A Minimal Thermodynamic Framework for Economic Dynamics
with Arthur Kalb (Link to: Working Paper; Matlab Code)
Inspired by Georgescu-Roegen and biophysical economics, we propose a framework using energy as the sole input and output. It models the economy as energy flows among three reservoirs: humans, the environment, and finite resources. The goal is to outline the physical limits of energy policies and serve as a benchmark for a non-Malthusian steady state. Calibration shows that the economy acts like a damped harmonic oscillator, indicating that perpetual growth violates thermodynamics and that energy limits imply degrowth.
Upstream Reciprocity in the Battle of Good vs Evil (Link to: Working Paper; Link to: data & do-files)
In this article, we investigate the effect of an initial social interaction on subsequent interactions, a phenomenon called upstream reciprocity. We investigate both positive interaction and a negative initial interaction that can be reciprocated to the next participant. The observed behavior is correlated with a survey question on trust taken from the World Value Survey (WVS). Results present evidence in favor of positive upstream reciprocity but are skeptical of its negative counterpart. A previous social interaction has a differentiated effect depending on self-reported trust and the way the interaction takes place.
Currently under review at Games and Economic Behavior
Presented at:
2022 North American ESA Meeting (Economic Science Association). University of California, Santa Barbara.
BABEEW (Bay Area Behavioral and Experimental Economics Workshop) 2023. San José State University.
Donations and Expectations (Link to: Working Paper)
We investigate donation behavior and its dependence on expectations in the form of second order beliefs. The relationship is studied in a laboratory context through a modified third-party dictator game where the receiving end is a charitable organization and the third party is a peer with a history of volunteering for charity and whose role in the game is to provide an expectation in the organization's behalf. Results show a prevalence of guilt-averse behavior and a preference for salient expectations among the guilt-averse population.
Presented at:
2020 ESA Global Online Around-the-Clock Meetings. Online Conference.
BABEEW (Bay Area Behavioral and Experimental Economics Workshop) 2022. University of California, Santa Cruz.
WEAI 97th Annual Conference (Western Economic Association International). Portland, Oregon.
Projected Gradient Variants for Sparse Reconstruction (Bachelor Thesis).
The thesis was awarded a mention in the XVII ExITAM Research Award (link in Spanish).
The full document in Spanish can be found here.