We explore sustainable paths out of a debt trap with a highly stylized two-sector differential equations model for the stocks of money in Government and Society. The model fits the data for the U.S. between 1981 and 2012 with a coefficient of correlation of 0.996. The solutions provide detailed...

We aim to shed light on the debate among policy-makers trying to find prescriptions that will take troubled economies out of their debt trap. We do this with a highly stylized two-compartment dynamic model consisting of the stocks of money in Government and Society. The dynamics of the system...

We present a simple financial market model with interacting chartists and fundamentalists. Since some speculators only become active when a certain misalignment level has been crossed, the model dynamics is driven by a discontinuous piecewise linear map. Recent mathematical techniques allow a...

Several discrete-time dynamic models are ultimately expressed in the form of iterated piecewise linear functions, in one or two-dimensional spaces. In this paper we study a one-dimensional map made up of three linear pieces which are separated by two discontinuity points, motivated by a dynamic...

This article considers a Cournot duopoly under an isoelastic demand function and cost functions with built-in capacity limits. The special feature is that each fi…rm is assumed to operate multiple plants, which can be run alone or in combination. Each …firm has two plants with different...

Il modello tradizionale di comportamento del consumatore è basato sull’ipotesi di razionalità, ovvero il consumatore effettua le proprie scelte massimizzando la funzione d'utilità soggetta al vincolo di bilancio. Questo approccio richiede che ogni consumatore abbia una completa conoscenza...

We develop a financial market model with heterogeneous interacting agents: market makers adjust prices with respect to excess demand, chartists believe in the persistence of bull and bear markets and fundamentalists bet on mean reversion. Moreover, speculators trade asymmetrically in over- and...