For a given population with N — current and M — maximum number of entities, modeled by a Birth–Death Process (BDP) with size M+1, we introduce utilization parameter ρ, ratio of the primary birth and death rates in that BDP, which, physically, determines (equilibrium) macrostates of the...

This paper addresses a complex problem of finding optimal or suboptimal strategies and business decisions of (1) entrepreneurs, inventors, innovators, and other “economic actors” who are engaged, or want and can be engaged, in innovation activities, and (2) policymakers who want to secure...

Variance of exchange rates around predictions can be from 1) undiscovered fundamentals, 2) efficient markets, 3) destabilising speculation, or 4) regime and personality differences in the heuristics used in the stage of evaluating alternatives. Field and experimental evidence identifies 4) as...