Related papers: The Nexus between Dataization and Technological Pr…
The transient fluctuation of the prosperity of firms in a network economy is investigated with an abstract stochastic model. The model describes the profit which firms make when they sell materials to a firm which produces a product and the…
Our computational economic analysis investigates the relationship between inequality, mobility and the financial accumulation process. Extending the baseline model by Levy et al., we characterise the economic process through stylised return…
The term of big data was used since 1990s, but it became very popular around 2012. A recent definition of this term says that big data are information assets characterized by high volume, velocity, variety and veracity that need special…
Competition between traditional platforms is known to improve user utility by aligning the platform's actions with user preferences. But to what extent is alignment exhibited in data-driven marketplaces? To study this question from a…
Workflow technology is rapidly evolving and, rather than being limited to modeling the control flow in business processes, is becoming a key mechanism to perform advanced data management, such as big data analytics. This survey focuses on…
Widespread use of the Internet and social networks invokes the generation of big data, which is proving to be useful in a number of applications. To deal with explosively growing amounts of data, data analytics has emerged as a critical…
Labor share, the fraction of economic output accrued as wages, is inexplicably declining in industrialized countries. Whilst numerous prior works attempt to explain the decline via economic factors, our novel approach links the decline to…
The process of market digitization at the world level and the increasing and extended usage of digital devices reshaped the way consumers employ their leisure time, with the emergence of what can be called digital leisure. This new type of…
In this working paper, I developed a suite of macroeconomic models that shed light on the intricate relationship between economic development, health, and fertility. These innovative models conceptualize health as an intermediate good,…
With the booming economy in China, many researches have pointed out that the improvement of regional transportation infrastructure among other factors had an important effect on economic growth. Utilizing a large-scale dataset which…
This paper provides a systematic and critical review of the economics literature on data as an economic good and draws lessons for data governance. We conclude that focusing on data as an economic good in governance efforts is hardwired to…
Data-driven and adaptive control approaches face the problem of introducing sudden distributional shifts beyond the distribution of data encountered during learning. Therefore, they are prone to invalidating the very assumptions used in…
An important question that often arises in the operation of networked systems is whether to collect the real-time data or to estimate them based on the previously collected data. Various factors should be taken into account such as how…
Detailed study of the financial empirical correlation matrix of the 30 companies comprised by DAX within the period of the last 11 years, using the time-window of 30 trading days, is presented. This allows to clearly identify a nontrivial…
Artificial intelligence (AI) is advancing exponentially and is likely to have profound impacts on human wellbeing, social equity, and environmental sustainability. Here we argue that the "alignment problem" in AI research is also an…
We relate the information exchange between two stochastic systems to the nonequilibrium entropy production in the whole system. By deriving a general formula that decomposes the total entropy production into the thermodynamic and…
In this paper we are concerned with the learnability of energies from data obtained by observing time evolutions of their critical points starting at random initial equilibria. As a byproduct of our theoretical framework we introduce the…
Economic and financial networks play a crucial role in various important processes, including economic integration, globalization, and financial crises. Of particular interest is understanding whether the temporal evolution of a real…
Optimization and expansion are two modes of staged evolution of complex systems where macroscopic observables change at a decreasing, respectively increasing, rate. A prime example of evolutionary expansion, Gross Domestic Product (GDP)…
This paper presents a general theory that aims at explaining timescales observed empirically in technology transitions and predicting those of future transitions. This framework is used further to derive a theory for exploring the dynamics…