We investigate the geometry of finite datasets defined by equilibrium prices, income distributions, and total resources. We show that the equilibrium condition imposes no restrictions if total resources are collinear, a property that is robust to small perturbations. We also show that the set of equilibrium datasets is pathconnected when the equilibrium condition does impose restrictions on dat...

In this article, we study the dynamics of a density-dependent predator-prey system of Beddington-DeAngelis type. We obtain sufficient and necessary conditions for the existence of a unique positive equilibrium, the global attractiveness of the boundary equilibrium, and the permanence of the system, respectively. Moreover, we derive a sufficient condition for the locally asymptotic stability of ...

A gas prepared in a non-equilibrium state will approach equilibrium and stay there. An influential contemporary approach to Statistical Mechanics explains this behaviour in terms of typicality. However, this explanation has been criticised as mysterious as long as no connection with the dynamics of the system is established. We take this criticism as our point of departure. Our central claim is...

This paper presents a conceptual modeling study on the behaviors of terrestrial biosphere–atmosphere systems as they relate to multiple equilibrium states and climate variability, and emphasizes their implications for physically based climate modeling. The conceptual biosphere–atmosphere model consists of equilibrium responses of vegetation and precipitation to each other, dynamics of the veget...

In a Markov game, players engage in a sequence of games determined by a Markov process. In this setting, this paper investigates the impact of varying the informativeness of public information, as defined by Blackwell 1951 and 1953, pertaining to the games that will be played in future periods. In brief, when a curvature condition on payoffs is satisfied, the finding is that, for any fixed disc...

Hydrodynamical models have certain advantages over transport model calculations in describing heavy ion collisions. One of the most important is that, once the equation of state and initial conditions of the matter are specified, the evolution of the system is determined. No knowledge of the underlying microscopic processes is required. This is especially important when studying the predicted p...

We study the structure of the rest points of signaling games and their dynamic behavior under selection-mutation dynamics by taking the case of three signals as our canonical example. Many rest points of the replicator dynamics of signaling games are not isolated and, therefore, not robust under perturbations. However, some of them attract open sets of initial conditions. We prove the existence...

This paper addresses the e ects of indeterminacy on the volatility of asset prices in a stochastic overlapping generations model with 3-period lived agents. With complete markets, indeterminacy is characterized by the initial conditions and all equilibria converge to one of the deterministic steady states in the long run. With incomplete markets, the degree of indeterminacy is countably innite....

A mechanism coalitionally implements a social choice set if any outcome of the social choice set can be achieved as a coalitional Bayesian Nash equilibrium of a mechanism and vice versa. We say that a social choice set is coalitionally implementable if there is a mechanism which coalitionally implements it. Our main theorem proves that a social choice set is coalitionally implementable if and o...

In this paper we study a model of a quantity-setting duopoly market where firms lack knowledge of the market demand. Using a misspecified demand function firms determine their profit-maximizing choices of their corresponding perceived market game. For illustrative purposes we assume that the (true) demand function is linear and that the reaction functions of the players are quadratic. We then i...