In this article, we attempt to explain the fair outcome of ultimatum game experiments using the evolutionary dynamics. The players of the game, the proposers and the responders, are randomly matched to play the game. When the responders face low offers from the proposers, their decisions are...

In this paper, the dynamical process of money creation in a random exchange model with debt is investigated. The money creation kinetics are analyzed by both the money-transfer matrix method and the diffusion method. From both approaches, we attain the same conclusion: the source of money...

Stochastic filtering is defined as the estimation of a partially observed dynamical system. Approximating the solution of the filtering problem with Gaussian mixtures has been a very popular method since the 1970s. Despite nearly fifty years of development, the existing work is based on the...

This study offers a simultaneous equations model of the birth process with seven endogenous variables: four birht inputs, and three birth outputs. Our analysis conditions on twenty-four exogenous variables. The data are taken the NLSY. Separate analyses are performed on five different groups:...

Considering an economy without fossil fuels, literally built from the ground, then up, we developed several interactive research models of biointensive farms that use no fossil fuels. Quantifying and summarizing total human labor–energy input and total caloric energy output, we demonstrate...

This paper investigates the impacts of offshore wind power forecast error on the operation and management of a pool-based electricity market in 2050. The impact from offshore wind power forecast errors of up to 2000 MW on system generation costs, emission costs, dispatch-down of wind, number of...

Although pumped hydro storage is seen as a strategic key asset by grid operators, financing it is complicated in new liberalised markets. It could be argued that the optimum generation portfolio is now determined by the economic viability of generators based on a short to medium term return on...