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Local Stability (local + stability)

Distribution by Scientific Domains

Life Sciences	40%
Business, Economics, Finance and Accounting	40%

Selected Abstracts

Two Competing Models of How People Learn in Games

ECONOMETRICA, Issue 6 2002
Ed Hopkins
Reinforcement learning and stochastic fictitious play are apparent rivals as models of human learning. They embody quite different assumptions about the processing of information and optimization. This paper compares their properties and finds that they are far more similar than were thought. In particular, the expected motion of stochastic fictitious play and reinforcement learning with experimentation can both be written as a perturbed form of the evolutionary replicator dynamics. Therefore they will in many cases have the same asymptotic behavior. In particular, local stability of mixed equilibria under stochastic fictitious play implies local stability under perturbed reinforcement learning. The main identifiable difference between the two models is speed: stochastic fictitious play gives rise to faster learning. [source]

Stability analysis and guaranteed domain of attraction for a class of hybrid systems: an LMI approach

INTERNATIONAL JOURNAL OF ROBUST AND NONLINEAR CONTROL, Issue 5 2003
S. Palomino Bean
Abstract This paper presents sufficient conditions for the regional stability problem for switched piecewise affine systems, a special class of Hybrid Systems. This class of systems are described by an affine differential equation of the type x,=A(,)x+b(,), where x denotes the continuous state vector and , is a vector of logical variables that modifies the local model of the system in accordance with the continuous dynamics. Using a Lyapunov function of the type v(x)=x,P(x)x, we present LMI conditions that, when feasible, guarantee local stability of the origin of the switched system. Examples of switched affine systems are used to illustrate the results. Copyright © 2003 John Wiley & Sons, Ltd. [source]

AS-AD REVISITED: OVERSHOOTING ADJUSTMENT DYNAMICS UNDER NAÏVE EXPECTATIONS

METROECONOMICA, Issue 4 2008
Harald Badinger
ABSTRACT We analyse the adjustment dynamics from a short-term to a medium-term equilibrium in a standard AS-AD model à la Blanchard (2006, Macroeconomics, 4th edn, Prentice-Hall, Upper Saddle River, NJ) for an open economy with fixed and flexible exchange rates. An explicit analysis suggests the local stability of the medium-term equilibrium. However, an overshooting adjustment dynamics is possible for the exchange rate, a result that directly relates to the famous Dornbusch (1976, Journal of Political Economy, 84, pp. 1161,1176) analysis. In contrast to the latter, in the Blanchard framework it is obtained without assuming rational expectations and without relying upon saddle-path stability. [source]

POPULATION EXTINCTION IN DETERMINISTICAND STOCHASTIC DISCRETE-TIME EPIDEMIC MODELS WITH PERIODIC COEFFICIENTS WITH APPLICATIONS TO AMPHIBIAN POPULATIONS

NATURAL RESOURCE MODELING, Issue 2 2006
KEITH E. EMMERT
ABSTRACT. Discrete-time deterministic and stochastic epidemic models are formulated for the spread of disease in a structured host population. The models have applications to a fungal pathogen affecting amphibian populations. The host population is structured according to two developmental stages, juveniles and adults. The juvenile stage is a post-metamorphic, nonreproductive stage, whereas the adult stage is reproductive. Each developmental stage is further subdivided according to disease status, either susceptible or infected. There is no recovery from disease. Each year is divided into a fixed number of periods, the first period represents a time of births and the remaining time periods there are no births, only survival within a stage, transition to another stage or transmission of infection. Conditions are derived for population extinction and for local stability of the disease-free equilibrium and the endemic equilibrium. It is shown that high transmission rates can destabilize the disease-free equilibrium and low survival probabilities can lead to population extinction. Numerical simulations illustrate the dynamics of the deterministic and stochastic models. [source]

Qualitative modelling for the development of a sustainable management strategy for the Peruvian scallop Argopecten purpuratus (Lamarck 1819)

AQUATIC CONSERVATION: MARINE AND FRESHWATER ECOSYSTEMS, Issue 3 2002
Marco Ortiz
Abstract 1.This study is the first attempt using Levins's Theory (loop analysis) in order to develop a sustainable management for the scallop, Argopecten purpuratus, fishery in Peru during El Niño-Southern Oscillation events (ENSO) and upwelling conditions. Based on this theoretical framework, it was possible to estimate the local stability for each of these model systems and to follow the qualitative changes of the variables in response to external factors. 2.Based on our results, we suggest the following management policies to be implemented: (1) during ENSO events the size at the first capture of the scallops should be >70 mm and (2) the increase in the number of fishermen during ENSO events must be prevented. Both measures increase the sustainability of fishery under ENSO and upwelling conditions. The ecological models predict that during ENSO and upwelling events, any management strategy to increase the recruitment of the scallop would not have a positive impact on the adult stock. 3.Finally, we suggest that more efforts must be focused on the development of extended eco-social models, which incorporate further social and economic variables, increasing realism of the abstractions for this fishery activity. Copyright © 2002 John Wiley & Sons, Ltd. [source]