Partial Cooperative Equilibria: Existence and Characterization

We study the solution concepts of partial cooperative Cournot-Nash equilibria and partial cooperative Stackelberg equilibria. The partial cooperative Cournot-Nash equilibrium is axiomatically characterized by using notions of rationality, consistency and converse consistency with regard to reduced games. We also establish sufficient conditions for which partial cooperative Cournot-Nash equilibria and partial cooperative Stackelberg equilibria exist in supermodular games. Finally, we provide an application to strategic network formation where such solution concepts may be useful.

China's Sovereign Wealth Funds: Problem or Panacea?

China’s impressive economic growth has led to the accumulation of massive financial assets. The emergence of sovereign wealth funds (SWFs), as a governmental investment device for its excessive foreign reserves, symbolizes a major rebalancing of economic power. With its investment portfolios drastically diversified for well-established financial institutions as well as some strategic sectors, a seminal debate seems centered on whether China’s SWFs are in furtherance of purely commercial or geopolitically strategic purposes. Under the sophisticated hard laws associated with international initiatives, it is unlikely that the SWFs-related investment would distort the global financial system, and genuinely threaten national security, which assumption may only exist at a hypothetical level. The potential protectionism would inevitably retard the world economy’s recovery, were it not to be proportionately addressed. A most significant necessity appears to be to strike a proportionate balance between sustaining the credibility of open investment environment and efficiently minimizing implications of SWFs political arenas.

Robust Dynamic Pricing Over Infinite Horizon in The Presence of Model Uncertainty( 2* Journal)

This paper studies a problem of dynamic pricing faced by a retailer with limited inventory, uncertain about the demand rate model, aiming to maximize expected discounted revenue over an infinite time horizon. The retailer doubts his demand model which is generated by historical data and views it as an approximation. Uncertainty in the demand rate model is represented by a notion of generalized relative entropy process, and the robust pricing problem is formulated as a two-player zero-sum stochastic differential game. The pricing policy is obtained through the Hamilton-Jacobi-Isaacs (HJI) equation. The existence and uniqueness of the solution of the HJI equation is shown and a verification theorem is proved to show that the solution of the HJI equation is indeed the value function of the pricing problem. The results are illustrated by an example with exponential nominal demand rate.

Discrete solitons and vortices in hexagonal and honeycomb lattices: Existence, stability, and dynamics

We consider a prototypical dynamical lattice model, namely, the discrete nonlinear Schrodinger equation on nonsquare lattice geometries. We present a systematic classification of the solutions that arise in principal six-lattice-site and three-lattice-site contours in the form of both discrete multipole solitons and discrete vortices. Additionally to identifying the possible states, we analytically track their linear stability both qualitatively and quantitatively. We find that among the six-site configurations, the

Existence and stability of multisite breathers in honeycomb and hexagonal lattices

We study the existence and stability of multisite discrete breathers in two prototypical non-square Klein-Gordon lattices, namely a honeycomb and a hexagonal one. In the honeycomb case we consider six-site configurations and find that for soft potential and positive coupling the out-of-phase breather configuration and the charge-two vortex breather are linearly stable, while the in-phase and charge-one vortex states are unstable. In the hexagonal lattice, we first consider three-site configurations. In the case of soft potential and positive coupling, the in-phase configuration is unstable and the charge-one vortex is linearly stable. The out-of-phase configuration here is found to always be linearly unstable. We then turn to six-site configurations in the hexagonal lattice. The stability results in this case are the same as in the six-site configurations in the honeycomb lattice. For all configurations in both lattices, the stability results are reversed in the setting of either hard potential or negative coupling. The study is complemented by numerical simulations which are in very good agreement with the theoretical predictions. Since neither the form of the on-site potential nor the sign of the coupling parameter involved have been prescribed, this description can accommodate inverse-dispersive systems (e. g. supporting backward waves) such as transverse dust-lattice oscillations in dusty plasma (Debye) crystals or analogous modes in molecular chains.

A short proof of existence of disjoint hypercyclic operators

We give a short proof of existence of disjoint hypercyclic tuples of operators of any given length on any separable infinite dimensional Fr\'echet space. Similar argument provides disjoint dual hypercyclic tuples of operators of any length on any infinite dimensional Banach space with separable dual.

Enabling Free On-line Access to UK Law Reports: The Copyright Problem

The history of publishing legal decisions (law reporting) in the UK has been that of a privatised system since its inception, and that history has encompassed several hundred years. The privatised nature of this has meant that the product (the law report) has been, except in limited cases, viewed as the property of the publisher, rather than the property of the court or public. BAILII is an open access legal database that came about in part because of the copyrighted, privatised nature of this legal information. In this paper, we will outline the problem of access to pre-2000 judgments in the UK and consider whether there are legal or other remedies which might enable BAILII to both develop a richer historic database and also to work in harmony, rather than in competition, with legal publishers. We argue that public access to case law is an essential requirement in a democratic common law system, and that BAILII should be seen as a potential step towards a National Law Library.

A hybrid metaheuristic approach to the university course timetabling problem

This paper describes the development of a novel metaheuristic that combines an electromagnetic-like mechanism (EM) and the great deluge algorithm (GD) for the University course timetabling problem. This well-known timetabling problem assigns lectures to specific numbers of timeslots and rooms maximizing the overall quality of the timetable while taking various constraints into account. EM is a population-based stochastic global optimization algorithm that is based on the theory of physics, simulating attraction and repulsion of sample points in moving toward optimality. GD is a local search procedure that allows worse solutions to be accepted based on some given upper boundary or ‘level’. In this paper, the dynamic force calculated from the attraction-repulsion mechanism is used as a decreasing rate to update the ‘level’ within the search process. The proposed method has been applied to a range of benchmark university course timetabling test problems from the literature. Moreover, the viability of the method has been tested by comparing its results with other reported results from the literature, demonstrating that the method is able to produce improved solutions to those currently published. We believe this is due to the combination of both approaches and the ability of the resultant algorithm to converge all solutions at every search process.

Solving the problem of diffraction of an optical-band electromagnetic wave by metal nanostructured aperture arrays with the use of the method of impedance boundary conditions

The problem of diffraction of an optical wave by a 2D periodic metal aperture array with square, circular, and ring apertures is solved with allowance for the finite permittivity of a metal in the optical band. The correctness of the obtained results is verified through comparison with experimental data. It is shown that the transmission coefficient can be substantially greater than the corresponding value reached in the case of diffraction by a grating in a perfectly conducting screen.