Pure Exchange Research Articles

Low and moderate x gluon contribution to exclusive Compton scattering processes

Abstract We revisit the high energy semi-classical description of the exclusive processes DVCS, TCS, and Double DVCS by explicitly keeping track of the Feynman x dependence in both the hard and the hadronic matrix elements. This is achieved by a modification of the standard shock wave approximation to derive the effective Feynman rules, which leads to a generic expression on which we then perform a partial twist expansion to get rid of quantities suppressed by the proper physical scales. We obtain a compact factorized master formula that can be used to investigate the Bjorken limit at leading twist. In particular, we recover the full one-loop result in the collinear limit for pure gluon exchange with the target. Finally, we discuss the subtleties in taking the simultaneous collinear and small x limit.

Decentralized pure exchange processes on networks

AbstractWe define a class of pure exchange Edgeworth trading processes that under minimal assumptions converge to a stable set in the space of allocations, and characterise the Pareto set of these processes. Choosing a specific process belonging to this class, that we define fair trading, we analyse the trade dynamics between agents located on a weighted network. We determine the conditions under which there always exists a one-to-one map between the set of networks and the set of limit points of the dynamics, and derive an analog of the Second Welfare Theorem for networks. This result is used to explore what is the effect of the network topology on the trade dynamics and on the final allocation.

Photon-odderon interference in exclusive χc charmonium production at the Electron-Ion Collider

Exclusive C=+1 scalar, axial-vector, and tensor quarkonium production in high-energy electron-proton scattering requires a C-odd t-channel exchange of a photon or a three-gluon ladder. We derive the expressions for the corresponding amplitudes. The relative phase of the photon vs three-gluon exchange amplitudes is determined by the sign of the light-front matrix element of the eikonal color current operator dabcJ+aJ+bJ+c at moderate x, and is not affected by small-x QCD evolution. Model calculations predict constructive interference, which is particularly strong for momentum transfer |t|∼1 GeV2 where the cross section for χcJ production exceeds that for pure photon exchange by up to a factor of 4. Exclusive χcJ electroproduction at the high luminosity Electron-Ion Collider occurs with well measurable rates and measurements of these processes should find evidence for the perturbative odderon exchange. We also compute the total electroproduction cross section as a function of energy and provide first estimates of the number of χcJ events per month at the Electron-Ion Collider design luminosity. Published by the American Physical Society 2024

Local existence and uniqueness of solutions to the time-dependent Kohn–Sham equations coupled with classical nuclear dynamics

We prove the short-time existence and uniqueness of solutions to the initial-value problem associated with a class of time-dependent Kohn–Sham equations coupled with Newtonian nuclear dynamics, combining Yajima's theory for time-dependent Hamiltonians with Duhamel's principle, based on suitable Lipschitz estimates. We consider a pure power exchange term within a generalisation of the so-called local-density approximation, identifying a range of exponents for the existence and uniqueness of H2 solutions to the Kohn–Sham equations.

Efficient drainage design of cathode catalyst layer for pure oxygen proton exchange membrane fuel cells

Efficient drainage design of cathode catalyst layer for pure oxygen proton exchange membrane fuel cells

Sequential trading with coarse contingencies

We consider a dynamic pure exchange economy in which agents have a coarse perception of the future, and awareness emerges gradually over time. We make the key assumption that awareness of a shock to agents' endowments emerges before the shock hits, so agents can adapt by purchasing (or selling) insurance. We provide an irrelevance theorem showing that, under suitable conditions, unawareness matters if and only if it concerns aggregate shocks. In particular, if the unforeseen endowment shocks are purely idiosyncratic, there is no loss of efficiency with respect to the economy with perfect foresight. Building on this result, we show three key implications of unforeseen aggregate shocks: the possibility of non-comonotonic consumption allocations, a systematic bias in asset prices that gives rise to opportunities for intertemporal arbitrage, and the potential of unexpected default due to the agents' inability to repay (roll over) prior debt.

Endowments, patience types, and uniqueness in two-good HARA utility economies

This paper establishes a link between endowments, patience types, and the parameters of the HARA Bernoulli utility function that ensure equilibrium uniqueness in an economy with two goods and two impatience types with additive separable preferences. We provide sufficient conditions that guarantee uniqueness of equilibrium for any possible value of γ\\documentclass[12pt]{minimal} \\usepackage{amsmath} \\usepackage{wasysym} \\usepackage{amsfonts} \\usepackage{amssymb} \\usepackage{amsbsy} \\usepackage{mathrsfs} \\usepackage{upgreek} \\setlength{\\oddsidemargin}{-69pt} \\begin{document}$$\\gamma $$\\end{document} in the HARA utility function γ1-γb+aγx1-γ\\documentclass[12pt]{minimal} \\usepackage{amsmath} \\usepackage{wasysym} \\usepackage{amsfonts} \\usepackage{amssymb} \\usepackage{amsbsy} \\usepackage{mathrsfs} \\usepackage{upgreek} \\setlength{\\oddsidemargin}{-69pt} \\begin{document}$$\\frac{\\gamma }{1-\\gamma }\\left( b+\\frac{a}{\\gamma }x\\right) ^{1-\\gamma }$$\\end{document}. The analysis contributes to the literature on uniqueness in pure exchange economies with two-goods and two agent types and extends the result in Loi and Matta (2022).

Simulating the charging mechanism of a realistic nanoporous carbon-based supercapacitor using a fully polarizable model

Nanoporous carbon-based supercapacitors are established energy storage devices, that complement Li-ion batteries in high-power applications. So far, the study of these systems through simulations required drastic simplification of the electrolyte and/or of the electrode. In this work, we use state-of-the-art constant potential classical molecular dynamics simulations, where both the electrode and the electrolyte are polarizable, to study complex carbide-derived carbons with 1-ethyl-3-methylimidazolium bis(trifluoromethane)sulfonyl imide ionic liquid electrolyte. We show that using this set-up allows to obtain integral capacitances (i.e. the main property to characterize supercapacitors) in quantitative agreement with experiments. The simulations, performed in a range of applied potentials of 1V to 4V, then provide microscopic details on the charging mechanism, revealing that it is not symmetrical between the positive and negative electrodes. A pure exchange of ions is observed on the positive electrode, while an ion exchange combined with cation adsorption takes place on the negative one. Our work shows that accounting for the coupling of electrode and electrolyte polarization improves the accuracy of the results, opening the way toward a more quantitative comparison with experiments.

A smoking gun from the power spectrum dipole for elastic interactions in the dark sector

Models with pure momentum exchange in the dark sector have been shown to provide a promising scenario to tackle the tension in the clustering inferred from high- and low-redshift probes. A distinctive feature of these models is that only the Euler equation for the dark matter component is modified and the correction is such that the net effect can be associated to an additional friction determined by the interaction rate. In this work, we show that the strength of the interaction parameter needed to resolve the σ 8 tension could be detected from the dipole of the matter power spectrum that is expected to be measured by a SKA-like survey.

Indonesia's Trade Policy Strategy through the Rail Industry for the Train Market in Africa

The Indonesian Railway Industry (INKA) has increased its export production, especially to other developing countries such as Bangladesh, the Philippines, and others. Since 2018, Indonesia has explored the railway industry market in Africa. However, several challenges such as market competition with China and Europe, the distance between Indonesia and Africa, as well as the purchasing power of the African region with the majority of developing and less developed countries are important notes for Indonesia's strategy. This research will discuss the opportunities, challenges, and strategies of INKA in exporting trains in the African region. The analysis of this research uses international trade politics through the Pure Exchange Model of Trade and Strategic Trade Policy. The Pure Exchange Model of Trade is used to explain INKA's position in international trade to understand INKA's opportunities and challenges in Africa. Meanwhile, Strategic Trade Policy is used to describe Indonesia's strategy in advancing the Indonesian Railway Industry in Africa. The results of the study show that Indonesia provides support through a series of policies such as subsidies and diplomacy to obtain projects in Africa. In the process, INKA experienced challenges such as intense competition. However, many opportunities are presented by INKA in terms of the quality factor and the government's persuasive ability.

Spectral Fingerprint of Quantum Confinement in Single CsPbBr3 Nanocrystals.

Lead halide perovskite nanocrystals are promising materials for classical and quantum light emission. To understand these outstanding properties, a thorough analysis of the band-edge exciton emission is needed, which is not reachable in ensemble and room-temperature studies because of broadening effects. Here, we report on a cryogenic-temperature study of the photoluminescence of single CsPbBr3 nanocrystals in the intermediate quantum confinement regime. We reveal the size-dependence of the spectral features observed: the bright triplet exciton energy splittings, the trion and biexciton binding energies, and the optical phonon replica spectrum. In addition, we show that bright triplet energy splittings are consistent with a pure exchange model and that the variety of polarization properties and spectra recorded can be rationalized simply by considering the orientation of the emitting dipoles and the populations of the emitting states.

General Equilibrium in a Heterogeneous-Agent Incomplete-Market Economy with Many Consumption Goods and a Risk-Free Bond

General equilibrium models have been extensively studied in economics, with seminal works by Arrow, Debreu, McKenzie, Gale, and Nikaido providing a proof for the existence of general equilibrium in a pure exchange economy. However, while the recently popular dynamic incomplete-markets models have attracted attention, the existence results for these models have remained limited. In “General equilibrium in a heterogeneous-agent incomplete-market economy with many consumption goods and a risk-free bond,” Light extends some general equilibrium results to a dynamic incomplete-market economy with many consumption goods and a risk-free bond. Under mild conditions, using a well-known excess demand approach, the article establishes the existence of general equilibrium, showing that the methods used to prove existence in the static pure exchange economy can be used in the much more complicated dynamic incomplete-market setting. The article also establishes uniqueness and comparative statics results for the special case where the agents’ preferences can be represented by a constant elasticity of substitution utility function with an elasticity of substitution greater than or equal to one.

Existence of an equilibrium in arrowian markets for consumption externalities

We study the existence of quasi-equilibria and equilibria for pure exchange economies with consumption externalities and Arrowian markets with personalized Lindahl prices. We provide examples showing first that quasi-equilibria and equilibria of the externality economy fail to exist under assumptions guaranteeing existence for economies without externalities. We show that the externality economy has identical equilibrium allocations of an appropriately defined constant returns to scale production economy without externalities. We exploit this equivalence to map sufficient conditions for the existence of quasi-equilibria and equilibria of the production economy into sufficient conditions of the pure exchange economy with externalities, thereby unveiling suitable irreducibility conditions and survival conditions.

Sufficient conditions for a “simple” decentralization with consumption externalities

We consider a pure exchange economy with consumption externalities in preferences. We use the notion of competitive equilibrium à la Nash. We provide the Social Redistribution assumption to restore the Second Welfare Theorem. We then introduce the differentiable characterizations of Social and Strong Redistribution. We show that all these conditions are weaker than other relevant assumptions studied in the literature. Our conditions entail interesting results on the decentralized implementation of Pareto optima, that link together the competitive supporting price and the shadow price of the utilitarian social planner. Finally, we provide a specific condition for Bergson-Samuelson utility functions, which has a nice interpretation in terms of positive or negative externalities.

A Study on the Relationship Between Perceived Organizational Support and Organizational Commitment Among Managerial Staff in Private Banks in Cochin

Abstract: The existence of organizations without human resource is, undoubtedly, next to impossible. The very character and integrity of organizations, its drive towards achieving its goals in an efficient and effective manner as well as its continued existence, depends entirely on the people that encompass it. Retaining talented human resource is the key to continued and sustainable development. This clearly points out the importance of commitment from the part of the employees as well as the employer. The concept of Perceived Organizational Support (POS), thus, plays a very vital role. According to social exchange theory, “the exchange relationship between two parties often goes beyond pure economic exchange and entails social exchange”. Likewise, Eisenberger et.al. (2001) argues that, “employer and employee exchange not only impersonal resources such as money, services, and information, but also socio - emotional resources like approval, respect, and support”. The theory of POS refers to ‘employees’ perceptions about the degree to which the organization cares about their well-being and values their contribution, to describe the social exchange relationship between the organization and its employees’ (Eisenberger et.al., 1986).

Interacting dark energy from the joint analysis of the power spectrum and bispectrum multipoles with the EFTofLSS

ABSTRACT Interacting dark energy models have been suggested as alternatives to the standard cosmological model, ΛCDM. We focus on a phenomenologically interesting class of dark scattering models that is characterized by pure momentum exchange between dark energy and dark matter. This model extends the parameter space with respect to ΛCDM by two parameters, w and A, which define the dark energy equation of state and the strength of the coupling between dark energy and dark matter, respectively. In order to test non-standard cosmologies with Stage-IV galaxy clustering surveys, it is crucial to model mildly non-linear scales and perform precision versus accuracy tests. We use the Effective Field Theory of Large-Scale Structure; and we perform validation tests by means of an MCMC analysis using a large set of N-body simulations. We find that adding the bispectrum monopole to the power spectrum multipoles improves the constraints on the dark energy parameters by $\sim 30 {{\ \rm per\ cent}}$ for $k_{\mathrm{max}, B}^{l=0} = 0.11$ h Mpc−1, without introducing biases in the parameter estimation. We also find that the same improvement can be achieved with more moderate scale cuts and the use of bias relations, or with the addition of the bispectrum quadrupole. Finally, we study degeneracies between the dark energy parameters and the scalar amplitude As and discuss the corresponding projection effects, as well as degeneracies with other cosmological parameters.

Two characterizations of cost share equilibria

We consider pure exchange economies with a finite number of private goods and the choice of non-Samuelsonian public goods. For this type of economies, [5] proposed the notion of cost share equilibrium with individual payments for public goods varying according to individual benefits. This situation arises naturally when a level of provision is interpreted as a whole configuration of public policies or when cost share functions are interpreted as voluntary contributions rather than predetermined tax systems (see [31]). We establish the equivalence of cost share equilibria with cooperative and non-cooperative game-theoretic solutions: 1. we characterize cost share equilibria as those allocations which cannot be improved upon by society; 2. we characterize cost share equilibria as the Nash equilibria of a game with two players. The cooperative solutions analyzed in the paper are defined via a contribution scheme which captures the fraction of the total cost of collective goods that each coalition of agents is expected to cover.

Filling the gap and moving forward: a review of analytical and empirical studies of disclosure and cost of capital

PurposeThe author in this paper identifies the gap between analytical and empirical studies regarding the relation between disclosure and cost of capital. Distinct from prior reviews, this paper focuses on the various assumptions of theoretical models and the insights and key results derived from those assumptions. The author also reviews how these theoretical papers are “applied” in empirical studies.Design/methodology/approachThe author systematically analyzes both theoretical and empirical papers that investigate disclosure and cost of capital between 2000 and 2020.FindingsThe author shows (1) that there is ample room for theorists to move from the pure exchange economy to the production-based economy setting to investigate the real effect of disclosure on the cost of capital; (2) structural estimation, although still nascent, is a promising direction to build the bridge between analytical and empirical studies in disclosure and cost of capital, and (3) besides ordinary least squares (OLS) regressions, researchers are encouraged to think outside the box regarding how to investigate the interplay between disclosure and cost of capital via a Deep Neural Network design.Originality/valueThe author provides a unique perspective and synthesized knowledge in the relations of disclosure and cost of capital.

Home Bias: How Has It Affected the Border Effects of China’s Trade?

ABSTRACT This study aimed to analyze the impact of home bias on China’s trade border effects by constructing a pure exchange computable general equilibrium model. The results indicate that the border effects of external import, export, and trade in China are 6.96 times, 4.62 times, and 5.60 times their respective counterparts in interregional trade. On elimination of national bias, the border effects of China’s external import, export, and trade fell by 96.37%, 93.71%, and 95.18%, respectively, while border effects of China’s interregional trade became 8.06%. By eliminating regional bias, the border effects of China’s external imports, exports, and trade decreased by 3.63%, 6.29%, and 4.82%, respectively.

Truthfulness of a Network Resource-Sharing Protocol

We consider a sharing economy over a network in which each vertex agent allocates resources to its neighbors in response to their contributions. General equilibrium theory can be applied here to solve the problem of deciding how to fairly and efficiently allocate resources among agents as resource sharing over the network can be modeled as a pure exchange economy. It is known that proportional sharing dynamics converges to a market equilibrium solution. We are particularly interested in proportional sharing dynamics as a mechanism for network resource sharing. Our focus is on the key issue in internet market design: whether an agent may manipulate its report of its own private information to gain more resources under this mechanism. This work establishes the first mathematical proof that such a practical distributed network resource-sharing protocol is truthful against the manipulative strategies of feasible weight misreporting and edge deletion applied both individually and together. Funding: This work was supported by the National Nature Science Foundation of China [Grants 11871366, 62172012]; Beijing Outstanding Young Scientist Program [Grant BJJWZYJH012019100020098]; the Fundamental Research Funds for the Central Universities; the Research Funds of Renmin University of China [Grant 297522503709]; and the Intelligent Social Governance Platform, Major Innovation & Planning Interdisciplinary Platform for the “Double-First Class” Initiative, Renmin University of China.