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While mainstream economics assumes that firms are always on the production frontier, there is an evolutionary interpretation of competition according to which firms have different degrees of what Leibenstein (1964) called quot;X-efficiency,quot; and competition selects for higher X-efficiency....
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This paper is about a novel evolutionary theory of macroeconomics. The fundamental premise is that value and scarceness …. The theory is anchored in probability theory. The methods employed are logically deductive. Consistency of premises and … results as well as the eventual necessity of their fundamental symmetry has been deliberately pursued. The theory is universal …
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Site-adaptation corrects long-term satellite-derived solar irradiance datasets, which improve solar power system modeling by reducing the risks in performance estimation. This study begins with a data-efficient approach to probabilistic site-adaptation, using simple model averaging to quantify...
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