How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a ...

Discover how equilibrium quantity balances supply and demand, stabilizing prices in the market—essential knowledge for anyone interested in economic principles.

We have used a systems biology approach to address the hitherto insoluble problem of the quantitative analysis of non-equilibrium binding of aqueous metal ions by competitive ligands in heterogeneous ...

Diversity and Distributions, Vol. 19, No. 9/10 (September & October 2013), pp. 1333-1338 (6 pages) Models based on species distributions are widely used and serve important purposes in ecology, ...

Abstract: The study of vehicles traveling at hypersonic speeds is extremely complex and involves many non-equilibrium physical phenomena occurring on broad time and length scales. For gas flow around a ...

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

A computer simulation, or model, of a chiller plant must, by the author’s definition, duplicate the performance of the real plant within 1%-3% to qualify as a tool to design and evaluate the plant at ...

CONSIDER THE task economists have set themselves. The global economy is the outcome of near-constant interaction between billions of unique individuals. To attempt to model even a small corner with a ...

A new study has uncovered the universal dynamics far from equilibrium in randomly interacting spin models, thereby complementing the well-established universality in low-energy equilibrium physics.