Related papers: Logistic modelling of economic dynamics
On the basis of dynamical principles we derive the Logistic Equation (LE), widely employed (among multiple applications) in the simulation of population growth, and demonstrate that scale-invariance and a mean-value constraint are…
A competitive resource-consumer dynamical model is analyzed based on an integrated model of a competitive Lotka-Volterra model and a prey-predator Rosenzweig-MacArthur model that we call that LV-RM model throughout this paper. Resource…
In this paper we study the dynamics of a class of bi-agent logistics systems consisting of two types of agents interacting on an arbitrary complex network. By approximating the system with simple microscopic models and solving them…
We propose and study a stochastic capital-labour model with logistic growth function. First, we show that the model has a unique positive global solution. Then, using the Lyapunov analysis method, we obtain conditions for the extinction of…
We investigate the dynamics of growth models in terms of dynamical system theory. We analyse some forms of knowledge and its influence on economic growth. We assume that the rate of change of knowledge depends on both the rate of change of…
We integrate dual-process theories of human cognition with evolutionary game theory to study the evolution of automatic and controlled decision-making processes. We introduce a model where agents who make decisions using either automatic or…
In the present paper we provide the closed form of the path-like solutions for the logistic and $\theta$-logistic stochastic differential equations, along with the exact expressions of both their probability density functions and their…
International trade policies have recently garnered attention for limiting cross-border exchange of essential goods (e.g. steel, aluminum, soybeans, and beef). Since trade critically affects employment and wages, predicting future patterns…
I develop a simple Schumpeterian agent-based model where the entry and exit of firms, their productivity and markup, the birth of new industries and the social structure of the population are endogenous and use it to study the causes of…
In several recent publications, Bettencourt, West and collaborators claim that properties of cities such as gross economic production, personal income, numbers of patents filed, number of crimes committed, etc., show super-linear…
Economic growth is measured as the rate of relative change in gross domestic product (GDP) per capita. Yet, when incomes follow random multiplicative growth, the ensemble-average (GDP per capita) growth rate is higher than the time-average…
The opinion dynamics of economic agents is modeled with the link structure influenced by the resulting opinions: Links between people of nearly the same opinion are more stable than those between people of vastly different opinions. A…
Many planning and decision activities in logistics and supply chain management are based on forecasts of multiple time dependent factors. Therefore, the quality of planning depends on the quality of the forecasts. We compare various…
To succeed in a Big Data strategy, you have to arm yourself with a wide range of data skills and best practices. This strategy can result in an impressive asset that can streamline operational costs, reduce time to market, and enable the…
This paper investigates a nonlinear logistic model for age-structured population dynamics. The model incorporates interdependent fertility and mortality functions within a logistic framework, offering insights into stationary solutions and…
We consider a heterogeneous agent-based economic model where economic agents have strictly bounded rationality and where income allocation strategies evolve through selective imitation. Income is calculated by a Cobb-Douglas type production…
A dynamic model of the social relations between workers and capitalists is introduced. The model is deduced from the assumption that the law of value is an organising principle of modern economies. The model self-organises into a dynamic…
Using available data from the New York stock market (NYSM) we test four different bi-parametric models to fit the correspondent volume-price distributions at each $10$-minute lag: the Gamma distribution, the inverse Gamma distribution, the…
This paper derives "scaling laws"--empirical relationships between the training compute of Large Language Models (LLMs) and their performance--for economic outcomes. In a preregistered online experiment, 300 professional translators…
The article develops a general equilibrium model where power relations are central in the determination of unemployment, profitability, and income distribution. The paper contributes to the market forces versus institutions debate by…