Research

Publications

“The Social Value of Information with an Endogenous Public Signal”, Economic Theory (2018), 66(4), 1059-1087. DOI: 10.1007/s00199-017-1081-9.
The paper analyses the equilibrium and welfare properties of an economy characterised by uncertainty and payoff externalities in a general model which nests several applications.
“Silent Financial Interests and Product Innovation” (with Ángel L. López), Economics Letters (2018), 170, 109-112. DOI: 10.1016/j.econlet.2018.06.007. Online Appendix. 
We analyse R&D investments, competition, and welfare in markets where investors have asymmetric passive partial ownership holdings in rival firms.
“Reinhard Selten, the dualist,” (with Rosemarie Nagel, Reza Kheirandish and Shabnam Mousavi), in  Routledge Handbook of Behavioral Economics (Roger Frantz, Shu-Heng Chen, Kurt Dopfer, Floris Heukelom, Shabnam Mousavi, eds.), pp. 66-87, July 2016.
Book chapter which reviews Reinhard Selten’s School of Thought on economic behaviour from the perspectives of economic theory and experimentation. 

Working papers

“Information Frictions and Market Power: A Laboratory Study” (with Jordi Brandts and Xavier Vives), CEPR Discussion Paper No. DP11378, January 2020. Online Appendix. R&R Games and Economic Behavior.
We design an experiment to understand whether informational frictions can lead to market power in a context of supply function competition with private information.
“Information and Optimal Trading Strategies with Dark Pools” (with Ariadna Dumitrescu and Carolina Manzano), February 2020. Internet Appendix
We study the competition between two trading venues with different degrees of transparency: a fully transparent exchange and an opaque dark pool. We analyse the market quality implications of introducing a dark pool alongside an exchange.
“Financial Contagion and the Wealth effect: an Experimental Study” (with Oana Peia), January 2020.
We design an experiment to understand whether the wealth effect is a source of financial contagion in markets with unrelated fundamentals. 
“Incentives to acquire non-controlling minority stakes revisited” (with Angel L. López and Anton-Giulio Manganelli), February 2020.

Book reviews & popular press

[Review of the book Phishing for Phools: The Economics of Manipulation and Deception, by George A. Akerlof and Robert J. Shiller], Observatorio de las Ideas, 34: 17-22, January 2016.