This paper explores equilibrium and optimal matching behavior in constant returns to scale search economies with heterogeneous agents. We show that optimal matching behavior may involve a nontrivial limit cycle, and that there may exist a continuum of cyclical perfect foresight equilibria. These results hold for a generic set of parameter values. They are due to a trading externality (Diamond 1...

Daily price limits are adopted by many securities exchanges in countries such as the USA, Canada, Japan and various other countries in Europe and Asia, in order to increase the stability of the financial market. These limits confine the price of the financial asset during all trading stages of any trading day to a range, usually determined based on the previous day’s closing price. In this pape...

A multi-class single-server system with general service time distributions is studied in a moderate deviation heavy traffic regime. In the scaling limit, an optimal control problem associated with the model is shown to be governed by a differential game that can be explicitly solved. While the characterization of the limit by a differential game is akin to results at the large deviation scale, ...

Backlash is one of several discontinuities found in different kinds of systems; it can be found in actuators of different types, such as mechanical and hydraulic, giving way to unwanted effects in the system behavior. In this chapter, three different control approaches are derived to stabilize mechanical systems in which this phenomenon is present in the actuators of the system. First, an indep...

In this note we first characterize the periodic trajectories (or, equivalently, the limit cycles) of a Boolean network, and their global attractiveness. We then investigate under which conditions all the trajectories of a Boolean control network may be forced to converge to the same periodic trajectory. If every trajectory can be driven to such a periodic trajectory, this is possible by means o...

This paper continues our investigations into the passivity-based control of the compass gait biped. It was shown in [14] for the compass gait biped, and in [15] for the general case, that a passive limit cycle for a given constant slope can be made slope invariant via potential energy shaping control. In this paper we consider the application of total energy shaping to this problem. Using a con...