Different approaches for gas path performance estimation of dynamic systems are commonly used, the most common being the variants of the Kalman filter. The extended Kalman filter (EKF) method is a popular approach for nonlinear systems which combines the traditional Kalman filtering and...

Динамические модели, рассматриваемые в этой работе, охватывают широкий класс моделей, возникающих при исследовании реальных экономических и...

Динамические модели, рассматриваемые в этой работе, охватывают широкий класс моделей, возникающих при исследовании реальных экономических и...

This paper analyzes the impact of economic prospects on one’s time preference. Research in psychol- ogy has shown how individuals modify their preferences in order to reduce their cognitive dissonance, which is the uncomfortable tension felt when simultaneously holding conflicting thoughts. It...

The paper describes the microeconomic trade-off between prices, savings on purchases, and the time horizon of the consumption-leisure choice during the search for different products. When marginal costs of the search are equal to its marginal benefit, the time of search is proportional to...

The better the model, the more features of the problem it explains. However, showing that the model has similarities to that of a phenomena is often less significant in applications due to lack of data. Forecasting, as special application of modelling, is neither an exception: besides...

Economies are evolving, complex, adaptive dynamic systems. Yet, economics is committed to a methodology that is quite different from that of other fields, such as ecology or brain research or computer science, in which such systems are studied. Computable economics attempts to reorient economics...

Governance in organizations according to traditionalagency theory is based on the premise that managersand employees do not have identical goals. As aconsequence, employees need to be monitored andcontrolled. If legal contracts are not sufficient forproper control, incentive contracts should be...

Economies are evolving, complex, adaptive dynamic systems. Yet, economics is committed to a methodology that is quite different from that of other fields, such as ecology or brain research or computer science, in which such systems are studied. Computable economics attempts to reorient economics...

We consider a representative investor whose wealth is made up of the equity market portfolio and the riskless asset, and who maximizes the expected utility of his/her future wealth for a given horizon. The solution of this program shows that the equilibrium value of the equity risk premium –...