Related papers: A production function with variable elasticity of …
Far-from-equilibrium thermodynamics underpins the emergence of life, but how has been a long-outstanding puzzle. Best candidate theories based on the maximum entropy production principle could not be unequivocally proven, in part due to…
We investigate multiscale Gibbs measures from a variational and probabilistic viewpoint, focusing on the structural asymmetry among conditional entropies that characterizes their construction. We show how this asymmetry emerges both from…
Stochastic dominance has not been too employed in practice due to its important limitations. To increase its versatility, the concept has recently been adapted by introducing various indices that measure the degree to which one probability…
The main objective of this paper is to look from the unique point of view at some phenomena arising in different areas of probability theory and mathematical statistics. We will try to understand what is common between classical…
Competitive systems can exhibit both hierarchical (transitive) and cyclic (intransitive) structures. Despite theoretical interest in cyclic competition, which offers richer dynamics, and occupies a larger subset of the space of possible…
Financial derivatives have often been criticized as casino-style betting instruments. It turns out that many naive ways of making them are indeed equivalent to gambling. Fortunately, this inadvertent effect can be understood and prevented.…
A simple heuristic model, including the multiple exchanges between economic agents, is used to explain the mechanism of emerging and maintenance of social inequality in the market economy. The model allows calculating a density function of…
There are clear benefits associated with a particular consumer choice for many current markets. For example, as we consider here, some products might carry environmental or `green' benefits. Some consumers might value these benefits while…
In this paper, we investigate capacity preserving transformations and their ergodicity. We show that for any measurable transformation $\theta$ there always exists a $\theta$-invariant capacity. We investigate some limit properties under…
We provide an alternative approach to a problem posed in the article "Hourglass of Constant Weight" by Volker Becker and Thorsten P\"{o}schel, which appeared in Granular Matter 10 (2008), 231-232, i.e. 14 years ago. Our goal to return to…
It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…
The Hicks induced innovation hypothesis states that a price increase of a production factor is a spur to invention. We propose an alternative hypothesis restating that a spur to invention require not only an increase of one factor but also…
We analyze the effect of frequency on the width of a single finger displacing a viscoelastic fluid. We derive a generalized Darcy's law in the frequency domain for a linear viscoelastic fluid flowing in a Hele Shaw cell. This leads to an…
The expected utility hypothesis is a popular concept in economics that is useful for making decisions when the payoff is uncertain. In this paper, we investigate the implications of a fluctuation theorem in the theory of expected utility.…
We develop a method to estimate producers' productivity beliefs when output quantities and input prices are unobservable, and we use it to evaluate the market for science. Our model of researchers' labor supply shows how their willingness…
Hooke's law states that the forces or stresses experienced by an elastic object are proportional to the applied deformations or strains. The number of coefficients of proportionality between stress and strain, i.e., the elastic moduli, is…
This paper provides a rigorous and gap-free proof of the index theorem used in the theory of regular economy. In the index theorem that is the subject of this paper, the assumptions for the excess demand function are only several usual…
Finite Euler product is known to be one of the classical zeta functions in number theory. In [1], [2] and [3], we have introduced some multivariable zeta functions and studied their definable probability distributions on R^d. They include…
Elastic turbulence is the chaotic fluid motion resulting from elastic instabilities due to the addition of polymers in small concentrations at very small Reynolds ($\mbox{Re}$) numbers. Our direct numerical simulations show that elastic…
The entropy production is one of the most essential features for systems operating out of equilibrium. The formulation for discrete-state systems goes back to the celebrated Schnakenberg's work and hitherto can be carried out when for each…