Related papers: Firm Entry and Exit with Unbounded Productivity Gr…
The rate function for large deviations of the finite time Lyapunov exponent for the derived process in TM corresponding to a stochastic differential equation in M is related, via the Gartner-Ellis theorem, to the p-th moment Lyapunov…
We study a steady state of a free entry oligopoly with differentiated goods, that is, a monopolistic competition, with sluggish adjustment of entry and exit of firms under general demand and cost functions by a differential game approach.…
We prove the existence of a competitive equilibrium in a production economy with infinitely many commodities and a measure space of agents whose preferences are price dependent. We employ a saturated measure space for the set of agents and…
Retransmission-based failure recovery represents a primary approach in existing communication networks that guarantees data delivery in the presence of channel failures. Recent work has shown that, when data sizes have infinite support,…
This paper quantifies the ergodicity and the rate of decay of the tail of the stationary distribution for a broad class of storage models, encompassing constant, linear, and power-type release rates with both finite and infinite activity…
The transport of products between different suppliers or production units can be described similarly to driven many-particle and traffic systems. We introduce equations for the flow of goods in supply networks and the adaptation of…
We address the question of the growth of firm size. To this end, we analyze the Compustat data base comprising all publicly-traded United States manufacturing firms within the years 1974-1993. We find that the distribution of firm sizes…
The contribution of this paper is to introduce change of measure based techniques for the rare-event analysis of heavy-tailed stochastic processes. Our changes-of-measure are parameterized by a family of distributions admitting a mixture…
We study the largest Lyapunov exponent $\lambda$ and the finite size effects of a system of N fully-coupled classical particles, which shows a second order phase transition. Slightly below the critical energy density $U_c$, $\lambda$ shows…
Fluctuation theorem is one of the major achievements in the field of nonequilibrium statistical mechanics during the past two decades. Steady-state fluctuation theorem of sample entropy production rate in terms of large deviation principle…
In this paper we summarize the main parts of the first exit time theory developed in connection to the life table data and the resulting theoretical and applied issues. Several new tools arise from the development of this theory and…
The aim of this work is to establish the personal income distribution from the elementary constituents of a free market; products of a representative good and agents forming the economic network. The economy is treated as a self-organized…
In a recent Nature paper, Gabaix et al. \cite{Gabaix03} presented a theory to explain the power law tail of price fluctuations. The main points of their theory are that volume fluctuations, which have a power law tail with exponent roughly…
We consider bounded extremum seeking controls for time-varying linear systems with uncertain coefficient matrices and measurement uncertainty. Using a new change of variables, Lyapunov functions, and a comparison principle, we provide…
We consider the passage time problem for L\'evy processes, emphasising heavy tailed cases. Results are obtained under quite mild assumptions, namely, drift to $-\infty$ a.s. of the process, possibly at a linear rate (the finite mean case),…
The methodology based on the random walk processes is adapted and applied to a comprehensive analysis of the statistical properties of the probability fluxes. To this aim we define a simple model of the Markovian stochastic dynamics on a…
The standard framing treats structured human-data work as transitional, a bridge between today's imperfect models and a future state where automation is complete. We challenge this view by modeling structured human data as a persistent…
A simple model of biological extinction with variable system size is presented that exhibits a power-law distribution of extinction event sizes. The model is a generalization of a model recently introduced by Newman (Proc. R. Soc. Lond.…
We consider a population organised hierarchically with respect to size in such a way that the growth rate of each individual depends only on the presence of larger individuals. As a concrete example one might think of a forest, in which the…
We determine the distribution of size and growthrates of German business firms in 1987-1997. We find a log-normal size distribution. The distribution of growth rates has fat tails. It can be fitted to an exponential in a narrow central…