Related papers: Spatial competition and price formation
A statistical generalization is made of microeconomics in the spirit of going from classical to statistical mechanics. The price and quantity of every commodity1 traded in the market, at each instant of time, is considered to be an…
In this work, we present a model based on a competitive dynamics that intends to imitate the processes leading to some characteristics of the geopolitical division. The model departs from very simple principles of geopolitical theory and…
The building of mathematical and computer models of cities has a long history. The core elements are models of flows (spatial interaction) and the dynamics of structural evolution. In this article, we develop a stochastic model of urban…
We consider a financial market in discrete time and study pricing and hedging conditional on the information available up to an arbitrary point in time. In this conditional framework, we determine the structure of arbitrage-free prices.…
The fair division of indivisible goods is not only a subject of theoretical research, but also an important problem in practice, with solutions being offered on several online platforms. Little is known, however, about the characteristics…
We propose two novel frameworks to study the price formation of an asset negotiated in an order book. Specifically, we develop a game-theoretic model in many-person games and mean-field games, considering costs stemming from limited…
Financial economic models often assume that investors know (or agree on) the fundamental value of the shares of the firm, easing the passage from the individual to the collective dimension of the financial system generated by the Share…
An agent-based model for financial markets has to incorporate two aspects: decision making and price formation. We introduce a simple decision model and consider its implications in two different pricing schemes. First, we study its…
The study of the properties and structure of a city's road network has for many years been the focus of much work, as has the mathematical modelling of the location of its retail activity and of the emergence of clustering in retail…
Consumers can acquire information through their own search efforts or through their social network. Information diffusion via word-of-mouth communication leads to some consumers free-riding on their "friends" and less information…
In the past several decades, the world's economy has become increasingly globalized. On the other hand, there are also ideas advocating the practice of ``buy local'', by which people buy locally produced goods and services rather than those…
Shelf design decisions strongly influence product demand. In particular, placing products in desirable locations increases demand. This primary effect on shelf position is clear, but there is a secondary effect based on the relative…
Quantifying the spatial organization of human settlements is fundamental to understanding the complexity of urban systems. However, the quantitative patterns of the distribution of villages, towns, and cities that lie between random and…
In this paper, we study platforms where resources and jobs are spatially distributed, and resources have the flexibility to strategically move to different locations for better payoffs. The price of the service at each location depends on…
The agent-based model of stock price dynamics on a directed evolving complex network is suggested and studied by direct simulation. The stationary regime is maintained as a result of the balance between the extremal dynamics, adaptivity of…
One of the most important features of spatial networks such as transportation networks, power grids, Internet, neural networks, is the existence of a cost associated with the length of links. Such a cost has a profound influence on the…
Stochastic modeling of disease dynamics has had a long tradition. Among the first epidemic models including a spatial structure in the form of local interactions is the contact process. In this article we investigate two extensions of the…
A bipartite producer-consumer network is constructed to describe the industrial structure. The edges from consumer to producer represent the choices of the consumer for the final products and the degree of producer can represent its market…
Developing technology and changing lifestyles have made online grocery delivery applications an indispensable part of urban life. Since the beginning of the COVID-19 pandemic, the demand for such applications has dramatically increased,…
This paper addresses the question of how population diffusion affects the formation of the spatial patterns in the spatial epidemic model by Turing mechanisms. In particular, we present theoretical analysis to results of the numerical…