Related papers: The Inflation Game
We study a monetary version of the Keen model by merging two alternative extensions, namely the addition of a dynamic price level and the introduction of speculation. We recall and study old and new equilibria, together with their local…
In the late 90's, after severe financial and economic crisis, accompanied by inflation and exchange rate instability, Eastern Europe emerged into two groups of countries with radically contrasting monetary regimes (Currency Boards and…
We analyse four consecutive cycles observed in the USA for employment and inflation. They are driven by three oil price shocks and an intended interest rate shock. Non-linear coupling between the rate equations for consumer products as prey…
In this chapter, an input-output economic model with multiple interactive economic systems is considered. The model captures the multi-dimensional nature of the economic sectors or industries in each economic system, the interdependencies…
General Equilibrium Theory is the benchmark of economics, especially its results concerning the efficient allocation of resources, known as the First and Second Welfare Theorems. Yet, General Equilibrium Theory is beyond the scope of most…
Eternal inflation, the idea that there is always a part of the universe that is expanding exponentially, is a frequent feature of inflationary models. It has been argued that eternal inflation requires the violation of energy conditions,…
The basic workings of inflationary models are summarized, along with the arguments that strongly suggest that our universe is the product of inflation. It is argued that essentially all inflationary models lead to (future-)eternal…
In complex systems, many different parts interact in non-obvious ways. Traditional research focuses on a few or a single aspect of the problem so as to analyze it with the tools available. To get a better insight of phenomena that emerge…
We consider a class of games that are generalizations of the minority game, in that the demand and supply of the resource are specified independently. This allows us to study systems in which agents compete under different demand loads.…
This article presents evidence based on a panel of 35 countries over the past 30 years that the Phillips curve relation holds for food inflation. That is, broader economic overheating does push up the food component of the CPI in a…
Schelling games model the wide-spread phenomenon of residential segregation in metropolitan areas from a game-theoretic point of view. In these games agents of different types each strategically select a node on a given graph that models…
The aim of this paper is to show, that the 'oscillating universe' is a viable alternative to inflation. We remind that this model provides a natural solution to the flatness or entropy and to the horizon problem of standard cosmology. We…
Inflation has been the driving idea in cosmology for two decades and is a pillar of the New Cosmology. The inflationary paradigm has now passed its first round of significant tests, with two of its three basics predictions confirmed at…
Synthesis of finite-state controllers from high-level specifications in multi-agent systems can be reduced to solving multi-player concurrent games over finite graphs. The complexity of solving such games with qualitative objectives for…
A matching game is a cooperative profit game defined on an edge-weighted graph, where the players are the vertices and the profit of a coalition is the maximum weight of matchings in the subgraph induced by the coalition. A population…
Inflation has been the leading early universe scenario for two decades, and has become an accepted element of the successful `cosmic concordance' model. However, there are many puzzling features of the resulting theory. It requires both…
This paper studies a special kind of equilibrium termed as "balanced equilibrium" which arises in the power allocation game defined in \cite{allocation}. In equilibrium, each country in antagonism has to use all of its own power to…
Two-player zero-sum "graph games" are a central model, which proceeds as follows. A token is placed on a vertex of a graph, and the two players move it to produce an infinite "play", which determines the winner or payoff of the game.…
We study a class of location games where players want to attract as many resources as possible and pay a cost when deviating from an exogenous reference location. This class of games includes political competitions between policy-interested…
A group of people wishes to use money to exchange goods efficiently over several time periods. However, there are disadvantages to using any of the goods as money, and in addition fiat money issued in the form of notes or coins will be…