Dynamic User Equilibrium (DUE)

The quantitative analysis of road network traffic performed through static assignment models yields the transport demand-supply equilibrium under the assumption of within-day stationarity. This implies that the relevant variables of the system (i.e. user flows, travel times, costs) are assumed to be constant over time within the reference period. Although static assignment models satisfactorily reproduce congestion effects on traffic flow and cost patterns, they do not allow to represent the variation over time of the demand flows (i.e. around the rush hour) and of the network performances (i.e. in presence of time varying tolls, lane usage, signal plans, link usage permission); most importantly, they cannot reproduce some important dynamic phenomena, such as the formation and dispersion of vehicle queues due to the temporary over-saturation of road sections, and the spillback, that is queues propagation towards upstream roads

Dynamic Equilibrium Bunching

In this paper, we analyze the asymmetric pure strategy equilibria in a dynamic game of pure information externality. Each player receives a private signal and chooses whether and when to invest. In some of the periods, only a subgroup of the players make decisions, which we call bunching, while the rest of the players do not invest regardless of their signals. Bunching is different from herding; it occurs in the first period and recursively until herding takes place or the game runs out of undecided players. We find that any asymmetric pure strategy equilibrium is more efficient than the symmetric mixed strategy equilibrium. When players become patient enough, herding of investment disappears in the most efficient asymmetric pure strategy equilibrium, while the least efficient asymmetric pure strategy equilibrium resembles those in a fixed timing model, producing an exact match when the discount factor is equal to 1. Bunch sizes are shown to be independent of the total number of players; adding more players to the game need not change early players' behavior. All these are unique properties of the asymmetric pure strategy equilibria. We also show that the asymmetric pure strategy equilibria can accommodate small heterogeneities of the players in costs of acquiring signals, discount factors, or degree of risk aversion. In any of these environments, there exists a unique welfare maximizing equilibrium which provides a natural way for the players to coordinate.bunching, herding, endogenous timing, asymmetric equilibrium, information externality

Subjective Equilibria under Beliefs of Exogenous Uncertainty

We present a subjective equilibrium notion (called "subjective equilibrium under beliefs of exogenous uncertainty (SEBEU)" for stochastic dynamic games in which each player chooses its decisions under the (incorrect) belief that a stochastic environment process driving the system is exogenous whereas in actuality this process is a solution of closed-loop dynamics affected by each individual player. Players observe past realizations of the environment variables and their local information. At equilibrium, if players are given the full distribution of the stochastic environment process as if it were an exogenous process, they would have no incentive to unilaterally deviate from their strategies. This notion thus generalizes what is known as the price-taking equilibrium in prior literature to a stochastic and dynamic setup. We establish existence of SEBEU, study various properties and present explicit solutions. We obtain the $\epsilon$-Nash equilibrium property of SEBEU when there are many players

"Hysteresis in Dynamic General Equilibrium Models with Cash-in-Advance Constraints"

In this paper, we investigate equilibrium cycles in dynamic general equilibrium models with cash-in-advance constraints. Our findings are two-fold. First, in such models, if an equilibrium cycle exists, then there also exists a continuum of equilibrium cycles in its neighborhood. Second, the limit cycle, to which a dynamic path converges, varies continuously according to the initial distribution of the money holdings. Thus, temporary shocks that affect the initial distribution have permanent effects in such models; that is, such models exhibit hysteresis. Furthermore, we also explore the logic behind the results.

Relaxational dynamics in 3D randomly diluted Ising models

We study the purely relaxational dynamics (model A) at criticality in three-dimensional disordered Ising systems whose static critical behaviour belongs to the randomly diluted Ising universality class. We consider the site-diluted and bond-diluted Ising models, and the +- J Ising model along the paramagnetic-ferromagnetic transition line. We perform Monte Carlo simulations at the critical point using the Metropolis algorithm and study the dynamic behaviour in equilibrium at various values of the disorder parameter. The results provide a robust evidence of the existence of a unique model-A dynamic universality class which describes the relaxational critical dynamics in all considered models. In particular, the analysis of the size-dependence of suitably defined autocorrelation times at the critical point provides the estimate z=2.35(2) for the universal dynamic critical exponent. We also study the off-equilibrium relaxational dynamics following a quench from T=\infty to T=T_c. In agreement with the field-theory scenario, the analysis of the off-equilibrium dynamic critical behavior gives an estimate of z that is perfectly consistent with the equilibrium estimate z=2.35(2).Comment: 38 page

Azormod dynamic general equilibrium model for Azores

The main objective of this paper is to present a multi-sectoral, multi-regional dynamic modelling platform of the Azores economy integrated within the European and global context. The platform will have the highest capabilities of analysis and forecasting in Azores for problems related to structural sectoral and regional issues, agriculture, labour markets, public finance, trade, EU funds, regional development, environment, and energy. The modelling platform is intended to act as an analytical and quantitative support for policy-making.info:eu-repo/semantics/publishedVersio