Related papers: Comment on 'Asset Bubbles and Overlapping Generati…
A portfolio of different stocks and a risk-less security whose composition is dynamically maintained stable by trading shares at any time step leads to a growth of the capital with a nonrandom rate. This is the key for the theory of…
The Rayleigh-Taylor (RT) instability is omnipresent in the physics of inversely density-stratified fluids subject to effective gravitational acceleration. In astrophysics, a steep stratification of the ambient medium can fragment a bubble…
Nonlinear evolutions of two-dimensional single-mode compressible Rayleigh--Taylor instability (RTI) with isothermal stratification are investigated in cylindrical geometry via direct numerical simulation for different Atwood numbers…
The existence of involuntary unemployment advocated by J. M. Keynes is a very important problem of the modern economic theory. Using a three-generations overlapping generations model, we show that the existence of involuntary unemployment…
Cosmological inflation and topological defects have been considered for a long time, either in disagreement or in competition. On the one hand an inflationary era is required to solve the shortcomings of the hot big bang model, while on the…
Proponents of behavioral finance have identified several "puzzles" in the market that are inconsistent with rational finance theory. One such puzzle is the "excess volatility puzzle". Changes in equity prices are too large given changes in…
As we show using the notion of equilibrium in the theory of infinite sequential games, bubbles and escalations are rational for economic and environmental agents, who believe in an infinite world. This goes against a vision of a self…
We calculate analytically the bubble nucleation rate in a model of first order inflation which is able to produce large scale structure. The computation includes the first-order departure from the thin-wall limit, the explicit derivation of…
We derive the most probable distribution of resources for a simple society. We find that a probabilistic analysis forbids both too much and too less equity, and selects instead a minimally ordered state. We give the detailed calculations…
In this paper, a mathematically rigorous solution overturns existing wisdom regarding New Keynesian Dynamic Stochastic General Equilibrium. I develop a formal concept of stochastic equilibrium. I prove uniqueness and necessity, when agents…
We refer to an individual holding a non-negligible fraction of the country's total wealth as an oligarch. We explain how a model due to Boghosian et al. can be used to explore the effects of taxation on the emergence of oligarchs. The model…
Breaking waves generate a distribution of bubble sizes that evolves over time. Knowledge of how this distribution evolves is of practical importance for maritime and climate studies. The analytical framework developed in Part 1 examined how…
The paper presents an analytical description of the growth of a two-component bubble in a binary liquid-gas solution. We obtain asymptotic self-similar time dependence of the bubble radius and analytical expressions for the non-steady…
A linear bubble model of grain growth is introduced to study the conditions under which an isolated grain can grow to a size much larger than the surrounding matrix average (abnormal growth). We first consider the case of bubbles of two…
I study a population model in which the reproduction rate lambda is inherited with mutation, favoring fast reproducers in the short term, but conflicting with a process that eliminates agglomerations of individuals. The model is a variant…
We introduce a highly stylized, yet non trivial model of the economy, with a public and private sector coupled through a wealth tax and a redistribution policy. The model can be fully solved analytically, and allows one to address the…
We show that particle production during the expansion of bubbles of true vacuum in the sea of false vacuum is possible and calculate the resulting rate. As a result the nucleated bubbles cannot expand due to the transfer of false vacuum…
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…
We show the absence of the usual parametrically large overshoot problem of small-field inflation if initiated by a Coleman-De Luccia (CDL) tunneling transition from an earlier vacuum in the limit of small inflationary scale compared to the…
It is a widely observed phenomenon that wealth is distributed significantly more unequal than wages. In this paper we study this phenomenon using a new extension of P\'olyas urn, modelling wealth growth through wages and capital returns. We…