Related papers: On Equilibrium Determinacy in Overlapping Generati…
We review some results on abstract linear and nonlinear population models with age and spatial structure. The results are mainly based on the assumption of maximal $L_p$-regularity of the spatial dispersion term. In particular, this…
We consider the dynamics, existence and stability of the equilibrium states for large populations of individuals who can play various types of non--cooperative games. The players imitate the most attractive strategies, and the choice is…
This paper is concerned with the study of the stability of dynamical systems evolving on time scales. We first {formalize the notion of matrix measures on time scales, prove some of their key properties and make use of this notion to study…
This paper concerns the tilt stability of local optimal solutions to a class of nonlinear semidefinite programs, which involves a twice continuously differentiable objective function and a convex feasible set. By leveraging the second…
We elucidate the generic bifurcation behavior of local and global order in the nonreciprocal Ising model evolving under Glauber dynamics. We show that a critical magnitude of nearest-neighbor correlations within the respective lattices…
This research studies the relation between money and prices and its practical implications analyzing quarterly data from United States (1959-2022), Canada (1961-2022), United Kingdom (1986-2022), and Brazil (1996-2022). The historical,…
The effects of saving and spending patterns on holding time distribution of money are investigated based on the ideal gas-like models. We show the steady-state distribution obeys an exponential law when the saving factor is set uniformly,…
This paper defines the notion of a local equilibrium of quality $(r , s)$, $0 \leq r , s$, in a discrete exchange economy: a partial allocation and item prices that guarantee certain stability properties parametrized by the numbers $r$ and…
We prove a general existence result in stochastic optimal control in discrete time where controls take values in conditional metric spaces, and depend on the current state and the information of past decisions through the evolution of a…
In equilibrium statistical mechanics or thermodynamics formalism one of the main objectives is to describe the behavior of families of equilibrium measures for a potential parametrized by the inverse temperature $\beta$. Here we consider…
We consider the non-equilibrium time evolution of a translationally invariant state under a Hamiltonian with a localized defect. We discern the situations where a light-cone spreads out from the defect and separates the system into regions…
A generalization of the Euler's elastic problem, i.e., finding a stationary configuration (planar elastica) of the Bernoulli's thin ideal elastic rod with boundary conditions defined through fixed endpoints and/or tangents at the endpoints,…
Organisms and ecological groups accumulate evidence to make decisions. Classic experiments and theoretical studies have explored this process when the correct choice is fixed during each trial. However, we live in a constantly changing…
We analyze how equilibrium housing prices are determined in the process of economic development within an overlapping generations model with perfect housing and rental markets. We characterize the rent growth rate in all equilibria. The…
This paper studies a discrete-time version of the Lucas-Uzawa endogenous growth model with physical and human capital in the presence of externalities. Existence of an optimal equilibrium is proved using tools from dynamic programming with…
We report that population dynamics in fluctuating environment accompanies mathematically equivalent structure to steady state thermodynamics. By employing the structure, population growth in fluctuating environment is decomposed into…
The continuous-time version of Kyle's (1985) model is studied, in which market makers are not fiduciaries. They have some market power which they utilize to set the price to their advantage, resulting in positive expected profits. This has…
The ongoing rapid urbanization phenomena make the understanding of the evolution of urban environments of utmost importance to improve the well-being and steer societies towards better futures. Many studies have focused on the emerging…
An equation for the evolution of the distribution of wealth in a population of economic agents making binary transactions with a constant total amount of "money" has recently been proposed by one of us (RLR). This equation takes the form of…
General equilibrium is the dominant theoretical framework for economic policy analysis at the level of the whole economy. In practice, general equilibrium treats economies as being always in equilibrium, albeit in a sequence of equilibria…