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dynamics and classify trajectories accordingly. Our goal here is to develop methods to gauge the discontinuity characteristics … behaviors based on the event discontinuity they manifest. We restrict ourselves here to binary event sequences, providing … trajectory types. We suggest that the innovative measures of discontinuity presented can be further developed to provide …
Persistent link: https://www.econbiz.de/10010793597
achieve the strict standard of natural flow regime, a discontinuity ratio method is used to express the reservoir’s expected …
Persistent link: https://www.econbiz.de/10010794604
An important class of control problems in economics are those in which the state equation switches (jumps) whenever the state variable crosses a threshold. An example is a life-cycle problem in which a household faces higher rates on borrowing than on lending, and therefore the interest rate on...
Persistent link: https://www.econbiz.de/10010798176
Firm’s size tipically changes through discrete leaps over time.The model of firm’s growth discussed here entails some nonstandard consequences. Firstly, profitability is not a continuous function of size, but exhibits a number of peaks. Secondly, investment increases in those firms where...
Persistent link: https://www.econbiz.de/10010772231
before and after the discontinuity. The dependence of jam lengths on density is derived numerically and analytically. …
Persistent link: https://www.econbiz.de/10010590253
relationship between the densities is derived before and after the discontinuity. …
Persistent link: https://www.econbiz.de/10010590408
We study the traffic states and jams occurring on a two-lane highway with a few slowdown sections. We derive the fundamental diagrams (flow-density diagrams). The fundamental diagrams on first and second lanes depend highly on the configuration of slowdown sections. The occupancy fraction of...
Persistent link: https://www.econbiz.de/10010590823
This paper develops a model of safety first consumption behavior in which the likelihood of survival to the next period depends on current consumption levels. Below a threshold asset level, individuals follow a decumulation path, and above that level they follow an accumulation path. Saving...
Persistent link: https://www.econbiz.de/10010616900
modify the extent of the spatial interactions, putting forward the discontinuity of those in space. …
Persistent link: https://www.econbiz.de/10008926820
In a recent but well known paper, Reny has proved the existence of Nash equilibria for compact and quasiconcave games, with possibly discontinuous payoff functions. In this paper, we prove that the quasiconcavity assumption in Reny's theorem can be weakened : we introduce a measure allowing to...
Persistent link: https://www.econbiz.de/10008622039