The theory of competitive auctions offers a coherent framework for modelling coordination frictions as a non-cooperative game. The theory represents an advancement over cooperative approaches that make exogenous assumptions about how output is divided between buyers and sellers and about the forces that bring buyers and sellers into local markets. Moreover, unlike price posting models, which fi...

Open systems possess a dilemma whereby they both depend upon-and are subject to disruptions arising from-their exogenous environments. Organisations display this through the need manage inbound flow of supply from upstream nodes and outputs towards downstream customers, whilst also managing issues interactions with these other systems. At centre sits individual agents, whether be managers organ...

Grounded in a social functional perspective, this article examines the conditions under which group affect influences group functioning. Using meta-analysis, the authors leverage heterogeneity across 39 independent studies of 2,799 groups to understand how contextual factors-group affect source (exogenous or endogenous to the group) and group life span (one-shot or ongoing)-moderate the influen...

We leveraged exogenous variation in weather patterns across geographies to identify social contagion in exercise behaviours across a global social network. We estimated these contagion effects by combining daily global weather data, which creates exogenous variation in running among friends, with data on the network ties and daily exercise patterns of ∼1.1M individuals who ran over 350M km in a...

The paper compares universal social programs with targeted social benefits. We define "universality" as separability of the tax/transfer system in income and other non-monetary attributes, and introduce the concept of "parallel equity" a requirement that like differences in needs should be treated alike. We develop a model based on optimal tax theory which shows that under specified assumptions...

The problem of adaptive fault-tolerant control for linear systems with time-varying actuator faults including outage and loss of effectiveness is investigated in this paper. After presenting a time-varying actuator fault model, a novel adaptive observer is designed so that the fault parameter can be estimated fast. Here, the inevitable fault estimation error, as well as the exogenous disturbanc...

Structural models are models for empirical work that have parameters stable to changes in the economic environment. In structural econometric models, economic theory is used to develop mathematical statements about how a set of observable “endogenous” variables are related to another set of observable “exogenous” variables. Examples for structural modeling include demand analysis, schooling cho...

In the brief the synchronization problem for nonlinear systems under communication constraints and bounded exogenous disturbances is analyzed. The main contribution is in the evaluation of the synchronization error as a function of transmission rate and the upper bounds of the disturbances. Relevance of passifiability condition for controlled synchronization of masterslave nonlinear systems for...

We study an optimal investment problem under default risk where related information such as loss or recovery at default is considered as an exogenous random mark added at default time. Two types of agents who have different levels of information are considered. We first make precise the insider’s information flow by using the theory of enlargement of filtrations and then obtain explicit logarit...