SelectedWorks - Felipe Balmaceda

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Selected Works of Felipe Balmaceda

Andrés Bello University, Full Professor

My work focuses on contract theory and their applications to labor economics, industrial organization and corporate finance.

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About Felipe Balmaceda

My work focuses on contract theory and their applications to labor economics, industrial organization and corporate finance.

Present	Economics Department, Diego Portales University
Institution Organization Position Type Position Title Time Period to Options Current Position Affiliate my profile with this Institution
Present	Full Professor, Diego Portales University
Institution Organization Position Type Position Title Time Period to Options Current Position Affiliate my profile with this Institution

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Finance, Industrial Organization, and Labor Economics

Microeconomics

Industrial Organization
Game Theory
Economics of Organizations

Unpublished Paper

Market and Non-Market Exchange: Complements or Substitutes?

Felipe Balmaceda

There is a long-standing debate about the relationship between market exchange, non-market exchange, and market-supporting institutions. Some intellectuals contend that ...

Unpublished Paper

Investments, Competition, and Endogenous Cash Constraints

Felipe Balmaceda

This paper studies the impact of external financing on firms' incentives to invest in a general borrowing-then-investment oligopoly game. Firms ...

Unpublished Paper

Labor Market Power and Occupational Choice

Felipe Balmaceda

This paper integrates the concepts of labor market power and occupational choice, specifically the choice between paid employment and self-employment, ...

Vouchers, Quality, and Competition between Public and Private Providers: Revisiting ...

UNAB Working Papers (2022)

Felipe Balmaceda

This paper studies a quality-then-prices game between public and private providers. There are two types of equilibria: one in which ...

Libertad Económica y Confianza

MIPP Gazette (2020)

Felipe Balmaceda

Articles (15)

A Failure of the Market for College Education and On-the-Job ...

Forthcoming Economics of Education Review (2021)

Felipe Balmaceda

This paper shows that a \emph{competitive labor market} fails to provide first-best incentives to invest in general human capital and ...

Private vs. Public Communication with Reputational Concerns

Forthcoming Journal of Economic Theory (2021)

Felipe Balmaceda

This paper studies the cost and benefits of private and public communication ina game with a policy maker, a privately-informed ...

On the Optimality of One-size-fits-all Contracts: The Limited Liability Case

International Journal of Game Theory (2019)

Felipe Balmaceda

This paper studies a principal-agent relationship when both are risk-neutral and in the presence of adverse selection and moral hazard. ...

Optimal Task Assignments with Loss-Averse Agents

European Economic Review (2018)

Felipe Balmaceda

This paper studies optimal task assignments in a setting where agents are expectation-based loss averse according to KoszegiRabin (2006) and ...

Entrepreneurship vs Paid Employment: Multiple Skills and Financing

Small Business Economics (2018)

Felipe Balmaceda

We present an occupational choice model with risk-averse agents who are heterogeneous in terms of skills and wealth in a ...

Trust in Cohesive Communities

Journal of Economic Theory (2017)

Felipe Balmaceda and Juan Escobar

This paper studies which social networks maximize trust and welfare when agreements are implicitly enforced. We study a repeated trust ...

Optimal Task Assignments

Games and Economic Behavior (2016)

Felipe Balmaceda

This paper studies optimal task assignments in a risk neutral principal-agent model in which agents are compensated according to an ...

The Price of Unobservability: Moral Hazard and Limited Liability

Games and Economic Behavior (2016)

Felipe Balmaceda

This article studies a principal-agent problem with discrete outcome and effort space. The principal and the agent are risk neutral ...

Financial liberalization, market structure and credit penetration

Journal of Financial Intermediation (2013)

Felipe Balmaceda, Ronald Fischer and Felipe Ramirez

This paper shows that the effects of financial liberalization on the credit market of a small and capital constrained economy ...

Uncertainty, Pay for Performance, and Asymmetric Information

Journal of Law, Economics and Organization (2009)

Felipe Balmaceda

This article develops a new rationale for the emergence of pay-for-performance contracts where the labor market is competitive, workers are ...

Mergers and CEO Power

Journal of Institutional and Theoretical Economics (2009)

Felipe Balmaceda

In this paper I propose a model of mergers in which synergies and CEO power play a crucial role. A ...

Economic performance, creditor protection, and labour inflexibility

Oxford Economic Papers (2009)

Felipe Balmaceda and Ronald Fischer

We present a static general equilibrium model of an open economy where agents are heterogeneous in terms of observable wealth ...

ASYMMETRIC DYNAMIC PRICING IN A LOCAL GASOLINE RETAIL MARKET

Journal of Industrial Economics (2008)

Felipe Balmaceda and Paula Soruco

Asymmetric-price adjustment is a common phenomenon in many markets around the world, particularly in retail gasoline markets. This paper studies ...

Vertical Integration in Unregulated Industries with Essential Facilities

Journal of Industrial Economics (2006)

Felipe Balmaceda and Eduardo Savedra

In this paper, we consider a market that is operated by a non-integrated monopoly upstream that owns an important essential ...

Firm-Sponsored General Training

Journal of Labor Economics (2005)

Felipe Balmaceda

This article analyzes firm and worker’s incentives to invest in general and specific training when these are separable in the ...

Oligopsony Power and Workers' outside Option.

Felipe Balmaceda

This paper develops a tractable oligopsony model based on the well-known \citepos{PerloffSalop1985} oligopoly model where workers' outside option is given ...