Morganti, Paolo Riccardo
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Morganti, Paolo Riccardo
Official Name
Morganti, Paolo Riccardo
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pmorganti
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ORCID
Scopus Author ID
57417762600
Researcher ID
GOP-3460-2022

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Existence and uniqueness of price equilibria in location-based models of differentiation with full coverage

2022 , Hernández Cortés, Janko , Morganti, Paolo Riccardo

Abstract In location-based models of price competition, traditional sufficient conditions for existence and uniqueness of an equilibrium (Caplin and Nalebuff in Econometrica 59(1):25–59) are not robust for the firm that serves the right-tail of the consumers’ distribution. Interestingly, as we relax these conditions, we observe only two new alternative cases. Moreover, we identify a novel, easily testable condition for uniqueness that is weaker than log-concavity and that can also apply to Mechanism Design. Thanks to this general framework, we can solve the equilibrium of general vertical differentiation models numerically and show that inequality has a U-shaped effect on profits and prices of a high-quality firm. Moreover, we prove that extreme levels of concentration can dissolve natural monopolies and restore competition, contrary to the Uniform case.

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Finally Back to Campus? Motivations for Facemask Adoption in the Higher Education Sector

2022 , Morganti, Paolo Riccardo , Terán-Bustamante, Antonia , Murillo Othón, Enrique Martín

The COVID-19 pandemic caused an unprecedented crisis in the higher education sector through campuses closing worldwide. To contain the disease, authorities required their citizens to wear facemasks in public spaces. As universities return to in-person instruction, they will probably require all students to wear facemasks while on-campus. This study examined antecedents of voluntary adoption of facemasks through a survey of students enrolled in Mexico City universities in the Fall of 2020. It was hypothesized that Social Value Orientation (SVO) and Trust would be positively related to facemask adoption. Findings revealed that among students, wearing a facemask reflects distinct conducts depending on the social context. Regression results show that SVO and Trust significantly predict facemask use but only in some contexts, giving partial support to hypotheses. A key implication is that public health communications should avoid general messages recommending facemasks, and craft more nuanced appeals targeting specific social contexts. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.

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The Perils of Asymmetrical Technological Changes in a Knowledge Economy with Complete Markets

2023 , Morganti, Paolo Riccardo , Valdés, Rosa Carolina

How does the asymmetrical adoption of advanced communication technology affect economic and social sustainability? We examined the impact of Industry 4.0 on these two pillars of sustainability, focusing on the productivity divide arising from the asymmetric adoption of advanced technologies. We used a theoretical, general equilibrium model to describe a population within a knowledge economy with complete markets who gets exposed to a generally available advanced technology. Our main assumption was that only the more-knowledgeable individuals are able to adopt or fully benefit from the technology, leaving the unskilled ones behind. We demonstrate that this asymmetry prevents the property of positive sorting to apply, leading to a failure to sustain an equilibrium. The divide between knowledgeable and less-skilled individuals poses challenges for workers situated around the boundary, who face penalties in terms of employability and cost-effectiveness. Bridging this skill gap is crucial for inclusive growth. Policy recommendations include retraining programs, accessible education, and targeted policies promoting technology diffusion. As a possible extension, the model could be adapted to analyze collective bargaining agreements.

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Extreme Value Theory and Auction Models

2021 , Morganti, Paolo Riccardo

The objective of this article is to develop a parametric approach to estimating auctions with incomplete data using Extreme Value Theory (EVT). The methodology is mainly theoretical: we first review that, when only transaction prices can be observed, the distribution of private valuations is irregularly identified. The sample bias produced by nonparametric estimators will affect all functionals of practical interest. We provide simulations for a best-case scenario and a worst-case scenario. Our results show that, compared to nonparametric approaches, the approximation of such functionals developed using EVT produces more accurate results, is easy to compute, and does not require strong assumptions about the unobserved distribution of bidders' valuations. It is recommended that financial operators working with auctions use this parametric approach when facing incomplete datasets. Given the difficult nature of the analysis, this work does not provide large sample properties for the proposed estimators and recommends the use of bootstrapping. This article contributes originally to the literature of structural estimation of auction models providing a useful and robust parametric approximation.

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