Showing 1 - 10 of 13
Based on a classical financial market model different model variants known from the literature are discussed and analyzed, each focussing on modeling financial markets as a nonlinear dynamic system by introducing the formation of (heterogeneous) beliefs about future asset prices into the model...
Persistent link: https://www.econbiz.de/10009428980
Numerical weather forecast errors are generated by model deficiencies and by errors in the initial conditions which interact and grow nonlinearly. With recent progress in data assimilation, the accuracy in the initial conditions has been substantially improved so that accounting for systematic...
Persistent link: https://www.econbiz.de/10009450747
expensive. The polynomial chaos approach has been shown to be more efficient than Monte Carlo for quantifying the effects of … polynomial chaos theory for parameter estimation: a Bayesian approach, and an approach using an extended Kalman filter (EKF) to … obtain the polynomial chaos representation of the uncertain states and the uncertain parameters. The two methods are applied …
Persistent link: https://www.econbiz.de/10009457571
response by changing the slope of the demand schedule can thrust the model into instability, chaos, and extinction, without … via slope preserving increases in market demand can push the model into instability, chaos, and even extinction. Finally …, we show that similar adjustments in market demand may be capable of eliminating instability and chaos rooted in powerful …
Persistent link: https://www.econbiz.de/10009444668
significantly reduce uncertainty through traditional approaches may in part be explained by chaos theory. This paper defines … deterministic chaos and demonstrates that supply chains can display some of the key characteristics of chaotic systems, namely …: chaos exhibits sensitivity to initial conditions; it has Islands of Stability; generates patterns; invalidates the …
Persistent link: https://www.econbiz.de/10009463190
In this article, intraseasonal fishing is modeled as a differential game between fishers in a total allowable catch (TAC)–regulated fishery with and without individual fishing quotas (IFQs). Heterogeneous harvest values are included by incorporating time-specific harvest costs and a...
Persistent link: https://www.econbiz.de/10009442721
This paper develops a Trade Network Game (TNG) that combines evolutionary game play with endogenous partner selection. Resource-constrained buyers and sellers choose and refuse trade partners on the basis of continually updated expected payoffs. Partner selection takes place in accordance with a...
Persistent link: https://www.econbiz.de/10009443128
In scheduling a large number of user jobs for parallel execution on an open-resource grid system, the jobs are subject to system failures or delays caused by infected hardware, software vulnerability, and distrusted security policy. This paper models the risk and insecure conditions in grid job...
Persistent link: https://www.econbiz.de/10009471524
Warranty is an important element of marketing new products. The servicing of warranty results in additional costs to the manufacturer. Warranty logistics deals with various issues relating to the servicing of warranty. Proper management of warranty logistics is needed not only to reduce the...
Persistent link: https://www.econbiz.de/10009448246
The assumption in economics of a representative agent is often made. However, it is a very rigid assumption. Hall and Jones (2004b) presented an economic model that essentially provided for a representative agent for each age group in determining the group's health level function. Our work seeks...
Persistent link: https://www.econbiz.de/10009456722