Introducing the Millennium Institute for Market Imperfections and Public Policy

The new research center in social sciences will be examining market imperfections and public policy, with the objective of creating awareness and provide relevant solution tools for the socio-economic development of Chile.

At the start of 2015, the Millennium Science Initiative(Spanish: ICM) announced to the general public the results of the 2013 Competition for the Millennium Institutes and Scientific Centers in the areas of Social Sciences and Natural and Exact Sciences.

The Millennium Institute for Research in Market Imperfections and Public Policy (MIPP) is a direct outcome of the above announcement, receiving financial support from ICM for an initial period of five years.

MIPP operates under the leadership of Juan Escobar as Director and Principal Researcher. Mr. Escobar holds a Civil Mathematics Engineering degree from the University of Chile, and a Ph.D. in Economics from Stanford University. Matteo Triossi, with an undergraduate degree in Mathematics from the University of Ferrara, Italy and a Ph.D. in Economics from Universidad Carlos III de Madrid, is the appointed Deputy Director for the Institute and will be concentrating his expertise on performing research in three main economic areas: Industrial Organization, Finance, and Political Economy.

The research initiatives of MIPP bring together a team of 15 researchers from top Chilean Universities, leaders in the national economic and public policy fields.  Alejandro Bernales, Elton Dusha, Rahmi Ilkilic, Alexandre Janiak, Carlos Noton, Marcela Valenzuela, Patricio Valenzuela, Benjamín Villena, Juan Escobar, and Matteo Triossi are from the Department of Industrial Engineering of the Faculty of Physical and Mathematical Sciences at the University of Chile; while Gastón Llanes, Joaquín Poblete, Felipe Balmaceda, Patricio Valdivieso, and Alejandro Corvalan join MIPP from Catholic University, Diego Portales University, and Los Lagos University.

One of the primary focuses of the researchers at MIPP is the study and understanding of the interaction of agents in different economic markets. In addition, the Institute will carry out research on other economic subjects such as collusion, mergers, financial markets, principal-agent models with hidden action and information, search models, and decision making, to name a few.