Related papers: On Equilibrium Determinacy in Overlapping Generati…
Statistical equilibrium models of coherent structures in two-dimensional and barotropic quasi-geostrophic turbulence are formulated using canonical and microcanonical ensembles, and the equivalence or nonequivalence of ensembles is…
The main result applies to non-degenerate cases of the generalized Lotka-Volterra model. A criterion is given that relates the stability of two fixed points with the associated Schur complement of there respective community matrices.
This paper presents a general solution for a recent model by Keen for endogenous money creation. The solution provides an analytic framework that explains all significant dynamical features of Keen's model and their parametric dependence,…
We study the probabilistic evolution of a birth and death continuous time measure-valued process with mutations and ecological interactions. The individuals are characterized by (phenotypic) traits that take values in a compact metric…
In the context of a large class of stochastic processes used to describe the dynamics of wealth growth, we prove a set of inequalities establishing necessary and sufficient conditions in order to avoid infinite wealth concentration. These…
The existence of positive equilibrium solutions to age-dependent population equations with nonlinear diffusion is studied in an abstract setting. By introducing a bifurcation parameter measuring the intensity of the fertility it is shown…
We consider the determination of the optimal stationary singular stochastic control of a linear diffusion for a class of average cumulative cost minimization problems arising in various financial and economic applications of stochastic…
The stability of money value is an important requisite for a functioning economy, yet it critically depends on the actions of participants in the market themselves. Here we model the value of money as a dynamical variable that results from…
The paper [12] examines a concept of equilibrium policies instead of optimal controls in stochastic optimization to analyze a mean-variance portfolio selection problem. We follow the same approach in order to investigate the Merton…
A general system of difference equations is presented for multispecies communities with density dependent population growth and delayed maturity. Interspecific competition, mutualism, predation, commensalism, and amensalism are…
This paper is concerned with an analysis of the dynamics of a non-autonomous, single population age based growth model with harvesting formulation. First, we derive sufficient conditions for permanence and positive invariance. Then, by…
Recent studies, in the context of consistency conditions for rapid-turn and third order slow-roll inflation in two-field models, raised the question whether this regime can be sustained for more than a few e-folds of expansion. We answer…
We analyse the effect of harvesting in a resource dependent age structured population model, deriving the conditions for the existence of a stable steady state as a function of fertility coefficients, harvesting mortality and carrying…
The aim of this paper is to tackle part of the program set by Diekmann et al. in their seminal paper Diekmann et al. (2001). We quote "It remains to investigate whether, and in what sense, the nonlinear determin-istic model formulation is…
The adaptation to situations of sequential choice under uncertainty of decision criteria which deviate from (subjective) expected utility raises the problem of ensuring the selection of a nondominated strategy. In particular, when following…
We present a dynamical many-body theory of money in which the value of money is a time dependent ``strategic variable'' that is chosen by the individual agents. The value of money in equilibrium is not fixed by the equations, and thus…
This paper is concerned with a time-inconsistent recursive stochastic control problems where the forward state process is constrained through an additional recursive utility system. By adapting the Ekeland variational principle, necessary…
We consider a dynamics generated by families of maps whose invariant density depends on a parameter a and where a itself obeys a stochastic or periodic dynamics. For slowly varying a the long-term behavior of iterates is described by a…
We search for steady states in a class of fluctuating and driven physical systems that exhibit sustained currents. We find that the physical concept of a steady state, well known for systems at equilibrium, must be generalised to describe…
We investigate stochastic differential games of optimal trading comprising a finite population. There are market frictions in the present framework, which take the form of stochastic permanent and temporary price impacts. Moreover,…