Related papers: Designing An Industrial Policy For Developing Coun…
Economic growth and the growth of human population in the past 2,000,000 years are extensively examined. Data are found to be in a clear contradiction of the currently accepted explanations of the mechanism of growth, which revolve around…
Institutions and their aggregates are not the right units of analysis for developing a science policy with cognitive goals in view. Institutions, however, can be compared in terms of their performance with reference to their previous…
Many macroeconomic policy questions may be assessed in a case study framework, where the time series of a treated unit is compared to a counterfactual constructed from a large pool of control units. I provide a general framework for this…
We study several models of growth driven by innovation and imitation by a continuum of firms, focusing on the interaction between the two. We first investigate a model on a technology ladder where innovation and imitation combine to…
This paper tackles challenges in pricing and revenue projections due to consumer uncertainty. We propose a novel data-based approach for firms facing unknown consumer type distributions. Unlike existing methods, we assume firms only observe…
There is growing acknowledgement within the software engineering community that a theory of software development is needed to integrate the myriad methodologies that are currently popular, some of which are based on opposing perspectives.…
The attempt to determine the population growth rate from field data reveals several ambiguities in its definition(s), which seem to throw into question the very concept itself. However, an alternative point of view is proposed that not only…
Data-driven intelligent computational design (DICD) is a research hotspot emerged under the context of fast-developing artificial intelligence. It emphasizes on utilizing deep learning algorithms to extract and represent the design features…
U-statistics are widely used in fields such as economics, machine learning, and statistics. However, while they enjoy desirable statistical properties, they have an obvious drawback in that the computation becomes impractical as the data…
Concurrent engineering taking into account product life-cycle factors seems to be one of the industrial challenges of the next years. Cost estimation and management are two main strategic tasks that imply the possibility of managing costs…
This survey (re)introduces reinforcement learning methods to economists. The curse of dimensionality limits how far exact dynamic programming can be effectively applied, forcing us to rely on suitably "small" problems or our ability to…
Pontrygin-type maximum principle is extended for the present value Hamiltonian systems and current value Hamiltonian systems of nonlinear difference equations for uniform time step $h$. A new method termed as a discrete time current value…
A novel approach to analyzing time series generated by complex systems, such as markets, is presented. The basic idea of the approach is the {\it Law of Self-Similar Evolution}, according to which any complex system develops self-similarly.…
We consider a simple variant of the von Neumann model of an expanding economy, in which multiple producers make goods according to their production function. The players trade their goods at the market and then use the bundles acquired for…
Markov Decision Processes (MDPs) offer a fairly generic and powerful framework to discuss the notion of optimal policies for dynamic systems, in particular when the dynamics are stochastic. However, computing the optimal policy of an MDP…
In 2015, the United Nations put forward 17 Sustainable Development Goals (SDGs) to be achieved by 2030, where data has been promoted as a focus to innovating sustainable development and as a means to measuring progress towards achieving the…
The global production (as a system of creating values) is eventually forming a vast web of value chains that explains the transitional structures of global trade and development of the world economy. It is truly a new wave of globalisation,…
Formal methods refer to rigorous, mathematical approaches to system development and have played a key role in establishing the correctness of safety-critical systems. The main building blocks of formal methods are models and specifications,…
Is there a general economic pathway recapitulated by individual cities over and over? Identifying such evolution structure, if any, would inform models for the assessment, maintenance, and forecasting of urban sustainability and economic…
Classic economic science is reaching the limits of its explanatory powers. Complexity science uses an increasingly larger set of different methods to analyze physical, biological, cultural, social, and economic factors, providing a broader…