Related papers: On Sustainability and Survivability in the Matchbo…
We consider the spreading dynamics of two nested invasion clusters on an infinite tree. This model was defined as the chase-escape model by Kordzakhia and it admits a limit process, the birth-and-assassination process, previously introduced…
A purely state-dependent cost function can be modified by introducing a control-dependent term rewarding submaximal control utilization. A moderation incentive is identically zero on the boundary of the admissible control region and…
We consider an SIS-type epidemic process that evolves on a known graph. We assume that a fixed curing budget can be allocated at each instant to the nodes of the graph, towards the objective of minimizing the expected extinction time of the…
A possible definition of strong/symmetric hyperbolicity for a second-order system of evolution equations is that it admits a reduction to first order which is strongly/symmetric hyperbolic. We investigate the general system that admits a…
We consider an interacting particle system where equal-sized populations of two types of particles move by random walk steps on a graph, the two types may have different speeds, and meetings of opposite-type particles result in…
This investigation is a part of a research program aiming to characterize the extreme behavior possible in hydrodynamic models by analyzing the maximum growth of certain fundamental quantities. We consider here the rate of growth of the…
In this paper we study the optimal investment and reinsurance problem of an insurance company whose investment preferences are described via a forward dynamic exponential utility in a regime-switching market model. Financial and actuarial…
We introduce a spatial economic growth model where space is described as a network of interconnected geographic locations and we study a corresponding finite-dimensional optimal control problem on a graph with state constraints. Economic…
We investigate an optimal investment problem with a general performance criterion which, in particular, includes discontinuous functions. Prices are modeled as diffusions and the market is incomplete. We find an explicit solution for the…
Population genetics struggles to model extinction; standard models track the relative rather than absolute fitness of genotypes, while the exceptions describe only the short-term transition from imminent doom to evolutionary rescue. But…
In the present paper we study a lattice model of two species competing for the same resources. Monte Carlo simulations for d=1, 2, and 3 show that when resources are easily available both species coexist. However, when the supply of…
This paper characterizes differentiable subgame perfect equilibria in a continuous time intertemporal decision optimization problem with non-constant discounting. The equilibrium equation takes two different forms, one of which is…
We develop a complete analysis of a general entry-exit-scrapping model. In particular, we consider an investment project that operates within a random environment and yields a payoff rate that is a function of a stochastic economic…
In this paper we propose a new way of proving the value of a firm that is currently producing a certain product and faces the option to exit the market. The problem of optimal exiting is an optimal stopping problem, that can be solved using…
We consider portfolio optimization under a preference model in a single-period, complete market. This preference model includes Yaari's dual theory of choice and quantile maximization as special cases. We characterize when the optimal…
We investigate the salience of extinction risk as a source of impatience. Our framework distinguishes between human extinction risk and individual mortality risk while allowing for various degrees of intergenerational altruism.…
In this paper, we study a two-dimensional process arising as the unique nonnegative solution to a system of two stochastic differential equations (SDEs) with mutually enhancing two-way interactions driven by independent Brownian motions and…
We consider a real options model for the optimal irreversible investment problem of a profit maximizing company. The company has the opportunity to invest into a production plant capable of producing two products, of which the prices follow…
Given that extinction in a bisexual population is certain, we study a way to approximate the time when this extinction occurs. Our study is based on standard tools from Extreme Value Theory, which in practice are very easy to implement. We…
Multispecies ecosystems modelled by generalized Lotka-Volterra equations exhibit stationary population abundances, where large number of species often coexist. Understanding the precise conditions under which this is at all feasible and…