Related papers: Direct and indirect transactions and requirements
We develop a new stock market index that captures the chaos existing in the market by measuring the mutual changes of asset prices. This new index relies on a tensor-based embedding of the stock market information, which in turn frees it…
In the international standard for system and software engineering ISO/IEC/IEEE 15288: 2015, the output of the stakeholder needs and the business or mission analysis technical processes are transformed into a technical view of the system by…
A financial market is a system resulting from the complex interaction between participants in a closed economy. We propose a minimal microscopic model of the financial market economy based on the real economy's symmetry constraint and…
The complementarity and substitutability between products are essential concepts in retail and marketing. Qualitatively, two products are said to be substitutable if a customer can replace one product by the other, while they are…
Forward-looking correlations are of interest in different financial applications, including factor-based asset pricing, forecasting stock-price movements or pricing index options. With a focus on non-FX markets, this paper defines necessary…
Since governments give stimulus to firms and expect the spillover effect by fiscal policies, it is important to know the effectiveness that they can control the economy. To clarify the controllability of the economy, we investigate a firm…
Production theory, defined as the study of the economic process of transforming inputs into outputs, consists of two simultaneous economic forces: cost minimization and profit maximization. The cost minimization problem involves deriving…
Financial structures such as securitisations, insurance contracts, and other hierarchical claims systems can be interpreted as deterministic allocation mechanisms acting on stochastic inflow processes. This paper develops a general…
This paper presents a new financial market simulator that may be used as a tool in both industry and academia for research in market microstructure. It allows multiple automated traders and/or researchers to simultaneously connect to an…
This paper develops a new model of business cycles. The model is economical in that it is solved with an aggregate demand-aggregate supply diagram, and the effects of shocks and policies are obtained by comparative statics. The model builds…
We propose a general interpretation for long-range correlation effects in the activity and volatility of financial markets. This interpretation is based on the fact that the choice between `active' and `inactive' strategies is subordinated…
Business Process Management and Operations Research are two research fields that both aim to enhance value creation in organizations. While Business Process Management has historically emphasized on providing precise models, Operations…
In finance, economics and many other fields, observations in a matrix form are often observed over time. For example, many economic indicators are obtained in different countries over time. Various financial characteristics of many…
A central question in economics is whether automation will displace human labor and diminish standards of living. Whilst prior works typically frame this question as a competition between human labor and machines, we frame it as a…
This paper discusses system consequence, a central idea in the project to lift the theory of information flow to the abstract level of universal logic and the theory of institutions. The theory of information flow is a theory of distributed…
We propose a theory of the market impact of metaorders based on a coarse-grained approach where the microscopic details of supply and demand is replaced by a single parameter $\rho \in [0,+\infty]$ shaping the supply-demand equilibrium and…
The main purpose of this paper is to formalize the modelling process, analysis and mathematical definition of corruption when entering into a contract between principal agent and producers. The formulation of the problem and the definition…
In this work we investigate the inefficiency of the electricity system with strategic agents. Specifically, we prove that without a proper control the total demand of an inefficient system is at most twice the total demand of the optimal…
The "theory of open sub-functorial dynamics" is a new theory that defines interacting generalized dynamical systems. The interactions between these dynamics produce new dynamics which, of course, can then enter into other interactions. A…
This paper provides the analysis for functional approaches of complex network systems research. In order to study the behavior of these systems the flow adjacency matrices were introduced. The concepts of strength, power, domain and…