This paper provides an easily verifiable sufficient condition for topological chaos for unimodal maps which can be satisfied when the well-known Li Yorke condition is not satisfied. It then shows how this result can be applied to a model of endogenous growth with externalities to establish the existence of chaotic equilibrium growth paths in that framework. Journal of Economic Literature Classi...

This paper shows that in a buffer stock saving model, wealth-to-income and other interesting variables have unique stable invariant distributions. Previously this ergodic property has only been conjectured and demonstrated numerically by means of simulations. The proof proceeds by extending earlier results about the existence and uniqueness of an ergodic distribution to Markov processes on non-...

During vacuum carburizing, coarse reticulated carbides tend to precipitate along grain boundaries due high-carbon-potential conditions. This phenomenon is often one of the main factors in failure conventional gear steels. In this paper, a novel solid-solution carburizing process was proposed achieve nano-carbide formation surface layer, and material thermodynamic calculations were combined stud...

Improving “ last-mile” public service delivery is a recurring challenge in developing countries. Could the widespread adoption of mobile phones provide scalable, cost-effective means for improvement? We use large-scale experiment to evaluate impact phone-based monitoring on program that transferred nearly billion dollars 5.7 million Indian farmers. In randomly selected jurisdictions, officials ...

We study the celebrated Phelps-Koopmans theorem in environments with nonconvex production technologies. We argue that a robust failure of the theorem occurs in such environments. Specifically, we prove that the Phelps-Koopmans theorem must fail whenever the net output of the aggregate production function f (x), given by f (x) − x, is increasing in any region between the golden rule and the maxi...

In a partially-specified correlated equilibrium (PSCE ) the players are partially informed of the conditional strategies of the other players, and they best respond to the worst-case possible strategy. We construct a decentralized procedure that converges to PSCE when the monitoring is imperfect. This procedure is based on minimizing conditional regret when players obtain noisy signals that dep...

We introduce an envelope condition method (ECM) for solving dynamic programming problems. The ECM method is simple to implement, dominates conventional value function iteration and is comparable in accuracy and cost to Carroll’s (2005) endogenous grid method.   : C6, C61, C63, C68   : Numerical dynamic programming; Value function iteration; Endogenous grid; Envelope cond...

A dynamic model with learning and adaptation captures the evolution in trader beliefs and trading strategies. Through a process of learning and observation, traders improve their understanding of the market. Traders also engage in a process of adaptation by switching between trading strategies based on past performance. The asymptotic properties are derived analytically, demonstrating that conv...

Solid state p-type dye-sensitized solar cells (p-ssDSCs) have been proposed and fabricated for the first time, using the organic dye P1 as the sensitizer on mesoporous NiO and phenyl-C61-butyric acid methyl ester (PCBM) as the electron conductor. The p-ssDSC has shown an impressive open circuit photovoltage of 620 mV. Femtosecond and nanosecond transient absorption spectroscopy has given eviden...

This paper presents a genetic algorithm to solve the orienteering problem, which is concerned with finding a path between a given set of control points, among which a start and an end point are specified, so as to maximize the total score collected subject to a prescribed distance constraint. Employing several sets of test problems from the literature, the performance of the genetic algorithm i...