The regulation of gears constitutes a fisheries management strategy primarily aimed at preserving immature fish. This approach circumvents the politically sensitive and difficult-to-enforce direct restrictions on entry and catches that characterize many developing contexts. However, existing...

We study how income inequality affects monetary policy through the inequality-household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling aggregate saving rate and decreasing bankruptcies during the household's...

This study investigates the functioning of modern payment systems through the lens of banks‘ maturity mismatch practices, and it examines the effects of banks‘ refusal to roll over short-term interbank liabilities on financial stability. Within an agent-based stock-flow consistent framework,...

The continuous double auction (CDA) is a well-studied, widely used institution for trading. But there is no generally accepted theory about the dynamics of price formation within the first period that has survived experimental testing. In this paper, we describe a model of behavior (called...

this study investigates the design of incentive compensation and agents’ behaviors in product innovation. We develop a dynamic control model in which product quality improvement depends on both instantaneous investment and manager’s innovative effort. Moreover, we consider the sensitivity of...