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The cooperation mechanism of indirect reciprocity has been studied by making multiple variations of its parts. This research proposes a new variant of Nowak and Sigmund model, focused on agents' attitude; it is called Individualistic…
The notion that economies should normally be in equilibrium is by now well-established; equally well-established is that economies are almost never precisely in equilibrium. Using a very general formulation, we show that under dynamics that…
Bilateral trade is a fundamental economic scenario comprising a strategically acting buyer and seller, each holding valuations for the item, drawn from publicly known distributions. A mechanism is supposed to facilitate trade between these…
The combination of the network theoretic approach with recently available abundant economic data leads to the development of novel analytic and computational tools for modelling and forecasting key economic indicators. The main idea is to…
We consider the bilateral trade problem, in which two agents trade a single indivisible item. It is known that the only dominant-strategy truthful mechanism is the fixed-price mechanism: given commonly known distributions of the buyer's…
Hydrodynamic equations for a binary mixture of inelastic hard spheres are derived from the Boltzmann kinetic theory. A normal solution is obtained via the Chapman-Enskog method for states near the local homogeneous cooling state. The mass,…
Many features of granular media can be modeled by a fluid of hard spheres with inelastic collisions. Under rapid flow conditions, the macroscopic behavior of grains can be described through hydrodynamic equations accounting for dissipation…
Generalized Hydrodynamics is a recent theory that describes the large scale transport properties of one dimensional integrable models. At the heart of this theory lies an exact quantum-classical correspondence, which states that the flows…
Modeling distributions that depend on external control parameters is a common scenario in diverse applications like molecular simulations, where system properties like temperature affect molecular configurations. Despite the relevance of…
Energy security and energy trade are the cornerstones of global economic and social development. The structural robustness of the international oil trade network (iOTN) plays an important role in the global economy. We integrate the machine…
A dynamic model of the social relations between workers and capitalists is introduced. The model is deduced from the assumption that the law of value is an organising principle of modern economies. The model self-organises into a dynamic…
We consider the impact of fairness requirements on the social efficiency of truthful mechanisms for trade, focusing on Bayesian bilateral-trade settings. Unlike the full information case in which all gains-from-trade can be realized and…
Global trade of material goods involves the potential to create pathways for the spread of infectious pathogens. One trade sector in which this synergy is clearly critical is that of wildlife trade networks. This highly complex system…
A dynamical model of capital exchange is introduced in which a specified amount of capital is exchanged between two individuals when they meet. The resulting time dependent wealth distributions are determined for a variety of exchange…
The relativistic hydrodynamic model is applied to describe the expansion of the dense matter formed in relativistic heavy-ion collisions. The hydrodynamic expansion of the fluid, supplemented with the statistical emission of hadrons at…
Hydrodynamics and quantum mechanics have many elements in common, as the density field and velocity fields are common variables that can be constructed in both descriptions. Starting with the Schroedinger equation and the Klein-Gordon for a…
We study the bilateral trade problem where a seller owns a single indivisible item, and a potential buyer seeks to purchase it. Previous mechanisms for this problem only considered the case where the values of the buyer and the seller are…
Equations of State model relations between thermodynamic variables and are ubiquitous in scientific modelling, appearing in modern day applications ranging from Astrophysics to Climate Science. The three desired properties of a general…
As countries develop, the relative importance of agriculture declines and economic activity becomes spatially concentrated. We develop a model integrating structural change and regional disparities to jointly capture these phenomena. A key…
Decisions on how to manage future flood risks are frequently informed by both sophisticated and computationally expensive models. This complexity often limits the representation of uncertainties and the consideration of strategies. Here, we…