Related papers: Oil economy phase plot: a physical analogy
In this paper we present an econophysic model for the description of shares transactions in a capital market. For introducing the fundamentals of this model we used an analogy between the electrical field produced by a system of charges and…
We introduce a pathwise approach to analyze the relative performance of an equity portfolio with respect to a benchmark market portfolio. In this energy-entropy framework, the relative performance is decomposed into three components: a…
We propose a non-linear state-space model to examine the relationship between CO$_2$ emissions, energy sources, and macroeconomic activity, using data from 1971 to 2019. CO$_2$ emissions are modeled as a weighted sum of fossil fuel use,…
Oil reservoirs around the globe are at their declining phase and in spite of enormous effectiveness of Enhanced Oil Recovery(EOR) in the Tertiary Stage. This process still bypasses some oil reason being surface forces responsible for…
"Big Data is the oil of the new economy" is the most famous citation during the three last years. It has even been adopted by the World Economic Forum in 2011. In fact, Big Data is like crude! It's valuable, but if unrefined it cannot be…
The work focuses on the modelling and imputation of oil and gas reservoirs parameters, specifically, the problem of predicting the oil recovery factor (RF) using Bayesian networks (BNs). Recovery forecasting is critical for the oil and gas…
This mathematical essay brings together ideas from Economics, Geobiodynamics and Thermodynamics. Its purpose is to obtain real models of complex evolutionary systems. More specifically, the essay defines Roegenian Economy and links…
We explore the nonlinear dynamics of a macroeconomic model with resource constraints. The dynamics is derived from a production function that considers capital and a generalized form of energy as inputs. Energy, the new variable, is…
We analyse four consecutive cycles observed in the USA for employment and inflation. They are driven by three oil price shocks and an intended interest rate shock. Non-linear coupling between the rate equations for consumer products as prey…
In this chapter, an input-output economic model with multiple interactive economic systems is considered. The model captures the multi-dimensional nature of the economic sectors or industries in each economic system, the interdependencies…
Economic growth is often associated with diversification of economic activities. Making a product in a country is dependent on having, and acquiring, the capabilities needed to make the product, making the process path-dependent. We derive…
The Transition Path Theory (TPT) of complex systems has proven a robust means for statistically characterizing the ensemble of trajectories that connect any two preset flow regions, say $\mathcal A$ and $\mathcal B$, directly. More…
A systematic model development for oil flow in quasi-3D (1D + 2D) is presented. Our approach provides a unified modeling scheme. Besides, additional terms are obtained, which allows for tubing area variation along the flow direction. The…
This work examines how the dependence structures between energy futures asset prices differ in two periods identified before and after the 2008 global financial crisis. These two periods were characterised by a difference in the number of…
We present a methodology for representing probabilistic relationships in a general-equilibrium economic model. Specifically, we define a precise mapping from a Bayesian network with binary nodes to a market price system where consumers and…
We demonstrate using multi-layered networks, the existence of an empirical linkage between the dynamics of the financial network constructed from the market indices and the macroeconomic networks constructed from macroeconomic variables…
This paper introduces an approach to gas-like models, from the concept of entropy, using the money stock data of two economic agents, in this case of two countries, which carry out market actions (trading) in two theoretical scenarios: in…
We present a new approach to description of national economies. For this we use the state space viewpoint, which is used mostly in the theory of dynamical systems and in the control theory. Gross domestic product, inflation, and…
The prognosis for potential resources of abiotic natural gas and petroleum depends critically upon the nature and circumstances of Earth formation. Until recently, that prognosis has been considered solely within the framework of the…
Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…