Inefficient delays in trades can sometimes be observed after the arrival of important public news. This paper explains these phenomena with a model in which agents defer trades in the fear that they may be taken advantaged of by better informed trading partners. Under certain conditions, delay...

In the framework of the median voter theorem, an ideologically driven candidate can fully alter policy when running against a vote-maximizing oponent. When turnout is allowed to depend on the relative positioning of the ideal points of the candidates relative to the voter, this result need not...

General equilibrium theory in economics defines the relative prices for goods and services, but does not fix the absolute values of prices. We present a theory of money in which the value of money is a time dependent "strategic variable," to be chosen by the individual agents. The idea is...

This paper reviews the evolution of trading structures by examining two pertinent strands in the literature on economics with interacting agents, one, works that presume a specified topology of interactions among agents, and two, works that let random mechanisms determine that topology. The papr...

This paper presents a day-to-day re-routing relaxation approach for traffic simulations. Starting from an initial planset for the routes, the route-based microsimulation is exxecuted. The result of the microsimulation is fed into a re-router, which re-routes a certain percentage of all trips....

This paper proves that one can not build a computer which can, for any physical system, take the specification of that system's state as input and then correctly predict its future state before that state actually occurs. Loosely speaking, this means that one can not build a physical computer...

The set R of relevant cycles of a graph G is the union of its minimum cycle bases. We introduce a partition of R such that each cycle in a class W can be expressed as a sum of other cycles and W and shorter cycles. It is shown that each minimum cycle basis contains the same number of...

In this study, we explore the relationships among group size, the extent of interactions with other groups, and group performance in a stochastic environment. We have developed a modeling framework which allows the connections among the individual members constituting a group and the connections...

In this paper we address the problem of program discovery as defined by Genetic Programming. We have two major results: First, by combining a hierarchical crossover operator with two traditional single point search algorithms: Simulated Annealing and Stochastic Iterated Hill Climbing, we have...

For some 40 years almost all electronic phenomena inmetals have been interpreted in terms of a general theoretical framework which one could variously call renormalized free particle theory, Fermi liquid theory, or "AGD" after the best-known book on the subject. <p> I came to the conclusion a few...</p>