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Functions or 'functionings' enable to give a structure to any activity and their combinations constitute the capabilities which characterize economic assets such as work utility. The basic law of supply and demand naturally emerges from…
In this paper, we present a simple microeconomic model with linear continuous-time dynamics that describes a production-inventory system with debt repayment. This model is formulated in terms of optimal control and its exact solutions are…
Uncertainty is prevalent in engineering design, data-driven problems, and decision making broadly. Due to inherent risk-averseness and ambiguity about assumptions, it is common to address uncertainty by formulating and solving conservative…
In this paper, we consider a stochastic recursive optimal control problem under model uncertainty. In this framework, the cost function is described by solutions of a family of backward stochastic differential equations. With the help of…
The investigation of optimal processes has a long history in the field of thermodynamics. It is well known that finite-time processes that minimize dissipation often exhibit discontinuities. We use a combination of numerical and analytical…
Engineering Thermodynamics has been the core course of many science and engineering majors around the world, including energy and power, mechanical engineering, civil engineering, aerospace, cryogenic refrigeration, food engineering,…
Mobile robots are widely used to perform various technological operations in several sectors of the national economy. These operations are related to transporting goods and equipment, performing work to determine the condition of a…
The development of efficient and robust dynamic models is fundamental in the field of systems and control engineering. In this paper, a new formulation for the dynamic model of nonlinear mechanical systems, that can be applied to different…
Although the specific structures of electricity markets are diverse around the world, they were all conceived on the premise of predictable, controllable generation with nonnegligible marginal costs. Recent changes, specifically, the…
Optimal transport has become part of the standard quantitative economics toolbox. It is the framework of choice to describe models of matching with transfers, but beyond that, it allows to: extend quantile regression; identify discrete…
We consider approximation or recovery of functions based on a finite number of function evaluations. This is a well-studied problem in optimal recovery, machine learning, and numerical analysis in general, but many fundamental insights were…
An axiomatic approach to macroeconomics based on the mathematical structure of thermodynamics is presented. It deduces relations between aggregate properties of an economy, concerning quantities and flows of goods and money, prices and the…
The paper is devoted to the geometrical calibration of industrial robots employed in precise manufacturing. To identify geometric parameters, an advanced calibration technique is proposed that is based on the non-linear experiment design…
In economics, construction of perfect models in a way that would be comparable to the standards customary in physical sciences is generally not feasible. In particular, the observed value for an economic equilibrium may deviate…
Remanufacturing is fundamentally more challenging than traditional manufacturing due to the significant uncertainty, variability, and incompleteness inherent in end-of-life (EoL) products. At the same time, it has become increasingly…
The CAP theorem asserts a trilemma between consistency, availability, and partition tolerance. This paper introduces a rigorous automata-theoretic and economically grounded framework that reframes the CAP trade-off as a constraint…
Human mobility, enabled by diverse transportation modes, is fundamental to urban functionality. Studying these movements across scales-from microscopic to macroscopic-yields valuable insights into urban dynamics. Local adaptation and…
Rotation estimation plays a fundamental role in computer vision and robot tasks, and extremely robust rotation estimation is significantly useful for safety-critical applications. Typically, estimating a rotation is considered a non-linear…
Optimization plays a significant role in many areas of science and technology. Most of the industrial optimization problems have inordinately complex structures that render finding their global minima a daunting task. Therefore, designing…
Models that explain the economical and political realities of nowadays societies should help all the world's citizens. Yet, the last four years showed that the current models are missing. Here we develop a dynamical society-deciders model…