Related papers: Is Kyle's equilibrium model stable?
We study a discrete-time financial market with a single constrained trader, competitive market makers, and noise traders. Within the class of linear equilibria, the equilibrium structure is shown to be uniquely determined by two state…
The Quasi Steady-State (QSS) model of long-term dynamics relies on the idea of time-scale decomposition. Assuming that the fast variables are infinitely fast and are stable in the long-term, the QSS model replaces the differential equations…
Robustness guarantees are important properties to be looked for during control design. They ensure stability of closed-loop systems in face of uncertainties, unmodeled effects and bounded disturbances. While the theory on robust stability…
Many well-studied learning dynamics, such as fictitious play and the replicator, are known to not converge in general $N$-player games. The simplest mode of non-convergence is cyclical or periodic behavior. Such cycles are fundamental…
Vickrey's classic single-bottleneck departure time choice equilibrium model exhibits instability under many plausible day-to-day learning dynamics. Such instability is not observed in reality -- does this difference stem from the day-to-day…
We study two coupled discrete-time equations with different (asynchronous) periodic time scales. The coupling is of the type sample and hold, i.e., the state of each equation is sampled at its update times and held until it is read as an…
This paper deals with stability of discrete-time switched linear systems whose all subsystems are unstable. We present sufficient conditions on the subsystems matrices such that a switched system is globally exponentially stable under a set…
We return to the subject of stability of infinite time asymptotics of kinetic equations. We found a model which is simpler than those studied previously and which shows unstable behavior corresponding to our arguments to appear elsewhere,…
Understanding the structural evolution of granular systems is a long-standing problem. A recently proposed theory for such dynamics in two dimensions predicts that steady states of very dense systems satisfy detailed-balance. We analyse…
A class of polynomial dynamical systems called complex-balanced are locally stable and conjectured to be globally stable. In general, complex-balancing is not a robust property, i.e., small changes in parameter values may result in the loss…
Mathematical models of glucose, insulin, and pancreatic $\beta$-cell mass dynamics are essential for understanding the physiological basis of type 2 diabetes. This paper investigates the Topp model's discrete-time dynamics to represent…
The stability of solutions to evolution equations with respect to small stochastic perturbations is considered. The stability of a stochastic dynamical system is characterized by the local stability index. The limit of this index with…
We consider the Lotka-Volterra system and provide necessary conditions for an equilibrium to be stable. Our results naturally complement earlier fundamental results by N. Adachi, Y. Takeuchi, and H. Tokumaru, who, in a series of papers,…
This paper discusses the stability of an equilibrium point of an ordinary differential equation (ODE) arising from a feed-forward position control for a musculoskeletal system. The studied system has a link, a joint and two muscles with…
Limit theorems for a linear dynamical system with random interactions are established. These theorems enable us to characterize the dynamics of a large complex system in details and assess whether a large complex system is stable or…
Linear scalar differential equations with distributed delays appear in the study of the local stability of nonlinear differential equations with feedback, which are common in biology and physics. Negative feedback loops tend to promote…
This paper deals with stability of discrete-time switched linear systems whose all subsystems are unstable and the set of admissible switching signals obeys pre-specified restrictions on switches between the subsystems and dwell times on…
Equilibrium is a rather ideal situation, the exception rather than the rule in Nature. Whenever the external or internal parameters of a physical system are varied its subsequent relaxation to equilibrium may be either impossible or take…
In this paper we study the Kyle-Back strategic insider trading equilibrium model in which the insider has an instantaneous information on an asset, assumed to follow an Ornstein-Uhlenback-type dynamics that allows possible influence by the…
We analyze the stability under time evolution of complexifier coherent states (CCS) in one-dimensional mechanical systems. A system of coherent states is called stable if it evolves into another coherent state. It turns out that a system…