La Facultad de Economía y Negocios de la Universidad Alberto Hurtado en conjunto con la Facultad de Economía y Negocios de la Universidad Andrés Bello, tienen el agrado de invitarte a un nuevo Seminario Académico de Economía 2021.

En esta ocasión Federico Weinschelbaum, profesor de la Universidad Torcuato Di Tella, presentará su trabajo «Theft in Equilibrium», co-autoreado con Casilda Lasso de la Vega de la University of the Basque Country y Oscar Volij de Ben Gurion University).

Abstract: 

We incorporate theft into the standard partial equilibrium model. We focus on two scenarios, one in which the whole wealth is subject to theft, and another in which only final goods are stealable. There are major differences between the two scenarios. In the first one, a policy that increases output reduces crime, which is not necessarily so in the second one. In the first model, public police protection reduces crime, but in the second one it may very well increase it. In the first model, the competitive equilibrium allocates private police efficiently conditional on the crime rate, but doesn’t in the second model. The differences are due to the fact that while in both models output markets affect crime, only in the second model does crime affect output markets.

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