The effect of an intervention in an economic mechanism, for example an increase in the reserve price of an auction, is causal if the observed effect is better than the counterfactual, i.e., the effect that would be observed under no intervention. As mechanisms are populated by dynamical systems of interacting agents, their response to an intervention fluctuates until the system reaches a new eq...

In this paper, we consider global weak solutions to compressible Navier–Stokes–Korteweg equations with density dependent viscosities, in a periodic domain $$\Omega = \mathbb T^3$$ , linear drag term respect the velocity. The main result concerns exponential decay equilibrium of such using log-sobolev type inequalities. order show result, starting point is weak-entropy definition, introduced D. ...

We analyze reinforcement learning under so-called “dynamic reinforcement”. In reinforcement learning, each agent repeatedly interacts with an unknown environment (i.e., other agents), receives a reward, and updates the probabilities of its next action based on its own previous actions and received rewards. Unlike standard reinforcement learning, dynamic reinforcement uses a combination of long ...

A fluid queuing network constitutes one of the simplest models in which to study flow dynamics over a network. In this model we have a single source-sink pair and each link has a per-time-unit capacity and a transit time. A dynamic equilibrium (or equilibrium flow over time) is a flow pattern over time such that no flow particle has incentives to unilaterally change its path. Although the model...

We consider a simple model case of stiff source terms in hyperbolic conservation laws, namely, the case of scalar conservation laws with a zeroth order source with low regularity. It is well known that a direct treatment of the source term by finite volume schemes gives unsatisfactory results for both the reduced CFL condition and refined meshes required because of the lack of accuracy on equil...

We consider the equations governing multicomponent reactive ows derived from the kinetic theory of dilute polyatomic reactive gas mixtures. We rst discuss the structure of the chemical source term associated with Maxwellian distributions. We then investigate an abstract second order quasilinear system with a source term, around a constant equilibrium state. Assuming the existence a generalized ...

Credit booms often cause economic expansions. But some credit booms end in financial crises yet others do not. To find out why, this paper presents a dynamic general equilibrium model of production economies with adverse selection in the financial market. Entrepreneurs can take on short-term collateralized debt and trade long-term assets to finance investment. Funding liquidity can erode market...