Related papers: The Existence of Equilibrium Flows
Under the same assumptions made by Mas-Colell et al. (1995), I develop a short, simple, and complete proof of existence of equilibrium prices based on excess demand functions. The result is obtained by applying the Brouwer fixed point…
In this work, we introduce the notion of regularization of bifunctions in a similar way as the well- known convex, quasiconvex and lower semicontinuous regularizations due to Crouzeix. We show that the Equilibrium Problems associated to…
We give a necessary and sufficient condition for the global existence of the classical solution to the Cauchy problem of the compressible Euler-Poisson equations with radial symmetry. We introduce a new quantity which describes the balance…
In this paper we are concerned with the global existence of smooth solutions to the turbulent flow equations for compressible flows in $\mathbb{R}^3$. The global well-posedness is proved under the condition that the initial data are close…
We introduce a new class of combinatorial markets in which agents have covering constraints over resources required and are interested in delay minimization. Our market model is applicable to several settings including scheduling, cloud…
In this paper, we extend and improve the production chain model introduced by Kikuchi et al. (2018). Utilizing the theory of monotone concave operators, we prove the existence, uniqueness, and global stability of equilibrium price, hence…
A \emph{new} notion of equilibrium, which we call \emph{strong equilibrium}, is introduced for time-inconsistent stopping problems in continuous time. Compared to the existing notions introduced in ArXiv: 1502.03998 and ArXiv: 1709.05181,…
General equilibrium, the cornerstone of modern economics and finance, rests on assumptions many markets do not meet. Spectrum auctions, electricity markets, and cap-and-trade programs for resource rights often feature non-convexities in…
The paper examines one-dimensional total variation flow equation with Dirichlet boundary conditions. Thanks to a new concept of "almost classical" solutions we are able to determine evolution of facets -- flat regions of solutions. A key…
We propose and document the evidence for an analogy between the dynamics of granular counter-flows in the presence of bottlenecks or restrictions and financial price formation processes. Using extensive simulations, we find that the…
A statistical method for calculating equilibrium solutions of the shallow water equations, a model of essentially 2-d fluid flow with a free surface, is described. The model contains a competing acoustic turbulent {\it direct} energy…
In this article, we consider the problem of equilibrium price formation in an incomplete securities market consisting of one major financial firm and a large number of minor firms. They carry out continuous trading via the securities…
We study equilibrium in hedonic markets, when consumers and suppliers have reservation utilities, and the utility functions are separable with respect to price. There is one indivisible good, which comes in different qualities; each…
We combine general equilibrium theory and theorie generale of stochastic processes to derive structural results about equilibrium state prices.
We extend the important generalizations by Yannelis [25] and Cornet et al [7] of the classical result of Gale, Nikaido, Kuhn and Debreu (the "GNKD theorem") regarding existence of market equilibrium, by broadening the applicability of their…
We consider dynamic equilibria for flows over time under the fluid queuing model. In this model, queues on the links of a network take care of flow propagation. Flow enters the network at a single source and leaves at a single sink. In a…
This paper continues the study of equilibria for flows over time in the fluid queueing model recently considered by Koch and Skutella [10]. We provide a constructive proof for the existence and uniqueness of equilibria in the case of a…
An intriguing link between a wide range of problems occurring in physics and financial engineering is presented. These problems include the evolution of small perturbations of linear flows in hydrodynamics, the movements of particles in…
In 2010s Fleiner introduced a notion of stable flows in directed networks and showed that such a flow always exists and can be found by use of a reduction to the stable allocation problem due to Baiou and Balinski. Recently Cseh and…
Classic inflation, the theory described in textbooks, is based on the idea that, beginning from typical initial conditions and assuming a simple inflaton potential with a minimum of fine-tuning, inflation can create exponentially large…