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In the over-the-counter market in derivatives, we sometimes see large numbers of traders taking the same position and risk. When there is this kind of concentration in the market, the position impacts the pricings of all other derivatives…
In wholesale electricity markets, prices fluctuate widely from hour to hour and electricity generators price-hedge their output using longer-term contracts, such as monthly base futures. Consequently, the incentives they face to drive up…
We propose a continuous-time stock-flow consistent model for inventory dynamics in an economy with firms, banks, and households. On the supply side, firms decide on production based on adaptive expectations for sales demand and a desired…
This paper develops robust inference methods for predictive regressions that address key challenges posed by endogenously persistent or heavy-tailed regressors, as well as persistent volatility in errors. Building on the Cauchy estimation…
The HCI community has called for renewed attention to labor issues and the political economy of computing. Yet much work remains in engaging with labor theory to better understand modern work and workers. This article traces the development…
Anchoring is a term used in psychology to describe the common human tendency to rely too heavily (anchor) on one piece of information when making decisions. A trading algorithm inspired by biological motors, introduced by L. Gil\cite{Gil},…
Do labor market policies initiated in periods of loose monetary policy yield different outcomes from those introduced when monetary tightening prevails? Using data from 11 euro-area members up to 2010 -- and extending to 17 countries up to…
When deploying artificial skills, decision-makers often assume that layering human oversight is a safe harbor that mitigates the risks of full automation in high-complexity tasks. This paper formally challenges the economic validity of this…
Industrial refrigeration systems have substantial energy needs, but optimizing their operation remains challenging due to the tension between minimizing energy costs and meeting strict cooling requirements. Load shifting--strategic…
We consider continuous-time mean-field stochastic games with strategic complementarities. The interaction between the representative productive firm and the population of rivals comes through the price at which the produced good is sold and…
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 workload model using the infinite source Poisson model for bursts is combined with the on--off model for within burst activity. Burst durations and on--off durations are assumed to have heavy-tailed distributions with infinite variance…
Constructing an ontology for quantum theory is challenging, in part due to unavoidable measurement back-action. The Aharonov-Albert-Vaidman weak measurement formalism provides a method to predict measurement results (weak values) in a…
This work analyzes the tourist sector, the employment generated by the tourism industries, and its relationship with tourism receipts. The hypothesis is that there are tourist subsectors with a potentially higher level of income. The…
Policy makers and managers sometimes assess the share of research produced by a group (country, department, institution). This takes the form of the percentage of publications in a journal, field or broad area that has been published by the…
We analyze the Rybczynski sign pattern, which expresses the factor endowment - commodity output relationships in a three-factor, two-good general equilibrium trade model. The relationship determines whether a strong Rybczynski result holds.…
This paper assesses the global employment and trade effects of renewed tariff escalation following the reintroduction of the United States' America First strategy in 2025. Using a multiregional input-output (MRIO) framework integrated with…
This note aims to verify a Laplace transform pair, previously published without proof, concerning the expected stock-out that may occur in a production-inventory systems when demand is Poisson, and the time horizon is finite. Stock-out, or…
We develop a labor demand model that encompasses pre-match hiring cost arising from tight labor markets. Through the lens of the model, we study the effect of labor market tightness on firms' labor demand by applying novel shift-share…
Choice overload - in which larger choice sets are detrimental to a chooser's well-being - is potentially of great importance in the design of economic policy. Yet the current evidence on its prevalence is inconclusive. We argue that…