Author: LML administrator
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Microfoundations of Discounting
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Economists routinely model how people choose between different options. For example, a common issue is time delay: would you choose to receive £100 today, or prefer £200 next month?
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Generalized dimensions, large deviations and the distribution of rare events
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Any fractal set possesses a unique dimension, which characterises its self-similar behaviour under a change of scale. The attractors of many dynamical systems are more complex multifractals, which possess a spectrum of dimensions, or “generalized” dimensions.
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Dynamical characterization of stochastic bifurcations in a random logistic map
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The interaction of noise and non-linearity can cause sharp dynamical transitions, as appear in phenomena such as stochastic resonance or noise-induced synchronization or chaos.
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First passage and first hitting times of Lévy flights and Lévy walks
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In many areas of science and applied mathematics, important events often get initiated when a stochastic variable crosses a threshold value. Financial assets may be sold at a particular price, or a chemical reaction initiated when two particles come close enough.
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Recurrence Spectra of European Temperature in Historical Climate Simulations
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Climate events linked to extremes of temperature (heatwaves/cold spells) have severe impacts on human health and natural ecosystems. Over the past few decades, the frequency and intensity of heatwaves have increased in Europe.
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The aromatic universe, new hope for public transport, and why we’re still years away from practical fusion energy
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Here are links to a few recent articles by LML External Fellow Mark Buchanan.
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Seismological investigations of induced earthquakes near the Hutubi underground gas storage facility
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Earth scientists have long known that fluid injected into the Earth’s crust can induce earthquakes. In principle, seismic activity may also be triggered through gas extraction through the mechanism of poroelastic stress perturbation, although such events have been observed less frequently.
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Minimal dynamical systems model of the Northern Hemisphere jet stream via embedding of climate data
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Jet streams are narrow, fast-flowing westerly air currents located near the tropopause, the tropospheric boundary with the higher stratosphere. These jets play a major role in driving the large-scale atmospheric circulation and modulate the frequency, severity and persistence of weather events at […]
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Spectral theory for the stability of dynamical systems on large oriented locally tree-like graphs
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The linear stability of large complex systems around their stationary points can be studied with random matrix theory. In one common model, the i.i.d. random matrix model, one assumes a simple statistical form for the interactions between distinct elements of a network.
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New experiments back Ergodicity Economics over Expected Utility Theory in modeling human decision making
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Economists thinking about anything from housing policy to climate change need to model how people make decisions, especially when facing uncertainty and risk.