scholarly journals A framework for quantifying deviations from dynamic equilibrium theory

2021 ◽  
Author(s):  
Michael Kalyuzhny ◽  
Curtis H. Flather ◽  
Nadav M. Shnerb ◽  
Ronen Kadmon
Keyword(s):  
Dynamic Equilibrium ◽  
Equilibrium Theory

Arbitrage Theory in Continuous Time

2019 ◽  
Author(s):  
Tomas Björk
Keyword(s):  
Incomplete Markets ◽  
Continuous Time ◽  
Dynamic Equilibrium ◽  
Factor Model ◽  
Good Deal ◽  
Financial Derivatives ◽  
Equilibrium Theory ◽  
Martingale Measure ◽  
Fourth Edition ◽  
Optimal Stopping Theory

The fourth edition of this textbook on pricing and hedging of financial derivatives, now also including dynamic equilibrium theory, continues to combine sound mathematical principles with economic applications. Concentrating on the probabilistic theory of continuous time arbitrage pricing of financial derivatives, including stochastic optimal control theory and optimal stopping theory, the book is designed for graduate students in economics and mathematics, and combines the necessary mathematical background with a solid economic focus. It includes a solved example for every new technique presented, contains numerous exercises, and suggests further reading in each chapter. All concepts and ideas are discussed, not only from a mathematics point of view, but the mathematical theory is also always supplemented with lots of intuitive economic arguments. In the substantially extended fourth edition Tomas Björk has added completely new chapters on incomplete markets, treating such topics as the Esscher transform, the minimal martingale measure, f-divergences, optimal investment theory for incomplete markets, and good deal bounds. There is also an entirely new part of the book presenting dynamic equilibrium theory. This includes several chapters on unit net supply endowments models, and the Cox–Ingersoll–Ross equilibrium factor model (including the CIR equilibrium interest rate model). Providing two full treatments of arbitrage theory—the classical delta hedging approach and the modern martingale approach—the book is written in such a way that these approaches can be studied independently of each other, thus providing the less mathematically oriented reader with a self-contained introduction to arbitrage theory and equilibrium theory, while at the same time allowing the more advanced student to see the full theory in action.

Equilibrium Theory: A Simple Production Model

2019 ◽  
pp. 451-457
Author(s):  
Tomas Björk
Keyword(s):  
Equilibrium Problem ◽  
Optimization Problem ◽  
Dynamic Equilibrium ◽  
Equilibrium Theory ◽  
Production Model ◽  
Stochastic Discount Factor ◽  
Equilibrium Concept ◽  
Precise Formulation ◽  
Central Planner ◽  
Simple Production

This is the first of several chapters dealing with the dynamic equilibrium theory. As an instructive first example we study a simple Cox–Ingersoll–Ross type of production model. The equilibrium concept is given a precise formulation and we derive the equilibrium short rate as well as the equilibrium stochastic discount factor. We also study the associated optimization problem for a central planner and prove that this is equivalent to the equilibrium problem.

scholarly journals Predicting long-term and short-term tidal flat morphodynamics using a dynamic equilibrium theory

2015 ◽  
Vol 120 (9) ◽  
pp. 1803-1823 ◽  
Author(s):  
Zhan Hu ◽  
Zheng Bing Wang ◽  
Tjerk J. Zitman ◽  
Marcel J. F. Stive ◽  
Tjeerd J. Bouma
Keyword(s):  
Tidal Flat ◽  
Dynamic Equilibrium ◽  
Equilibrium Theory ◽  
Short Term

Microtubule nucleation sequence studied by time-resolved x-ray scattering and electron microscopy

1983 ◽  
Vol 41 ◽  
pp. 766-767
Author(s):  
Eva-Maria Mandelkow ◽  
Eckhard Mandelkow ◽  
Joan Bordas
Keyword(s):  
Electron Microscopy ◽  
Dynamic Equilibrium ◽  
Time Resolved ◽  
X Ray ◽  
Additional Information ◽  
X Ray Scattering ◽  
Low Concentrations ◽  
Microtubule Growth ◽  
Ray Patterns ◽  
Ray Scattering

When a solution of microtubule protein is changed from non-polymerising to polymerising conditions (e.g. by temperature jump or mixing with GTP) there is a series of structural transitions preceding microtubule growth. These have been detected by time-resolved X-ray scattering using synchrotron radiation, and they may be classified into pre-nucleation and nucleation events. X-ray patterns are good indicators for the average behavior of the particles in solution, but they are difficult to interpret unless additional information on their structure is available. We therefore studied the assembly process by electron microscopy under conditions approaching those of the X-ray experiment. There are two difficulties in the EM approach: One is that the particles important for assembly are usually small and not very regular and therefore tend to be overlooked. Secondly EM specimens require low concentrations which favor disassembly of the particles one wants to observe since there is a dynamic equilibrium between polymers and subunits.

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