Results 11 to 20 of about 278,010 (203)
Stochastic effects in a discretized kinetic model of economic exchange [PDF]
Physica A: Statistical Mechanics and its Applications, 2017 Linear stochastic models and discretized kinetic theory are two complementary analytical techniques used for the investigation of complex systems of economic interactions. The former employ Langevin equations, with an emphasis on stock trade; the latter is based on systems of ordinary differential equations and is better suited for the description of ...
Bertotti, M.L. +2 more
openaire +3 more sources
Incorporation of sticky information and product diversification into static game of open innovation
International Journal of Innovation Studies, 2022 Platform economics has promoted open innovation through sufficient channels to reveal and exchange knowledge with experts or valued customers. However, innovation also suffers from information stickiness and product diversification risks.
Xiaoguang Zhu
doaj +1 more source
Uncertainty and economic growth in a stochastic R&D model [PDF]
Economic Modelling, 2008 The paper examines an R&D model with uncertainty from the population growth, which is a stochastic cooperative Lotka-Volterra system, and obtains a suciently condition for the existence of the globally positive solution. The long-run growth rate of the economic system is ultimately bounded in mean and fluctuation of its growth will not be faster than ...
Wu, Fuke, Mao, Xuerong, Yin, Juliang
openaire +2 more sources
Modelling Marital Reverse Annuity Contract in a Stochastic Economic Environment
Statistika: Statistics and Economy Journal, 2022 In the paper, we present the methodology of calculating the benefit of a marriage reverse annuity using the multiple state model for marriage life insurance. We model the probabilistic structure and cash flows arising from marriage reverse annuity contracts in the case of the joint-life status and the last surviving status assuming that the spouses ...
Joanna Dębicka +2 more
openaire +2 more sources
Multi-Agent-Based Macroeconomic Modelling
Theory, Methodology, Practice, 2019 Macroeconomic modelling emerged at the end of the 20th century and by the first decade of the 21st century it had been widely accepted. However, the financial crisis of 2007 followed by the real economy crisis exposed the weaknesses of dynamic stochastic
Sándor Karajz
doaj +2 more sources
The Structure of Models: Understanding Theory Reduction and Testing with a Production Example
Journal of Agricultural and Resource Economics, 2004 The language of economics is the language of models. Understanding the structure of this language offers many benefits. Unfortunately, the structure is ubiquitous in implementation but absent in documentation. This paper documents the structure of models
George C. Davis
doaj +1 more source
Stochastic trends and seasonality in economic time series: new evidence from Bayesian stochastic model specification search [PDF]
Empirical Economics, 2014 An important issue in modelling economic time series is whether key unobserved components representing trends, seasonality and calendar components, are deterministic or evolutive. We address it by applying a recently proposed Bayesian variable selection methodology to an encompassing linear mixed model that features, along with deterministic effects ...
Proietti, Tommaso, Grassi, Stefano
openaire +2 more sources
Is Economics an Empirical Science? If not, can it become one?
Frontiers in Applied Mathematics and Statistics, 2015 Today’s mainstream economics, embodied in Dynamic Stochastic General Equilibrium (DSGE) models, cannot be considered an empirical science in the modern sense of the term: it is not based on empirical data, is not descriptive of the real-world economy ...
Sergio Mario Focardi +1 more
doaj +1 more source
Control Theory and Economic Policy Optimization: The Origin, Achievements and the Fading Optimism from a Historical Standpoint [PDF]
International Journal of Business and Development Studies, 2015 Economists were interested in economic stabilization policies as early as the 1930’s but the formal applications of stability theory from the classical control theory to economic analysis appeared in the early 1950’s when a number of control engineers ...
Masoud Derakhshan
doaj +1 more source
Recurrence and Eigenfunction Methods for Non-Trivial Models of Discrete Binary Choice
Entropy, 2023 Understanding how systems relax to equilibrium is a core theme of statistical physics, especially in economics, where systems are known to be subject to extrinsic noise not included in simple agent-based models.
James Holehouse
doaj +1 more source