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We propose a novel kinetic exchange model differing from previous ones in two main aspects. First, the basic dynamics is modified in order to represent economies where immediate wealth exchanges are carried out, instead of reshufflings or…
We propose an analytic approach for the steady-state dynamics of Markov processes on locally tree-like graphs. It is based on time-translation invariant probability distributions for edge trajectories, which we encode in terms of infinite…
A possible way to extract information about the reversible dissociation of a molecular adhesion bond from force fluctuations observed in force ramp experiments is discussed. For small loading rates the system undergoes a limited number of…
This paper is concerned with general spatially explicit versions of three stochastic models for the dynamics of money that have been introduced and studied numerically by statistical physicists: the uniform reshuffling model, the immediate…
We propose a new Bayesian heteroskedastic Markov-switching structural vector autoregression with data-driven time-varying identification. The model selects alternative exclusion restrictions over time and, as a condition for the search,…
The models studied in the steady state involve two queues which are served either by a single server whose speed depends on the number of jobs present, or by several parallel servers whose number may be controlled dynamically. Job service…
A version of the Schelling model on $\mathbb{Z}$ is defined, where two types of agents are allocated on the sites. An agent prefers to be surrounded by other agents of its own type, and may choose to move if this is not the case. It then…
This paper concerns the analysis and implementation of a novel iterative staggered scheme for quasi-static brittle fracture propagation models, where the fracture evolution is tracked by a phase field variable. The model we consider is a…
The position variance of a single-mode Yuen states can go below the standard quantum limit. For two-mode squeezed states, it is shown that the time-dependent evolution of the entanglement of formation can be contractive, going below that of…
How does the monetary and fiscal policy mix alter households' saving incentives? To answer these questions, we build a heterogenous agents New Keynesian model where three different types of agents can save in assets with different liquidity…
Growing economic inequalities are observed in several countries throughout the world. Following Pareto, the power-law structure of these inequalities has been the subject of much theoretical and empirical work. But their nonequilibrium…
The CAP theorem asserts a trilemma between consistency, availability, and partition tolerance. This paper introduces a rigorous automata-theoretic and economically grounded framework that reframes the CAP trade-off as a constraint…
We propose a model for equity trading in a population of agents where each agent acts to achieve his or her target stock-to-bond ratio, and, as a feedback mechanism, follows a market adaptive strategy. In this model only a fraction of…
This Chapter reviews statistical models for the probability distribution of money developed in the econophysics literature since the late 1990s. In these models, economic transactions are modeled as random transfers of money between the…
We consider piecewise linear discrete time macroeconomic models, which possess a continuum of equilibrium states. These systems are obtained by replacing rational inflation expectations with a boundedly rational, and genuinely sticky,…
We study a mass transport model on a ring with parallel update, where a continuous mass is randomly redistributed along distinct links of the lattice, choosing at random one of the two partitions at each time step. The redistribution…
We present an agent based model of a single asset financial market that is capable of replicating several non-trivial statistical properties observed in real financial markets, generically referred to as stylized facts. While previous…
We study data-driven learning of robust stochastic control for infinite-horizon systems with potentially continuous state and action spaces. In many managerial settings--supply chains, finance, manufacturing, services, and dynamic…
The renowned van der Waals (VDW) state equation quantifies the equilibrium relationship between pressure $P$, volume $V$ and temperature $k_{B}T$ of a real gas. We assign new variable interpretations adapted to the economic context: $P…
We investigate a model of stratified economic interactions between agents when the notion of spatial location is introduced. The agents are placed on a network with near-neighbor connections. Interactions between neighbors can occur only if…