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This paper studies the role of households' heterogeneity in access to financial markets and the consumption of commodity goods in the transmission of foreign shocks. First, I use survey data from Uruguay to show that low income households…
We introduce and discuss optimal control strategies for kinetic models for wealth distribution in a simple market economy, acting to minimize the variance of the wealth density among the population. Our analysis is based on a finite time…
Credit assignmen, disentangling each agent's contribution to a shared reward, is a critical challenge in cooperative multi-agent reinforcement learning (MARL). To be effective, credit assignment methods must preserve the environment's…
While the classic Vickrey-Clarke-Groves mechanism ensures incentive compatibility for a static one-shot game, it does not appear to be feasible to construct a dominant truth-telling mechanism for agents that are stochastic dynamic systems.…
In this paper we propose to extend the separable temporal exponential random graph model (STERGM) to account for time-varying network- and actor-specific effects. Our application case is the network of international major conventional…
Entangled systems are prevalent in both biological and synthetic materials. This study examines the stable configurations of weaves consisting of two families of intertwined threads, such as warp and weft threads. By analyzing the steepest…
Stochastic resetting breaks detailed balance and drives the formation of nonequilibrium steady states . Here, we consider a chain of diffusive processes $x_i(t)$ that interact unilaterally: at random time intervals, the process $x_n$…
The transient fluctuation of the prosperity of firms in a network economy is investigated with an abstract stochastic model. The model describes the profit which firms make when they sell materials to a firm which produces a product and the…
In robust Markov decision processes (RMDPs), it is assumed that the reward and the transition dynamics lie in a given uncertainty set. By targeting maximal return under the most adversarial model from that set, RMDPs address performance…
Turn-taking behaviour is simulated in a coupled agents system. Each agent is modelled as a mobile robot with two wheels. A recurrent neural network is used to produce the motor outputs and to hold the internal dynamics. Agents are developed…
The problem of real-time remote tracking and reconstruction of a two-state Markov process is considered here. A transmitter sends samples from an observed information source to a remote monitor over an unreliable wireless channel. The…
We consider a multiagent system consisting of selfish and heterogeneous agents. Its behavior is modeled by multipopulation replicator dynamics, where payoff functions of populations are different from each other. In general, there exist…
We propose an aggregate notion of non-transferable utility (NTU) stability for decentralized matching markets with fixed prices, where market clearing is achieved through one-sided money burning, which can be interpreted as waiting. Agents…
Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of…
Transformation models are a very important tool for applied statisticians and econometricians. In many applications, the dependent variable is transformed so that homogeneity or normal distribution of the error holds. In this paper, we…
Stability and analysis of multi-agent network systems with state-dependent switching typologies have been a fundamental and longstanding challenge in control, social sciences, and many other related fields. These already complex systems…
Wage dispersion and job-to-job mobility are central features of modern labour markets, yet canonical equilibrium search models with exogenous job-offer ladders struggle to jointly account for these facts and the magnitude of frictional wage…
We consider the problem of stochastic optimal control, where the state-feedback control policies take the form of a probability distribution and where a penalty on the entropy is added. By viewing the cost function as a Kullback- Leibler…
Scalable load balancing algorithms are of great interest in cloud networks and data centers, necessitating the use of tractable techniques to compute optimal load balancing policies for good performance. However, most existing scalable…
Simple agent based exchange models are a commonplace in the study of wealth distribution in an artificial economy. Generally, in a system that is composed of many agents characterized by their wealth and risk-aversion factor, two agents are…