arXiv subjects

Pascal Stiefenhofer

Publications and source records attributed to Pascal Stiefenhofer.

8 recordsLinked to original sources

arXiv2026

A Neurofinance Framework for Subjective Temporal Perception, Risk, and Investment Behavior

Neurofinance shows that financial valuation depends on evolving neural states, while temporal experience is itself state dependent. Yet intertemporal models typically treat time as exogenous and ask how delay affects valuation. This paper examines the converse question: can valuation-related neural dynamics generate subjective financial time? We develop a continuous-time model on a joint financial--neuro-evaluative state space in which subjective financial time is accumulated valuation along dynamically admissible histories. We characterise realised temporal-rate dispersion and show that, under matched financial dynamics, distinct neuro-evaluative trajectories can generate different subjective financial times. Financial equivalence therefore need not imply temporal equivalence. Valuation curvature further determines local path dependence. A proof-of-concept behavioural--fMRI analysis uses $1{,}183$ observations, $1{,}126$ valuation transitions, and $798$ financially matched pairs. Using a medial-prefrontal valuation-state coordinate based on vmPFC and dmPFC responses, the strongest participant exhibits a positive association between neural-state separation and subsequent valuation divergence ($\rho=0.253,\ p_{\mathrm{perm}}=0.001$), robust to residual financial distance ($\rho=0.251$) and tighter matching ($\rho=0.207$). Participant effects are heterogeneous, although combined evidence gives $p=0.0216$. The data support the neural state-separation premise rather than directly identifying subjective financial time. The framework establishes a theoretical and empirically grounded basis for endogenous subjective time in neurofinance. \keywords{Neurofinance $\cdot$ Subjective financial time $\cdot$ Neural valuation $\cdot$ Relative subjective value $\cdot$ Intertemporal choice $\cdot$ Temporal dispersion $\cdot$ Path dependence

econ.GN↗

arXiv2026

Constructal Evolution as a Nonsmooth Dynamical System: Stability and Selection of Flow Architectures

Constructal Law states that a finite-size flow system that persists in time evolves its configuration so as to provide progressively easier access to the currents that flow through it. Classical Constructal theory derives hierarchical flow architectures from static resistance minimization under finite-size constraints, but many transport systems operate under irreversible limits that induce regime switching and discontinuous adjustment laws. We formulate Constructal evolution as an autonomous nonsmooth dynamical system. The architectural configuration is modeled as the state of a Filippov differential inclusion defined on a compact forward-invariant admissible set. Irreversible transport constraints generate switching manifolds across which the adjustment field is discontinuous. A resistance dissipation inequality encodes the Constructal principle of progressively improving access as a nonsmooth Lyapunov condition, while a uniform contraction assumption provides spectral bounds on the generalized Jacobians of the regime-dependent dynamics. Under these conditions we prove that the resulting inclusion admits a unique equilibrium architecture and that every admissible trajectory converges to it exponentially. Finite size, irreversibility, and resistance dissipation therefore imply existence, uniqueness, and global stability of persistent flow configurations without invoking static optimization. As an application, the classical area--to--point transport hierarchy of Bejan et. al. is embedded in the dynamical framework. The optimal assembly ratios appear as switching manifolds, while the classical scaling relations arise as sliding invariant sets of the Filippov inclusion. Their intersection defines the uniquely selected globally attracting architecture.

math.DS↗

arXiv2025

A Spectral Contraction Framework for Periodic Solutions in Nonsmooth Dynamical Systems

We develop a contraction-based framework to establish the existence and exponential stability of periodic solutions in planar nonsmooth dynamical systems governed by Filippov differential inclusions. The method integrates a time- and state-dependent weighted metric with Clarke's generalized Jacobian and a uniform jump condition across switching manifolds to guarantee global exponential contraction on compact, forward-invariant sets. This work generalizes classical contraction results from smooth one-dimensional systems to two-dimensional systems with discontinuities and sliding behavior. A fixed-point argument ensures the existence and uniqueness of an attracting periodic orbit. The framework offers a robust analytic tool for stability analysis in piecewise-smooth systems, with applications in hybrid control, nonsmooth mechanics, and computational dynamics.

math.DS↗

arXiv2025

The role of ethical consumption in promoting democratic sustainability: revisiting neoclassical economics through Kantian ethics

This paper explores how ethical consumption can transform democratic governance toward sustainability by challenging traditional economic models centered on utility and efficiency. As societal values shift toward transparency equity and environmental responsibility ethical consumers increasingly influence markets. Drawing on Whites Kantian economic framework and Ingleharts theory of value change the paper proposes a model integrating moral imperatives into economic theory. Using a vector bundle approach it captures evolving ethical preferences advocating for an inclusive sustainability focused economic paradigm aligned with post materialist values.

econ.GN↗

arXiv2025

My Boss is a Narcissist Bully: A Game Theoretic Approach to Stop Bullies

This paper investigates effective strategies for dealing with workplace bullying perpetrated by a narcissistic boss. Adopting a game-theoretic framework, we propose a three-stage sequential game with a simultaneous form game, incorporating a war of attrition in the final stage. Our findings demonstrate that victims of bullying should consistently choose to signal to escalate the situation and report bulling rather than ignore and tolerate the abusive behavior. Additionally, we explore how leveraging the narcissist's inherent fears can empower the victim in selecting the most advantageous equilibrium solution. By employing this comprehensive approach, individuals facing a narcissistic boss bullying can effectively address and mitigate these challenging circumstances.

econ.TH↗

arXiv2025

Techno-Feudalism and the Rise of AGI: A Future Without Economic Rights?

The rise of Artificial General Intelligence (AGI) marks an existential rupture in economic and political order, dissolving the historic boundaries between labor and capital. Unlike past technological advancements, AGI is both a worker and an owner, producing economic value while concentrating power in those who control its infrastructure. Left unchecked, this shift risks exacerbating inequality, eroding democratic agency, and entrenching techno-feudalism. The classical Social Contract-rooted in human labor as the foundation of economic participation-must be renegotiated to prevent mass disenfranchisement. This paper calls for a redefined economic framework that ensures AGI-driven prosperity is equitably distributed through mechanisms such as universal AI dividends, progressive taxation, and decentralized governance. The time for intervention is now-before intelligence itself becomes the most exclusive form of capital.

econ.GN↗

arXiv2025

The Future of Work and Capital: Analyzing AGI in a CES Production Model

The integration of Artificial General Intelligence (AGI) into economic production represents a transformative shift with profound implications for labor markets, income distribution, and technological growth. This study extends the Constant Elasticity of Substitution (CES) production function to incorporate AGI-driven labor and capital alongside traditional inputs, providing a comprehensive framework for analyzing AGI's economic impact. Four key models emerge from this framework. First, we examine the substitution and complementarity between AGI labor and human labor, identifying conditions under which AGI augments or displaces human workers. Second, we analyze how AGI capital accumulation influences wage structures and income distribution, highlighting potential disruptions to labor-based earnings. Third, we explore long-run equilibrium dynamics, demonstrating how an economy dominated by AGI capital may lead to the collapse of human wages and necessitate redistributive mechanisms. Finally, we assess the impact of AGI on total factor productivity, showing that technological growth depends on whether AGI serves as a complement to or a substitute for human labor. Our findings underscore the urgent need for policy interventions to ensure economic stability and equitable wealth distribution in an AGI-driven economy. Without appropriate regulatory measures, rising inequality and weakened aggregate demand could lead to economic stagnation despite technological advancements. Moreover this research suggests a renegoation of the Social Contract.

econ.GN↗

arXiv2025

Artificial General Intelligence and the End of Human Employment: The Need to Renegotiate the Social Contract

The emergence of Artificial General Intelligence (AGI) labor, including AI agents and autonomous systems operating at near-zero marginal cost, reduces the marginal productivity of human labor, ultimately pushing wages toward zero. As AGI labor and capital replace human workers, economic power shifts to capital owners, resulting in extreme wealth concentration, rising inequality, and reduced social mobility. The collapse of human wages causes aggregate demand to deteriorate, creating a paradox where firms produce more using AGI, yet fewer consumers can afford to buy goods. To prevent economic and social instability, new economic structures must emerge, such as Universal Basic Income (UBI), which redistributes AGI-generated wealth, public or cooperative AGI ownership, ensuring broader access to AI-driven profits, and progressive AGI capital taxation, which mitigates inequality and sustains aggregate demand. Addressing these challenges in form of renegotiation the Social Contract is crucial to maintaining economic stability in a post-labor economy.

econ.GN↗