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Scientific and technological progress has historically been very beneficial to humanity but this does not always need to be true. Going forward, science may enable bad actors to cause genetically engineered pandemics that are more frequent…
Although definitions of technology exist to explain the patterns of technological innovations, there is no general definition that explain the role of technology for humans and other animal species in environment. The goal of this study is…
Functions or 'functionings' enable to give a structure to any activity and their combinations constitute the capabilities which characterize economic assets such as work utility. The basic law of supply and demand naturally emerges from…
The article examines how institutions, automation, unemployment and income distribution interact in the context of a neoclassical growth model where profits are interpreted as a surplus over costs of production. Adjusting the model to the…
This paper suggests that business cycles may be a manifestation of coupled real economy and stock market dynamics and describes a mechanism that can generate economic fluctuations consistent with observed business cycles. To this end, we…
The interdependence of electricity and natural gas markets is becoming a major topic in energy research. Integrated energy models are used to assist decision-making for businesses and policymakers addressing challenges of energy transition…
The information age is also an era of escalating social problems. The digital transformation of society and the economy is already underway in all countries, although the progress in this transformation can vary widely. There are more…
In a scenario of growing usage of park-and-ride facilities, understanding and predicting car park occupancy is becoming increasingly important. This study presents a model that effectively captures the occupancy patterns of park-and-ride…
We distinguish between an internal differentiation of science and technology that focuses on instrumentalities and an external differentiation in terms of the relations of the knowledge production process to other social domains, notably…
The ability of large language models (LLMs) to manage and acquire economic resources remains unclear. In this paper, we introduce \textbf{Market-Bench}, a comprehensive benchmark that evaluates the capabilities of LLMs in…
We describe a probabilistic framework for synthesizing control policies for general multi-robot systems, given environment and sensor models and a cost function. Decentralized, partially observable Markov decision processes (Dec-POMDPs) are…
Knowledge spillovers occur when a firm researches a new technology and that technology is adapted or adopted by another firm, resulting in a social value of the technology that is larger than the initially predicted private value. As a…
Debates over the trade-offs between specialization and diversification have long intrigued scholars and policymakers. Specialization can amplify an economy by concentrating on core strengths, while diversification reduces vulnerability by…
Many studies suggest that searching for parking is associated with significant direct and indirect costs. Therefore, it is appealing to reduce the time which car drivers spend on finding an available parking lot, especially in urban areas…
Since Reform and Opening-up 40 years ago, China has made remarkable achievements in economic fields. And consumption activities, including household consumption, have played an important role in it. Consumer activity is the end of economic…
Small Modular Reactors (SMRs) are compact nuclear power plants that offer various advantages for energy generation in a sustainable way. With their smaller and simplified designs, SMRs provide increased flexibility, lower capital costs, and…
The emergence of interconnected urban networks is a crucial feature of globalisation processes. Understanding the drivers behind the growth of such networks - in particular urban firm networks -, is essential for the economic resilience of…
The paper discusses the process of social and economic development of municipalities. A conclusion is made that developing an adequate model of social and economic development using conventional approaches presents a considerable challenge.…
Socio-economic data mining has a great potential in terms of gaining a better understanding of problems that our economy and society are facing, such as financial instability, shortages of resources, or conflicts. Without large-scale data…
In this paper, I propose a new general equilibrium model that explains stylized facts about venture capitalists' impact on their portfolio firms. Venture capitalists can help increase firms' productivity, yet they face increasing entry…