Now showing items 1-9 of 9

    • A direct proof of the existence of pure strategy equilibria in large generalized games with atomic players 

      Riascos Villegas, Alvaro; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2010)
      Consider a game with a continuum of players where only a finite number of them are atomic. Objective functions and admissible strategies may depend on the actions chosen by atomic players and on aggregate information ...
    • Credit market segmentation, essentiality of commodities, and supermodularity 

      Faias, Marta; Torres Martínez, Juan Pablo (Universidad de Chile, 2016-03)
      We consider incomplete market economies where agents are subject to price-dependent trading constraints compatible with credit market segmentation. Equilibrium existence is guaranteed when either commodities are essential, ...
    • Endogenous differential information in financial markets 

      Cea Echenique, Sebastián; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2010)
      We develop a two period general equilibrium model with incomplete financial markets and differential information. Making endogenous the traditional informational restriction on consumption, we allow agents to obtain ...
    • Essential Equilibria of Large Games 

      Correa, Sofía; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2012)
      We characterize essential stability of Cournot-Nash equilibria of generalized games with a continuum of players. As application, we rationalize the active participation of politically engaged individuals as the unique ...
    • Information within coalitions: risk and ambiguity 

      Moreno García, Emma; Torres Martínez, Juan (Universidad de Chile, Facultad de Economía y Negocios, 2017)
      We address economies with asymmetric information where agents are not perfectly aware about the informational structure for coalitions. Thus, we introduce solutions that we refer to as risky core and ambiguous core. We ...
    • Large Multi-Objective Generalized Games: Existence and Essential Stability of Equilibria 

      Correa, Sofía; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2016)
      We characterize the existence and the essential stability of Weak Pareto-Nash and Pareto-Nash equilibria in multi-objective generalized games with a continuum of players.
    • Liquidity Contractions and Prepayment Risk on Collateralized Asset Markets 

      Iraola, Miguel A.; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2012)
      This paper presents a dynamic general equilibrium model with default and collateral requirements. In contrast with previous literature, our model allows for liquidity contractions and general prepayment specifications. ...
    • Long-lived Collateralized Assets and Bubbles 

      Araujo, Aloisio; Páscoa, Mário; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2008)
      When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents' characteristics. Also, regardless of ...
    • With Additional Enforcement Mechanisms, does Collateral Avoid Ponzi Schemes? 

      Revil, Thiago; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2008)
      In infinite horizon incomplete market economies, when the seizure of collateral guarantees is the only mechanism enforcing borrowers not to entirely default on their promises, equilibrium exists independently of the ...