Related papers: Economic Policy Taxonomy
Generalized linear and additive models are very efficient regression tools but the selection of relevant terms becomes difficult if higher order interactions are needed. In contrast, tree-based methods also known as recursive partitioning…
In economic theory, an agent chooses from available alternatives -- modeled as a set. In decisions in the field or in the lab, however, agents do not have access to the set of alternatives at once. Instead, alternatives are represented by…
Many economic activities are embedded in networks: sets of agents and the (often) rivalrous relationships connecting them to one another. Input sourcing by firms, interbank lending, scientific research, and job search are four examples,…
To promote sustainable business practices, and to achieve climate neutrality by 2050, the EU has developed the taxonomy of sustainable activities, which describes when exactly business practices can be considered sustainable. While the…
This paper presents a method for incorporating risk aversion into existing decision tree models used in economic evaluations. The method involves applying a probability weighting function based on rank dependent utility theory to reduced…
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…
Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any…
Research on the role of Large Language Models (LLMs) in business models and services is limited. Previous studies have utilized econometric models, technical showcases, and literature reviews. However, this research is pioneering in its…
Economic growth is often associated with diversification of economic activities. Making a product in a country is dependent on having, and acquiring, the capabilities needed to make the product, making the process path-dependent. We derive…
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…
Standard methods of using categorical variables as predictors either endow them with an ordinal structure or assume they have no structure at all. However, categorical variables often possess structure that is more complicated than a linear…
Within the growing domain of software engineering in the automotive sector, the number of used tools, processes, methods and languages has increased distinctly in the past years. To be able to choose proper methods for particular…
The Big Data is the most popular paradigm nowadays and it has almost no untouched area. For instance, science, engineering, economics, business, social science, and government. The Big Data are used to boost up the organization performance…
In recent years, methods from network science are gaining rapidly interest in economics and finance. A reason for this is that in a globalized world the interconnectedness among economic and financial entities are crucial to understand and…
The increasing complexity of data requires methods and models that can effectively handle intricate structures, as simplifying them would result in loss of information. While several analytical tools have been developed to work with complex…
Behavior trees represent a hierarchical and modular way of combining several low-level control policies into a high-level task-switching policy. Hybrid dynamical systems can also be seen in terms of task switching between different…
In this paper we extend PALPS, a process calculus proposed for the spatially-explicit individual-based modeling of ecological systems, with the notion of a policy. A policy is an entity for specifying orderings between the different…
The proposed framework introduces a novel multidimensional representation of money using tensor analysis, enabling a more granular examination of economic interactions and capital flow. By treating money as a multidimensional entity, this…
Policy tree search is a family of tree search algorithms that use a policy to guide the search. These algorithms provide guarantees on the number of expansions required to solve a given problem that are based on the quality of the policy.…
An array system of coupled maps is proposed as a model for economy evolution. The local dynamics of each map or agent is controlled by two parameters. One of them represents the growth capacity of the agent and the other one is a control…