This paper analyzes coalitions among self-interested agents that need to solve combinatorial optimization problems to operate e ciently in the world. By colluding (coordinating their actions by solving a joint optimization problem), the agents can sometimes save costs compared to operating individually. A model of bounded rationality is adopted, where computation resources are costly. It is not...

The aim of this paper is to present a PSPACE algorithm which yields a finite graph of exponential size and which describes the set of all solutions of equations in free groups as well as the set of all solutions of equations in free monoids with involution in the presence of rational constraints. This became possible due to the recently invented recompression technique of the second author. He ...

Modern epistemology is undergoing some changes related to the transformations of human environment, primarily caused by digitalization. Epistemology now dominated two opposing trends — “naturaliziation” and “socialization”. It can be assumed that strengthening “naturalization” trend in a reaction previously dominant socio-constructionist trend, characterized rejection epistemological realism su...

In this paper, the buckling of non-homogeneous isotropic truncated conical shells under uniform lateral pressure and resting on a Winkler foundation is investigated. The basic relations and governing equations have been obtained for non-homogeneous truncated conical shells. The critical uniform lateral pressures of non-homogeneous isotropic truncated conical shells with or without a Winkler fou...

In a standard financial market model with asymmetric information with a finite number N of risk-averse informed traders, competitive rational expectations equilibria provide a good approximation to strategic equilibria as long as N is not too small: equilibrium prices in each situation converge to each other at a rate of 1/N as the market becomes large. The approximation is particularly good wh...

This paper reviews a variety of alternative approaches to the specification of the expectations of economic decisionmakers in dynamic models, and reconsiders familiar results in the theory of monetary and fiscal policy when one allows for departures from the hypothesis of rational expectations. The various approaches are all illustrated in the context of a common model, a log-linearized New Key...

This paper argues that an important part of movements in asset prices may be caused by neither external news nor irrationality, but by the revelation of information by the trading process itself. Two models are developed that illustrate this general idea. One model is based on investor uncertainty about the quality of other investors' information; the other is based on widespread dispersion of ...

This research presents, buckling and free vibration analysis of fiber metal-laminated (FML) plates on a total and partial elastic foundation using the generalized differential quadrature method (GDQM). The partial foundation consists of multi-section Winkler and Pasternak type elastic foundation. Taking into consideration the first-order shear deformation theory (FSDT), FML plate is modeled and...