edu.co/static/pdf/aceptacion_uso_es.pdfopen.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.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 |