Oscillations in a decentralized economic network

The study of exchange markets dates back to LeonWalras's general equilibrium theory. Since then the economic market has been studied for its' equilibrium properties, fairness of allocations of private and public goods, and even the psychological incentives of participants. This paper studies the dynamics of an exchange economy built on a network of markets where consumers trade with suppliers to optimize utility. Viewing the market in as a decentralized network we study the system from the usual control theory point of view, evaluating the system's dynamic performance, stability and robustness. It is shown that certain consumer demand dynamics can lead to oscillations while others can converge to optimal allocations. © 2011 IFAC.

Road damage due to dynamic tyre forces measured on a public road

This paper describes a series of tests conducted on a UK trunk road, in which the dynamic tyre forces generated by over 1500 heavy goods vehicles (HGVs) were measured using a load measuring mat containing 144 capacitive strip sensors. The data was used to investigate the relative road damaging potential of the various classes of vehicles, and the degree of spatial repeatability of tyre forces present in a typical highway fleet. Approximately half the vehicles tested were found to contribute to a spatially repeatable pattern of pavement loading. On average, air suspended vehicles were found to generate lower dynamic load coefficients than steel suspended vehicles. However, air suspended vehicles also generated higher mean levels of theoretical road damage (aggregate force) than steel suspended vehicles, indicating that the ranking of suspensions depends on the pavement damage criterion used.