A modern market economy is an exceedingly complex, infinite-dimensional, stochastic dynamical system. The failure of mainstream economists to characterize its dynamics may well be due to its intractability. This paper argues that the characterization of its dynamics becomes almost trivial when...

Effective, strategic, current and operational management of modern logistics systems requires continuous monitoring and forecasting of their condition in many parameters. Especially these questions are critical in justifying the need for modernization or technical re-equipment of the logistics...

The rational inattention literature is split between two versions of the model: in one, mutual information of states and signals are bounded by a hard constraint, while, in the other, it appears as an additive term in the decision maker's utility function. The resulting constrained and...