American Institute of Mathematical Sciences

ISSN:
2164-6066

eISSN:
2164-6074

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Volume 1, 2014

The Journal of Dynamics and Games (JDG) is an applied mathematicsjournal that publishes high quality peer-review and expository papersin all research areas of expertise of its editors. The main focus ofJDG is in the interface of Dynamical Systems and Game Theory. Click here for more information

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The submissions to JDG regular issues are done by email to the editors in chief or directly to one of the editors. The authors should ask for an email from the editors in chief confirming the reception of the paper.

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• AIMS is a member of COPE. All AIMS journals adhere to the publication ethics and malpractice policies outlined by COPE.
• Publishes 4 issues a year in January, April, July and October.
• Publishes online only.
• Indexed in Emerging Sources Citation Index, MathSciNet and Zentralblatt MATH.
• Archived in Portico and CLOCKSS.

Note: “Most Cited” is by Cross-Ref , and “Most Downloaded” is based on available data in the new website.

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2018, 5(1) : 41-59 doi: 10.3934/jdg.2018005 +[Abstract](163) +[HTML](161) +[PDF](485.2KB)
Abstract:

We develop an endogenous growth model with two sectors, manufacturing (learning) and non-manufacturing (non-learning). Domestic technological knowledge is only produced in the manufacturing sector through learning by doing. The knowledge produced in the manufacturing sector is available to the non-manufacturing sector. We obtain policy functions for the market economy and the social planner's economy. Thus, with the Pareto-optimal solution, we obtain the path of the optimal investment subsidy rate to the manufacturing sector for the market economy. The optimal investment subsidy rate increases as the market economy moves to the Pareto-optimal steady state.

2018, 5(1) : 31-39 doi: 10.3934/jdg.2018004 +[Abstract](179) +[HTML](110) +[PDF](295.3KB)
Abstract:

In this paper we show several results regarding to the classical cost sharing problem when each agent requires a set of services but they can share the benefits of one unit of each service, i.e. there is non rival consumption. Specifically, we show a characterized solution for this problem, mainly adapting the well-known axioms that characterize the Shapley value for TU-games into our context. Finally, we present some additional properties that the shown solution satisfy.

2018, 5(1) : 21-30 doi: 10.3934/jdg.2018003 +[Abstract](230) +[HTML](109) +[PDF](329.0KB)
Abstract:

We propose two methodologies to price sovereign bond options in emerging markets. The motivation is to provide hedging protection against price fluctuations, departing from the not liquid data provided by the stock exchange. Taking this into account, we first compute prices provided by the Jamshidian formula, when modeling the interest rate through Vasicek model, with parameters estimated with the help of the Kalman filter. The second methodology is the pricing strategy provided by the Black-Derman-Toy tree model. A numerical comparison is carried out. The first equilibrium approach provides parsimonious modeling, is less sensitive to daily changes and more robust, while the second non-arbitrage approach provides more fluctuating but also what can be considered more accurate option prices.

2018, 5(1) : 9-20 doi: 10.3934/jdg.2018002 +[Abstract](187) +[HTML](134) +[PDF](333.3KB)
Abstract:

This work provides an analysis of linear rules for bankruptcy problems and allocation problems from an axiomatic point of view and we extend the study of the additivity property presented in Bergantiños and Méndez-Naya [1] and Bergantiños and Vidal-Puga [2]. We offer a decomposition for the space of allocation problems into direct sum of subspaces that are relevant to the study of linear rules and obtain characterizations of certain classes of rules. Furthermore, for bankruptcy problems we propose an alternative version of the additivity property.

2018, 5(1) : 1-7 doi: 10.3934/jdg.2018001 +[Abstract](403) +[HTML](137) +[PDF](346.6KB)
Abstract:

Myopic economic agents are well studied in economics. They are impatient. A myopic topology is a topology such that every continuous preference relation is myopic. If the space is \begin{document}$l^{∞}$\end{document}, the Mackey topology \begin{document}$τ _{M}(l^{∞},l^{1})$\end{document}, is the largest locally convex such topology. However there is a growing interest in patient consumers. In this paper we analyze the extreme case of consumers who only value the long run. We call such a consumer hyperopic. We define hyperopic preferences and hyperopic topologies. We show the existence of the largest locally convex hyperopic topology, characterize its dual and determine its relationship with the norm dual of \begin{document}$l^{∞}$\end{document}.

2017doi: 10.3934/jdg.2018006 +[Abstract](118) +[HTML](120) +[PDF](703.74KB)
2017doi: 10.3934/jdg.2018007 +[Abstract](152) +[HTML](64) +[PDF](368.57KB)
2017doi: 10.3934/jdg.2018008 +[Abstract](90) +[HTML](69) +[PDF](580.84KB)
2017doi: 10.3934/jdg.2018009 +[Abstract](95) +[HTML](80) +[PDF](533.89KB)
2014, 1(3) : 471-484 doi: 10.3934/jdg.2014.1.471 +[Abstract](189) +[PDF](385.9KB) Cited By(8)
2014, 1(3) : 363-375 doi: 10.3934/jdg.2014.1.363 +[Abstract](228) +[PDF](386.0KB) Cited By(6)
2014, 1(3) : 411-445 doi: 10.3934/jdg.2014.1.411 +[Abstract](166) +[PDF](550.1KB) Cited By(6)
2015, 2(1) : 65-87 doi: 10.3934/jdg.2015.2.65 +[Abstract](170) +[PDF](535.9KB) Cited By(4)
2015, 2(1) : 103-115 doi: 10.3934/jdg.2015.2.103 +[Abstract](152) +[PDF](364.9KB) Cited By(4)
2014, 1(2) : 181-254 doi: 10.3934/jdg.2014.1.181 +[Abstract](228) +[PDF](897.5KB) Cited By(4)
2014, 1(4) : 555-578 doi: 10.3934/jdg.2014.1.555 +[Abstract](287) +[PDF](527.0KB) Cited By(4)
2015, 2(3/4) : 257-287 doi: 10.3934/jdg.2015004 +[Abstract](202) +[PDF](538.5KB) Cited By(3)
2016, 3(4) : 371-398 doi: 10.3934/jdg.2016020 +[Abstract](268) +[PDF](831.3KB) Cited By(3)
2014, 1(1) : 121-151 doi: 10.3934/jdg.2014.1.121 +[Abstract](229) +[PDF](2417.1KB) Cited By(3)