Related papers: Economic Hysteresis and Its Mathematical Modeling
Models with dimension more than the available sample size are now commonly used in various applications. A sensible inference is possible using a lower-dimensional structure. In regression problems with a large number of predictors, the…
We consider a piecewise linear two-dimensional dynamical system that couples a linear equation with the so-called stop operator. Global dynamics and bifurcations of this system are studied depending on two parameters. The system is…
The paper presents instructive interdisciplinary applications of constrained mechanics calculus in economics on a level appropriate for the undergraduate physics education. The aim of the paper is: 1. to meet the demand for illustrative…
Concerning bivariate least squares linear regression, the classical results obtained for extreme structural models in earlier attempts are reviewed using a new formalism in terms of deviation (matrix) traces which, for homoscedastic data,…
A novel hybrid dynamical model for single-coil, short-stroke reluctance actuators is presented in this paper. The model, which is partially based on the principles of magnetic equivalent circuits, includes the magnetic phenomena of…
Hysteresis can be found in driven many-body systems such as magnets and superfluids. Rate-dependent hysteresis arises when a system is driven periodically while relaxing towards equilibrium. A two-state paramagnet driven by an oscillating…
During its history, the ultimate goal of economics has been to develop similar frameworks for modeling economic behavior as invented in physics. This has not been successful, however, and current state of the process is the neoclassical…
We propose and illustrate a hierarchical Bayesian approach for matching statistical records observed on different occasions. We show how this model can be profitably adopted both in record linkage problems and in capture--recapture setups,…
Statistical analysis is an important tool to distinguish systematic from chance findings. Current statistical analyses rely on distributional assumptions reflecting the structure of some underlying model, which if not met lead to problems…
The intermittent route to spatio-temporal complexity is analyzed in a simple model which displays a subcritical bifurcation without hysteresis. A new type of spatio-temporal complexity is found, induced by fronts which "convectively clean"…
Hysteresis characteristics of the general Spin-S ($S>1$) Blume-Capel model have been studied within the effective field approximation. Particular emphasis has been paid on the large negative valued crystal field region and it has been…
Statistical physics has proven to be a very fruitful framework to describe phenomena outside the realm of traditional physics. The last years have witnessed the attempt by physicists to study collective phenomena emerging from the…
Model-based diagnosis reasons backwards from a functional schematic of a system to isolate faults given observations of anomalous behavior. We develop a fully probabilistic approach to model based diagnosis and extend it to support…
Predicting panic is of critical importance in many areas of human and animal behavior, notably in the context of economics. The recent financial crisis is a case in point. Panic may be due to a specific external threat, or self-generated…
Many economic theory models incorporate finiteness assumptions that, while introduced for simplicity, play a real role in the analysis. We provide a principled framework for scaling results from such models by removing these finiteness…
Statistics experiences a storm around the perceived misuse and possible abuse of its methods in the context of the so-called reproducibility crisis. The methods and styles of quantification practiced in mathematical modelling rarely make it…
The state of economic theory and accumulated facts from the different branches of the economic science require to analyze the concept of the description of economy systems. The economic reality generates the problems the solution of that is…
In this chapter the complex systems are discussed in the context of economic and business policy and decision making. It will be showed and motivated that social systems are typically chaotic, non-linear and/or non-equilibrium and therefore…
The recent development of compressed sensing has led to spectacular advances in the understanding of sparse linear estimation problems as well as in algorithms to solve them. It has also triggered a new wave of developments in the related…
The major study by Bordo and Helbing (2003) analyses the business cycle in Western economies 1881-2001. They examine four distinct periods in economic history, and conclude that there is a secular trend towards greater synchronisation for…