The seminal work of Huggett [“The risk-free rate in heterogeneous-agent incompleteinsurance economies”, Journal of Economic Dynamics and Control, 1993, 17(5-6), 953969] showed that there exists a unique stationary distribution of agent types, given by their individual states of asset and income endowment pairs. However, the question remains open if the equilibrium individual state space might t...

Abstract. In this paper, we formulate a general time-inconsistent stochastic linear–quadratic (LQ) control problem. The time-inconsistency arises from the presence of a quadratic term of the expected state as well as a state-dependent term in the objective functional. We define an equilibrium, instead of optimal, solution within the class of open-loop controls, and derive a sufficient condition...

In this paper, we are going to estimate the domain of attraction of tumor-free equilibrium points in a perturbed cancer tumor model describing the tumor-immune system competition dynamics. The proposed method is based on an optimization problem solution for a chosen Lyapunov function that can be casted in terms of Linear Matrix Inequalities constraint and Taylor expansion of nonlinear terms. We...

The present work is concerned with the development of a new algorithm for determination of the equilibrium composition of gaseous detonations. The elements balance equations, and the second law of thermodynamics (i.e., the minimization of the Gibbs free energy of products), are used to determine the equilibrium composition of the detonation products. To minimize the Gibbs free energy with tradi...

The goals of the article are a definition of patterns of change in demand and supply of milk and dairy in the market of Ukraine and revealing the regularities of establishing of partial equilibrium state. The scientific methods which used in the process of the research: simulation was used for defining trends of supply and demand changing and their balancing in the dairy market; economic and st...

The conformational space of a 20-residue three-stranded antiparallel beta-sheet peptide (double hairpin) was sampled by equilibrium folding/unfolding molecular dynamics simulations for a total of 20 micros. The resulting one-dimensional free-energy profiles (FEPs) provide a detailed description of the free-energy basins and barriers for the folding reaction. The similarity of the FEPs obtained ...

We construct explicit examples of one-dimensional driven diffusive systems for two and three species of interacting particles, defined by asymmetric dynamical rules which do not obey detailed balance, but whose nonequilibrium stationary states coincide with a prescribed equilibrium Gibbsian state. For simplicity, the states considered only involve nearest-neighbor interactions. For two species,...