Search results for "Mathematical economics"
showing 10 items of 240 documents
A note on Jordan’s inequality
2020
Abstract In this paper we obtain some bounds in terms of polynomials for the function sin x x {{\sin x} \over x} , x ∈ [0, π].
Reply from m. Heino, j.a.j. Metz and v. Kaitala.
1998
Eva Kisdi clarifies the relationships between frequency dependence, optimization and ESSs. We basically agree with all her comments. However, some further clarification may be useful.In the first paragraph of Kisdi's letter, ESSs and optimal strategies are seemingly opposed by saying that `finding an optimal strategy is a considerably stronger result than finding an ESS'. Although this statement is factually correct, it might engender a suggestion that is slightly wrong. Conceptually, ESSs are always primary: only ESSs matter from the viewpoint of long-term evolution. Optimization is secondary only, and must be justified by an ESS argument that explicitly accounts for the ecology in which t…
Harsanyi Power Solutions for Cooperative Games on Voting Structures
2019
International audience; This paper deals with Harsanyi power solutions for cooperative games in which partial cooperation is based on specific union stable systems given by the winning coalitions derived from a voting game. This framework allows for analyzing new and real situations in which there exists a feedback between the economic influence of each coalition of agents and its political power. We provide an axiomatic characterization of the Harsanyi power solutions on the subclass of union stable systems arisen from the winning coalitions from a voting game when the influence is determined by a power index. In particular, we establish comparable axiomatizations, in this context, when co…
Adaptation, coordination, and local interactions via distributed approachability
2017
This paper investigates the relation between cooperation, competition, and local interactions in large distributed multi-agent\ud systems. The main contribution is the game-theoretic problem formulation and solution approach based on the new framework\ud of distributed approachability, and the study of the convergence properties of the resulting game model. Approachability\ud theory is the theory of two-player repeated games with vector payoffs, and distributed approachability is here presented for\ud the first time as an extension to the case where we have a team of agents cooperating against a team of adversaries under local\ud information and interaction structure. The game model turns i…
Strategic Thinking under social influence: Scalability, stability and robustness of allocations
2016
This paper studies the strategic behavior of a large number of game designers and studies the scalability, stability and robustness of their allocations in a large number of homogeneous coalitional games with transferable utilities (TU). For each TU game, the characteristic function is a continuous-time stochastic process. In each game, a game designer allocates revenues based on the extra reward that a coalition has received up to the current time and the extra reward that the same coalition has received in the other games. The approach is based on the theory of mean-field games with heterogeneous groups in a multi-population regime.
Robust Mean Field Games with Application to Production of an Exhaustible Resource
2012
International audience; In this paper, we study mean field games under uncertainty. We consider a population of players with individual states driven by a standard Brownian motion and a disturbance term. The contribution is three-fold: First, we establish a mean field system for such robust games. Second, we apply the methodology to an exhaustible resource production. Third, we show that the dimension of the mean field system can be significantly reduced by considering a functional of the first moment of the mean field process.
The Role the Static Maximization Approach Plays in Neoclassical Analyses
1994
This is an article on the methodology of economic thought. The critical assessment of the neoclassical research programme contained here basically comes from the contributions of J.M. Buchanan, Nobel prize winner in Economics 1986. These comments are aimed at pointing out the role that the static maximization approach plays in neoclassical analyses since L. Robbins and P. Samuelson’s influential contributions came about after World War II. Just to complement this basic purpose, I present in section 4 the alternative methodological foundations J.M. Buchanan proposes and uses to replace the static maximization approach when building public choice analyses and I sketch in section 5 several pe…
Sustainable growth and environmental catastrophes
2017
Abstract In the standard AK growth model we introduce the threat of an ecological catastrophe and study the consequences for the economic variables in the long-run. We extend the basic framework by considering two environmental externalities: the first one is local and gives account of the marginal damage from emissions flow; the second one is aggregate, or global, and relates to the extreme damage which may happen if the accumulated stock of pollutants is on the threshold of a worldwide catastrophe. In this context dominated by market failures, we focus on the socially optimal solution and the search of conditions for sustainability. We identify the efficient balanced growth path, which ma…
A Critical View of Neurofeedback Experimental Designs: Sham and Control as Necessary Conditions
2016
C l i n M e d International Library Citation: Alino M, Gadea M, Espert R (2016) A Critical View of Neurofeedback Experimental Designs: Sham and Control as Necessary Conditions. Int J Neurol Neurother 3:041 Received: January 29, 2016: Accepted: February 25, 2016: Published: February 27, 2016 Copyright: © 2016 Alino M, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. ISSN: 2378-3001 Volume 3 | Issue 1 Alino et al. Int J Neurol Neurother 2016, 3:041
Quantum field inspired model of decision making: Asymptotic stabilization of belief state via interaction with surrounding mental environment
2018
This paper is devoted to justification of quantum-like models of the process of decision making based on the theory of open quantum systems, i.e. decision making is considered as decoherence. This process is modeled as interaction of a decision maker, Alice, with a mental (information) environment ${\cal R}$ surrounding her. Such an interaction generates "dissipation of uncertainty" from Alice's belief-state $\rho(t)$ into ${\cal R}$ and asymptotic stabilization of $\rho(t)$ to a steady belief-state. The latter is treated as the decision state. Mathematically the problem under study is about finding constraints on ${\cal R}$ guaranteeing such stabilization. We found a partial solution of th…