In this paper we present a formal definition of the notions of economic regime and regime dynamics. Starting from these definitions, we discuss a multiple regime dynamic model generating an endogenous unemployment-price adjustment mechanism. Two different employment regimes are introduced and...

Consider an experiment in which subjects are asked to choose between pairs consisting of a monetary payment and a time-delay at which the payment is delivered. Given a finite set of observations, under what conditions the choices of an individual agent can be rationalised by a discounted utility...

The e-business ecosystem generates pressure on modern companies to invest massively in technologies that can bring them into the digital world of business-to-business collaboration. In their race to become a player of the global information system, companies have accumulated many layers of...

Linear Methods are often used to compute approximate solutions to dynamic models, as these models often cannot be solved analytically. Linear methods are very popular, as they can easily be implemented. Also, they provide a useful starting point for understanding more elaborate numerical...

Finitely additive supermartingale, a concept originally due to Bochner, is revived to study measure decompositions over filtered probability spaces. We obtain versions of the Doob Meyer decomposition for finitely additive and classical supermartingales in a rather general context. Also we obtain...

In this paper we review the literature on multi-component maintenance models with economic dependence. The emphasis is on papers that appeared after 1991, but there is an overlap with Section 2 of the most recent review paper by Cho and Parlar (1991). The classification scheme that we choose is...

In this paper we extend the multi-regime framework to variables involved in the debate on economic growth and environmental quality, starting from a reexamination of the so-called Environmental Kuznets Curve. The aim is to discuss the double convergence hypothesis that implicitly stems from a...

Dynamic Programming (DP) is a useful but complex process of solving a management-related optimisation problem. Because of the complexity, especially in the Varying Input-Output Model (VIOM), many are very reluctant to teach and learn this topic, even at the tertiary education level. One of the...

The research problem is about to generate artificial fractal landscape surfaces from the Digital Elevation Model (DEM) using a stochastic algorithm by Geographic Resources Analysis Support System Geographic Information System (GRASS GIS) software. Fractal surfaces resemble appearance of natural...

In the given research we study a leadership formation of the most influential nodes in networks. Specifically, we analyze the competition between a leader and a follower based on the Stackelberg leadership model. Applying the concept of Shapley value to measure node’s importance, we represent...