In financial markets an excess of buying tends to drive prices up, and an excess of selling tends to drive them down. This is called market impact. Based on a simplified model for market making, it is possible to derive a unique functional form for market impact. This can be used to formulate a...

Ecological, toxicological, and pharmacological research is often concerned with the answer to the question of how a substance is processed within a biological system. The exact knowledge of the corresponding kinetic pattern forms the basis for a useful answer. In order to identify non-linear...

A profit-maximizing auctioneer can provide a public good to at most one of a number of groups of agents. The groups may have non-empty intersections. Each group member has a private value for the good being provided to each group, which is not commonly known. We investigate an auction mechanism...

In this paper the relatively new technique of neural nets is integrated in a traditional model of portfolio choice. On the basis of Arrow’s State Preference Model the investment decision depends on the expectation building process which consists of two components. The individual information...

Disease spread in most biological populations requires the proximity of agents. In populations where the individuals have spatial mobility, the contact graph is generated by the “collision dynamics” of the agents, and thus the evolution of epidemics couples directly to the spatial dynamics...

Kohn (The Cato Journal, 24(3):303–339, 2004) has argued that the neoclassical conception of economics—what he terms the “value paradigm”—has experienced diminishing marginal returns for some time. He suggests a new perspective is emerging—one that gives more import to economic...