If non-vanishing chemical potentials are assigned to chiral fermions, then a Chern-Simons term is induced for the corresponding gauge fields. In thermal equilibrium anomalous processes adjust the chemical potentials such that the coefficient of the Chern-Simons term vanishes, but it has been argued that there are non-equilibrium epochs in cosmology where this is not the case and that, consequen...

in this paper, nonlinear adjustments and price transmission mechanism between the two levels of wholesale and retail for the egg market has been examined under the threshold vector error correction model (tvecm) framework using hansen and seo (2002)’s two-regimes). the unit root test showed that both wholesale and retail egg price series were integrated of order one . the johansen co-integratio...

It is a common belief that computing a market equilibrium in Fisher’s spending model is easier than computing a market equilibrium in Arrow-Debreu’s exchange model. This belief is built on the fact that we have more algorithmic success in Fisher equilibria than ArrowDebreu equilibria. For example, a Fisher equilibrium in a Leontief market can be found in polynomial time, while it is PPAD-hard t...

We consider a market in which traders arrive at random times, with random private values for the single traded asset. A trader’s optimal trading decision is formulated in terms of exercising the option to trade one unit of the asset at the optimal stopping time. We solve the optimal stopping problem under the assumption that the market price follows a mean-reverting diffusion process. The model...

Three-phase equilibrium in argon was obtained based on the thermodynamics of a perfect solid and a perfect liquid (v2). The equation of state (EOS) for a perfect solid was obtained from our previous study of a pure substance using spherical molecules. The EOS for a perfect liquid is a van der Waals EOS with the Carnahan-Starling repulsion term to explain 3-phase equilibrium. The Lennard-Jones p...

We study the influence of decaying perturbations on autonomous oscillatory systems in a plane under assumption that preserve equilibrium state limit system, oscillate with asymptotically constant frequency, and satisfy nonresonance condition. discuss long-term behavior perturbed trajectories neighborhood state. describe conditions perturbation parameters guarantee preservation or loss stability...

Non-cooperative decision-making problems in a decentralized supply chain can be characterized and studied using a stochastic game model. In an earlier paper, the authors developed a methodology that uses machine learning for finding (near) optimal policies for non-zero sum stochastic games, and applied their methodology on an N-retailer and W-warehouse inventory-planning problem. The focus of t...

Since the end of 1970's-and the success of the New Classical School –, the face of macroeconomics has changed profoundly. On the one hand, the research has turned gradually away from the analysis of the short-term fluctuations to favor a study of the long term determining factors of macroeconomic variables. One has studied the determinants of growth and has interpreted the cycles as fluctuation...

Standard descriptions of thermodynamically reversible processes attribute contradictory properties to them: they are in equilibrium yet still change their state. Or they are comprised of non-equilibrium states that are so close to equilibrium that the difference does not matter. One cannot have states that both change and no not change at the same time. In place of this internally contradictory...

This research compares partial equilibrium and statistical time-series approaches to hedging. The finance literature stresses the former approach, while the applied economics literature has focused on the latter. We compare the out-of-sample hedging effectiveness of the two approaches when hedging commodity price risk using futures contracts. For various methods of parameter estimation and infe...