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Using the Minority Game model we study a broad spectrum of problems of market mechanism. We study the role of different types of agents: producers, speculators as well as noise traders. The central issue here is the information flow :…
We investigate the interaction between the product of invariant types and domination-equivalence. We present a theory where the latter is not a congruence with respect to the former, provide sufficient conditions for it to be, and study the…
This article reviews the recent advances in the uniqueness and multiplicity of competitive equilibria in models arising in mathematical economics, finance, macroeconomics, and trade.
The aim of this paper is to reemphasize the money theory of exchange which is centered on the function of exchange medium of money, and make a contribution towards linearization of the quantity equation of exchange. A dynamical quantity…
We introduce a system of kinetic equations describing an exchange market consisting of two populations of agents (dealers and speculators) expressing the same preferences for two goods, but applying different strategies in their exchanges.…
Money was invented to address the difficulty in the double coincidence of wants between the supply and demand when people exchanged their goods and services. There are two information states in society: one is the initial state that people…
The quest of this work is to present discussions of some fundamental questions of economics in the era of quantum technology, which require a treatment different from economics studied thus far in the literature. A study of quantum economic…
In this paper, we investigate the economic mobility in some money transfer models which have been applied into the research on wealth distribution. We demonstrate the mobility by recording the time series of agents' ranks and observing…
This paper models firm-to-firm trade in a production network as a set of double auctions. Firms have multilateral market power, namely, can affect prices in both input and output markets. The size and division of surplus are endogenous and…
When society maintains a competitive system to promote an abstract goal, competition by necessity relies on imperfect proxy measures. For instance profit is used to measure value to consumers, patient volumes to measure hospital…
We study the entanglement of a multipartite quantum state. An inequality between the bipartite concurrence and the multipartite concurrence is obtained. More effective lower and upper bounds of the multipartite concurrence are obtained. By…
In this paper, we study multi-agent systems with decentralized resource allocations. Agents have local demand and resource supply, and are interconnected through a network designed to support sharing of the local resource; and the network…
We model competition on a credence goods market governed by an imperfect label, signaling high quality, as a rank-order tournament between firms. In this market interaction, asymmetric firms jointly and competitively control the aggregate…
We study an interacting agent model of a game-theoretical economy. The agents play a minority-subsequently-majority game and they learn, using backpropagation networks, to obtain higher payoffs. We study the relevance of heterogeneity to…
Motivated by recent progress on pricing in the AI literature, we study marketplaces that contain multiple vendors offering identical or similar products and unit-demand buyers with different valuations on these vendors. The objective of…
We investigate the dynamics of two agent based models of language competition. In the first model, each individual can be in one of two possible states, either using language $X$ or language $Y$, while the second model incorporates a third…
We propose generalizations of concurrence for multi-partite quantum systems that can distinguish qualitatively distinct quantum correlations. All introduced quantities can be evaluated efficiently for arbitrary mixed sates.
The bounds on concurrence of the superposition state in terms of those of the states being superposed are studied in this paper. The bounds on concurrence are quite different from those on the entanglement measure based on von Neumann…
We present examples of agent-based and stochastic models of competition and business processes in economics and finance. We start from as simple as possible models, which have microscopic, agent-based, versions and macroscopic treatment in…
Competition networks are formed via adversarial interactions between actors. The Dynamic Competition Hypothesis predicts that influential actors in competition networks should have a large number of common out-neighbors with many other…