Related papers: A New Production Function Approach
It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…
Technology was created to support and grow Business. Modern business that uses technology efficiently, grows at a phenomenal rate (Statista.com, 2018). The assumption therefore is that businesses that utilize insufficient technology, or use…
We present a method of estimating the rate of entropy production in underdamped dynamics by decomposing it into contributions originating in different non-equilibrium effects. Specifically, a non-zero average velocity, a non-thermal width…
The purpose of this study is to estimate the production function and examine the structure of production in the mining sector of Iran. Several studies have already been conducted in estimating production functions of various economic…
Currently, the increase in financial returns from economic operations is constrained in view of the lack of a single efficiency criterion, which allows uniquely identify the business operation by their main feature - the possibility of…
The article examines how institutions, automation, unemployment and income distribution interact in the context of a neoclassical growth model where profits are interpreted as a surplus over costs of production. Adjusting the model to the…
Predictive process monitoring has recently gained traction in academia and is maturing also in companies. However, with the growing body of research, it might be daunting for companies to navigate in this domain in order to find, provided…
We model sectoral production by cascading binary compounding processes. The sequence of processes is discovered in a self-similar hierarchical structure stylized in the economy-wide networks of production. Nested substitution elasticities…
Technological advances allow manufacturers to collect and access data from a production system effectively. The objective of data collection is to deploy the collected data in developing decision support systems for performance evaluation,…
Over the last 10 years, there has been a growing interest in diversity in human capital. Fueled by the business case for diversity, there is an increasing interest in understanding how the combination of people with different backgrounds…
The recently introduced nested sampling algorithm allows the direct and efficient calculation of the partition function of atomistic systems. We demonstrate its applicability to condensed phase systems with periodic boundary conditions by…
This paper proposes a statistical mechanics approach to the analysis of income distribution and inequality. A new distribution function, having its roots in the framework of k-generalized statistics, is derived that is particularly suitable…
We propose a systematic procedure for the approximation of density functionals in density functional theory that consists of two parts. First, for the efficient approximation of a general density functional, we introduce an efficient ansatz…
In competitive industries, a reliable yield forecasting is a prime factor to accurately determine the production costs and therefore ensure profitability. Indeed, quantifying the risks long before the effective manufacturing process enables…
This paper focuses on studying the evaluation index system for the production efficiency of tobacco enterprises. Considering the limitations of existing evaluation methods in accurately assessing the production quality of cigarette…
Production planning in the manufacturing industry is crucial for fully utilizing factory resources (e.g., machines, raw materials and workers) and reducing costs. With the advent of industry 4.0, plenty of data recording the status of…
In this article we redefine various poverty measures in literature in terms of quantile functions instead of distribution functions in the prevailing approach. This enables provision for alternative methodology for poverty measurement and…
This work's purpose is to understand the dynamics of some social systems whose properties can be captured by certain iterated function systems. To achieve this intension, we start from the theory of iterated function systems, and then we…
Entropy production is a universal measure of irreversibility and energy dissipation in physical, chemical, and biological systems operating far from equilibrium. However, quantifying and spatiotemporally localising it in complex processes…
When dealing with control systems, it is useful and even necessary to assess the performance of underlying transfer functions. The functions may or may not be linear, may or may not be even monotonic. In addition, they may have structural…