Related papers: The Inflation Game
We introduce a game where players selfishly choose a resource and endure a cost depending on the number of players choosing nearby resources. We model the influences among resources by a weighted graph, directed or not. These games are…
Here, we examine a mean-field game (MFG) that models the economic growth of a population of non-cooperative rational agents. In this MFG, agents are described by two state variables - the capital and consumer goods they own. Each agent…
How is efficiency affected when demand excesses over supply are signalled through waiting in queues? We consider a class of congestion games with a nonatomic set of players of a constant mass, based on a formulation of generic linear…
This paper examines public goods and evaluates the mechanism through the game theory. Public goods are characterized by nonexclusivity and nonrivalry and this creates fundamental challenges for allocation. We analyze why competitive markets…
We introduce a non-zero-sum game between a government and a legislative body to study the optimal level of debt. Each player, with different time preferences, can intervene on the stochastic dynamics of the debt-to-GDP ratio via singular…
We propose a simple model of inter-bank borrowing and lending where the evolution of the log-monetary reserves of $N$ banks is described by a system of diffusion processes coupled through their drifts in such a way that stability of the…
In the model of Chain Inflation, a sequential chain of coupled scalar fields drives inflation. We consider a multidimensional potential with a large number of bowls, or local minima, separated by energy barriers: inflation takes place as…
Many-body dynamical models in which Boltzmann statistics can be derived directly from the underlying dynamical laws without invoking the fundamental postulates of statistical mechanics are scarce. Interestingly, one such model is found in…
In repeated games, such as auctions, players rely on autonomous learning agents to choose their actions. We study settings in which players have their agents make monetary transfers to other agents during play at their own expense, in order…
I model the belief formation and decision making processes of economic agents during a monetary policy regime change (an acceleration in the money supply) with a deep reinforcement learning algorithm in the AI literature. I show that when…
We address the equilibrium concept of a reverse auction game so that no one can enhance the individual payoff by a unilateral change when all the others follow a certain strategy. In this approach the combinatorial possibilities to consider…
This paper studies a nonzero-sum Dynkin game in discrete time under non-exponential discounting. For both players, there are two levels of game-theoretic reasoning intertwined. First, each player looks for an intra-personal equilibrium…
Inflation is known to be generically eternal to the future: the false vacuum is thermalized in some regions of space, while inflation continues in other regions. Here, we address the question of whether inflation can also be eternal to the…
Inflation in the early Universe is one of the most promising probes of gravity in the high-energy regime. However, observable scales give access to a limited window in the inflationary dynamics. In this essay, we argue that quantum…
Two-player quantitative zero-sum games provide a natural framework to synthesize controllers with performance guarantees for reactive systems within an uncontrollable environment. Classical settings include mean-payoff games, where the…
A theoretical self-sustainable economic model is established based on the fundamental factors of production, consumption, reservation and reinvestment, where currency is set as a unconditional credit symbol serving as transaction equivalent…
This paper describes a basic model of a gift economy in the shape of a Giving Game and reveals the fundamental structure of such a game. Main result is that the game shows a community effect in that a small subgroup of players eventually…
A brief review of inflation is presented. After having demonstrated the generality of the inflationary mechanism, the emphasize is put on its simplest realization, namely the single field slow-roll inflationary scenario. Then, it is shown…
Inflationary models are generally credited with explaining the large scale homogeneity, isotropy, and flatness of our universe as well as accounting for the origin of structure (i.e., the deviations from exact homogeneity) in our universe.…
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…