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Stochastic bio—economic modeling of mastitis in Ethiopian dairy farms
Preventive Veterinary Medicine, 2017Mastitis is an inflammation of the mammary gland that is considered to be one of the most frequent and costly diseases in the dairy industry. Also in Ethiopia, bovine mastitis is one of the most frequently encountered diseases of dairy cows. However, there was no study, so far, regarding the costs of clinical mastitis and only two studies were reported
Getaneh, Abraham Mekibeb +2 more
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Modelling marital reverse annuity contract in a stochastic economic environment
2021The paper presents 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.
Heilpern, Stanisław +2 more
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Stochastic Frontier Models in Sports Economics
International Journal of Sport Finance, 2014This paper is intended to introduce a variety of stochastic frontier econometric models to applied economists working in the field of sports economics. First, it discusses the characteristics and assumptions of individual stochastic frontier models that should be used in empirical studies.
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Applied stochastic modelling in financial economics
2019This Ph.D thesis focuses on two applied frameworks of stochastic con- trolling and optimisation in financial economics. The first focus (Chapter 1) is on the convergence trading with testing cross-listed stock arbitrage. The second (Chapter 2 to Chapter 4) is on the sequential studies of wealth inequality.
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Stochastic Processes in Economic Models
1986Stochastic processes have found increasing applications in modern economic models. In earlier times they were mainly used as additive errors or noise in a deterministic model without contributing very much to our basic understanding of the model structure, except perhaps hleping in providing a satisfactory basis of econometric estimation, e.g., the use
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The Oil Energy Price Cycle in Economic Activities: A Stochastic Model
Energy Sources, Part B: Economics, Planning, and Policy, 2013In the past, significant research has been conducted on the relationship between energy consumption and economic activities; a number of these articles have discussed the effects and shocks of energy prices in relation to economic growth. However, to date there has been little in the way of substantive research pertaining to the cycle of energy prices,
C.-C. Chang, T.-C. Lai
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Stochastic optimization in linear economic models
1985Linear economic models containing variablesx,y and parametersθ, that may be subject to a stochastic generating mechanism pose two basic problems of optimization. One is the problem of estimation of parametersθ from observations onx andy. This is dealt with in econometrics. The second is the problem of optimal decision-making under uncertainty under the
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From Stochastics to Complexity in Models of Economic Instability
Nonlinear Dynamics, Psychology, and Life Sciences, 1997Sixty years ago, the leading lights of the economics profession chose to model economic fluctuations as if they were caused by stochastic disturbances to an underlying stable, heavily damped system, in the mistaken belief that “a mathematically unstable system does not fluctuate; it just breaks down.” A perceptive minority instead concluded that the ...
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Stochastic differential games in economic modeling
1994In this paper we present two continuous-time models of economic competition which are based on a stochastic differential game formalism. We focus our presentation on the modeling possibilities offered by the frameworks of piecewise deterministic and switching diffusion control systems respectively.
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Stochastic unit-root models in economics
2013The dissertation at hand consists of three essays focussing on so-called stochastic unit-root (STUR) models in economics. A test of the null hypothesis of a unit root in an autoregressive model of order one (AR(1)) against alternatives nested in a STUR model is introduced. STUR models allow for changes between stationary and explosive regimes.
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