Related papers: General Equilibrium as a Topological Field Theory
In this paper, we construct an analytical model of the data economy with empirical evidence to explain the nexus between dataization and technological progress in general equilibrium. Data originates from the dataization of firm total…
Economic and financial networks play a crucial role in various important processes, including economic integration, globalization, and financial crises. Of particular interest is understanding whether the temporal evolution of a real…
Apparent biodiversity on earth exists only if we compare different species separated from their environments. Meanwhile coexisting species have to be identical in terms of energetic interactions. Consider the biosphere as a network of…
Topology forms a cornerstone in modern condensed matter and statistical physics, offering a new framework to classify the phases and phase transitions beyond the traditional Landau paradigm. However, it is widely believed that topological…
We construct a field theory to describe energy averaged quantum statistical properties of systems which are chaotic in their classical limit. An expression for the generating function of general statistical correlators is presented in the…
The notion of topological equivalence plays an essential role in the study of dynamical systems of flows. However, it is inherently difficult to generalize this concept to systems without well-posedness in the sense of Hadamard. In this…
Harmonic theory provides a mathematical framework to describe the structure, behavior, evolution and emergence of harmonic systems. A harmonic system is context aware, contains elements that manifest characteristics either collaboratively…
The kinetic field theory is developed without assumptions of statistical homogeneity and isotropy. In a solvable toy model with short-ranged interactions, we compare first-order perturbation theory to an iterated mean-field approximation…
Equilibrium thermodynamics describes the energy exchange of a body with its environment. Here, we describe the global energy exchange of an ideal gas in the Coutte flow in a thermodynamic-like manner. We derive a fundamental relation…
The concept of (auto)catalytic systems has become a cornerstone in understanding evolutionary processes in various fields. The common ground is the observation that for the production of new species/goods/ideas/elements etc. the…
The GENERIC theory provides a framework for the description of non-equilibrium phenomena in isolated systems beyond local thermal equilibrium and beyond linear non-equilibrium (i.e., linear relations between thermodynamic forces and…
Topology in momentum space is the main characteristics of the ground states of a system at zero temperature, the quantum vacua. The gaplessness of fermions in bulk, on the surface or inside the vortex core is protected by topology.…
This paper revisits the Arrow-Debreu general equilibrium framework through the lens of effective trade, emphasizing the distinction between theoretical and realizable market interactions. We develop the Effective Trade Model (ETM), where…
We consider the general free field theory such that system of equations of motion includes a subsystem with a special property. If the subsystem is considered by itself, it would be a topological field theory having no local degrees of…
We consider homogeneous non-abelian vector fields with general potential terms in an expanding universe. We find a mechanical analogy with a system of N interacting particles (with N the dimension of the gauge group) moving in three…
We develop a continuous-time general equilibrium framework for economies with a heterogeneous population -- modeled as a continuum -- that repeatedly optimizes over short horizons under relative-income (Duesenberry-type) criteria. The…
An heuristic model of the society, as an assembly of weakly interacting individuals, is discussed. The model allows to connect macroscopic phenomena with features of relations between individuals. Addressing to the problem of inequality, a…
The Generalized Nash Equilibrium Problem refers to the question of the existence of a Nash equilibrium in an abstract economy. This model is due to Kenneth J. Arrow and Gerard Debreu in their pioneering work from 1954. An abstract economy…
We introduce and study a non-equilibrium continuous-time dynamical model of the price of a single asset traded by a population of heterogeneous interacting agents in the presence of uncertainty and regulatory constraints. The model takes…
We consider piecewise linear discrete time macroeconomic models, which possess a continuum of equilibrium states. These systems are obtained by replacing rational inflation expectations with a boundedly rational, and genuinely sticky,…