12,172 research outputs found
A Firm\u27s Bid Price Curve and the Neoclassical Theory of Production: A Correction and Further Analysis
Self-Organization of Balanced Nodes in Random Networks with Transportation Bandwidths
We apply statistical physics to study the task of resource allocation in
random networks with limited bandwidths along the transportation links. The
mean-field approach is applicable when the connectivity is sufficiently high.
It allows us to derive the resource shortage of a node as a well-defined
function of its capacity. For networks with uniformly high connectivity, an
efficient profile of the allocated resources is obtained, which exhibits
features similar to the Maxwell construction. These results have good
agreements with simulations, where nodes self-organize to balance their
shortages, forming extensive clusters of nodes interconnected by unsaturated
links. The deviations from the mean-field analyses show that nodes are likely
to be rich in the locality of gifted neighbors. In scale-free networks, hubs
make sacrifice for enhanced balancing of nodes with low connectivity.Comment: 7 pages, 8 figure
Dynamics underlying Box-office: Movie Competition on Recommender Systems
We introduce a simple model to study movie competition in the recommender
systems. Movies of heterogeneous quality compete against each other through
viewers' reviews and generate interesting dynamics of box-office. By assuming
mean-field interactions between the competing movies, we show that run-away
effect of popularity spreading is triggered by defeating the average review
score, leading to hits in box-office. The average review score thus
characterizes the critical movie quality necessary for transition from
box-office bombs to blockbusters. The major factors affecting the critical
review score are examined. By iterating the mean-field dynamical equations, we
obtain qualitative agreements with simulations and real systems in the
dynamical forms of box-office, revealing the significant role of competition in
understanding box-office dynamics.Comment: 8 pages, 6 figure
Highlights from international workshops on therapeutic endoscopy (Hong Kong)
published_or_final_versio
Models of Financial Markets with Extensive Participation Incentives
We consider models of financial markets in which all parties involved find
incentives to participate. Strategies are evaluated directly by their virtual
wealths. By tuning the price sensitivity and market impact, a phase diagram
with several attractor behaviors resembling those of real markets emerge,
reflecting the roles played by the arbitrageurs and trendsetters, and including
a phase with irregular price trends and positive sums. The positive-sumness of
the players' wealths provides participation incentives for them. Evolution and
the bid-ask spread provide mechanisms for the gain in wealth of both the
players and market-makers. New players survive in the market if the
evolutionary rate is sufficiently slow. We test the applicability of the model
on real Hang Seng Index data over 20 years. Comparisons with other models show
that our model has a superior average performance when applied to real
financial data.Comment: 17 pages, 16 figure
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