2023
Autores
Martins, F; Pinto, AA; Zubelli, JP;
Publicação
MATHEMATICS
Abstract
In this work, we consider a classic international trade model with two countries and one firm in each country. The game has two stages: in the first stage, the governments of each country use their welfare functions to choose their tariffs either: (a) competitively (Nash equilibrium) or (b) cooperatively (social optimum); in the second stage, firms competitively choose (Nash) their home and export quantities under Cournot-type competition conditions. In a previous publication we compared the competitive tariffs with the cooperative tariffs and we showed that the game is one of the two following types: (i) prisoner's dilemma (when the competitive welfare outcome is dominated by the cooperative welfare outcome); or (ii) a lose-win dilemma (an asymmetric situation where only one of the countries is damaged in the cooperative welfare outcome, whereas the other is benefited). In both scenarios, their aggregate cooperative welfare is larger than the aggregate competitive welfare. The lack of coincidence of competitive and cooperative tariffs is one of the main difficulties in international trade calling for the establishment of trade agreements. In this work, we propose a welfare-balanced trade agreement where: (i) the countries implement their cooperative tariffs and so increase their aggregate welfare from the competitive to the cooperative outcome; (ii) they redistribute the aggregate cooperative welfare according to their relative competitive welfare shares. We analyse the impact of such trade agreement in the relative shares of relevant economic quantities such as the firm's profits, consumer surplus, and custom revenue. This analysis allows the countries to add other conditions to the agreement to mitigate the effects of high changes in these relative shares. Finally, we introduce the trade agreement index measuring the gains in the aggregate welfare of the two countries. In general, we observe that when the gains are higher, the relative shares also exhibit higher changes. Hence, higher gains demand additional caution in the construction of the trade agreement to safeguard the interests of the countries.
2023
Autores
Almeida, JP; Geraldes, CS; Lopes, IC; Moniz, S; Oliveira, JF; Pinto, AA;
Publicação
Springer Proceedings in Mathematics & Statistics
Abstract
2023
Autores
Hoshiea, M; Mousa, AS; Pinto, AA;
Publicação
OPTIMIZATION
Abstract
We consider a continuous lifetime model for investor whose lifetime is a random variable. We assume the investor has an access to the social welfare system, the financial market and the life insurance market. The investor aims to find the optimal strategies that maximize the expected utility obtained from consumption, investing in the financial market, buying life insurance, registering in the social welfare system, the size of his estate in the event of premature death and the size of his fortune at time of retirement if he lives that long. We use dynamic programming techniques to derive a second-order nonlinear partial differential equation whose solution is the maximum objective function. We use special case of discounted constant relative risk aversion utilities to find an explicit solutions for the optimal strategies. Finally, we have shown a numerical solution for the problem under consideration and study some properties for the optimal strategies.
2023
Autores
Soeiro, R; Pinto, AA;
Publicação
PORTUGUESE ECONOMIC JOURNAL
Abstract
We show that in finite settings with identical firms and consumers, asymmetric pure price equilibria with positive profits exist. We consider a price competition duopoly for a homogeneous product. Demand stems from a second-stage consumption game at posted prices, with consumers' behavior impacted by negative network effects. We characterize equilibrium prices and demand. In all subgame-perfect pure price equilibria, both firms have positive profits, and in some, firms charge different prices.
2023
Autores
Accinelli, E; Hernández Lerma, O; Hervés Beloso, C; Neme, A; Oliveira, BMPM; Pinto, AA; Yannacopoulos, AN;
Publicação
JOURNAL OF DYNAMICS AND GAMES
Abstract
2023
Autores
Soeiro, R; David, G; Neves, AMA;
Publicação
Abstract
We implemented Discord as a pedagogical tool in the academic year of 2021/2022 in two mathematics curricular units of the first year of an Informatics Engineering university program. We analyze and discuss the experience, reflecting on usability and influence on learning processes and engagement. We compare the impact of using the platform: 1) when combined with different methodological and pedagogical approaches and 2) to previous years with other (or none) classic virtual forums.
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