Related papers: When Redistribution Becomes a State Variable: Mone…
We present a detailed numerical analysis of the modified version of a conservative self-organized extremal model introduced by Pianegonda et. al. for the distribution of wealth of the people in a society. Here the trading process has been…
In this paper, we investigate the economic mobility in some money transfer models which have been applied into the research on wealth distribution. We demonstrate the mobility by recording the time series of agents' ranks and observing…
This paper proposes networked dynamics to solve resource allocation problems over time-varying multi-agent networks. The state of each agent represents the amount of used resources (or produced utilities) while the total amount of resources…
Motivated by the increasing interest in the explicit representation and handling of various "preference" structures arising in modern digital economy, this work introduces a new class of "one-to-many stable-matching" problems where a set of…
Firm growth process in the developing economies is known to produce divergence in their growth path giving rise to bimodality in the size distribution. Similar bimodality has been observed in wealth distribution as well. Here, we introduce…
We study a class of Markov chains that describe reversible stochastic dynamics of a large class of disordered mean field models at low temperatures. Our main purpose is to give a precise relation between the metastable time scales in the…
We consider a simple model of a closed economic system where the total money is conserved and the number of economic agents is fixed. In analogy to statistical systems in equilibrium, money and the average money per economic agent are…
The vector autoregression (VAR) has been widely used in system identification, econometrics, natural science, and many other areas. However, when the state dimension becomes large the parameter dimension explodes. So rank reduced modelling…
We consider a heterogeneous agent-based economic model where economic agents have strictly bounded rationality and where income allocation strategies evolve through selective imitation. Income is calculated by a Cobb-Douglas type production…
This paper examines the stability and distributed stabilization of signed multi-agent networks. Here, positive semidefiniteness is not inherent for signed Laplacians, which renders the stability and consensus of this category of networks…
We consider a system with $N$ parallel servers where incoming jobs are immediately replicated to, say, $d$ servers. Each of the $N$ servers has its own queue and follows a FCFS discipline. As soon as the first job replica is completed, the…
With the increasing demand for large-scale training of machine learning models, consensus-based distributed optimization methods have recently been advocated as alternatives to the popular parameter server framework. In this paradigm, each…
We report the numerical results for the steady state income or wealth distribution $P(m)$ and the resulting inequality measures (Gini $g$ and Kolkata $k$ indices) in the kinetic exchange models of market dynamics. We study the variations of…
In the analysis of Markov chains and processes, it is sometimes convenient to replace an unbounded state space with a "truncated" bounded state space. When such a replacement is made, one often wants to know whether the equilibrium behavior…
Continual learning systems are increasingly deployed in environments where retraining or reset is infeasible, yet many approaches emphasize task performance rather than the evolution of internal representations over time. In this work, we…
We investigate the dependence of steady-state properties of Schelling's segregation model on the agents' activation order. Our basic formalism is the Pollicott-Weiss version of Schelling's segregation model. Our main result modifies this…
This paper investigates how institutional rigidities shape inflation persistence in transition economies, focusing on labor market institutions and exchange rate regimes. Using a large panel of transition countries over the period…
Empirical distributions of wealth and income can be reproduced using simplified agent-based models of economic interactions, analogous to microscopic collisions of gas particles. Building upon these models of freely interacting agents, we…
Using a semi-structural approach, the paper identifies how heterogeneity and financial frictions affect the transmission of aggregate shocks. Approximating a heterogeneous agent model around the representative agent allocation can…
The work performed on or extracted from a non-autonomous quantum system described by means of a two-point projective-measurement approach takes the form of a stochastic variable. We show that the cumulant generating function of work can be…