Related papers: Business Cycle and Conserved Quantity in Economics
A mechanism for the reduction of dynamic energy dissipation in the computing circuit is described. The resonant circuit with controlled switches conserves the stored energy by recovering upto 90% of energy that would be otherwise lost…
This study introduces an optimal mechanism in a dynamic stochastic knapsack environment. The model features a single seller who has a fixed quantity of a perfectly divisible item. Impatient buyers with a piece-wise linear utility function…
In this work we investigate the inefficiency of the electricity system with strategic agents. Specifically, we prove that without a proper control the total demand of an inefficient system is at most twice the total demand of the optimal…
We calculate the period of recurrence of dynamical systems comprising two interacting bosons. A number of theoretical issues related to this problem are discussed, in particular, the conditions for small periodicity. The knowledge gathered…
We consider a manufacturing plant that purchases raw materials for product assembly and then sells the final products to customers. There are M types of raw materials and K types of products, and each product uses a certain subset of raw…
This work is focused on optimal control of mechanical compression refrigeration systems. A reduced-order state-space model based on the moving boundary approach is proposed for the canonical cycle, which eases the controller design. The…
We investigate the dynamics of growth models in terms of dynamical system theory. We analyse some forms of knowledge and its influence on economic growth. We assume that the rate of change of knowledge depends on both the rate of change of…
In this paper, we analyze dynamic programming as a novel approach to solve the problem of maximizing the profits of a bank. The mathematical model of the problem and the description of a bank's work is described in this paper. The problem…
A fluid queuing network constitutes one of the simplest models in which to study flow dynamics over a network. In this model we have a single source-sink pair and each link has a per-time-unit capacity and a transit time. A dynamic…
We provide a characterization of revenue-optimal dynamic mechanisms in settings where a monopolist sells k items over k periods to a buyer who realizes his value for item i in the beginning of period i. We require that the mechanism…
The global production of electric goods is at an all-time high, causing negative environmental and health impacts as well as a continuing depletion of natural resources. Considering the worsening global climate change, a transition of…
We consider a piecewise linear two-dimensional dynamical system that couples a linear equation with the so-called stop operator. Global dynamics and bifurcations of this system are studied depending on two parameters. The system is…
We consider the dynamics of a model introduced recently by Bialas, Burda and Johnston. At equilibrium the model exhibits a transition between a fluid and a condensed phase. For long evolution times the dynamics of condensation possesses a…
Dynamic/kinematic model is of great significance in decision and control of intelligent vehicles. However, due to the singularity of dynamic models at low speed, kinematic models have been the only choice under many driving scenarios. This…
Volatile electrical energy prices are a challenge and an opportunity for small and medium-size companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can…
We introduce a dynamic model in which a developer incrementally improves a product of uncertain quality over time, with the quality evolving as a controlled Brownian motion. At each moment in time, the developer can continue exploring by…
We consider a dynamical system consisting of subsystems indexed by a lattice. Each subsystem has one conserved degree of freedom ("energy") the rest being uniformly hyperbolic. The subsystems are weakly coupled together so that the sum of…
This article gives the explicit solution to a general vector time series model that describes interacting, heterogeneous agents that operate under uncertainties but according to Keynesian principles, from which a model for business cycle is…
An optimal finite-time process drives a given initial distribution to a given final one in a given time at the lowest cost as quantified by total entropy production. We prove that for system with discrete states this optimal process…
These lecture notes are derived from a graduate-level course in dynamic optimization, offering an introduction to techniques and models extensively used in management science, economics, operations research, engineering, and computer…