Related papers: The Cobb-Douglas production function revisited
The Solow-Swan model is shortly reviewed from a mathematical point of view. By considering non-constant returns to scale, we obtain a general solution strategy. We then compute the exact solution for the Cobb-Douglas production function,…
Nolan and Temple Lang argue that "the ability to express statistical computations is an essential skill." A key related capacity is the ability to conduct and present data analysis in a way that another person can understand and replicate.…
Compositional data are commonly known as multivariate observations carrying relative information. Even though the case of vector or even two-factorial compositional data (compositional tables) is already well described in the literature,…
The process of creating goods and services, measured by their value, is considered a process of creating complexity. This allows us to consider the production system as an open thermodynamic system, and to develop a simple heuristic model…
As countries develop, the relative importance of agriculture declines and economic activity becomes spatially concentrated. We develop a model integrating structural change and regional disparities to jointly capture these phenomena. A key…
This paper focuses on a generalization of the *-product called $\mathbf{C}$-product. This product, first introduced by Durante, Klement and Quesada-Molina, was used to characterize classes of compatible copulas. The $\mathbf{C}$-product of…
The idea of this paper comes from the famous remark of Piketty and Zuckman: "It is natural to imagine that $\sigma$ was much less than one in the eighteenth and nineteenth centuries and became larger than one in the twentieth and…
In this paper we study the volatility and its probability distribution function for the cumulative production based on the experience curve hypothesis. This work presents a generalization of the study of volatility in [1], which addressed…
Scientists often re-invent things that were long known. Here we review these activities as related to the mechanism of producing power law distributions, originally proposed in 1922 by Yule to explain experimental data on the sizes of…
In functional data analysis, replicate observations of a smooth functional process and its derivatives offer a unique opportunity to flexibly estimate continuous-time ordinary differential equation models. Ramsay (1996) first proposed to…
This paper proposes a correlated random coefficient linear panel data model, where regressors can be correlated with time-varying and individual-specific random coefficients through both a fixed effect and a time-varying random shock. I…
A new class of copulas based on order statistics was introduced by Baker (2008). Here, further properties of the bivariate and multivariate copulas are described, such as that of likelihood ratio dominance (LRD), and further bivariate…
A new expression is here proposed for the production term Q in the Boltzmann Equation. This new expression satisfies the H-Theorem (non approximated) and, in the transition to Ordinary Thermodynamics gives a result which is independent on…
Recursive analysis was introduced by A. Turing [1936], A. Grzegorczyk [1955], and D. Lacombe [1955]. It is based on a discrete mechanical framework that can be used to model computation over the real numbers. In this context the…
Dividend discount models have been developed in a deterministic setting. Some authors (Hurley and Johnson, 1994 and 1998; Yao, 1997) have introduced randomness in terms of stochastic growth rates, delivering closed-form expressions for the…
In practice , quite often there is a need to describe the values set by means of a table in the form of some functional dependence . The observed values , due to certain circumstances , have an error . For approximation, it is advisable to…
The primary objective of flexibility analysis is to identify and define the feasibility region, which represents the range of operational conditions (e.g., variations in process parameters) that ensure safe, reliable, and feasible process…
High dimensional correlated binary data arise in many areas, such as observed genetic variations in biomedical research. Data simulation can help researchers evaluate efficiency and explore properties of different computational and…
Rowland found a matrix product formula for generating functions counting binomial coefficients by their $p$-adic valuations. A natural generalization of binomial coefficients was introduced by Knuth and Wilf defined by a sequence $C$. We…
In this paper, we set up the theoretical foundations for a high-dimensional functional factor model approach in the analysis of large cross-sections (panels) of functional time series (FTS). We first establish a representation result…