Characterizing complex dynamic behaviors arising from various inclined oil–water two-phase flow patterns is a challenging problem in the fields of nonlinear dynamics and fluid mechanics. We systematically carried out inclined oil–water two-phase flow experiments for measuring the time series...

We embed Max Weber (1958)'s spirit of capitalism (SOC) into an otherwise standard Lucas' tree asset pricing model, by assuming that economic agents care about their social status and that the latter is related to financial wealth. We show that, absent uncertainty, for a wide range of values for...

This paper analyzes the role of financial development as a source of endogenous instability in small open economies. By assuming that firms face credit constraints, our model displays a complex dynamic behavior for intermediate values of the parameter representing the level of financial...

We seek to shed new light on the social process of political opinion formation from an evolutionary perspective.We propose a model in which heterogeneous citizens collectively learn and modify their opinions about the most convenient size of public expenditure for the economy. In Section 1, we...

What are the sources of commodity price volatility changes? Based on observation of the palm-oil market (1818-1999), our hypothesis is that the superimposition of short-distance operators located near the export supply, whose expectation horizon is limited to a few weeks, and long-distance...

The present study examines the possible roles of cortical chaos in generating novel actions for achieving specified goals. The proposed neural network model consists of a sensory-forward model responsible for parietal lobe functions, a chaotic network model for premotor functions and prefrontal...

Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last...

The bulk of research in conflict theory turns on the pivot of modern decision theory that is, in turn, concerned with an optimal decision making, which is predicated upon an ideal decision maker who is fully informed, able to compute with perfect accuracy, and hence fully rational. Conflict is...