This study reconsiders the problem of hedging a liability by a portfolio made of a riskless asset and an underlying (underlying).

The “Montagnes Russes” algorithm for finding the global minima of a lower semi-continuous function (thus involving state constraints) is a descent algorithm applied to an auxiliary function whose local and global minima are the global minima of the original function. Although this auxiliary...

This paper deals with inertia functions in control theory introduced in Aubin, Bernardo and Saint-Pierre (2004, 2005) and their adaptation to dynamical games. The inertia function associates with any initial state-control pair the smallest of the worst norms over time of the velocities of the...

This paper examines a decentralized, dynamical, pure exchange economy in which changes in an individual consumers demand depend on his own consumption and on prices. An ‘instantaneous Walras law’ provides a sufficient condition for the existence of viable exchange trajectories. Such dynamic...