Related papers: A production function with variable elasticity of …
The new linear theory of elastic shells is presented in this paper. This theory is free from various logical imperfections, that may be found in the approaches of earlier researchers. On the base of this theory the equations of shells of…
We investigate the model of "reversible ratchet" with interacting particles, introduced by us earlier [Europhys. Lett. 84, 50009 (2008)]. We further clarify the effect of efficiency enhancement due to interaction and show that it is of…
We consider the following problem in stochastic portfolio theory. Are there portfolios that are relative arbitrages with respect to the market portfolio over very short periods of time under realistic assumptions? We answer a slightly…
The expression "wage transition" refers to the fact that over the past two or three decades in all developed economies wage increases have levelled off. There has been a widening divergence and decoupling between wages on the one hand and…
Income- and price-elasticity of demand quantify the responsiveness of markets to changes in income, and in prices, respectively. Under the assumptions of utility maximization and preference-independence (additive preferences), mathematical…
For single components fluids, vanishing isothermal compressibility implies that the mass density is constant, but the same conclusion is unknown for multicomponent fluids. Here the volume remains affected by changes of the composition. In…
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…
Classical economics has developed an arsenal of methods, based on the idea of representative agents, to come up with precise numbers for next year's GDP, inflation and exchange rates, among (many) other things. Few, however, will disagree…
In estimation a parameter $\theta\in{\mathbb R}$ from a sample $(x_1,\ldots,x_n)$ from a population $P_{\theta}$ a simple way of incorporating a new observation $x_{n+1}$ into an estimator $\tilde\theta_{n} =…
A celebrated and controversial hypothesis conjectures that some biological systems --parts, aspects, or groups of them-- may extract important functional benefits from operating at the edge of instability, halfway between order and…
This paper is concerned with the estimation of the volatility process in a stochastic volatility model of the following form: $dX_t=a_tdt+\sigma_tdW_t$, where $X$ denotes the log-price and $\sigma$ is a c\`adl\`ag semi-martingale. In the…
We examine the exponentially improved asymptotic expansion of the Lerch zeta function $L(\lambda,a,s)=\sum_{n=1}^\infty \exp (2\pi ni\lambda)/(n+a)^s$ for large complex values of $a$, with $\lambda$ and $s$ regarded as parameters. It is…
We present experimental wear data for polymethyl methacrylate (PMMA) sliding on tile, sandpaper, and polished steel surfaces, as well as for soda-lime, borosilicate, and quartz glass sliding on sandpaper. The results are compared with a…
This article expands Milton Friedman's spending matrix to analyse 'spending efficiency' and 'preference compatibility' across different economic systems against five key outcome criteria. By generalising Friedman's typology, it compares…
We develop a generalized control function approach to production function estimation. Our approach accommodates settings in which productivity evolves jointly with other unobservable factors such as latent demand shocks and the…
A relation between sigma-additivity and linearizability, conjectured by Jacob Feldman in 1971 for continuous products of probability spaces, is established by relating both notions to a recent idea of noise stability/sensitivity.
We demonstrated the analogy between Economics and Gauge Theory of Plasticity and used it to describe the relationship between money supply and inflation at the economic market. The received equations of economical dynamics in phase space…
The implementation of a supervision and incentive process for identical workers may lead to wage variance that stems from employer and employee optimization. The harder it is to assess the nature of the labor output, the more important such…
Proceeding from the concept of rational expectations, a new dynamic model of supply and demand in a single market with one supplier, one buyer, and one kind of commodity is developed. Unlike the cob-web dynamic theories with adaptive…
In 1857 Sylvester stated a result on determinants without proof that was recognized as important over the subsequent century. Thus it was a surprise to Akritas, Akritas and Malaschonok when they found only one English proof - given by…