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Economic complexity - a group of dimensionality-reduction methods that apply network science to trade data - represented a paradigm shift in development economics towards materializing the once-intangible concept of capabilities as…
From thermodynamics point of view, in this era of aiming at energy conservation and sustainability, we need to develop more accurate ways to design thermal power, cooling and heat pump cycles. It has been the general practice in…
This essay advocates the view that any problem that has a meaningful empirical content, can be formulated in constructive, more definitely, finite terms. We consider combinatorial models of dynamical systems and approaches to statistical…
Understanding the relationship between emerging technology and research and development has long been of interest to companies, policy makers and researchers. In this paper new sources of data and tools are combined with a novel technique…
An activity fundamental to science is building mathematical models. These models are used to both predict the results of future experiments and gain insight into the structure of the system under study. We present an algorithm that…
Human mobility in an urban area is complicated; the origins, destinations, and transport methods of each person differ. The quantitative description of urban human mobility has recently attracted the attention of researchers, and it highly…
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…
Standard economic theory uses mathematics as its main means of understanding, and this brings clarity of reasoning and logical power. But there is a drawback: algebraic mathematics restricts economic modeling to what can be expressed only…
A fundamental challenge for modern economics is to understand what happens when actors in an economy are replaced with algorithms. Like rationality has enabled understanding of outcomes of classical economic actors, no-regret can enable the…
The optimal control of a mechanical system is of crucial importance in many realms. Typical examples are the determination of a time-minimal path in vehicle dynamics, a minimal energy trajectory in space mission design, or optimal motion…
After the first lockdown in response to the COVID-19 outbreak, many countries faced difficulties in balancing infection control with economics. Due to limited prior knowledge, economists began researching this issue using cost-benefit…
Understanding the business cycle is crucial for building economic stability, guiding business planning, and informing investment decisions. The business cycle refers to the recurring pattern of expansion and contraction in economic activity…
A fundamental problem in quantum thermodynamics is to properly quantify the work extractable from out-of-equilibrium systems. While for closed systems, maximum quantum work extraction is defined in terms of the ergotropy functional, this…
Harnessing the demand-side flexibility in building and mobility sectors can help to better integrate renewable energy into power systems and reduce global CO2 emissions. Enabling this sector coupling can be achieved with advances in energy…
A new constructivist approach to modeling in economics and theory of consciousness is proposed. The state of elementary object is defined as a set of its measurable consumer properties. A proprietor's refusal or consent for the offered…
Stochastic thermodynamics as reviewed here systematically provides a framework for extending the notions of classical thermodynamics like work, heat and entropy production to the level of individual trajectories of well-defined…
This paper focuses on the coordination of a population of thermostatically controlled loads (TCLs) with unknown parameters to achieve group objectives. The problem involves designing the device bidding and market clearing strategies to…
The study aims to identify the institutional flaws of the current EU waste management model by analysing the economic model of extended producer responsibility and collective waste management systems and to create a model for measuring the…
We present the relatively less known thermodynamic concept of exergy in the context of ecology and sustainability. To this end, we first very briefly outline thermodynamics as it arose historically via engineering studies. This enables us…
Dynamic graph algorithms have seen significant theoretical advancements, but practical evaluations often lag behind. This work bridges the gap between theory and practice by engineering and empirically evaluating recently developed…