The nonmonotonic formalism of partial equilibrium logic (PEL) was introduced and studied in [1,2] and proposed as a logical foundation for the partial stable and well-founded semantics of logic programs. Here we study further logical properties of PEL and some techniques to compute partial equilibrium models.

This study experimentally evaluates the performance of partial equilibrium mechanisms when different sectors run their separately, despite existence complementarity between them. In our simple laboratory experiment setting that includes two sectors, each sector runs top-trading-cycle mechanism. There is a Pareto-dominant equilibrium, but it requires coordination across sectors. Our results show...

This paper develops a model in which platforms are partially binding: a candidate who implements a policy different from his platform must pay a cost of betrayal that increases with the size of the discrepancy. I also suppose that voters are uncertain about candidate preferences for policies. If voters believe that a candidate is likely to be extreme, there exists a semi-separating equilibrium:...

This research compares partial equilibrium and statistical time-series approaches to hedging. The finance literature stresses the former approach, while the applied economics literature has focused on the latter. We compare the out-of-sample hedging effectiveness of the two approaches when hedging commodity price risk using futures contracts. For various methods of parameter estimation and infe...

Partial equilibrium analysis has a conceptual dilemma that its object should be negligibly small so as not to affect allocation of the other commodities but then the consumer does not care for it and the notion of willingness to pay for it does not make sense. In the setting of a continuum of commodities, we propose a limiting procedure which transforms the many-commodity environment into a par...

We propose a solution to a long-standing problem in the foundations of well-founded semantics (WFS) for logic programs. The problem addressed is this: which (non-modal) logic can be considered adequate for well-founded semantics in the sense that its minimal models (appropriately defined) coincide with the partial stable models of a logic program? We approach this problem by identifying the HT ...

thermodynamic restrictions and simultaneous effects of operational conditions on the homogeneous rhodium-catalyzed carbonylation of methanol are studied in this line of research. it is shown that the general nrtl-virial model can be appropriated to study thermodynamics of the carbonylation. it is obtained that the reaction is kinetically and thermodynamically reasonable at temperatures above 42...