Related papers: Oligopoly Dynamics
Artificial intelligence algorithms are increasingly used by firms to set prices. Previous research shows that they can exhibit collusive behaviour, but how quickly they can do so has so far remained an open question. I show that a modern…
Continual learning aims to learn multiple tasks sequentially. A key challenge in continual learning is balancing between two objectives: retaining knowledge from old tasks (stability) and adapting to new tasks (plasticity). Experience…
The Triple Helix of university-industry-government relations is elaborated into a systemic model that accounts for interactions among three dimensions. By distinguishing between the respective micro-operations, this model enables us to…
We consider the problem of how to regulate an oligopoly when firms have private information about their costs. In the environment, consumers make discrete choices over goods, and minimal structure is placed on the manner in which firms…
In this pedagogical study, carried out by adopting standard mathematical methods of nonlinear dynamics, we have presented some simple analytical models to understand terminal behaviour in industrial growth. This issue has also been…
Online bipartite matching (OBM) is a fundamental model underpinning many important applications, including search engine advertisement, website banner and pop-up ads, and ride-hailing. We study the i.i.d. OBM problem, where one side of the…
We develop novel integrated learning and optimization (ILO) methodologies to solve economic dispatch (ED) and DC optimal power flow (DCOPF) problems for better economic operation. The optimization problem for ED is formulated with load…
We present an analysis of advertising activities in a dynamic oligopoly with differentiated goods by differential game approach under general demand and cost functions. Mainly we show the following results. The comparison of the open-loop…
This paper explores the use of deep residual networks for pricing European options on Petrobras, one of the world's largest oil and gas producers, and compares its performance with the Black-Scholes (BS) model. Using eight years of…
We consider an economy made of competing firms which are heterogeneous in their capital and use several inputs for producing goods. Their consumption policy is fixed rationally by maximizing a utility and their capital cannot fall below a…
The existence of asymmetric information has always been a major concern for financial institutions. Financial intermediaries such as commercial banks need to study the quality of potential borrowers in order to make their decision on…
This is the write-up of the talk I gave at the 23rd International Symposium on Mathematical Programming (ISMP) in Bordeaux, France, July 6th, 2018. The talk was a general overview of the state of the art of time-varying, mainly convex,…
This paper studies Markov perfect equilibria in a repeated duopoly model where sellers choose algorithms. An algorithm is a mapping from the competitor's price to own price. Once set, algorithms respond quickly. Customers arrive randomly…
Continual Learning (CL) aims to incrementally acquire new knowledge while mitigating catastrophic forgetting. Within this setting, Online Continual Learning (OCL) focuses on updating models promptly and incrementally from single or small…
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…
Imitation Learning (IL) has proven highly effective for robotic and control tasks where manually designing reward functions or explicit controllers is infeasible. However, standard IL methods implicitly assume that the environment dynamics…
The standard problem setting in Dec-POMDPs is self-play, where the goal is to find a set of policies that play optimally together. Policies learned through self-play may adopt arbitrary conventions and implicitly rely on multi-step…
This paper provides a comprehensive analysis of welfare measures when oligopolistic firms face multiple policy interventions and external changes under general forms of market demands, production costs, and imperfect competition. We present…
A seller offers a buyer a schedule of transfers and associated product qualities. After observing this schedule, the buyer chooses a flexible costly signal about his type. We show it is without loss to focus on a class of mechanisms that…
Standard models in economics stress the role of intelligent agents who maximize utility. However, there may be situations where, for some purposes, constraints imposed by market institutions dominate intelligent agent behavior. We use data…