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Economic Models and Human Behavior:The Tension Between Mathematics and Reality
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作者 SUN Tian 《Management Studies》 2024年第5期331-334,共4页
The use of mathematical models in economics has long been a subject of debate,particularly regarding the tension between mathematical precision and the unpredictability of human behavior.This paper critically examines... The use of mathematical models in economics has long been a subject of debate,particularly regarding the tension between mathematical precision and the unpredictability of human behavior.This paper critically examines the limitations of over-relying on mathematical models to predict economic outcomes,arguing that such models often fail to account for the social,cultural,and psychological factors that drive economic activities.The analysis highlights how attempts to quantify complex economic behaviors may lead to oversimplifications and inaccurate forecasts,as illustrated by past financial crises and market disruptions.The paper concludes by advocating for a more balanced approach that combines mathematical rigor with an understanding of human behavior to enhance the accuracy and effectiveness of economic predictions. 展开更多
关键词 economic models mathematical precision human behavior
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Reverse Engineering, Some Board Games as a Key to the Development of Artificial Intelligence and Construction of Economic Models 被引量:1
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作者 Ewa Drabik 《Economics World》 2018年第2期121-132,共12页
Reverse engineering, also called back engineering, is the process of extracting knowledge or designing information from anything: mechanical device electronic components, computer programs, or biological, chemical ma... Reverse engineering, also called back engineering, is the process of extracting knowledge or designing information from anything: mechanical device electronic components, computer programs, or biological, chemical matters, and--subsequently--analyzing its components. Reverse engineering can be applied for the sake of creating artificial intelligence, e.g. when the used methods are based on very old games, such as Go and chess. Many generations of computers are able to play at the same level as human grandmasters. A computers' arrival at that level is due to imitation of human Go or chess play. A particular emphasis shall be placed upon the Go game, known for 5,500 years. Invented in China, it may be classified as the oldest board game, having its ardent enthusiasts until present times. Old physical issues can be easily projected upon the modeling of new economic phenomena and quantum games. The aim of this paper is to discuss the applications of reverse engineering, traditional social games and other domains, such as quantum physics, to the analysis of utterly new social as well as economic phenomena. 展开更多
关键词 reverse engineering category theory quantum games social games modelling of economic phenomena
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Demographic Influences on Digital Cultural Engagement and Economic Innovation Awareness:An Empirical Investigation
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作者 Yan Kan Yu 《Management Studies》 2025年第4期168-179,共12页
This study examines how demographic factors shape engagement with virtual cultural communities and awareness of emerging economic models.Using survey data from 202 participants,descriptive statistics,independent sampl... This study examines how demographic factors shape engagement with virtual cultural communities and awareness of emerging economic models.Using survey data from 202 participants,descriptive statistics,independent samples t-tests,and One-way Analysis of Variance(ANOVA)with Least Significant Difference(LSD)post-hoc analyses revealed significant influences of age,education,and occupation.No significant gender differences were found.Individuals aged 26-45 demonstrated higher virtual community participation(F=3.439,p=0.01)and emerging model awareness(F=2.834,p=0.026)than younger cohorts(18-25 years and below).Respondents with postgraduate education exhibited superior understanding of emerging economic models(F=3.296,p=0.022)and their nexus with cultural values(F=6.196,p<0.001)compared to those with lower educational attainment.Significant occupational variations existed in virtual participation(F=4.001,p=0.008)and economic model awareness(F=5.611,p=0.001),with enterprise employees and civil servants scoring higher than students and freelancers.These findings underscore the critical roles of life stage,educational investment,and professional context in shaping digital cultural behaviors and economic cognition,offering valuable insights for platform design,educational strategies,and policy development in the digital cultural economy. 展开更多
关键词 virtual cultural communities emerging economic models cultural values demographic factors digital engagement economic awareness ANOVA
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An Inspiring Economic Model
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作者 CUI XIAOQIN 《ChinAfrica》 2025年第9期19-21,共3页
On the opening day of the third China International Supply Chain Expo in Beijing on 16 July,one pavilion stood out by drawing special attention from visitors including representatives from the International Automobile... On the opening day of the third China International Supply Chain Expo in Beijing on 16 July,one pavilion stood out by drawing special attention from visitors including representatives from the International Automobile Federation,global and domestic tech giants like Siemens and CATL,as well as businesspeople from countries like Saudi Arabia,Germany,and Mexico. 展开更多
关键词 supply chain catl economic model china tech giants BUSINESSPEOPLE SIEMENS supply chain expo
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Critical Analysis of Increasingly Mathematical Economics in the Modern Society
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作者 YU Renze 《Management Studies》 2024年第4期248-251,共4页
This paper critically examines the escalating trend of mathematization in economics,highlighting its implications and controversies in contemporary economic research.While the application of sophisticated mathematical... This paper critically examines the escalating trend of mathematization in economics,highlighting its implications and controversies in contemporary economic research.While the application of sophisticated mathematical models and statistical techniques has enhanced the precision,rigor,and status of economics within academia and practical application,concerns arise regarding the potential oversimplification and detachment from real-world complexities.The adoption of mathematical tools has arguably led to a focus on theoretically tractable problems at the expense of those more relevant to practical economic and social issues.This paper explores both the benefits and limitations of this trend,discussing how the reliance on quantitative methods affects the innovation,comprehensibility,and application of economic theories.We argue for a balanced approach that fosters innovation by integrating qualitative insights and embracing interdisciplinary methods to ensure economics remains both rigorous and relevant to societal needs. 展开更多
关键词 mathematization of economics quantitative methods economic models interdisciplinary integration
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Virtually coupled train set control subject to space-time separation:A distributed economic MPC approach with emergency braking configuration 被引量:1
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作者 Xiaolin Luo Tao Tang +1 位作者 Le Wang Hongjie Liu 《High-Speed Railway》 2024年第3期143-152,共10页
The emerging virtual coupling technology aims to operate multiple train units in a Virtually Coupled Train Set(VCTS)at a minimal but safe distance.To guarantee collision avoidance,the safety distance should be calcula... The emerging virtual coupling technology aims to operate multiple train units in a Virtually Coupled Train Set(VCTS)at a minimal but safe distance.To guarantee collision avoidance,the safety distance should be calculated using the state-of-the-art space-time separation principle that separates the Emergency Braking(EB)trajectories of two successive units during the whole EB process.In this case,the minimal safety distance is usually numerically calculated without an analytic formulation.Thus,the constrained VCTS control problem is hard to address with space-time separation,which is still a gap in the existing literature.To solve this problem,we propose a Distributed Economic Model Predictive Control(DEMPC)approach with computation efficiency and theoretical guarantee.Specifically,to alleviate the computation burden,we transform implicit safety constraints into explicitly linear ones,such that the optimal control problem in DEMPC is a quadratic programming problem that can be solved efficiently.For theoretical analysis,sufficient conditions are derived to guarantee the recursive feasibility and stability of DEMPC,employing compatibility constraints,tube techniques and terminal ingredient tuning.Moreover,we extend our approach with globally optimal and distributed online EB configuration methods to shorten the minimal distance among VCTS.Finally,experimental results demonstrate the performance and advantages of the proposed approaches. 展开更多
关键词 Virtually coupled train set Space-time separation economic model predictive control Distributed model predictive control Emergency braking configuration
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Construction of Alternatives for Stochastic Choice Models:Reflections From Choice Experiments on Diabetic Markets 被引量:1
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作者 Christine C.Huttin 《Management Studies》 2024年第6期368-378,共11页
According to design theories,alternatives result from a construct;it can be from an analyst or decision makers and stakeholders.The generation of alternatives for the development of an economic model on medical market... According to design theories,alternatives result from a construct;it can be from an analyst or decision makers and stakeholders.The generation of alternatives for the development of an economic model on medical markets was initiated with academic researchers,since medical and economic investigators also advised medical policies,especially at the time of the study on policy options to address shortages of critical drugs and to provide recommendations on controversial drugs in the TZD class.Global pharmaceutical pricing models have been so far driven by big life science companies in interaction with governments;the most common models discussed at a global level come from neo classical economic theory with adjustments of market prices,use of differentiated pricing to take into account adjustment of prices with GNPs differences or reference pricing to adjust access to consumers(e.g.in EU countries);other proposals include peak load pricing such as in Telecommunications.However,changes in international relation policies require now additional alternatives and objectives in a multi-stakeholder world for global health policies,the engagement of powerful non-state players,and the role of social medias into politics.In EWG-MCDA meeting at West Attica(Athens,2024),it was proposed to use a C-K design framework to expand policy alternatives,using expansion of the concept space,especially for a cost sharing research agenda;after the recent communications at Euro and ADA conferences in July 2024,this paper proposes some advances for the general framework involving the South and North Hemispheres,and addressing common issues on major diseases such as diabetes. 展开更多
关键词 global pharmaceuticals pricing economic modelling C-K design theory policy analytics cost sharing research
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Information Models for Forecasting Nonlinear Economic Dynamics in the Digital Era
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作者 Askar Akaev Viktor Sadovnichiy 《Applied Mathematics》 2021年第3期171-208,共38页
The aim of this study was to develop an adequate mathematical model for long-term forecasting of technological progress and economic growth in the digital age (2020-2050). In addition, the task was to develop a model ... The aim of this study was to develop an adequate mathematical model for long-term forecasting of technological progress and economic growth in the digital age (2020-2050). In addition, the task was to develop a model for forecast calculations of labor productivity in the symbiosis of “man + intelligent machine”, where an intelligent machine (IM) is understood as a computer or robot equipped with elements of artificial intelligence (AI), as well as in the digital economy as a whole. In the course of the study, it was shown that in order to implement its goals the Schumpeter-Kondratiev innovation and cycle theory on forming long waves (LW) of economic development influenced by a powerful cluster of economic technologies engendered by industrial revolutions is most appropriate for a long-term forecasting of technological progress and economic growth. The Solow neoclassical model of economic growth, synchronized with LW, gives the opportunity to forecast economic dynamics of technologically advanced countries with a greater precision up to 30 years, the time which correlates with the continuation of LW. In the information and digital age, the key role among the main factors of growth (capital, labour and technological progress) is played by the latter. The authors have developed an information model which allows for forecasting technological progress basing on growth rates of endogenous technological information in economics. The main regimes of producing technological information, corresponding to the eras of information and digital economies, are given in the article, as well as the Lagrangians that engender them. The model is verified on the example of the 5<sup>th</sup> information LW for the US economy (1982-2018) and it has had highly accurate approximation for both technological progress and economic growth. A number of new results were obtained using the developed information models for forecasting technological progress. The forecasting trajectory of economic growth of developed countries (on the example of the USA) on the upward stage of the 6<sup>th</sup> LW (2018-2042), engendered by the digital technologies of the 4<sup>th</sup> Industrial Revolution is given. It is also demonstrated that the symbiosis of human and intelligent machine (IM) is the driving force in the digital economy, where man plays the leading role organizing effective and efficient mutual work. Authors suggest a mathematical model for calculating labour productivity in the digital economy, where the symbiosis of “human + IM” is widely used. The calculations carried out with the help of the model show: 1) the symbiosis of “human + IM” from the very beginning lets to realize the possibilities of increasing work performance in the economy with the help of digital technologies;2) the largest labour productivity is achieved in the symbiosis of “human + IM”, where man labour prevails, and the lowest labour productivity is seen where the largest part of the work is performed by IM;3) developed countries may achieve labour productivity of 3% per year by the mid-2020s, which has all the chances to stay up to the 2040s. 展开更多
关键词 The Schumpeter-Kondratiev Innovation and Cycle Theory of economic Development The Solow Neoclassical Model of economic Growth Information Model of Technological Progress Symbiosis of “Human + Intelligent Machine” Labour Productivity in the Symbiosis of “Human + IM” and the Digital Economy
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Theory of Economic Life Prediction and Reliability Assessment of Aircraft Structures 被引量:40
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作者 YAN Chuliang LIU Kege 《Chinese Journal of Aeronautics》 SCIE EI CAS CSCD 2011年第2期164-170,共7页
The theory of economic life prediction and reliability assessment of aircraft structures has a significant effect on safety of air-craft structures.It is based on the two-stage theory of fatigue process and can guaran... The theory of economic life prediction and reliability assessment of aircraft structures has a significant effect on safety of air-craft structures.It is based on the two-stage theory of fatigue process and can guarantee the safety and reliability of structures.According to the fatigue damage process,the fatigue scatter factors of crack initiation stage and crack propagation stage are given respectively.At the same time,mathematical models of fatigue life prediction are presented by utilizing the fatigue scatter factors and full scale test results of aircraft structures.Furthermore,the economic life model is put forward.The model is of sig-nificant scientific value for products to provide longer economic life,higher reliability and lower cost.The theory of economic life prediction and reliability assessment of aircraft structures has been successfully applied to determining and extending the structural life for thousands of airplanes. 展开更多
关键词 life prediction model of economic life fatigue scatter factor full scale test RELIABILITY
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Optimal dispatching method for integrated energy system based on robust economic model predictive control considering source-load power interval prediction 被引量:5
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作者 Yang Yu Jiali Li Dongyang Chen 《Global Energy Interconnection》 EI CAS CSCD 2022年第5期564-578,共15页
Effective source-load prediction and reasonable dispatching are crucial to realize the economic and reliable operations of integrated energy systems(IESs).They can overcome the challenges introduced by the uncertainti... Effective source-load prediction and reasonable dispatching are crucial to realize the economic and reliable operations of integrated energy systems(IESs).They can overcome the challenges introduced by the uncertainties of new energies and various types of loads in the IES.Accordingly,a robust optimal dispatching method for the IES based on a robust economic model predictive control(REMPC)strategy considering source-load power interval prediction is proposed.First,an operation model of the IES is established,and an interval prediction model based on the bidirectional long short-term memory network optimized by beetle antenna search and bootstrap is formulated and applied to predict the photovoltaic power and the cooling,heating,and electrical loads.Then,an optimal dispatching scheme based on REMPC is devised for the IES.The source-load interval prediction results are used to improve the robustness of the REPMC and reduce the influence of source-load uncertainties on dispatching.An actual IES case is selected to conduct simulations;the results show that compared with other prediction techniques,the proposed method has higher prediction interval coverage probability and prediction interval normalized averaged width.Moreover,the operational cost of the IES is decreased by the REMPC strategy.With the devised dispatching scheme,the ability of the IES to handle the dispatching risk caused by prediction errors is enhanced.Improved dispatching robustness and operational economy are also achieved. 展开更多
关键词 Integrated energy system Source-load uncertainty Interval prediction Robust economic model predictive control Optimal dispatching.
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Multiobjective economic model predictive control using utopia-tracking for the wet flue gas desulphurization system 被引量:2
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作者 Shan Liu Wenqi Zhong +2 位作者 Xi Chen Li Sun Lukuan Yang 《Chinese Journal of Chemical Engineering》 SCIE EI CAS CSCD 2023年第2期343-352,共10页
Efficient control of the desulphurization system is challenging in maximizing the economic objective while reducing the SO_(2) emission concentration. The conventional optimization method is generally based on a hiera... Efficient control of the desulphurization system is challenging in maximizing the economic objective while reducing the SO_(2) emission concentration. The conventional optimization method is generally based on a hierarchical structure in which the upper optimization layer calculates the steady-state results and the lower control layer is responsible to drive the process to the target point. However, the conventional hierarchical structure does not take the economic performance of the dynamic tracking process into account. To this end, multi-objective economic model predictive control(MOEMPC) is introduced in this paper, which unifies the optimization and control layers in a single stage. The objective functions are formulated in terms of a dynamic horizon and to balance the stability and economic performance. In the MOEMPC scheme, economic performance and SO_(2) emission performance are guaranteed by tracking a set of utopia points during dynamic transitions. The terminal penalty function and stabilizing constraint conditions are designed to ensure the stability of the system. Finally, an optimized control method for the stable operation of the complex desulfurization system has been established. Simulation results demonstrate that MOEMPC is superior over another control strategy in terms of economic performance and emission reduction, especially when the desulphurization system suffers from frequent flue gas disturbances. 展开更多
关键词 Desulphurization system economics economic model predictive control Flue gas Optimization Utopia point
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A Two-Sector Economic Growth Model with Labor Force Transfer 被引量:1
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作者 Cai Dong\|han, Zhou Ming\|chun School of Mathematics and Statistics, Wuhan University , Wuhan 430072, Hubei, China 《Wuhan University Journal of Natural Sciences》 CAS 2003年第03A期769-774,共6页
In this paper, a two\|sector growth model is given. The labor force transfer process from agricultural sector to industrial sector is exogenous determined. By introducing the labor force transferring function, a two\|... In this paper, a two\|sector growth model is given. The labor force transfer process from agricultural sector to industrial sector is exogenous determined. By introducing the labor force transferring function, a two\|dimension nonautonomous differential equation is obtained. The results of the model manifest that the labor force transfer delays industrial sector growth and accelerates the agricultural sector growth. It is proved that the solution of the model is asymptotic stable. By the numerical analysis, the economic growth and labor force transfer is presented under the specific parameters. 展开更多
关键词 two\|sector economic growth model labor force transfer asymptotic stability
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Impact of openness, economic policy reform and regional shocks on trade and growth of Thailand: An econometric study 被引量:1
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作者 Thanet Wattanakul 《Chinese Business Review》 2009年第1期17-30,共14页
Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalizatio... Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms (ICSEAD, 2006) have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory (Tran Van Hoa, 2004) is used to develop a simple flexible simultaneous-equation econometric model of Thailand's openness model with its seven major trade partners (ASEAN-4, Australia, the USA, the EU, China, Japan and India). Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications. 展开更多
关键词 trade and investment liberalization regional economic integration free trade agreements trade and growth causality generalized gravity theory modelling economic and trade policy
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Resource Schedule in Grid Based on Market Models
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作者 王大震 祝烈煌 宋瀚涛 《Journal of Beijing Institute of Technology》 EI CAS 2004年第S1期36-40,共5页
A new modern resource management method based on economic model is proposed. Giving mathematic description about economic model; analysis different resource scheduling methods based on deadline and budget constrained ... A new modern resource management method based on economic model is proposed. Giving mathematic description about economic model; analysis different resource scheduling methods based on deadline and budget constrained which present by Buyya, point out shortcoming of Buyya's schedule method. Considerate integrate factor of time and budget, by import a weight coefficient named a , puts forward a new resource schedule method named STPP based on economic models of Buyya. Contrast to old schedule strategy of Buyya through analysis and experiments, STPP policy is more flexible, and is easy to import other new QoS parameters. 展开更多
关键词 economic model resource schedule grid resource provider: STPP PRICE
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Fractional Order Environmental and Economic Model Investigations Using Artificial Neural Network
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作者 Wajaree Weera Chantapish Zamart +5 位作者 Zulqurnain Sabir Muhammad Asif Zahoor Raja Afaf S.Alwabli S.R.Mahmoud Supreecha Wongaree Thongchai Botmart 《Computers, Materials & Continua》 SCIE EI 2023年第1期1735-1748,共14页
The motive of these investigations is to provide the importance and significance of the fractional order(FO)derivatives in the nonlinear environmental and economic(NEE)model,i.e.,FO-NEE model.The dynamics of the NEE m... The motive of these investigations is to provide the importance and significance of the fractional order(FO)derivatives in the nonlinear environmental and economic(NEE)model,i.e.,FO-NEE model.The dynamics of the NEE model achieves more precise by using the form of the FO derivative.The investigations through the non-integer and nonlinear mathematical form to define the FO-NEE model are also provided in this study.The composition of the FO-NEEmodel is classified into three classes,execution cost of control,system competence of industrial elements and a new diagnostics technical exclusion cost.The mathematical FO-NEE system is numerically studied by using the artificial neural networks(ANNs)along with the Levenberg-Marquardt backpropagation method(ANNs-LMBM).Three different cases using the FO derivative have been examined to present the numerical performances of the FO-NEE model.The data is selected to solve the mathematical FO-NEE system is executed as 70%for training and 15%for both testing and certification.The exactness of the proposed ANNs-LMBM is observed through the comparison of the obtained and the Adams-Bashforth-Moulton database results.To ratify the aptitude,validity,constancy,exactness,and competence of the ANNs-LMBM,the numerical replications using the state transitions,regression,correlation,error histograms and mean square error are also described. 展开更多
关键词 Environmental and economic model artificial neural networks fractional order NONLINEAR Levenberg-Marquardt backpropagation
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Finite-time economic model predictive control for optimal load dispatch and frequency regulation in interconnected power systems
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作者 Yubin Jia Tengjun Zuo +3 位作者 Yaran Li Wenjun Bi Lei Xue Chaojie Li 《Global Energy Interconnection》 EI CSCD 2023年第3期355-362,共8页
This paper presents a finite-time economic model predictive control(MPC)algorithm that can be used for frequency regulation and optimal load dispatch in multi-area power systems.Economic MPC can be used in a power sys... This paper presents a finite-time economic model predictive control(MPC)algorithm that can be used for frequency regulation and optimal load dispatch in multi-area power systems.Economic MPC can be used in a power system to ensure frequency stability,real-time economic optimization,control of the system and optimal load dispatch from it.A generalized terminal penalty term was used,and the finite-time convergence of the system was guaranteed.The effectiveness of the proposed model predictive control algorithm was verified by simulating a power system,which had two areas connected by an AC tie line.The simulation results demonstrated the effectiveness of the algorithm. 展开更多
关键词 economic model predictive control Finite-time convergence Optimal load dispatch Frequency stability
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