Results 261 to 270 of about 28,836 (304)

Stochastic models of social-economic dynamics

2015 International Conference "Stability and Control Processes" in Memory of V.I. Zubov (SCP), 2015
Model of time evolution which may be applied to description both of social and economy dinamics is proposed. The model is based on the assumption that evolution is stochastic process which have Markov property. Empirical data show that the stochastic process is ergodic.
Oleg A. Malafeyev, Sergey A. Nemnyugin, Georgy A. Ivaniukovich   +2 more
openaire   +1 more source

Stochastic Processes in Economic Models

1986
Stochastic 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
openaire   +1 more source

A Stochastic Replacement Economic Decision Model

IIE Transactions, 1986
Abstract This paper describes a general model to solve stochastic replacement economy problems. A general probabilistic model to describe the uncertainty about the cash flows of current and future challengers is presented. The model is then expressed as a stochastic replacement problem and solved using Monte Carlo simulation and dynamic programming ...
openaire   +1 more source

A Stochastic Learning Model of Economic Behavior

The Quarterly Journal of Economics, 1973
Stochastic learning theory, 242. — Probability matching: an example, 244. — The model, 247. — Alternative states of the market: a monopoly model, 252. — A simple market model, 254. — Further properties of the single-firm model, 256. — The dynamics of adjustment, 258. — The firm in disequilibrium, 261. — A final note: rules of thumb, 264.
openaire   +1 more source

A stochastic model of the economics of Internet search

Journal of Electronic Business & Digital Economics
PurposeInternet search is a $120bn business that answers lists of search terms or keywords with relevant links to Internet webpages. Only a few companies have sufficient scale to compete and thus economics of the process are paramount. This study aims to develop a detailed industry-specific modeling of the economics of internet search.Design ...
James Christopher Westland, Jian Mou
openaire   +1 more source

Stochastic Control of Nonlinear Economic Models

1994
In this paper we discuss some solutions of stochastic optimum control problems for nonlinear economic systems, emphasizing algorithmic and computational aspects. Several algorithms for this purpose have been implemented in FORTRAN programs, mostly for use with a mainframe computer. We point out some problems associated with such programs and propose an
Reinhard Neck, Josef Matulka
openaire   +1 more source

Stochastic Frontier Models in Sports Economics

International Journal of Sport Finance, 2014
This 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.
openaire   +1 more source

Stochastic optimization in linear economic models

1985
Linear 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
openaire   +1 more source

Applied stochastic modelling in financial economics

2019
This 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.
openaire   +2 more sources

Stochastic models in experimental economics

2018
Shortly after the introduction of Expected Utility Theory (EUT), economists and psychologists began publishing results that showed choices made by experimental subjects which apparently violate one or more of the EUT axioms. I discuss economists' responses to this evidence.
openaire   +1 more source