Displaying similar documents to “A continuum of path-dependent equilibrium solutions induced by sticky expectations”

Economic system dynamics.

McCauley, Joseph L., Küffner, Cornelia M. (2004)

Discrete Dynamics in Nature and Society

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An equilibrium model for electricity auctions

Juri Hinz (2003)

Applicationes Mathematicae

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This work discusses the process of price formation for electrical energy within an auction-like trading environment. Calculating optimal bid strategies of power producers by equilibrium arguments, we obtain the corresponding electricity price and estimate its tail behavior.

Multiagent opinion dynamics influenced by individual susceptibility and anchoring effect

Zihan Chen, Yu Xing, Huashu Qin (2019)

Kybernetika

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This paper studies a new model of social opinion dynamics in multiagent system by counting in two important factors, individual susceptibility and anchoring effect. Different from many existing models only focusing on one factor, this model can exhibit not only agreement phenomena, but also disagreement phenomena such as clustering and fluctuation, during opinion evolution. Then we provide several conditions to show how individual susceptibility and anchoring effect work on steady-state...

Kinetic BGK model for a crowd: Crowd characterized by a state of equilibrium

Abdelghani El Mousaoui, Pierre Argoul, Mohammed El Rhabi, Abdelilah Hakim (2021)

Applications of Mathematics

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This article focuses on dynamic description of the collective pedestrian motion based on the kinetic model of Bhatnagar-Gross-Krook. The proposed mathematical model is based on a tendency of pedestrians to reach a state of equilibrium within a certain time of relaxation. An approximation of the Maxwellian function representing this equilibrium state is determined. A result of the existence and uniqueness of the discrete velocity model is demonstrated. Thus, the convergence of the solution...