The thermohaline circulation (THC) affects the meridional atmospheric temperature gradient and therefore the atmospheric wind and the wind driven ocean circulation. The wind driven circulation (WDC), in turn, affects the THC by the advection of salinity anomalies into deep water formation sites. This paper considers this two way coupling between the WDC and THC, using tools from engineering fee...

This paper endogenizes the cost of external funds and explores the implications on irreversible investments. The investment strategy incorporates equilibrium feedback that result from a bargaining process between the firm and a lender. Contrary to debt issuance, tax benefits and distress costs cannot be internalized by the firm. “Bad news” are less costly for the firm that has incentives to acc...

We analyze whether different learning abilities of firms with respect to general equilibrium effects lead to different levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the observation of general equilibrium fee...

Consider a differential game for two players in infinite time horizon, with exponentially discounted costs. A pair of feedback controls (u1(x), u ∗ 2(x)) is Nash equilibrium solution if u1 is the best strategy for Player 1 in reply to u ∗ 2, and u ∗ 2 is the best strategy for Player 2, in reply to u1. Aim of the present note is to investigate the stability of the best reply map: (u1, u2) 7→ (R1...

Feedback stabilization of an ensemble of non interacting half spins described by Bloch equations is considered. This system may be seen as a prototype for infinite dimensional systems with continuous spectrum. We propose an explicit feedback law that stabilizes asymptotically the system around a uniform state of spin +1/2 or -1/2. The closed-loop stability analysis is done locally around the eq...

We commonly use the experience of others when taking decisions. Reputation mechanisms aggregate in a formal way the feedback collected from peers and compute the reputation of products, services, or providers. The success of reputation mechanisms is however conditioned on obtaining true feedback. Side-payments (i.e. agents get paid for submitting feedback) can make honest reporting rational (i....

This paper reviews the predictions and management implications of two current paradigms in the ecology and management of arid and semi-arid rangelands. The equilibrium model stresses the importance of biotic feedbacks such as density-dependent regulation of livestock populations and the feedback of livestock density on vegetation composition, cover and productivity. Range management under this ...

This paper presents a solution to the user equilibrium Dynamic Traffic Routing (DTR) problem for a point diversion case using feedback control methodology. The sliding mode control technique which is a robust control methodology applicable to nonlinear systems in canonical form is employed to solve the user equilibrium DTR problem. The canonical form for this problem is obtained by using feedba...