Related papers: New Demand Economics
In this paper, we study multi-agent systems with decentralized resource allocations. Agents have local demand and resource supply, and are interconnected through a network designed to support sharing of the local resource; and the network…
This paper introduces the concept of Engineering Economy as a new paradigm for understanding and managing macroeconomic policy in middle-income countries seeking to escape the middle-income trap. Drawing on Turkiye's post-2001 economic…
Teachers hold a prominent place in modern societies, particularly where education is compulsory and widely institutionalized. This ubiquity obscures an underlying question: why do societies designate certain individuals exclusively for the…
This study delves into the origins of excess capacity by examining the reactions of capital, labor, and capital intensity. To achieve this, we have employed a novel three-layered production function model, estimating the elasticity of…
This paper builds a rule for decisionmaking from the physical behavior of single neurons, the well established neural circuitry of mutual inhibition, and the evolutionary principle of natural selection. No axioms are used in the derivation…
Modern ecology has re-emphasized the need for a quantitative understanding of the original 'survival of the fittest theme' based on analyzis of the intricate trade-offs between competing evolutionary strategies that characterize the…
Modern recommender systems lie at the heart of complex ecosystems that couple the behavior of users, content providers, advertisers, and other actors. Despite this, the focus of the majority of recommender research -- and most practical…
Economic withholding in electricity markets refers to generators bidding higher than their true marginal fuel cost, and is a typical approach to exercising market power. However, existing market designs require storage to design bids…
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,…
The Triple Helix of university-industry-government relations is elaborated into a systemic model that accounts for interactions among three dimensions. By distinguishing between the respective micro-operations, this model enables us to…
Our infrastructure systems enable our well-being by allowing us to move, store, and transform materials and information given considerable social and environmental variation. Critically, this ability is shaped by the degree to which society…
Generative AI has transformed the economics of information production, making explanations, proofs, examples, and analyses available at very low cost. Yet the value of information still depends on whether downstream users can absorb and act…
The last few years have witnessed rapid growth in the on-demand delivery market, with many start-ups entering the field. However, not all of these start-ups have succeeded due to various reasons, among others, not being able to establish a…
In this paper, I endeavour to construct a new model, by extending the classic exogenous economic growth model by including a measurement which tries to explain and quantify the size of technological innovation ( A ) endogenously. I do not…
The "social-networking revolution" of late (e.g., with the advent of social media, Facebook, and the like) has been propelling the crusade to elucidate the embedded networks that underlie economic activity. An unexampled synthesis of…
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…
We introduce and discuss a system of one-dimensional kinetic equations describing the influence of higher education in the social stratification of a multi-agent society. The system is obtained by coupling a model for knowledge formation…
The following measures against unemployment are proposed: In the short term, to promote greater income for the poorest sectors. It is shown that this can be paid with the resulting increased production, without losing income to the other…
We analyze export data aggregated at world global level of 219 classes of products over a period of 39 years. Our main goal is to set up a dynamical model to identify and quantify plausible mechanisms by which the evolutions of the various…
This paper develops a theory of competitive equilibrium with indivisible goods based entirely on economic conditions on demand. The key idea is to analyze complementarity and substitutability between bundles of goods, rather than merely…