Related papers: The Core in a Distributional Economy

Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any…

In our previous paper we proved that every affine economy has a competitive equilibrium. We define a simplex economy as an affine economy consisting of a stochastic allocation (defining the initial endowments) and a variation with…

We address the issue of the distribution of firm size. To this end we propose a model of firms in a closed, conserved economy populated with zero-intelligence agents who continuously move from one firm to another. We then analyze the size…

We propose the Agent Economy, a blockchain-based foundation where autonomous AI agents operate as economic peers to humans. Current agents lack independent legal identity, cannot hold assets, and cannot receive payments directly. We…

We analyze a conservative market model for the competition among economic agents in a close society. A minimum dynamics ensures that the poorest agent has a chance to improve its economic welfare. After a transient, the system…

For a class of stochastic dynamical models of exchange economies that we call ``fully connected Cobb-Douglas'', the paper proves convergence of the probability distribution to an equilibrium, in total variation metric as time goes to…

Recent work on the logical structure of non-locality has constructed scenarios where observations of multi-partite systems cannot be adequately described by compositions of non-signaling subsystems. In this paper we apply these frameworks…

Various formulations of counterfactual general equilibrium in economies -- systems of actors manipulating economic goods -- are logically and mathematically analyzed. Evenly-rotating economies are systems whose evolution is stable, steady,…

We analyse the complexity of environments according to the policies that need to be used to achieve high performance. The performance results for a population of policies leads to a distribution that is examined in terms of policy…

Are there multiple equilibria in the spatial economy? This paper develops a unified framework that integrates systems of cities and regional models to address this question within a general geographic space. A key feature is the endogenous…

From some observations on economic behaviors, in particular changing economic conditions with time and space, we develop a very simple model for the evolution of economic entities within a geographical type of framework. We raise a few…

We consider an economy made of competing firms which are heterogeneous in their capital and use several inputs for producing goods. Their consumption policy is fixed rationally by maximizing a utility and their capital cannot fall below a…

For a setting in which a large number of asymmetrically informed agents are randomly matched into groups over time, exchanging their information with each other when matched, we provide an explicit solution for the dynamics of the…

In this paper we consider multi-agent coalitional games with uncertain value functions for which we establish distribution-free guarantees on the probability of allocation stability, i.e., agents do not have incentives to defect from the…

We propose a Statistical-Mechanics inspired framework for modeling economic systems. Each agent composing the economic system is characterized by a few variables of distinct nature (e.g. saving ratio, expectations, etc.). The agents…

Persistent wealth inequality, where a small fraction of the population accumulates most resources while the majority remains economically vulnerable, is a widespread phenomenon. We investigate its underlying mechanisms using an agent-based…

Coalition Logic is an important logic in logical studies of strategic reasoning, whose models are concurrent game models. In this paper, first, we systematically discuss three assumptions of concurrent game models and argue that they are…

There are several aspects of data markets that distinguish them from a typical commodity market: asymmetric information, the non-rivalrous nature of data, and informational externalities. Formally, this gives rise to a new class of games…

The law of proportionate growth simply states that the time dependent change of a quantity $x$ is proportional to $x$. Its applicability to a wide range of dynamic phenomena is based on various assumptions for the proportionality factor,…

This paper focuses on the convergence of infor- mation in distributed systems of agents communicating over a network. The information on which the convergence is sought is not represented by real numbers, rather by sets of real numbers,…