Related papers: Mathematical modeling of physical capital using th…
This study presents a computational simulation exploring the complex interactions between population density and economic factors over a 100-year period. Inspired by the Keller-Segel model, traditionally applied in biological contexts, my…
This study simulates the evolution of artificial economies in order to understand the tax relevance of administrative boundaries in the quality of life of its citizens. The modeling involves the construction of a computational algorithm,…
Behavioural finance offers a valuable framework for examining foreign exchange (FX) market dynamics, including puzzles such as excess volatility and fat-tailed distributions. Yet, when it comes to their interaction with the `real' side of…
Economists' interests in growth theory have a very long history (Harrod, 1939; Domar, 1946; Solow, 1956; Swan 1956; Mankiw, Romer, and Weil, 1992). Recently, starting from the neoclassical growth model, Ertur and Koch (2007) developed the…
This paper presents a physical perspective on the human migration phenomenon claiming that human social behaviors are somehow but not completely inspired by nature. Human displacement or migration in the world is highly affected by…
The highly detailed international trade data among all countries in the world during 1971-2000 shows that the kinds of export goods and the logarithmic GDP (gross domestic production) of a country has an S-shaped relationship. This…
We demonstrate by mathematical analysis and systematic computer simulations that redistribution can lead to sustainable growth in a society. The human capital dynamics of each agent is described by a stochastic multiplicative process which,…
An array system of coupled maps is proposed as a model for economy evolution. The local dynamics of each map or agent is controlled by two parameters. One of them represents the growth capacity of the agent and the other one is a control…
We consider an economic geography model with two inter-regional proximity structures: one governing goods trade and the other governing production externalities across regions. We investigate how the introduction of the latter affects the…
Migration's impact spans various social dimensions, including demography, sustainability, politics, economy and gender disparities. Yet, the decision-making process behind migrants choosing their destination remains elusive. Existing models…
Arguably the most important problem in quantitative finance is to understand the nature of stochastic processes that underlie market dynamics. One aspect of the solution to this problem involves determining characteristics of the…
Understanding how spatial configurations of economic activity emerge is important when formulating spatial planning and economic policy. A simple model was proposed by Simon, who assumed that firms grow at a rate proportional to their size,…
Half of the world population resides in cities and urban segregation is becoming a global issue. One of the best known attempts to understand it is the Schelling model, which considers two types of agents that relocate whenever a transfer…
While the use of spatial agent-based and individual-based models has flourished across many scientific disciplines, the complexities these models generate are often difficult to manage and quantify. This research reduces population-driven,…
We analyze mathematical models of the global human population growth and compare them to actual dynamics of the world population and of the world surplus product. We consider a possibility that the so-called world's demographic transition…
This study examined the relationship between trade facilitation and economic growth among the middle-income countries from 2010 to 2020 using 94 countries made up of 48 lower-middle-income countries and 46 upper-middle-income countries. The…
Human mobility contributes to the fast spatio-temporal propagation of infectious diseases. During an outbreak, monitoring the infection situation on either side of an international border is very crucial as there is always a higher risk of…
The emerging system at the European level can be conceptualized as a pattern of relations among member states that tends to be reproduced despite disturbances in individual trajectories. The Markov property is used as an indicator of…
The existing theorization of development economics and transition economics is probably inadequate and perhaps even flawed to accurately explain and analyze a dual economic system such as that in China. China is a country in the transition…
We characterize the outcomes of a canonical deterministic model for the intergenerational transmission of capital that features differential fertility. A fertility function determines the relationship between parental capital and the number…