Using the new data from the OECD-WTO world network of economic activities we construct the Google matrix $G$ of this directed network and perform its detailed analysis. The network contains 58 countries and 37 activity sectors for years 1995, 2000, 2005, 2008, 2009. The construction of $G$, based on…
The advent of artificial intelligence has changed many disciplines such as engineering, social science and economics. Artificial intelligence is a computational technique which is inspired by natural intelligence such as the swarming of birds, the working of the brain and the pathfinding of the ants…
In [1] we presented a model for transactions when goods are given away in the expectation of a later settlement. In settings where people keep track of their social accounts we were able to redefine concepts like account balance, yield curve and the law of diminishing returns. In this paper we estab…
Most people are risk-averse (risk-seeking) when they expect to gain (lose). Based on a generalization of ``expected utility theory'' which takes this into account, we introduce an automaton mimicking the dynamics of economic operations. Each operator is characterized by a parameter q which gauges pe…
If a cat, a cannonball, and an economics textbook are all dropped from the same height, they fall to the ground with exactly the same acceleration under the influence of gravity. This equality of gravitational accelerations of different things is one of the most accurately tested laws of physics. Th…
This chapter provides a concise survey on different dissipativity conditions that have appeared in the literature on economic model predictive control and discusses their decisive role in this context.…
This paper examines the time series properties of cryptocurrency assets, such as Bitcoin, using established econometric inference techniques, namely models of the GARCH family. The contribution of this study is twofold. I explore the time series properties of cryptocurrencies, a new type of financia…
Let $\mathbb{Q}$ and $\mathbb{P}$ be equivalent probability measures and let $ψ$ be a $J$-dimensional vector of random variables such that $\frac{d\mathbb{Q}}{d\mathbb{P}}$ and $ψ$ are defined in terms of a weak solution $X$ to a $d$-dimensional stochastic differential equation. Motivated by the p…
The number, importance, and popularity of rankings measuring innovation performance and the strength and resources of ecosystems that provide its spatial framework are on an increasing trend globally. In addition to influencing the specific decisions taken by economic actors, these rankings signific…
Assessments of impacts of climate change and future projections over the Indian region, have so far relied on a single regional climate model (RCM) - eg., the PRECIS RCM of the Hadley Centre, UK. While these assessments have provided inputs to various reports (e.g., INCCA 2010; NATCOMM2 2012), it is…