In 1949, A. W. H. (Bill) Phillips and Walter Newlyn designed and built an electro-hydraulic dynamic model of the macroeconomy of a country. It was the first analog computer to solve the nonlinear coupled differential equations of mid-twentieth century economic theory and led to the use of...

This paper compares retail and wholesale electricity prices in SEM, the market of the island of Ireland, and BETTA in Great Britain. Wholesale costs are much lower in BETTA. We show that this is mostly because the wholesale price in BETTA is set too low to cover generation costs, although it is...

Background: Over the last 20 years, process mining has become a vibrant research area due to the advances in data management technologies and techniques and the advent of new process mining tools. Recently, the links between process mining and simulation modelling have become an area of...

Nowadays, digitizing the data stream is enabling the evolution of logistics processes. The data-driven network logistics processes are evaluated by leading economic indicators. The purpose of this study is to further develop the algorithmic foundations of economic and mathematical modeling of...