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econ.TH2025
The invisible hand as an emergent property: a gradient flow approach
Giorgio Fabbri, Davide Fiaschi, Cristiano Ricci
We develop a general equilibrium model in which, at each instant, a short-run competitive equilibrium arises. Heterogeneity in factor allocation generates differential profit rates…
econ.TH2023
The spatial evolution of economic activities and the emergence of cities
Davide Fiaschi, Cristiano Ricci
This paper examines the spatial agglomeration of workers and income in a continuous space-time framework. Local markets feature spatial spillovers and both exogenous and endogenous…