We analyse a single sector economy with H > 1 infinitely-lived agents that operate in a continuous-time framework. Utility functions are recursive but not additive. Both efficient and perfect foresight competitive equilibrium allocations are considered. The existence and stability of such allocations are investigated locally, i.e., in a neighbourhood of steady-state allocations. The model is sh...

The use of the power and energy functional in the analysis of the electric circuits makes it possible to appreciate the energetic equilibrium state attained in the circuit at a certain moment. This paper is concerned with a demonstration of the principle of minimum dissipated active power for the steady state circuits under nonsinusoidal conditions. It is shown that the equilibrium state is one...

This paper studies the influence of the agents’ information states on the negotiation equilibrium. This analysis is undertaken by examining a range of negotiation scenarios in which the amount of information that agents have about their opponent’s parameters is systematically varied. For each such scenario, we show that a unique equilibrium exists and we investigate how the information states o...

The problem of routing traffic through a congested network is studied. The framework is that introduced by Koutsoupias and Papadimitriou where the network is constituted by m parallel links, each having a finite capacity, and there are n selfish (noncooperative) agents wishing to route their traffic through one of these links: thus the problem sets naturally in the context of noncooperative gam...

We construct a dynamic general equilibrium model to analyze the effects of large energy subsidies in a small open economy. The model includes domestic energy production and consumption, trade in energy at world market prices, as well as private and public sector production. The model is calibrated to Egypt and used to study reforms such as reductions in energy subsidies with corresponding reduc...

We develop a model of consumer learning and choice behavior in response to uncertain service at the marketplace. Learning could be asymmetric, i.e., consumers may associate different weights with positive and negative experiences. Under this consumer model, we characterize the steady-state distribution of demand for retailers given that each retailer holds constant in-stock service level. We th...

We tackle the inverse problem of reconstructing an unknown finite measure μ from a noisy observation of a generalized moment of μ defined as the integral of a continuous and bounded operator Φ with respect to μ . When only a quadratic approximation Φm of the operator is known, we introduce the L2 approximate maximum entropy solution as a minimizer of a convex functional subject to a sequence of...