Related papers: General Equilibrium as a Topological Field Theory
From some observations on economic behaviors, in particular changing economic conditions with time and space, we develop a very simple model for the evolution of economic entities within a geographical type of framework. We raise a few…
The fluctuation theorems have remained one of the cornerstones in the study of systems that are driven far out of equilibrium, and they provide strong constraints on the fraction of trajectories that behave atypically in light of the second…
How do decisions change with the economic environment and with time? This paper studies general nonstationary stopping problems and provides the methodological tools to answer these questions. First, we identify conditions that ensure a…
We consider a large class of social learning models in which a group of agents face uncertainty regarding a state of the world, share the same utility function, observe private signals, and interact in a general dynamic setting. We…
We propose a general form for global analytic equations of state for which close to critical points, the correct universality and scaling behavior is guaranteed. A consequence of the construction is that the generally accepted belief that…
The circumstances under which a system reaches thermal equilibrium, and how to derive this from basic dynamical laws, has been a major question from the very beginning of thermodynamics and statistical mechanics. Despite considerable…
For simple inflationary models, we provide a consistent and complete scheme by which the macro-physical details of early universe inflation may be determined explicitly from the underlying micro-physical theory. We examine inflationary…
Motivated by the climate crisis that is currently ravaging the planet, we propose and analyze a novel framework for the evolution of anthropogenic climate impact in which the evolution of human environmental behavior and environmental…
Scientific fields differ in terms of their subject matter, research techniques, collaboration sizes, rates of growth, and so on. We investigate whether common dynamics might lurk beneath these differences, affecting how scientific fields…
Departing from the dominant approach focused on individual and meso-level determinants, this paper develops a macroeconomic formalization of job insecurity within a New Keynesian framework in which the standard IS-NKPC-Taylor rule block is…
We characterize the conditions under which a multi-time quantum process with a finite temporal resolution can be approximately described by an equilibrium one. By providing a generalization of the notion of equilibration on average, where a…
We present a construction of non-equilibrium steady states in one-dimensional quantum critical systems carrying energy and charge fluxes. This construction is based on a scattering approach within a real-time hamiltonian reservoir…
The so called "globalization" process (i.e. the inexorable integration of markets, currencies, nation-states, technologies and the intensification of consciousness of the world as a whole) has a behavior exactly equivalent to a system that…
A standard line in the contemporary philosophical literature has it that physical theories are equivalent only when they agree on their empirical content, where this empirical content is often understood as being encoded in the equations of…
We construct a stochastic dynamical systems theory in which sustainability is a structural boundary property of a fully coupled Earth--Human--Production system. Each subsystem is modelled as a vector-valued process governed by stochastic…
Stability is a fundamental notion in dynamical systems and control theory that, traditionally understood, describes asymptotic behavior of solutions around an equilibrium point. This notion may be characterized abstractly as continuity of a…
We combine general equilibrium theory and theorie generale of stochastic processes to derive structural results about equilibrium state prices.
Geometrical approach to the phenomenological theory of phase transitions of the second kind at constant pressure $P$ and variable temperature $T$ is proposed. Equilibrium states of a system at zero external field and fixed $P$ and $T$ are…
We show that in the context of exchange economies defined by aggregate excess demand functions on the full open price simplex, the generic economy has a finite number of equilibria. Genericicity is proved also for critical economies and, in…
Many economic theory models incorporate finiteness assumptions that, while introduced for simplicity, play a real role in the analysis. We provide a principled framework for scaling results from such models by removing these finiteness…