Related papers: Rational Bubbles Attached to Real Assets
Oscillons are localized, non-singular, time-dependent, spherically-symmetric solutions of nonlinear scalar field theories which, although unstable, are extremely long-lived. We show that they naturally appear during the collapse of…
In this paper, we will review some of the issues that have been raised by opinion dynamics theory to date. In particular, we conducted a hypothesis-based simulation using a socio-physical approach regarding the filter bubble phenomenon that…
We study constant roll inflation systematically. This is a regime, in which the slow roll approximation can be violated. It has long been thought that this approximation is necessary for agreement with observations. However, recently it was…
Recent developments in cosmology suggest that much of the universe is in a state of explosive, accelerated expansion, called inflation. We live in a "bubble" where inflation has ended, and other bubbles with diverse properties are…
Using a self-similar approach a general nonsteady theory is elaborated for the case of the diffusion growth of a gas bubble in a supersaturated solution of gas in liquid. Due to the fact that the solution and the bubble in it are physically…
Rationality is often related to optimal decision making. Humans are known to be bounded rational agents. However, recent advances in computing, and other scientific and technical fields along with large amount of data have led to a feeling…
A theory of the collapse of a punctured antibubble is developed. The motion of the rim of air formed at the edge of the collapsing air film cannot be described by a potential flow and is characterized by high Reynolds numbers. The rim…
An axiomatic approach to macroeconomics based on the mathematical structure of thermodynamics is presented. It deduces relations between aggregate properties of an economy, concerning quantities and flows of goods and money, prices and the…
This paper develops a theory of competitive equilibrium with indivisible goods based entirely on economic conditions on demand. The key idea is to analyze complementarity and substitutability between bundles of goods, rather than merely…
The idea that the universe might be open is an old one, and the possibility of having an open universe arise form inflation is not new either. However, a concrete realization of a consistent single-bubble open inflation model is known only…
This paper is devoted to a study of robust fundamental theorems of asset pricing in discrete time and finite horizon settings. Uncertainty is modelled by a (possibly uncountable) family of price processes on the same probability space. Our…
We study stable rationality properties of conic bundles over rational surfaces.
This article explores the connection between boolean-valued class models of set theory and the theory of arbitrary objects in roughly Kit Fine's sense of the word. In particular, it explores the hypothesis that the set theoretic universe as…
We consider risk averse investors with different levels of anxiety about asset price drawdowns. The latter is defined as the distance of the current price away from its best performance since inception. These drawdowns can increase either…
We study equilibria of markets with $m$ heterogeneous indivisible goods and $n$ consumers with combinatorial preferences. It is well known that a competitive equilibrium is not guaranteed to exist when valuations are not gross substitutes.…
In this paper, we address one of the main puzzles in finance observed in the stock market by proponents of behavioral finance: the stock predictability puzzle. We offer a statistical model within the context of rational finance which can be…
The classic double bubble theorem says that the least-perimeter way to enclose and separate two prescribed volumes in $\mathbb{R}^N$ is the standard double bubble. We seek the optimal double bubble in $\mathbb{R}^N$ with density, which we…
A rational theory is proposed to describe the large-scale motion in turbulence. The fluid element with inner orientational structures is proposed to be the building block of fluid dynamics. The variance of the orientational structures then…
The recent surge in valuations among AI related firms has renewed concerns that markets may be entering a new phase of speculative exuberance, especially in the technology and semiconductor sectors at the center of the AI investment wave.…
We study the rationality of some geometrically rational three-dimensional conic and quadric surface bundles, defined over the reals and more general real closed fields, for which the real locus is connected and the intermediate Jacobian…