13 resultados para Local uniqueness of equilibrium prices


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We study the entanglement in a chain of harmonic oscillators driven out of equilibrium by preparing the two sides of the system at different temperatures, and subsequently joining them together. The steady state is constructed explicitly and the logarithmic negativity is calculated between two adjacent segments of the chain. We find that, for low temperatures, the steady-state entanglement is a sum of contributions pertaining to left-and right-moving excitations emitted from the two reservoirs. In turn, the steady-state entanglement is a simple average of the Gibbs-state values and thus its scaling can be obtained from conformal field theory. A similar averaging behaviour is observed during the entire time evolution. As a particular case, we also discuss a local quench where both sides of the chain are initialized in their respective ground states.

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The European Commission Report on Competition in Professional Services found that recommended prices by professional bodies have a significant negative effect on competition since they may facilitate the coordination of prices between service providers and/or mislead consumers about reasonable price levels. Professional associations argue, first, that a fee schedule may help their members to properly calculate the cost of services avoiding excessive charges and reducing consumers’ searching costs and, second, that recommended prices are very useful for cost appraisal if a litigant is condemned to pay the legal expenses of the opposing party. Thus, recommended fee schedules could be justified to some extent if they represented the cost of providing the services. We test this hypothesis using cross‐section data on a subset of recommended prices by 52 Spanish bar associations and cost data on their territorial jurisdictions. Our empirical results indicate that prices recommended by bar associations are unrelated to the cost of legal services and therefore we conclude that recommended prices have merely an anticompetitive effect.

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In this work, the volatile fraction of unsmoked and smoked Herreno cheese, a type of soft cheese from the Canary Islands, has been characterized for the first time. In order to evaluate if the position in the smokehouse could influence the volatile profile of the smoked variety, cheeses smoked at two different heights were studied. The volatile components were extracted by Solid Phase Microextraction using a divinylbenzene/carboxen/polydimethylsiloxane fiber, followed by Gas Chromatography/Mass Spectrometry. In total, 228 components were detected. The most numerous groups of components in the unsmoked Herreno cheese were hydrocarbons, followed by terpenes and sesquiterpenes, whereas acids and ketones were the most abundant. It is worth noticing the high number of aldehydes and ketones, and the low number of alcohols and esters in this cheese in relation to others, as well as the presence of some specific unsaturated hydrocarbons, terpenes, sesquiterpenes and nitrogenated derivatives. The smoking process enriches the volatile profile of Herreno cheese with ketones and diketones, methyl esters, aliphatic and aromatic aldehydes, hydrocarbons, terpenes, nitrogenated compounds, and especially with ethers and phenolic derivatives. Among these, methylindanones or certain terpenes like a-terpinolene, have not been detected previously in other types of smoked cheese. Lastly, the results obtained suggest a slightly higher smoking degree in the cheeses smoked at a greater height.

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We study international environmental negotiations when agreements between countries can not be binding. A problem with this kind of negotiations is that countries have incentives for free-riding from such agreements. We develope a notion of equilibrium based on the assumption that countries can create and dissolve agreements in their seeking of a larger welfare. This approach leads to a larger degree of cooperation compared to models based on the internal-external stability approach.

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Drift appears to be crucial to study the stability properties of Nash equilibria in a component specifying different out-of-equilibrium behaviour. We propose a new microeconomic model of drift to be added to the learning process by which agents find their way to equilibrium. A key feature of the model is the sensitivity of the noisy agent to the proportion of agents in his player population playing the same strategy as his current one. We show that, 1. Perturbed Payoff-Positive and PayoffMonotone selection dynamics are capable of stabilizing pure non strict Nash equilibria in either singleton or nonsingleton component of equilibria; 2. The model is relevant to understand the role of drift in the behaviour observed in the laboratory for the Ultimatum Game and for predicting outcomes that can be experimentally tested. Hence, the selection dynamics model perturbed with the proposed drift may be seen as well as a new learning tool to understand observed behaviour.

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This paper models the mean and volatility spillovers of prices within the integrated Iberian and the interconnected Spanish and French electricity markets. Using the constant (CCC) and dynamic conditional correlation (DCC) bivariate models with three different specifications of the univariate variance processes, we study the extent to which increasing interconnection and harmonization in regulation have favoured price convergence. The data consist of daily prices calculated as the arithmetic mean of the hourly prices over a span from July 1st 2007 until February 29th 2012. The DCC model in which the variances of the univariate processes are specified with a VARMA(1,1) fits the data best for the integrated MIBEL whereas a CCC model with a GARCH(1,1) specification for the univariate variance processes is selected to model the price series in Spain and France. Results show that there are significant mean and volatility spillovers in the MIBEL, indicating strong interdependence between the two markets, while there is a weaker evidence of integration between the Spanish and French markets. We provide new evidence that the EU target of achieving a single electricity market largely depends on increasing trade between countries and homogeneous rules of market functioning.

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p(>= 2)-cyclic and contractive self-mappings on a set of subsets of a metric space which are simultaneously accretive on the whole metric space are investigated. The joint fulfilment of the p-cyclic contractiveness and accretive properties is formulated as well as potential relationships with cyclic self-mappings in order to be Kannan self-mappings. The existence and uniqueness of best proximity points and fixed points is also investigated as well as some related properties of composed self-mappings from the union of any two adjacent subsets, belonging to the initial set of subsets, to themselves.

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This paper is devoted to investigate the fixed points and best proximity points of multivalued cyclic self-mappings on a set of subsets of complete metric spaces endowed with a partial order under a generalized contractive condition involving a Hausdorff distance. The existence and uniqueness of fixed points of both the cyclic self-mapping and its associate composite self-mappings on each of the subsets are investigated, if the subsets in the cyclic disposal are nonempty, bounded and of nonempty convex intersection. The obtained results are extended to the existence of unique best proximity points in uniformly convex Banach spaces.

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This paper is devoted to the study of convergence properties of distances between points and the existence and uniqueness of best proximity and fixed points of the so-called semicyclic impulsive self-mappings on the union of a number of nonempty subsets in metric spaces. The convergences of distances between consecutive iterated points are studied in metric spaces, while those associated with convergence to best proximity points are set in uniformly convex Banach spaces which are simultaneously complete metric spaces. The concept of semicyclic self-mappings generalizes the well-known one of cyclic ones in the sense that the iterated sequences built through such mappings are allowed to have images located in the same subset as their pre-image. The self-mappings under study might be in the most general case impulsive in the sense that they are composite mappings consisting of two self-mappings, and one of them is eventually discontinuous. Thus, the developed formalism can be applied to the study of stability of a class of impulsive differential equations and that of their discrete counterparts. Some application examples to impulsive differential equations are also given.

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This paper presents some further results on proximal and asymptotic proximal contractions and on a class of generalized weak proximal contractions in metric spaces. The generalizations are stated for non-self-mappings of the forms for and , or , subject to and , such that converges uniformly to T, and the distances are iteration-dependent, where , , and are non-empty subsets of X, for , where is a metric space, provided that the set-theoretic limit of the sequences of closed sets and exist as and that the countable infinite unions of the closed sets are closed. The convergence of the sequences in the domain and the image sets of the non-self-mapping, as well as the existence and uniqueness of the best proximity points, are also investigated if the metric space is complete. Two application examples are also given, being concerned, respectively, with the solutions through pseudo-inverses of both compatible and incompatible linear algebraic systems and with the parametrical