Related papers: Multidimensional free-mobility equilibrium: Tiebou…

We present a general two-side market model with divisible commodities and price functions of participants. A general existence result on unbounded sets is obtained from its variational inequality re-formulation. We describe an extension of…

Optimal transport has become part of the standard quantitative economics toolbox. It is the framework of choice to describe models of matching with transfers, but beyond that, it allows to: extend quantile regression; identify discrete…

Motivated by empirical research on bias and opinion formation, we formulate a multidimensional nonlinear opinion-dynamical model where agents have individual biases, which are fixed, as well as opinions, which evolve. The dimensions…

We establish a general equilibrium theory for systems of large language model (LLM) agents operating under centralized orchestration. The framework is a production economy in the sense of Arrow-Debreu (1954), extended to…

The Walras approach to equilibrium focuses on the existence of market prices at which the total demands for goods are matched by the total supplies. Trading activities that might identify such prices by bringing agents together as potential…

We study fair allocation of constrained resources, where a market designer optimizes overall welfare while maintaining group fairness. In many large-scale settings, utilities are not known in advance, but are instead observed after…

In this work a physical modelling framework is presented, describing the intelligent, non-local, and anisotropic behaviour of pedestrians. Its phenomenological basics and constitutive elements are detailed, and a qualitative analysis is…

We introduce the notion of a multidimensional hybrid preference domain on a (finite) set of alternatives that is a Cartesian product of finitely many components. We demonstrate that in a model of public goods provision, multidimensional…

Monotonicity and recursivity are central assumptions in intertemporal consumption problems under ambiguity. We show that monotone recursive preferences admit both a recursive and an ex-ante representation, and that the certainty equivalent…

We study a model of competition among nomadic agents for time-varying and location-specific resources, arising in crowd-sourced transportation services, online communities, and traditional location-based economic activity. This model…

We propose a new approach to utilities that is consistent with state-dependent utilities. In our model utilities reflect the level of consumption satisfaction of flows of cash in future times as they are valued when the economic agents are…

The purpose of this paper is to present an idealized hypotheses-drawn model describing dynamics of variability in business and other social areas. A new construct is introduced called the Bayesian space of assessments to consider changes in…

We consider a model of nomadic agents exploring and competing for time-varying location-specific resources, arising in crowdsourced transportation services, online communities, and in traditional location based economic activity. This model…

Kinetic exchange models have been successful in explaining the shape of the income/wealth distribution in the economies. However, such models usually make some ad-hoc assumptions when it comes to determining the savings factor. Here, we…

This essay discusses the advantages of a probabilistic agent-based approach to questions in theoretical economics, from the nature of economic agents, to the nature of the equilibria supported by their interactions. One idea we propose is…

Research in examining the equity of service accessibility has emerged as economic and social equity advocates recognized that where people live influences their opportunities for economic development, access to quality health care and…

We consider an investor who, while maximizing his/her expected utility, also compares the outcome to a reference entity. We recall the notion of personal equilibrium and show that, in a multistep, generically incomplete financial market…

We provide simple models for the utility function (or psychology) of an actor trading a multitude of goods for money. In this framework, money has no intrinsic consumption value, but is required as a medium of exchange. A collection of such…

We develop a Markovian traffic equilibrium model for ride-hailing in which vehicles, whether empty or hired, make sequential order-acceptance and link-choice decisions over a traffic network to maximize total discounted return in an…

We investigate a class of binary choice models with social interactions. We propose a unifying perspective that integrates economic models using a utility function and psychological models using an impact function. A general approach for…