Related papers: A production function with variable elasticity of …
An economy-wide production network, manifested through monetary input-output coefficients, inherently destabilizes during the general equilibrium propagation of sectoral productivity shocks when substitution elasticities are non-neutral.…
The key idea of this model is that firms are the result of an evolutionary process. Based on demand and supply considerations the evolutionary model presented here derives explicitly Gibrat's law of proportionate effects as the result of…
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…
Although creativity is encouraged in the abstract it is often discouraged in educational and workplace settings. Using an agent-based model of cultural evolution, we investigated the idea that tempering the novelty-generating effects of…
This book is not meant to be another compendium of select inequalities, nor does it claim to contain the latest or the slickest ways of proving them. This project is rather an attempt at describing how most functional inequalities are not…
This paper considers a stochastic production planning problem with regime switching. There are two regimes corresponding to different economic cycles. A factory is planning its production so as to minimize production costs. We analyze this…
Knitting turns yarn, a 1D material, into a 2D fabric that is flexible, durable [1], and can be patterned to adopt a wide range of 3D geometries [2]. Like other mechanical metamaterials [3], the elasticity of knitted fabrics is an emergent…
Fluctuation theorems make use of time reversal to make predictions about entropy production in many-body systems far from thermal equilibrium. Here we review the wide variety of distinct, but interconnected, relations that have been derived…
Nowadays, there is an increasing concern about the unsustainability of the take-make-dispose paradigm upon which traditional production and consumption systems are built. The concept of circular economy is gaining attention as a potential…
Ductility quantifies a material's capacity for plastic deformation, and it is a key property for preventing fracture driven failure in engineering parts. While some brittle materials exhibit improved ductility at small scales, the processes…
Rigidity is an emergent property of materials - it is not a feature of individual components that comprise the structure, but instead arises from interactions between many constituent parts. Recently, it has been recognized that…
Functional proteins must fold with some minimal stability to a structure that can perform a biochemical task. Here we use a simple model to investigate the relationship between the stability requirement and the capacity of a protein to…
Nontransitive choices have long been an area of curiosity within economics. However, determining whether nontransitive choices represent an individual's preference is a difficult task since choice data is inherently stochastic. This paper…
An influential theory of increasing returns has been proposed by the economist W. B. Arthur in the '80s to explain the lock-in phenomenon between two competing commercial products. In the most simplified situation there are two competing…
Using the log-convexity of the Gamma function and Euler's reflection formula, we give a new proof of a classical weighted sine product inequality. Two different parameter choices yield two competing upper bounds for the same product. We…
This paper discusses desirable properties of forecasting models in production systems. It then develops a family of models which are designed to satisfy these properties: highly customizable to capture complex patterns; accommodates a large…
We analyze the relative price change of assets starting from basic supply/demand considerations subject to arbitrary motivations. The resulting stochastic differential equation has coefficients that are functions of supply and demand. We…
We present a constructive proof of the existence of an equilibrium in a competitive economy with sequentially locally non-constant excess demand functions. And we will show that the existence of such an equilibrium implies Sperner's lemma.…
In computing, as in many aspects of life, changes incur cost. Many optimization problems are formulated as a one-time instance starting from scratch. However, a common case that arises is when we already have a set of prior assignments, and…
Change in the interatomic spacing of a two-atom system under tension and compression has been modelled by the elastic deformation of atoms. The critical elastic strain of atoms before separation or cracking from tension was estimated by the…