Related papers: A New Production Function Approach
Labor market institutions are central for modern economies, and their polices can directly affect unemployment rates and economic growth. At the individual level, unemployment often has a detrimental impact on people's well-being and…
Nested sampling is a Bayesian sampling technique developed to explore probability distributions lo- calised in an exponentially small area of the parameter space. The algorithm provides both posterior samples and an estimate of the evidence…
Evaluating the financial performance of manufacturing firms requires consideration of both the time value of money and the relative importance of multiple decision criteria. Conventional approaches relying solely on deterministic…
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…
We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey power-distributions, in sharp contrast to the equilibrium theories of…
Dynamic manufacturing processes exhibit complex characteristics defined by time-varying parameters, nonlinear behaviors, and uncertainties. These characteristics require sophisticated in-situ monitoring techniques utilizing multimodal…
Pushing/Pulling tasks is an important part of work in many industries. Usually, most researchers study the Push/Pull tasks by analyzing different posture conditions, force requirements, velocity factors, etc. However few studies have…
Mathematical modeling of production systems is the foundation of all model-based approaches for production system analysis, design, improvement, and control. To construct such a model for the stochastic process of the production system more…
In this paper, an attempt is made to systematically discuss the development of simulation systems for manufacturing system design. General requirements on manufacturing simulators are formulated and a framework to address the requirements…
In this extended abstract, we propose Structured Production Systems (SPS), which extend traditional production systems with well-formed syntactic structures. Due to the richness of structures, structured production systems significantly…
The manufacturing sector is envisioned to be heavily influenced by artificial intelligence-based technologies with the extraordinary increases in computational power and data volumes. A central challenge in manufacturing sector lies in the…
We explore the nonlinear dynamics of a macroeconomic model with resource constraints. The dynamics is derived from a production function that considers capital and a generalized form of energy as inputs. Energy, the new variable, is…
Due to the wide diffusion of 3D printing technologies, geometric algorithms for Additive Manufacturing are being invented at an impressive speed. Each single step, in particular along the Process Planning pipeline, can now count on dozens…
We show how the Shannon entropy function can be used as a basis to set up complexity measures weighting the economic efficiency of countries and the specialization of products beyond bare diversification. This entropy function guarantees…
This note introduces a new Bayesian control chart to compare two processes by monitoring the ratio of their percentiles under Weibull assumption. Both in-control and out-of-control parameters are supposed unknown. The chart analyses the…
Nowadays all industrial sectors are increasingly faced with the explosion in the amount of data. Therefore, it raises the question of the efficient use of this large amount of data. In this research work, we are concerned with process and…
The present status of our understanding of onium production is reviewed. Different models are described and comparisons of theoretical predictions with experimental data are given.
We propose a framework for the configuration and operation of expensive-to-evaluate advanced manufacturing methods, based on Bayesian optimization. The framework unifies a tailored acquisition function, a parallel acquisition procedure, and…
The use of steel is essential in many industries, including infrastructure, transportation, and modern architecture. Predicting power consumption in the steel industry is crucial to meet the rising demand for steel and promoting city…
In this paper, we completely classify homogeneous production functions with an arbitrary number of inputs whose production hypersurfaces are flat. As an immediate consequence, we obtain a complete classification of homogeneous production…