Related papers: Multidimensional free-mobility equilibrium: Tiebou…
We study the continuous time Kyle-Back model with a risk averse informed trader.We show that in a market with multiple assets and non-Gaussian prices an equilibrium exists. The equilibrium is constructed by considering a Fokker-Planck…
This paper presents a formulation of the reactive dynamic user equilibrium problem in continuum form using a network-level Macroscopic Fundamental Diagram (MFD). Compared to existing continuum models for cities -- all based in Hughes'…
We consider a sequential decision model over multi-tier supply chain networks and show that in particular, for series parallel networks, there is a unique equilibrium. We provide a linear time algorithm to compute the equilibrium and study…
The famous Afriat's theorem from the theory of revealed preferences establishes necessary and suffient conditions for existence of utility function for a given set of choices and prices. The result on existence of a {\it homogeneous}…
Markovian network equilibrium generalizes the classical Wardrop equilibrium in network games. At a Markovian network equilibrium, each player of the game solves a Markov decision process instead of a shortest path problem. We propose two…
Usability is a key quality attribute of successful software systems. Unfortunately, there is no common understanding of the factors influencing usability and their interrelations. Hence, the lack of a comprehensive basis for designing,…
This study proposes a mixed logit model with multivariate nonparametric finite mixture distributions. The support of the distribution is specified as a high-dimensional grid over the coefficient space, with equal or unequal intervals…
I introduce a stability notion, dynamic stability, for two-sided dynamic matching markets where (i) matching opportunities arrive over time, (ii) matching is one-to-one, and (iii) matching is irreversible. The definition addresses two…
A multi-dimensional switched system or multi-mode multi-dimensional ($M^3D$) system extends the classic switched system by allowing different subsystem dimensions. The stability problem of the $M^3D$ system, whose state transitions at…
We study the problem of computing all Pareto-optimal journeys in a public transit network regarding the two criteria of arrival time and number of transfers taken. In recent years, great advances have been made in making public transit…
We propose a simple statistical-physics-inspired model for the effect of intrinsic fluctuations on supply and demand in markets. The model consists of agents that trade in two types of goods of which the total number is separately…
We have used agent-based modeling as our numerical method to artificially simulate a dynamic real economy where agents are rational maximizers of an objective function of Cobb-Douglas type. The economy is characterised by heterogeneous…
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,…
In mainstream neoclassical economics, utility maximization is the only engine of individual action, and the other or the social, if it is modeled for decisions deemed fundamental, it is done as a tacit externality parameter affecting an…
We propose a variational framework for nonequilibrium thermodynamics built around the effective number of accessible state, a multiplicative count that ranges from for a uniform distribution to one under complete localization, and whose…
In [1] we presented a model for transactions when goods are given away in the expectation of a later settlement. In settings where people keep track of their social accounts we were able to redefine concepts like account balance, yield…
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 shift from private vehicles to public and shared transport is crucial to reducing emissions and meeting climate targets. Consequently, there is an urgent need to develop a multimodal transport trip planning approach that integrates…
Understanding under what conditions it is possible to construct equivalent ensembles is key to advancing our ability to connect microscopic and macroscopic properties of non-equilibrium statistical mechanics. In the case of fluid dynamical…
We study two stylized, multi-agent models aimed at investing a limited, indivisible resource in public transportation. In the first model, we face the decision of which potential stops to open along a (e.g., bus) path, given agents' travel…