Related papers: The Cobb-Douglas production function revisited

In 1655, John Wallis whilst at the University of Oxford discovered the famous and beautiful formula for pi, now known as Wallis' Product. Since then, several analogous formulae have been discovered generalising the original. One more modern…

Jack polynomials generalize several classical families of symmetric polynomials, including Schur polynomials, and are further generalized by Macdonald polynomials. In 1989, Richard Stanley conjectured that if the Littlewood-Richardson…

Differential lambda-calculus was first introduced by Thomas Ehrhard and Laurent Regnier in 2003. Despite more than 15 years of history, little work has been done on a differential calculus with integration. In this paper, we shall propose a…

As high-dimensional and high-frequency data are being collected on a large scale, the development of new statistical models is being pushed forward. Functional data analysis provides the required statistical methods to deal with large-scale…

Classical, self-consistent theory of statistical mechanics was developed for the thermodynamic and conservative Hamiltonian systems. Later there were many attempts (Sinai-Bowen-Ruelle's temperature, Tsallis' non-extensive theory) to apply…

Factor analysis is a statistical technique employed to evaluate how observed variables correlate through common factors and unique variables. While it is often used to analyze price movement in the unstable stock market, it does not always…

In statistical physics, entropy is generally logarithm of probability. Therefore, if dynamics is decomposed by log, entropy production should be decomposed properly. In the present work, log-decomposition of dynamics is introduced. By which…

A mathematical framework for Continuous Time Finance based on operator algebraic methods offers a new direct and entirely constructive perspective on the field and leads to new numerical analysis techniques. This is partly a review paper as…

Through the classical umbral calculus, we provide a unifying syntax for single and multivariate $k$-statistics, polykays and multivariate polykays. From a combinatorial point of view, we revisit the theory as exposed by Stuart and Ord,…

Elicitable functionals and (strictly) consistent scoring functions are of interest due to their utility of determining (uniquely) optimal forecasts, and thus the ability to effectively backtest predictions. However, in practice, assuming…

Data can be assumed to be continuous functions defined on an infinite-dimensional space for many phenomena. However, the infinite-dimensional data might be driven by a small number of latent variables. Hence, factor models are relevant for…

The distribution of impact factors has been modeled in the recent informetric literature using two-exponent law proposed by Mansilla et al. (2007). This paper shows that two distributions widely-used in economics, namely the Dagum and…

Based on a multisector general equilibrium framework, we show that the sectoral elasticity of substitution plays the key role in the evolution of asymmetric tails of macroeconomic fluctuations and the establishment of robustness against…

This paper studies high-dimensional curve time series with common stochastic trends. A dual functional factor model structure is adopted with a high-dimensional factor model for the observed curve time series and a low-dimensional factor…

The methods of statistical mechanics are applied to two-dimensional foams under macroscopic agitation. A new variable -- the total cell curvature -- is introduced, which plays the role of energy in conventional statistical thermodynamics.…

Two fundamental research tasks in science and engineering are forward predictions and data inversion. This article introduces a recent R package RobustCalibration for Bayesian data inversion and model calibration by experiments and field…

Change in language use is driven by cultural forces; it is unclear whether that extends to programming languages. They are designed to be used by humans, but interaction with computer hardware rather than a human audience may limit…

Economists are blessed with a wealth of data for analysis, but more often than not, values in some entries of the data matrix are missing. Various methods have been proposed to handle missing observations in a few variables. We exploit the…

Functional data analysis (FDA) is a statistical framework that allows for the analysis of curves, images, or functions on higher dimensional domains. The goals of FDA, such as descriptive analyses, classification, and regression, are…

The classical form of Gr\"uss' inequality, first published by G. Gr\"{u}ss in 1935, gives an estimate of the difference between the integral of the product and the product of the integrals of two functions. In the subsequent years, many…