Related papers: A note on the Cobb-Douglas function
This paper studies a durable goods monopoly with multiple provision levels, free disposability, and zero marginal cost. We establish a Folk-Theorem-type result: as parties become sufficiently patient, equilibrium seller payoffs contains an…
We give an explicit coinduction principle for recursively-defined stochastic processes. The principle applies to any closed property, not just equality, and works even when solutions are not unique. The rule encapsulates low-level analytic…
We consider an economic agent (a household or an insurance company) modelling its surplus process by a deterministic process or by a Brownian motion with drift. The goal is to maximise the expected discounted spendings/dividend payments,…
We introduce a Markov product structure for multivariate tail dependence functions, building upon the well-known Markov product for copulas. We investigate algebraic and monotonicity properties of this new product as well as its role in…
Adopting a probabilistic approach we determine the optimal dividend payout policy of a firm whose surplus process follows a controlled arithmetic Brownian motion and whose cash-flows are discounted at a stochastic dynamic rate. Dividends…
This paper tends to define the quantitative relationship between the stock price and time as a time function. Based on the empirical evidence that the log-return of a stock is the series of white noise, a mathematical model of the integral…
A recent Douglas fir management investigation is repeated in terms of accounting measures. The rotation times become much shorter than in earlier results. Thinnings do not become feasible, provided the thinning effects on the volumetric…
This paper examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms when the domain of valuations is restricted. Our approach is to appropriately define the total valuation function, which is the expected…
A differentiable function is pseudoconvex if and only if its restrictions over straight lines are pseudoconvex. A differentiable function depending on one variable, defined on some closed interval $[a,b]$ is pseudoconvex if and only if…
We prove the existence of an extremal function in the Hardy-Littlewood-Sobolev inequality for the energy associated to an stable operator. To this aim we obtain a concentration-compactness principle for stable processes in $\mathbb{R}^N$.
This paper proposes an information-theoretic cost function for aggregating a Markov chain via a (possibly stochastic) mapping. The cost function is motivated by two objectives: 1) The process obtained by observing the Markov chain through…
Multimodular functions, primarily used in the literature of queueing theory, discrete-event systems, and operations research, constitute a fundamental function class in discrete convex analysis. The objective of this paper is to clarify the…
Motivated by real-world applications such as rental and cloud computing services, we investigate pricing for reusable resources. We consider a system where a single resource with a fixed number of identical copies serves customers with…
In the first part of this paper (Sections 1-4), we study a standard exchange economy model with Cobb-Douglas type consumers and give a necessary and sufficient condition for the existence of an odd period cycle in the Walras-Samuelson…
It is well known that a Wilson action reduces to the generating functional of connected correlation functions as we take the momentum cutoff to zero. For a fixed point Wilson action, this implies that for momenta large compared with the…
The notion of constructible functions in the setting of tame real geometry has been introduced by Cluckers and Dan Miller in their work on parametric integration of globally subanalytic functions. A function on a globally subanalytic set is…
The Douglas-Rachford algorithm is widely used in sparse signal processing for minimizing a sum of two convex functions. In this paper, we consider the case where one of the functions is weakly convex but the other is strongly convex so that…
Given a geometric Brownian motion wealth process, a log-Normal lower bound is constructed for the returns of a regular investing schedule. The distribution parameters of this bound are computed recursively. For dollar cost averaging (equal…
We present a new approach for finding a minimal value of an arbitrary function assuming only its continuity. The process avoids verifying Lagrange- or KKT-conditions. The method enables us to obtain a Brouwer fixed point (of a continuous…
The notion of stability can be generalised to point processes by defining the scaling operation in a randomised way: scaling a configuration by $t$ corresponds to letting such a configuration evolve according to a Markov branching particle…