Yuri Yegorov

Yuri Yegorov
University of Vienna | UniWien · Fakultät für Wirtschaftswissenschaften

PhD Mathematical Physics, PhD Economics

About

147
Publications
162,998
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627
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Introduction
I have two educations: the 1st in mathematics and physics (with work in hydrodynamics and applied mathematics), and the 2nd in economics. My initial interests in economics were: migration theory, game theory and microeconomics. Later I became interested in urban and regional economics, and housing markets. Last years I was working more in the field of energy economics, still keep an interest to regional science and try to work in interdisciplinary fields, like econo-physics and nature-economics.
Additional affiliations
November 2006 - present
University of Vienna
Position
  • Researcher
January 2003 - November 2007
Institut für Höhere Studien
Position
  • Researcher
September 2002 - September 2002
Max Planck Institute for Demographic Research
Position
  • Visting Researcher

Publications

Publications (147)
Article
Full-text available
This article suggests some analytical approach to structures in economics and initiates the development of interdisciplinary approach. Even brief classification of socio-economic structures reveals the high complexity that is possible to tackle only using different methodologies from different sciences. The article suggests that physics, theory of...
Conference Paper
Full-text available
The present financial crisis that started in 2008 has a complex origin. It was born inside the globalized financial system but brings harm to all sectors of the global economy. The present paper tries to use knowledge from different fields of science in order to understand the origins of its emergence. The technical reason for crisis was in emergen...
Article
Full-text available
p>The paper is devoted to analytical investigation of the division of geographical space into urban and rural areas with application to Russia. Yegorov (2005, 2006, 2009) has suggested the role of population density on economics. A city has an attractive potential based on scale economies. The optimal city size depends on the balance between its at...
Article
Full-text available
This paper addresses the spatial evolution of countries accounting for economics, geography and (military) force. Economic activity is spatially distributed following the AK model with the output being split into consumption, investment, transport costs and military (for defense and expansion). The emperor controls the military force subject to the...
Preprint
Full-text available
This paper addresses a theoretical question of two alternative versions of self-organization in socio-economic sciences. While models based on two approaches exist in natural sciences, this issue was not investigated in socioeconomic theory previously. The first self-organizing force, resource-spatial, is well known in natural sciences. It was also...
Preprint
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This work is an attempt to build mathematical tools for generalized socioeconomic theory, which uses elements from different branches of economics, like neoclassical theory, regional science and Marxism. It uses asymptotical approach, where some exact models (branches) are derived from general concept under an assumption about small parameters.
Preprint
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This article intends to formalize and trace harmonic co-development of human civilization with the nature, taking into account natural heterogeneity of initial conditions on the Earth. It combines elements of ecology, anthropology and economic history and continues previous work of Yegorov in this direction. There were several bifurcations in the t...
Article
This paper describes the process of capital accumulation subject to the following characteristics: (i) convex returns to (human) capital and (ii) the need to self-finance investments. Our setup is applicable to some peculiarities in the arts, sports and science, inter alia, coined the Matthew effect in Merton (1968) and explains, e.g., why prominen...
Preprint
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The goal of this paper is to suggest self-organizing principles of civilizations based on land transportation. The advantage of sea transportation is well discussed in literature. There are two core principles: saving on transport cost and security. Steppe is such geographical area that allows for cheap transport by horses, because no roads are req...
Preprint
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Historical development shows that economy emerged as agricultural activity, dominated by self-consumption and little trade. Inequality in income and wealth distribution was growing over time. Luxury goods typically had low-value substitutes and were consume mostly by high-income people. The model with two goods, normal and luxury, is formally solve...
Chapter
Water is a crucial factor in agricultural production. Still being mostly a free factor of agricultural production, water nevertheless becomes increasingly scarce in many parts of the world. This scarcity cannot be easily tracked based on the current data on the value of global trade in food and agricultural products, because the latter is dominated...
Chapter
This paper models scientific productivity and reward, as well as the emergence and dynamics of new scientific fields. The crucial features are the individual reward that depends in addition on own abilities and the collective knowledge of a field. The overall knowledge about a field leads to increasing, at low levels (i.e., at the beginning) and at...
Preprint
Full-text available
This paper presents the role of information in economic activity from different perspectives, focusing on its role in production and consumption. With digitalization we have much higher volume of information accessible for different agents (firms and consumers). The growing fraction of this information is freely transmitted via public networks. But...
Preprint
Full-text available
The paper describes the process of capital accumulation subject to the following characteristics: (i) convex returns to (human) capital; (ii) the need to self-finance the investment. This setup is applicable to explain some peculiarities in arts, sports and science, inter alia, the "Matthew effect" coined in Merton (1968) to explain why prominent r...
Preprint
Full-text available
This paper models scientific productivity and reward, as well as the emergence and dynamics of a new scientific fields. The crucial features are the individual reward that depends in addition on own abilities and the collective knowledge of a field. The overall knowledge about a field leads to increasing, at low levels (i.e., at the beginning) and...
Preprint
Full-text available
This paper gives some mathematical and economic comments to the new and partly unknown process of the virus spread covid-19. First, it proposes mathematical model of virus spread which suggests the critical time and death toll. Then it is discussing different scenarios of economic actions and emerging incentives. While the overall process still has...
Conference Paper
Full-text available
Geographical distribution of the population in space is determined by an interplay between agglomeration and dispersion forces. The origins of those forces are both in nature and economics. This paper focuses on the role of natural components-water and energy. Despite the focus on particular natural resources, the focus of this paper is theoretical...
Preprint
Full-text available
The paper models spatial evolution of countries and accounts for economics, geography and military force. The economy is agricultural , without technological progress, and is modelled by spatially distributed AK model, where production is proportional to the land size. There are two types of costs: defense (with IRS) and transport (with DRS). A cou...
Preprint
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Bees is a good example of productive activity by insects which is in equilibrium with the nature. It has some complexity but is still a relatively simple system for an analytical modelling. The goal of this essay is to analyze this activity and to consider its economic interpretation based on different sub-fields of economics and social science. Fo...
Preprint
Full-text available
This paper addresses the spatial evolution of countries accounting for economics, geography and (military) force. Economic activity is spatially distributed following the AK model with the output being split into consumption, investment, transport costs and military (for defense and expansion). The emperor controls the military force subject to the...
Chapter
Arctic region is an important resource for hydrocarbons (oil and gas). Their exploitation is not immediate but will develop fast as soon as oil prices approach $100 per barrel again. In the Arctic, fish stock is an important renewable resource. Contrary to hydrocarbons, it is already overexploited. Future simultaneous exploitation of both resources...
Conference Paper
Full-text available
The paper models the dynamics of empires using spatio-temporal economic approach. The model focuses on the effects of economic geography in a highly stylized form. It uses spatially distributed macroeconomic AK model as the economic basis, with the split of output into consumption, investment and defense. Expenditures on defense create pressure on...
Preprint
Full-text available
Arctic region is an important future resource for both hydrocarbons (oil and gas) and fish. Arctic fish stock is an important renewable resource. Contrary to hydrocarbons, it is already overexploited. Future simultaneous exploitation of both resources poses several problems, including externalities (pollution from oil spills) and common pool. There...
Chapter
Energy security is a complex concept and it has many components. Natural gas is an important fuel not only today but also in coming decades. Supply security depends also on the development of internal infrastructure in a country or in a region. The gas conflict between Russia and Ukraine in 2009 has shown European vulnerability to temporary interru...
Working Paper
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Moving to sustainable energy supply in future requires higher penetration of wind energy with very uncertain and spatially heterogeneous supply. This requires balancing of wind with other energy sources. High wind penetration (above 20%) will make this problematic unless wind is partly balanced with itself. This will require regional integration b...
Conference Paper
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Current economic science evolves without substantial use of models of land in continuous space and thus is unable to tackle important problems. While the idea of continuous space was introduced by von Thunen (1826) and later elaborated in 1930s in the works of Hotelling, Losch and Christaller, many new economic models started to treat space discret...
Conference Paper
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This paper derives aggregate and average land rent for a city using two-dimensional model in continuous space and discusses their macroeconomic implications. This result has important theoretical and policy implications. Land rent of a city is a collective phenomenon when value is created not by production, but by relative location of people in spa...
Preprint
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There exist stylized facts about disproporional co-movement of prices for different unique objects in real estate and art as well as objects of collection (coins, wines, etc). Why values are so volatile and what are the origins of those volatilities? Imperfect information and uncertainty explains only one of the reasons, which is well studied in li...
Conference Paper
Why values are so volatile and what are the origins of those volatilities? Equilibrium theory in economics tells us the opposite to what we observe. Volatility also destroys the law of wealth preservation that would be very useful for accounting purposes. Imperfect information and uncertainty explains only one of the reasons, which is well studied...
Chapter
Iran’s nuclear power program is conceived as a dangerous addition to the already highly explosive situation in the Middle East. This paper proposes a game theoretic model between Iran (to side step the non-proliferation treaty) and the West (imposing sanctions). Our analysis suggests that it requires substantial benefits (a ‘carrot’) offered by the...
Chapter
The economics of art and science differs from other branches by the small role of material inputs and the large role of given talent and access to markets. E.g., an African violinist lacks the audience ( = market) to appreciate her talent unless it is so large that it transgresses regional constraints; conversely, a European violinist of equal tale...
Presentation
Full-text available
Exploitation of common pools of hydrocarbons creates externalities. Contrary to a standard story about fishing, we do not have full but only partial mobility of objects inside pool. That is why space matters. Diffusion decays with distance and relative location of wells matters for the dynamics of oil and gas exploitation. We present spatial models...
Article
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Regional LNG markets are characterized by substantial price differences since 2009. These regional differentials in prices suggest arbitrage possibilities which are incompatible with functioning markets; this creates a puzzle. This paper seeks to explain this puzzle by investigating potential explanations ranging from transport costs, bottlenecks i...
Conference Paper
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Russia is the country with the largest territory and thus possesses a very high share of both non-renewable and renewable natural resources. However, transition to market economy has boosted exploitation of only exhaustible resources, like oil, gas, metals. The role of agriculture and harvesting renewable resources was much higher before the dissol...
Conference Paper
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This paper is a survey of recent models with author’s participation. The common ground is that all of them deal with real phenomena that cannot be explained in the framework of classical economic theory. Typically violation of one of basic assumptions leads to a new branch of economic theory, like public economics, theory of trade, regional science...
Presentation
Full-text available
Natural resource scarcity (including land and water) is increasing. Practically all arable land is already used, and it is split between food production and biofuels. The complementary problems is related to deforestation and water scarcity. The oil supply is modeled with Hubbert-type curve that describes oil peak. Exponential growth of both popula...
Conference Paper
Full-text available
Sustainable use of natural resources becomes an important issue today not only due to global warming and pollution issues but also because of critical pressure on the Earths regeneration possibility. We cannot use classical microeconomic approach here for two reasons: a) impossibility to create natural resources, both exhaustible and renew- able, b...
Conference Paper
Full-text available
The role of population density for economic activity was neglected in most part of economic theory. This paper is a review and extension of the previous works of the author in this field. So far, densities did not become common economic variables in economic analysis, and two countries with different densities of population and infrastructure but...
Conference Paper
Full-text available
The issue of optimal management of an interaction between changing industrial demand for specialists, changing pattern of research schools and university teaching was rarely addressed in theoretical framework. Here we have three evolving heterogeneities: industrial demand for particular specialists, dynamics of research schools and dynamics of curr...
Conference Paper
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Just a few years ago, everybody was forecasting the expansion of natural gas consumption in EU and the necessity to increase gas imports due to decline in EU gas production. This strategy was justified by the necessity to fulfill EU objective 20-20-20 due to the fact that coal-gas substitution was a cheaper option to reduce CO2 emissions comparin...
Conference Paper
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EU dependency on imported natural gas is expected to increase and it is also worried about security in energy supply. Nowadays, Russia is the largest supplier of gas to EU, and due to Ukrainian transit games EU considers it as a threat. On one hand, EU strives to diversify its natural gas suppliers to overcome the security threats, while on the oth...
Conference Paper
Full-text available
This paper models dynamic interactions between talent, training and rewards in sports. The economics of sports differs from other markets by bias in reward structure. Very often "the winner takes it all", while efforts are produced by many. The paper starts from the discussion of a concept of talent as individual heterogeneity in abilities that can...
Conference Paper
Full-text available
This paper models dynamic interactions between talent and its market. The economics of art and science differs from other branches, by the small role of material inputs and the large role of market accessibility. E.g., an author requires access to (potential) readers as a complement to his productive capital. We study the problem of optimal inves...
Research
Full-text available
Unpublished manuscript, partly written during research visit of Yuri Yegorov to University of Barcelona in 2002. The goal of this article is to explain emergence of polycentric urban models. The particular focus of the paper is an explanation of peristence of polycentric urban structure in some particular regions, like Catalonia. Two models are d...
Article
Full-text available
Due to high transport cost share in the final price of natural gas, there is no unique world price for it. Cost saving on transportation creates monopoly in transit and allow for transit games. This makes geopolitical aspect natural for gas. The paper analyses recently growing role of geopolitics for natural gas markets in Europe.
Article
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The purpose of the paper is to develop a model revealing consumer preferences towards cities of different sizes, which can explain the emergence and optimality of polycentric urban structures in the modern economy. The paper provides microeconomic foundations for the existence of polycentric urban structures on the basis of consumer preferences....
Chapter
This paper investigates the prospects of renewable energy from an economic point of view and presents a few economic models that address specific issues. Although the transition to renewable energy is inevitable given the threats the world faces when avoiding that, the path is not so simple and is definitely cannot be driven by only market forces....
Article
Full-text available
The goal of this paper is to evaluate the perspectives of China to become less dependent on gas imports in future. This paper tries to forecast the future production of natural gas in China and demand for imports. The key problem is to what extent China can become the second country after the USA with shale gas revolution and whether it will be abl...
Conference Paper
Full-text available
Both the threat of global warming and peak oil drive the transition to renewable energies. While EU policy targets of 20-20-20 are correct and feasible, the transition brings high extra cost. One is related to very high subsidies on renewable energies instead of subsidizing R&D on their cost reduction. Another is dysfunction of natural gas plants i...
Conference Paper
Full-text available
What will come first – non-acceptable global warming or extinction of oil reserves? Both processes can bring substantial costs to the mankind, but their order has important economic implications. The answer to this question will either lower oil price in the long run or will lead to its further rise. It is very important for Russian economy. From t...
Conference Paper
Full-text available
The paper is devoted to analytical investigation of the division of geographical space into urban and rural areas with application to Russia. Yegorov (2005, 2006, 2009) has suggested the role of population density on economics. A city has an attractive potential based on scale economies. The optimal city size depends on the balance between its attr...
Conference Paper
Full-text available
The competition between agriculture and biofuels has important consequences for future security of supply of both food and energy. At this moment, practically all arable land is already used, and it has to be split between food production and substitutes of oil. While there exist alternative solutions for the future global energy scarcity, that are...
Conference Paper
Full-text available
The project DESERTEC, suggested by the Club of Rome in 2003, oriented in mass production of renewable energy in Northern Africa for further sales in EU via HVDC cables, passing through Italy and Spain, can not only integrate Mediterranean markets but also can solve the problem of transition to renewable energy. There will be also high economic grow...
Conference Paper
Full-text available
This paper addresses modeling of competition and decisions about investment in infrastructure in an uncertain environment coming both economics and geopolitics. Similar consideration of geopolitical games has been presented by Yegorov and Wirl (2010b), but for the case of natural gas. Geopolitical uncertainty suppresses investment in new infrastruc...
Article
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Democratic societies are built around the principle of free and fair elections, and that each citizen's vote should count equally. National elections can be regarded as large-scale social experiments, where people are grouped into usually large numbers of electoral districts and vote according to their preferences. The large number of samples impli...
Article
The US shale gas revolution has caused a substantial decline of US dependency on natural gas imports and has led to a significant decrease of spot prices for natural gas at Henry Hub. Given that the recent LNG development has been largely oriented towards the US market, this was the major reason for oversupply of natural gas, especially in LNG form...
Article
Full-text available
The dynamics of markets for natural gas during the last years included the higher role of LNG in gas trade, the growing role of spot markets, deregulation, liberalization and competition in national gas markets. Rising flexibility in contracts’ destination clauses created new international arbitrage opportunities. However, technical, contractual an...
Article
Full-text available
The dynamics of markets for natural gas during the last years included the higher role of LNG in gas trade, the growing role of spot markets, deregulation, liberalization and competition in national gas markets. Rising flexibility in contracts’ destination clauses created new international arbitrage opportunities. However, technical, contractual an...
Article
The EU imposed an embargo on Iranian oil on 23 January, 2012 that will come into full force in July, preventing the members from importing Iranian oil. The embargo was enforced by the UN, EU, USA and other countries in the wake of Western pressure policies. This multiplies sanctions imposed on Iran since 1979. Evidence so far suggests that the prev...
Article
Full-text available
The goal of this paper is to link models of urban formations (urban studies) with models of housing rent. While housing market models are essentially static, model of urban formation is presented in dynamic set up. The driving force for dynamics comes from migration theory and includes chain migration model. In economics and social studies, we ofte...
Conference Paper
Full-text available
Contrary to physics, in economics we do not observe exactly periodic processes with precise frequency. However, the fluctuations of economic activity can be also decomposed into a spectrum of waves with different frequency. The ideas of long waves in economics have been developed by Kondratieff and Kuznets. While normal business cycles do not excee...
Article
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What goods to export and where to sell them? Our research was pursuing these two major goals. The first one is related to detecting countries where Austria has good perspectives for boosting its export. The basic idea was to use macroeconomic data set detecting the significant variables. We found that besides the GDP of importer and distance, there...
Conference Paper
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1. Price dynamics: the impact of fundamentalists and chartists. The talk will concentrate on fundamental forces 2. Link between oil and gas prices. Attempts of economists to explain oil price dynamics (with reference to recent paper of F. Wirl). Is decomposition of oil and gas prices inevitable? 3. External shocks for gas price (crisis, shale gas i...
Article
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The goal of this article is to discuss the interaction between Russian demographic problems and its specialization on the extraction of natural resources. We have several simultaneous processes since 1990s: specialization in extraction of natural resources and demographic problem caused by low fertility in 1990s. Russia has no labor scarcity at pre...
Article
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The goal of this work is to suggest a mechanism explaining different spatial patterns of residential locations. The basic idea is counterbalance of centripetal and centrifugal forces. This paper complements the previous author's works in this area. This article addresses the following questions: a) agglomeration potential, b) optimal city size, c)...
Article
Energy is one an important class of traded commodities. The particular feature of energy is that about 85% of energies consumed are produced from non-renewable sources. While the structure of energy market is complex, in general we have competitive markets. Some exceptions like OPEC cartel in fact work now towards stabilization of market for oil, w...
Article
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Dieser Aufsatz beschäftigt sich mit der jüngsten Gaskrise, die durch den russischen Stopp der Erdgaseinspeisung in die durch die Ukraine nach Europa führenden Pipelines ausgelöst wurde. Das Ziel dieses Aufsatzes ist es, diese Situation durch Berücksichtigung auch russischer Quellen zu dokumentieren und vor allem Verlustsituation für die beteiligten...
Article
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Gas is an interesting example in which the market structure cannot be derived from pure economic aspects. Due to huge required investments, substantial transport costs and large heterogeneity in gas deposits and major consumption areas geography is very important. Politics also plays an important role as a restriction to the development of otherwis...
Article
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Methodology represents a combination of tools from different branches of economics and social sciences. This paper uses recent analyses of the natural gas markets to survey this crucial market and to emphasize the much neglected aspects of geography and politics. The consequences of geography and politics shaping the global natural gas networks are...
Article
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While population density represents an important socio-economic parameter, its role is rarely studied in the economic literature (contrary to natural sciences). Population density plays an important role in harvesting societies, i.e. those that depend on agriculture and natural resources. With the development of industry and services and emergence...
Conference Paper
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The spatial location of household and business represents a complex and evolving pattern that is driven by agglomeration and congestion forces. The origin of agglomeration forces is in scale economies, while congestion force is a cumulative negative externality. Since population and economy are growing, while technology is developing, the spatial s...
Conference Paper
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The innovations related to new directions of scientific research usually include relatively low return for labor investment in the beginning, when a new branch starts its activity. Thus even superior branches (which would generate higher returns to labor input when enough investment is done) may have a difficulty in their initial development due to...
Conference Paper
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This paper is devoted to modeling of growth of gas industry taking into account two possible technologies of gas delivery: via pipeline or LNG. It presents several model specifications that are analyzed using analytical and numerical methods.
Article
Russian gas exports play a crucial role in political discussions today. This paper argues that the European strive for energy diversification at present is economically inefficient, given the nearby resources and existing or committed transport network to Russia. Furthermore, this present diversification strategy will put Europe into competition wi...
Conference Paper
Full-text available
Energy issues in general and in particular with respect to security of supply of EU with gas and reduction of dependence on Russian gas play today a crucial role in political discussions in the press. This paper argues that the European strive for energy diversification puts it into serious dilemma, when more diversification today will mean more de...
Article
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The present article marks some potentially fruitful dimensions of economic research based on principles of economic theory but using more analogies with physics. Molecular structure of society with its different states, principles generating spontaneous order different from “invisible hand”, social analogies of the concepts of temperature and press...
Article
Full-text available
Dynamics of spatial infrastructure development is considered theo-retically. The main application are gas and forest industries. For these industries the price/weight ratio is low, and thus transport costy play an important role in total costs. This leads to a necessity of using spatial models, with explicit accounting for spatial structure of ei-t...
Article
We consider a new property of an optimal control problem called a lens. A lens is an interior point in the state-control phase plane where – given the value of the state variable – there is only one control value satisfying the necessary optimality conditions and – given the value of the control variable – there is only one state value satisfying t...
Conference Paper
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The present article considers theoretically the problem of interaction of long nonlinear tsunami waves with the river currents. In the case of simple topography of quasi-plane river flow the problem leads to an emergence of generalized Korteweg-de-Vries equation with additional term describing interaction. The asymptotic solution of Cauchy problem...
Article
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Eruption of volcanoes represents one of important origins of tsunami waves and is responsible for most catastrophic tsunami (Krakatau, 1883; Thira, BC). The products of volcano eruption include solids, liquids (lava) and gases. The present article presents hydrodynamic model of relatively slow process of eruption, with domination of liquids. The pr...
Chapter
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The paper addresses the recent dynamics of migration flows to Barcelona and its potential influence on the housing market in this city. There exist several reasons making such an analysis socially important. First of all, the migration flows to Spain and Barcelona area in particular show the tendency to accelerate in the last 5 years. With the stoc...
Article
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We live in a quite heterogeneous space. There are cities and rural areas, and population density varies a lot across space. People migrate and commute to the places of their work. The goal of this article is to clarify the mechanism of commuting as an equilibrium in heterogeneous space with different technologies. It is well known that agricultural...
Conference Paper
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