Download or read book System Theoretic Methods in Economic Modelling II written by S. Mittnik and published by Elsevier. This book was released on 2014-06-28 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: System-Theoretic Methods in Economic Modelling II complements the editor's earlier volume, bringing together current research efforts integrating system-theoretic concepts with economic modelling processes. The range of papers presented here goes beyond the long-accepted control-theoretic contributions in dynamic optimization and focuses on system-theoretic methods in the construction as well as the application stages of economic modelling. This volume initiates new and intensifies existing debate between researchers and practitioners within and across the disciplines involved, with the objective of encouraging interdisciplinary research. The papers are split into four sections - estimation, filtering and smoothing problems in the context of state space modelling; applying the state space concept to financial modelling; modelling rational expectation; and a miscellaneous section including a follow-up case study by Tse and Khilnani on their integrated system model for a fishery management process, which featured in the first volume.

Download or read book System Theoretic Methods in Economic Modelling I written by S. Mittnik and published by Elsevier. This book was released on 2014-06-28 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value of applying system-theoretic concepts to economic modelling problems arises from the fact that it offers a unifying framework for modelling dynamic systems. In addition to offering this powerful conceptual framework, it provides a wide range of tools useful in applied work. System-theoretic techniques enter predominantly two stages of economic modelling efforts: the stage of model construction and the stage of model application in accordance with the modelling. The objective of this and subsequent volumes on System-Theoretic Methods in Economic Modelling I is to initiate and/or intensify dialogues between researchers and practitioners within and across the disciplines involved. This first volume brings together papers exhibiting a wide range of system-theoretic techniques and applications to economic problems. The papers have been divided into two groups, following roughly--but not necessarily--the above classification into the construction and application stages of economic modelling. The papers in the first group focus on the identification of dynamic and static systems, while the papers in the second group address dynamic optimization problems.

Download or read book Economic Models written by Dipak R. Basu and published by World Scientific. This book was released on 2009 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Model Building is the most fruitful area of economics, designed to solve real-world problems using all available methods such as mathematical, computational and analytical, without distinction. Wherever necessary, we should not be reluctant to develop new techniques, whether mathematical or computational. That is the philosophy of this volume. The volume is divided into three distinct parts: Methods, Theory and Applications. The Methods section is in turn subdivided into Mathematical Programming and Econometrics and Adaptive Control System, which are widely used in econometric analysis. The impacts of fiscal policy in a regime with independent monetary authority and dynamic models of environmental taxation are considered. In the section on "Modelling Business Organization," a model of a Japanese organization is presented. Furthermore, a model suitable for an efficient budget management of a health service unit by applying goal programming method is analyzed, taking into account various socio-economic factors. This is followed by a section on "Modelling National Economies," in which macroeconometric models for the EU member countries are analyzed, to find instruments that stabilize inflation with coordinated action.

Download or read book Game Theory and Economic Modelling written by David M. Kreps and published by Oxford University Press. This book was released on 1990 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises lectures given at Tel Aviv University and Oxford University in 1990.

Download or read book Economic Model Predictive Control written by Matthew Ellis and published by Springer. This book was released on 2016-07-27 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents general methods for the design of economic model predictive control (EMPC) systems for broad classes of nonlinear systems that address key theoretical and practical considerations including recursive feasibility, closed-loop stability, closed-loop performance, and computational efficiency. Specifically, the book proposes: Lyapunov-based EMPC methods for nonlinear systems; two-tier EMPC architectures that are highly computationally efficient; and EMPC schemes handling explicitly uncertainty, time-varying cost functions, time-delays and multiple-time-scale dynamics. The proposed methods employ a variety of tools ranging from nonlinear systems analysis, through Lyapunov-based control techniques to nonlinear dynamic optimization. The applicability and performance of the proposed methods are demonstrated through a number of chemical process examples. The book presents state-of-the-art methods for the design of economic model predictive control systems for chemical processes.In addition to being mathematically rigorous, these methods accommodate key practical issues, for example, direct optimization of process economics, time-varying economic cost functions and computational efficiency. Numerous comments and remarks providing fundamental understanding of the merging of process economics and feedback control into a single framework are included. A control engineer can easily tailor the many detailed examples of industrial relevance given within the text to a specific application. The authors present a rich collection of new research topics and references to significant recent work making Economic Model Predictive Control an important source of information and inspiration for academics and graduate students researching the area and for process engineers interested in applying its ideas.

Download or read book Models and Methods in Multiple Criteria Decision Making written by G. Colson and published by Elsevier. This book was released on 2014-06-28 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is devoted to models and methods in multiple objectives decision making. The importance of the multiple dimensions of decision making was first recognised during the 1960s and since then progress has been made in that theoretical or application oriented contributions may now be categorized under two main headings:- Multiattribute Decision Making (MADM) which concerns the sorting, the ranking or the evaluation of objects of choice according to several criteria and Multiobjective Decision Making (MODM) which deals with the vector optimization in mathematical programming. The above are also presented in the context of various applications, namely banking, environment, health, manpower, media, portfolio and traffic control, resulting in a book for a wide variety of readers.

Download or read book Set Theoretic Methods in Control written by Franco Blanchini and published by Birkhäuser. This book was released on 2015-07-02 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this monograph describes the set-theoretic approach for the control and analysis of dynamic systems, both from a theoretical and practical standpoint. This approach is linked to fundamental control problems, such as Lyapunov stability analysis and stabilization, optimal control, control under constraints, persistent disturbance rejection, and uncertain systems analysis and synthesis. Completely self-contained, this book provides a solid foundation of mathematical techniques and applications, extensive references to the relevant literature, and numerous avenues for further theoretical study. All the material from the first edition has been updated to reflect the most recent developments in the field, and a new chapter on switching systems has been added. Each chapter contains examples, case studies, and exercises to allow for a better understanding of theoretical concepts by practical application. The mathematical language is kept to the minimum level necessary for the adequate formulation and statement of the main concepts, yet allowing for a detailed exposition of the numerical algorithms for the solution of the proposed problems. Set-Theoretic Methods in Control will appeal to both researchers and practitioners in control engineering and applied mathematics. It is also well-suited as a textbook for graduate students in these areas. Praise for the First Edition "This is an excellent book, full of new ideas and collecting a lot of diverse material related to set-theoretic methods. It can be recommended to a wide control community audience." - B. T. Polyak, Mathematical Reviews "This book is an outstanding monograph of a recent research trend in control. It reflects the vast experience of the authors as well as their noticeable contributions to the development of this field...[It] is highly recommended to PhD students and researchers working in control engineering or applied mathematics. The material can also be used for graduate courses in these areas." - Octavian Pastravanu, Zentralblatt MATH

Download or read book Mathematical System Theory written by Athanasios C. Antoulas and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 589 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past three decades R.E. Kalman has been one of the most influential personalities in system and control theory. His ideas have been instrumental in a variety of areas. This is a Festschrift honoring his 60th birthday. It contains contributions from leading researchers in the field giving an account of the profound influence of his ideas in a number of areas of active research in system and control theory. For example, since their introduction by Kalman in the early 60's, the concepts of controllability and observability of dynamical systems with inputs, have been the corner stone of the great majority of investigations in the field.

Download or read book Maximum Entropy and Bayesian Methods written by W.T. Grandy Jr. and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 10th International Workshop on Maximum Entropy and Bayesian Methods, MaxEnt 90, was held in Laramie, Wyoming from 30 July to 3 August 1990. This volume contains the scientific presentations given at that meeting. This series of workshops originated in Laramie in 1981, where the first three of what were to become annual workshops were held. The fourth meeting was held in Calgary. the fifth in Laramie, the sixth and seventh in Seattle, the eighth in Cambridge, England, and the ninth at Hanover, New Hampshire. It is most appropriate that the tenth workshop, occurring in the centennial year of Wyoming's statehood, was once again held in Laramie. The original purpose of these workshops was twofold. The first was to bring together workers from diverse fields of scientific research who individually had been using either some form of the maximum entropy method for treating ill-posed problems or the more general Bayesian analysis, but who, because of the narrow focus that intra-disciplinary work tends to impose upon most of us, might be unaware of progress being made by others using these same techniques in other areas. The second was to introduce to those who were somewhat aware of maximum entropy and Bayesian analysis and wanted to learn more, the foundations, the gestalt, and the power of these analyses. To further the first of these ends, presenters at these workshops have included workers from area. s as varied as astronomy, economics, environmenta.

Download or read book Dynamic Policy Games in Economics written by F. van der Ploeg and published by Elsevier. This book was released on 2014-06-28 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this volume is to consider intertemporal and strategic issues in the formulation of economic policy so that dynamic game methodology is appropriate. When changes in economic policy are evaluated the reactions and expectations of other economic agents cannot be ignored, and in a dynamic setting issues like time inconsistency, subgame perfectness, reputation and information become important.The papers contained in this volume are the revised versions of those presented at a conference held in 1988 at Tilburg University, The Netherlands. They include methodological contributions and strategic analyses of macroeconomic policy, resource economics, international policy coordination and the arms race.

Download or read book Decision Modelling for Health Economic Evaluation written by Andrew Briggs and published by OUP Oxford. This book was released on 2006-08-17 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: In financially constrained health systems across the world, increasing emphasis is being placed on the ability to demonstrate that health care interventions are not only effective, but also cost-effective. This book deals with decision modelling techniques that can be used to estimate the value for money of various interventions including medical devices, surgical procedures, diagnostic technologies, and pharmaceuticals. Particular emphasis is placed on the importance of the appropriate representation of uncertainty in the evaluative process and the implication this uncertainty has for decision making and the need for future research. This highly practical guide takes the reader through the key principles and approaches of modelling techniques. It begins with the basics of constructing different forms of the model, the population of the model with input parameter estimates, analysis of the results, and progression to the holistic view of models as a valuable tool for informing future research exercises. Case studies and exercises are supported with online templates and solutions. This book will help analysts understand the contribution of decision-analytic modelling to the evaluation of health care programmes. ABOUT THE SERIES: Economic evaluation of health interventions is a growing specialist field, and this series of practical handbooks will tackle, in-depth, topics superficially addressed in more general health economics books. Each volume will include illustrative material, case histories and worked examples to encourage the reader to apply the methods discussed, with supporting material provided online. This series is aimed at health economists in academia, the pharmaceutical industry and the health sector, those on advanced health economics courses, and health researchers in associated fields.

Download or read book Evolutionary Theories of Economic and Technological Change written by (Pier) Paolo Saviotti and published by Routledge. This book was released on 2018-03-29 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, evolutionary theories of economic and technological change have attracted a considerable amount of attention which reflects the problems encountered by mainstream analysis of dynamic phenomena and quantitative change. This book, originally published in 1991, develops the debate and draws on the concepts of evolutionary biology, nonequilibrium thermodynamics, systems and organization theory. While recognizing that new technology is not the cause of quantitative change, the editors claim it should play a more central role in economic theory and policy. At the same time, the ground is laid for a more generalized concept of innovation and experimentation and their relation to routine activities. The book is intended for economists.

Download or read book Maximum Entropy and Bayesian Methods Garching Germany 1998 written by Wolfgang von der Linden and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1978 Edwin T. Jaynes and Myron Tribus initiated a series of workshops to exchange ideas and recent developments in technical aspects and applications of Bayesian probability theory. The first workshop was held at the University of Wyoming in 1981 organized by C.R. Smith and W.T. Grandy. Due to its success, the workshop was held annually during the last 18 years. Over the years, the emphasis of the workshop shifted gradually from fundamental concepts of Bayesian probability theory to increasingly realistic and challenging applications. The 18th international workshop on Maximum Entropy and Bayesian Methods was held in Garching / Munich (Germany) (27-31. July 1998). Opening lectures by G. Larry Bretthorst and by Myron Tribus were dedicated to one of th the pioneers of Bayesian probability theory who died on the 30 of April 1998: Edwin Thompson Jaynes. Jaynes revealed and advocated the correct meaning of 'probability' as the state of knowledge rather than a physical property. This inter pretation allowed him to unravel longstanding mysteries and paradoxes. Bayesian probability theory, "the logic of science" - as E.T. Jaynes called it - provides the framework to make the best possible scientific inference given all available exper imental and theoretical information. We gratefully acknowledge the efforts of Tribus and Bretthorst in commemorating the outstanding contributions of E.T. Jaynes to the development of probability theory.

Download or read book Applications of Computer Aided Time Series Modeling written by Masanao Aoki and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book consists of three parts: Part One is composed of two introductory chapters. The first chapter provides an instrumental varible interpretation of the state space time series algorithm originally proposed by Aoki (1983), and gives an introductory account for incorporating exogenous signals in state space models. The second chapter, by Havenner, gives practical guidance in apply ing this algorithm by one of the most experienced practitioners of the method. Havenner begins by summarizing six reasons state space methods are advanta geous, and then walks the reader through construction and evaluation of a state space model for four monthly macroeconomic series: industrial production in dex, consumer price index, six month commercial paper rate, and money stock (Ml). To single out one of the several important insights in modeling that he shares with the reader, he discusses in Section 2ii the effects of sampling er rors and model misspecification on successful modeling efforts. He argues that model misspecification is an important amplifier of the effects of sampling error that may cause symplectic matrices to have complex unit roots, a theoretical impossibility. Correct model specifications increase efficiency of estimators and often eliminate this finite sample problem. This is an important insight into the positive realness of covariance matrices; positivity has been emphasized by system engineers to the exclusion of other methods of reducing sampling error and alleviating what is simply a finite sample problem. The second and third parts collect papers that describe specific applications.

Download or read book Economic Dynamics second edition written by John Stachurski and published by MIT Press. This book was released on 2022-08-16 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of a rigorous and example-driven introduction to topics in economic dynamics that emphasizes techniques for modeling dynamic systems. This text provides an introduction to the modern theory of economic dynamics, with emphasis on mathematical and computational techniques for modeling dynamic systems. Written to be both rigorous and engaging, the book shows how sound understanding of the underlying theory leads to effective algorithms for solving real-world problems. The material makes extensive use of programming examples to illustrate ideas, bringing to life the abstract concepts in the text. Key topics include algorithms and scientific computing, simulation, Markov models, and dynamic programming. Part I introduces fundamentals and part II covers more advanced material. This second edition has been thoroughly updated, drawing on recent research in the field. New for the second edition: “Programming-language agnostic” presentation using pseudocode. New chapter 1 covering conceptual issues concerning Markov chains such as ergodicity and stability. New focus in chapter 2 on algorithms and techniques for program design and high-performance computing. New focus on household problems rather than optimal growth in material on dynamic programming. Solutions to many exercises, code, and other resources available on a supplementary website.

Download or read book MANAGERIAL ECONOMICS Third Edition written by NADAR, E. NARAYANAN and published by PHI Learning Pvt. Ltd.. This book was released on 2020-06-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managerial Economics has assumed a predominant role in today's globalized and liberalized economy because of the financial implications of many decisions that a manager has to take in his day-to-day professional life. This comprehensive and student-friendly book strives to equip the young, practising and budding managers to find solutions to the real-world problems through the efficient and effective use of economic tools and techniques. The authors who admirably combine academic and professional experience give a clear and straightforward analysis of the various topics in managerial economics. The text begins with an overview of managerial economics and describes the modern business firm and its objectives along with the concepts of market mechanism, demand theory and production analysis. The text then moves further to explain managerial techniques, macroeconomic theory and international trade and finance along with the risks and uncertainties involved in business. Besides, it also explains the cost and revenue, supply, pricing, profit and investment analyses. Finally, this book discusses some important Case Studies to reinforce the concepts presented in the text. The third edition of the book comprises multiple choice questions (with answers) at the end of each chapter to test the understanding of the concepts discussed in the chapter. Besides, the objectives, strategies and initiatives of the twelfth five year plan (2012–2017) of Planning Commission as well as a new section on Replacement of Indian Planning Commission with NITI Aayog have been incorporated in the chapter on Macroeconomic Analysis. Intended as a text for postgraduate students of Management, Commerce and Economics, the book would also be useful for undergraduate engineering courses where Managerial Economics is offered. Finally, the book can be profitably used by marketing and management consultants, business executives and other related professionals. KEY FEATURES • Includes several simple, numerical examples with solutions for easy understanding of theory. • Contains a large number of tables and figures to illustrate the concepts. • Provides chapter-end exercises to check students' comprehension of the subject. TARGET AUDIENCE • MBA • M.Com • M.A. Economics

Download or read book Formal Theories of Politics written by P. E. Johnson and published by Elsevier. This book was released on 2014-06-28 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Formal Theories of Politics demonstrates the role of formal mathematical models in political science, and aims to convey a sense of the questions and methods which govern the political science research agenda. While there is still much interest in empirical patterns of voting behaviour and public opinion data, there has been substantial growth in emphasis on mathematical theory as a technique for the derivation of testable hypotheses. Topics discussed include: optimal candidate strategies and equilibria in competitive elections; voting agendas and parliamentary procedure in the multidimensional events; revolution, repression and inequality as outputs of dynamics systems. The mathematical techniques are widely varied, including game theory, functional analysis, differential equations, expert systems, stochastic processes and statistical models.