Related papers: Spatial competition and price formation
We present the results of detailed numerical study of a model for the sharing and sorting of informations in a community consisting of a large number of agents. The information gathering takes place in a sequence of mutual bipartite…
Cities are some of the most intricate and advanced creations of humanity. Most objects in cities are perfectly synchronised to coordinate activities such as jobs, education, transportation, entertainment, and waste management. Although each…
We study the problem of online learning in competitive settings in the context of two-sided matching markets. In particular, one side of the market, the agents, must learn about their preferences over the other side, the firms, through…
We study a spatially homogeneous model of a market where several agents or companies compete for a wealth resource. In analogy with ecological systems the simplest case of such models shows a kind of "competitive exclusion" principle.…
In a complex system, the individual components are neither so tightly coupled or correlated that they can all be treated as a single unit, nor so uncorrelated that they can be approximated as independent entities. Instead, patterns of…
We study one-sided matchings with endowments in the absence of money. It is well-known that a competitive equilibrium may not always exist and that the strong core may be empty in this setting [Hylland and Zeckhauser, 1979]. We propose a…
We introduce a model in which city populations grow at rates proportional to the area of their "sphere of influence", where the influence of a city depends on its population (to power \alpha) and distance from city (to power -\beta) and…
The behaviour and functioning of a variety of complex physical and biological systems depend on the spatial organisation of their constituent units, and on the presence and formation of clusters of functionally similar or related…
Strategic product placement can have a strong influence on customer purchase behavior in physical stores as well as online platforms. Motivated by this, we consider the problem of optimizing the placement of substitutable products in…
We consider a model where agents differ in their `types' which determines their voluntary contribution towards a public good. We analyze what the equilibrium composition of groups are under centralized and centralized choice. We show that…
We propose a machine learning method to solve a mean-field game price formation model with common noise. This involves determining the price of a commodity traded among rational agents subject to a market clearing condition imposed by…
We study the problem of pricing under a Multinomial Logit model where we incorporate network effects over the consumer's decisions. We analyse both cases, when sellers compete or collaborate. In particular, we pay special attention to the…
We represent the functioning of the housing market and study the relation between income segregation, income inequality and house prices by introducing a spatial Agent-Based Model (ABM). Differently from traditional models in urban…
For vehicle sharing schemes, where drop-off positions are not fixed, we propose a pricing scheme, where the price depends in part on the distance between where a vehicle is being dropped off and where the closest shared vehicle is parked.…
Data are invaluable. How can we assess the value of data objectively, systematically and quantitatively? Pricing data, or information goods in general, has been studied and practiced in dispersed areas and principles, such as economics,…
Pricing decisions stand out as one of the most critical tasks a company faces, particularly in today's digital economy. As with other business decision-making problems, pricing unfolds in a highly competitive and uncertain environment.…
We present a simplistic model of the competition between different currencies. Each individual is free to choose the currency that minimizes his transaction costs, which arise whenever his exchanging relations have chosen a different…
This paper develops a game-theoretic model and an agent-based model to study group formation driven by resource pooling, spatial cohesion, and heterogeneity. We focus on cross-sector partnerships (CSPs) involving public, private, and…
I present an overview of some recent advancements on the empirical analysis and theoretical modeling of the process of price formation in financial markets as the result of the arrival of orders in a limit order book exchange. After…
In this article we revisit the classic problem of tatonnement in price formation from a microstructure point of view, reviewing a recent body of theoretical and empirical work explaining how fluctuations in supply and demand are slowly…