In a Diamond and Dybvig (1983) environment, Green and Lin (2003) take a mechanism design approach and show that a bank run equilibrium cannot exist. Peck and Shell (2003) generalize their economic environment and show that it can. The bank run, however, does not emerge because of modifications to the economic environment but rather because the mechanism that implements allocations is not an opt...

In [2], a short and elegant proof was presented showing that a binary word of length n contains at most n − 3 runs. Here we show, using the same technique and a computer search, that the number of runs in a binary word of length n is at most 22 23 n < 0.957n.

In this paper we present a folding algorithm to construct a process model from a specification given by a set of scenarios. Each scenario is formalized as a partially ordered set of activities of the process. As a process model we consider Event-driven Process Chains which are well established in the domain of business process modeling. Assuming that a specification describes valid behavior of ...

We give a new characterization of maximal repetitions (or runs) in strings based on Lyndon words. The characterization leads to a proof of the so-called runs conjecture (Kolpakov & Kucherov (FOCS ’99)), which states that the maximum number of runs ρ(n) in a string of length n is less than n. The proof is remarkably simple, considering the numerous endeavors to tackle this problem in the last 15...

This article analyzes the dynamic coordination problem among creditors of a firm with a time-varying fundamental and a staggered debt structure. In deciding whether to roll over his debt, each maturing creditor is concerned about the rollover decisions of other creditors whose debt matures during his next contract period. We derive a unique threshold equilibrium and characterize the roles of fu...

A run in a string is a nonextendable periodic substring in the string. Detecting all runs in a string is important and studied both from theoretical and practical points of view. In this paper, we consider the reverse problem of it. We reveal that the time complexity depends on the alphabet size k of the string to be output. We show that it is solvable in polynomial time for both binary alphabe...