WorldWideScience

Sample records for sophisticated economic model

  1. The value of multivariate model sophistication

    DEFF Research Database (Denmark)

    Rombouts, Jeroen; Stentoft, Lars; Violante, Francesco

    2014-01-01

    We assess the predictive accuracies of a large number of multivariate volatility models in terms of pricing options on the Dow Jones Industrial Average. We measure the value of model sophistication in terms of dollar losses by considering a set of 444 multivariate models that differ in their spec....... In addition to investigating the value of model sophistication in terms of dollar losses directly, we also use the model confidence set approach to statistically infer the set of models that delivers the best pricing performances.......We assess the predictive accuracies of a large number of multivariate volatility models in terms of pricing options on the Dow Jones Industrial Average. We measure the value of model sophistication in terms of dollar losses by considering a set of 444 multivariate models that differ...

  2. The predictors of economic sophistication: media, interpersonal communication and negative economic experiences

    NARCIS (Netherlands)

    Kalogeropoulos, A.; Albæk, E.; de Vreese, C.H.; van Dalen, A.

    2015-01-01

    In analogy to political sophistication, it is imperative that citizens have a certain level of economic sophistication, especially in times of heated debates about the economy. This study examines the impact of different influences (media, interpersonal communication and personal experiences) on

  3. A Proposal for More Sophisticated Normative Principles in Introductory Economics

    Science.gov (United States)

    Schmidt, Stephen

    2017-01-01

    Introductory textbooks teach a simple normative story about the importance of maximizing economic surplus that supports common policy claims. There is little defense of the claim that maximizing surplus is normatively important, which is not obvious to non-economists. Difficulties with the claim that society should maximize surplus are generally…

  4. SMEs and new ventures need business model sophistication

    DEFF Research Database (Denmark)

    Kesting, Peter; Günzel-Jensen, Franziska

    2015-01-01

    , and Spreadshirt, this article develops a framework that introduces five business model sophistication strategies: (1) uncover additional functions of your product, (2) identify strategic benefits for third parties, (3) take advantage of economies of scope, (4) utilize cross-selling opportunities, and (5) involve...

  5. The Impact of Services on Economic Complexity: Service Sophistication as Route for Economic Growth.

    Science.gov (United States)

    Stojkoski, Viktor; Utkovski, Zoran; Kocarev, Ljupco

    2016-01-01

    Economic complexity reflects the amount of knowledge that is embedded in the productive structure of an economy. By combining tools from network science and econometrics, a robust and stable relationship between a country's productive structure and its economic growth has been established. Here we report that not only goods but also services are important for predicting the rate at which countries will grow. By adopting a terminology which classifies manufactured goods and delivered services as products, we investigate the influence of services on the country's productive structure. In particular, we provide evidence that complexity indices for services are in general higher than those for goods, which is reflected in a general tendency to rank countries with developed service sector higher than countries with economy centred on manufacturing of goods. By focusing on country dynamics based on experimental data, we investigate the impact of services on the economic complexity of countries measured in the product space (consisting of both goods and services). Importantly, we show that diversification of service exports and its sophistication can provide an additional route for economic growth in both developing and developed countries.

  6. Impact of sophisticated fog spray models on accident analyses

    International Nuclear Information System (INIS)

    Roblyer, S.P.; Owzarski, P.C.

    1978-01-01

    The N-Reactor confinement system release dose to the public in a postulated accident is reduced by washing the confinement atmosphere with fog sprays. This allows a low pressure release of confinement atmosphere containing fission products through filters and out an elevated stack. The current accident analysis required revision of the CORRAL code and other codes such as CONTEMPT to properly model the N Reactor confinement into a system of multiple fog-sprayed compartments. In revising these codes, more sophisticated models for the fog sprays and iodine plateout were incorporated to remove some of the conservatism of steam condensing rate, fission product washout and iodine plateout than used in previous studies. The CORRAL code, which was used to describe the transport and deposition of airborne fission products in LWR containment systems for the Rasmussen Study, was revised to describe fog spray removal of molecular iodine (I 2 ) and particulates in multiple compartments for sprays having individual characteristics of on-off times, flow rates, fall heights, and drop sizes in changing containment atmospheres. During postulated accidents, the code determined the fission product removal rates internally rather than from input decontamination factors. A discussion is given of how the calculated plateout and washout rates vary with time throughout the analysis. The results of the accident analyses indicated that more credit could be given to fission product washout and plateout. An important finding was that the release of fission products to the atmosphere and adsorption of fission products on the filters were significantly lower than previous studies had indicated

  7. Particle tracking in sophisticated CAD models for simulation purposes

    International Nuclear Information System (INIS)

    Sulkimo, J.; Vuoskoski, J.

    1995-01-01

    The transfer of physics detector models from computer aided design systems to physics simulation packages like GEANT suffers from certain limitations. In addition, GEANT is not able to perform particle tracking in CAD models. We describe an application which is able to perform particle tracking in boundary models constructed in CAD systems. The transfer file format used is the new international standard, STEP. The design and implementation of the application was carried out using object-oriented techniques. It will be integrated in the future object-oriented version of GEANT. (orig.)

  8. Particle tracking in sophisticated CAD models for simulation purposes

    Science.gov (United States)

    Sulkimo, J.; Vuoskoski, J.

    1996-02-01

    The transfer of physics detector models from computer aided design systems to physics simulation packages like GEANT suffers from certain limitations. In addition, GEANT is not able to perform particle tracking in CAD models. We describe an application which is able to perform particle tracking in boundary models constructed in CAD systems. The transfer file format used is the new international standard, STEP. The design and implementation of the application was carried out using object-oriented techniques. It will be integrated in the future object-oriented version of GEANT.

  9. Simplicity, inference and modelling: keeping it sophisticatedly simple

    National Research Council Canada - National Science Library

    Zellner, Arnold; Keuzenkamp, Hugo A; McAleer, Michael

    2001-01-01

    .... What is meant by simplicity? How is simplicity measured? Is there an optimum trade-off between simplicity and goodness-of-fit? What is the relation between simplicity and empirical modelling? What is the relation between simplicity and prediction? What is the connection between simplicity and convenience? The book concludes with reflect...

  10. The Value of Multivariate Model Sophistication: An Application to pricing Dow Jones Industrial Average options

    DEFF Research Database (Denmark)

    Rombouts, Jeroen V.K.; Stentoft, Lars; Violante, Francesco

    innovation for a Laplace innovation assumption improves the pricing in a smaller way. Apart from investigating directly the value of model sophistication in terms of dollar losses, we also use the model condence set approach to statistically infer the set of models that delivers the best pricing performance.......We assess the predictive accuracy of a large number of multivariate volatility models in terms of pricing options on the Dow Jones Industrial Average. We measure the value of model sophistication in terms of dollar losses by considering a set 248 multivariate models that differer...

  11. Does a more sophisticated storm erosion model improve probabilistic erosion estimates?

    NARCIS (Netherlands)

    Ranasinghe, R.W.M.R.J.B.; Callaghan, D.; Roelvink, D.

    2013-01-01

    The dependency between the accuracy/uncertainty of storm erosion exceedance estimates obtained via a probabilistic model and the level of sophistication of the structural function (storm erosion model) embedded in the probabilistic model is assessed via the application of Callaghan et al.'s (2008)

  12. Sophisticated Players and Sophisticated Agents

    NARCIS (Netherlands)

    Rustichini, A.

    1998-01-01

    A sophisticated player is an individual who takes the action of the opponents, in a strategic situation, as determined by decision of rational opponents, and acts accordingly. A sophisticated agent is rational in the choice of his action, but ignores the fact that he is part of a strategic

  13. Exploring the predictive power of interaction terms in a sophisticated risk equalization model using regression trees.

    Science.gov (United States)

    van Veen, S H C M; van Kleef, R C; van de Ven, W P M M; van Vliet, R C J A

    2018-02-01

    This study explores the predictive power of interaction terms between the risk adjusters in the Dutch risk equalization (RE) model of 2014. Due to the sophistication of this RE-model and the complexity of the associations in the dataset (N = ~16.7 million), there are theoretically more than a million interaction terms. We used regression tree modelling, which has been applied rarely within the field of RE, to identify interaction terms that statistically significantly explain variation in observed expenses that is not already explained by the risk adjusters in this RE-model. The interaction terms identified were used as additional risk adjusters in the RE-model. We found evidence that interaction terms can improve the prediction of expenses overall and for specific groups in the population. However, the prediction of expenses for some other selective groups may deteriorate. Thus, interactions can reduce financial incentives for risk selection for some groups but may increase them for others. Furthermore, because regression trees are not robust, additional criteria are needed to decide which interaction terms should be used in practice. These criteria could be the right incentive structure for risk selection and efficiency or the opinion of medical experts. Copyright © 2017 John Wiley & Sons, Ltd.

  14. Relative cue encoding in the context of sophisticated models of categorization: Separating information from categorization.

    Science.gov (United States)

    Apfelbaum, Keith S; McMurray, Bob

    2015-08-01

    Traditional studies of human categorization often treat the processes of encoding features and cues as peripheral to the question of how stimuli are categorized. However, in domains where the features and cues are less transparent, how information is encoded prior to categorization may constrain our understanding of the architecture of categorization. This is particularly true in speech perception, where acoustic cues to phonological categories are ambiguous and influenced by multiple factors. Here, it is crucial to consider the joint contributions of the information in the input and the categorization architecture. We contrasted accounts that argue for raw acoustic information encoding with accounts that posit that cues are encoded relative to expectations, and investigated how two categorization architectures-exemplar models and back-propagation parallel distributed processing models-deal with each kind of information. Relative encoding, akin to predictive coding, is a form of noise reduction, so it can be expected to improve model accuracy; however, like predictive coding, the use of relative encoding in speech perception by humans is controversial, so results are compared to patterns of human performance, rather than on the basis of overall accuracy. We found that, for both classes of models, in the vast majority of parameter settings, relative cues greatly helped the models approximate human performance. This suggests that expectation-relative processing is a crucial precursor step in phoneme categorization, and that understanding the information content is essential to understanding categorization processes.

  15. >From naive to sophisticated behavior in multiagents-based financial market models

    Science.gov (United States)

    Mansilla, R.

    2000-09-01

    The behavior of physical complexity and mutual information function of the outcome of a model of heterogeneous, inductive rational agents inspired by the El Farol Bar problem and the Minority Game is studied. The first magnitude is a measure rooted in the Kolmogorov-Chaitin theory and the second a measure related to Shannon's information entropy. Extensive computer simulations were done, as a result of which, is proposed an ansatz for physical complexity of the type C(l)=lα and the dependence of the exponent α from the parameters of the model is established. The accuracy of our results and the relationship with the behavior of mutual information function as a measure of time correlation of agents choice are discussed.

  16. A sophisticated cad tool for the creation of complex models for electromagnetic interaction analysis

    Science.gov (United States)

    Dion, Marc; Kashyap, Satish; Louie, Aloisius

    1991-06-01

    This report describes the essential features of the MS-DOS version of DIDEC-DREO, an interactive program for creating wire grid, surface patch, and cell models of complex structures for electromagnetic interaction analysis. It uses the device-independent graphics library DIGRAF and the graphics kernel system HALO, and can be executed on systems with various graphics devices. Complicated structures can be created by direct alphanumeric keyboard entry, digitization of blueprints, conversion form existing geometric structure files, and merging of simple geometric shapes. A completed DIDEC geometric file may then be converted to the format required for input to a variety of time domain and frequency domain electromagnetic interaction codes. This report gives a detailed description of the program DIDEC-DREO, its installation, and its theoretical background. Each available interactive command is described. The associated program HEDRON which generates simple geometric shapes, and other programs that extract the current amplitude data from electromagnetic interaction code outputs, are also discussed.

  17. Building Models in the Classroom: Taking Advantage of Sophisticated Geomorphic Numerical Tools Using a Simple Graphical User Interface

    Science.gov (United States)

    Roy, S. G.; Koons, P. O.; Gerbi, C. C.; Capps, D. K.; Tucker, G. E.; Rogers, Z. A.

    2014-12-01

    Sophisticated numerical tools exist for modeling geomorphic processes and linking them to tectonic and climatic systems, but they are often seen as inaccessible for users with an exploratory level of interest. We have improved the accessibility of landscape evolution models by producing a simple graphics user interface (GUI) that takes advantage of the Channel-Hillslope Integrated Landscape Development (CHILD) model. Model access is flexible: the user can edit values for basic geomorphic, tectonic, and climate parameters, or obtain greater control by defining the spatiotemporal distributions of those parameters. Users can make educated predictions by choosing their own parametric values for the governing equations and interpreting the results immediately through model graphics. This method of modeling allows users to iteratively build their understanding through experimentation. Use of this GUI is intended for inquiry and discovery-based learning activities. We discuss a number of examples of how the GUI can be used at the upper high school, introductory university, and advanced university level. Effective teaching modules initially focus on an inquiry-based example guided by the instructor. As students become familiar with the GUI and the CHILD model, the class can shift to more student-centered exploration and experimentation. To make model interpretations more robust, digital elevation models can be imported and direct comparisons can be made between CHILD model results and natural topography. The GUI is available online through the University of Maine's Earth and Climate Sciences website, through the Community Surface Dynamics Modeling System (CSDMS) model repository, or by contacting the corresponding author.

  18. Models of Economic Analysis

    OpenAIRE

    Adrian Ioana; Tiberiu Socaciu

    2013-01-01

    The article presents specific aspects of management and models for economic analysis. Thus, we present the main types of economic analysis: statistical analysis, dynamic analysis, static analysis, mathematical analysis, psychological analysis. Also we present the main object of the analysis: the technological activity analysis of a company, the analysis of the production costs, the economic activity analysis of a company, the analysis of equipment, the analysis of labor productivity, the anal...

  19. In Praise of the Sophists.

    Science.gov (United States)

    Gibson, Walker

    1993-01-01

    Discusses the thinking of the Greek Sophist philosophers, particularly Gorgias and Protagoras, and their importance and relevance for contemporary English instructors. Considers the problem of language as signs of reality in the context of Sophist philosophy. (HB)

  20. Economic communication model set

    Science.gov (United States)

    Zvereva, Olga M.; Berg, Dmitry B.

    2017-06-01

    This paper details findings from the research work targeted at economic communications investigation with agent-based models usage. The agent-based model set was engineered to simulate economic communications. Money in the form of internal and external currencies was introduced into the models to support exchanges in communications. Every model, being based on the general concept, has its own peculiarities in algorithm and input data set since it was engineered to solve the specific problem. Several and different origin data sets were used in experiments: theoretic sets were estimated on the basis of static Leontief's equilibrium equation and the real set was constructed on the basis of statistical data. While simulation experiments, communication process was observed in dynamics, and system macroparameters were estimated. This research approved that combination of an agent-based and mathematical model can cause a synergetic effect.

  1. Do sophisticated epistemic beliefs predict meaningful learning? Findings from a structural equation model of undergraduate biology learning

    Science.gov (United States)

    Lee, Silvia Wen-Yu; Liang, Jyh-Chong; Tsai, Chin-Chung

    2016-10-01

    This study investigated the relationships among college students' epistemic beliefs in biology (EBB), conceptions of learning biology (COLB), and strategies of learning biology (SLB). EBB includes four dimensions, namely 'multiple-source,' 'uncertainty,' 'development,' and 'justification.' COLB is further divided into 'constructivist' and 'reproductive' conceptions, while SLB represents deep strategies and surface learning strategies. Questionnaire responses were gathered from 303 college students. The results of the confirmatory factor analysis and structural equation modelling showed acceptable model fits. Mediation testing further revealed two paths with complete mediation. In sum, students' epistemic beliefs of 'uncertainty' and 'justification' in biology were statistically significant in explaining the constructivist and reproductive COLB, respectively; and 'uncertainty' was statistically significant in explaining the deep SLB as well. The results of mediation testing further revealed that 'uncertainty' predicted surface strategies through the mediation of 'reproductive' conceptions; and the relationship between 'justification' and deep strategies was mediated by 'constructivist' COLB. This study provides evidence for the essential roles some epistemic beliefs play in predicting students' learning.

  2. Modeling recent economic debates

    Science.gov (United States)

    Skiadas, Christos H.

    The previous years' disaster in the stock markets all over the world and the resulting economic crisis lead to serious criticisms of the various models used. It was evident that large fluctuations and sudden losses may occur even in the case of a well organized and supervised context as it looks to be the European Union. In order to explain the economic systems, we explore models of interacting and conflicting populations. The populations are conflicting into the same environment (a Stock Market or a Group of Countries as the EU). Three models where introduced 1) the Lotka-Volterra 2) the Lanchester or the Richardson model and 3) a new model for two conflicting populations. These models assume immediate interaction between the two conflicting populations. This is usually not the case in a stock market or between countries as delays in the information process arise. The main rules present include mutual interaction between adopters, potential adopters, word-of-mouth communication and of course by taking into consideration the innovation diffusion process. In a previous paper (Skiadas, 2010 [9]) we had proposed and analyzed a model including mutual interaction with delays due to the innovation diffusion process. The model characteristics where expressed by third order terms providing four characteristic symmetric stationary points. In this paper we summarize the previous results and we analyze the case of a non-symmetric case where the leading part receives the information immediately while the second part receives the information following a delay mechanism due to the innovation diffusion process (the spread of information) which can be expressed by a third order term. In the later case the non-symmetric process leads to gains of the leading part while the second part oscillates between gains and losses during time.

  3. Economic Modelling in Institutional Economic Theory

    Directory of Open Access Journals (Sweden)

    Wadim Strielkowski

    2017-06-01

    Full Text Available Our paper is centered around the formation of theory of institutional modelling that includes principles and ideas reflecting the laws of societal development within the framework of institutional economic theory. We scrutinize and discuss the scientific principles of this institutional modelling that are increasingly postulated by the classics of institutional theory and find their way into the basics of the institutional economics. We propose scientific ideas concerning the new innovative approaches to institutional modelling. These ideas have been devised and developed on the basis of the results of our own original design, as well as on the formalisation and measurements of economic institutions, their functioning and evolution. Moreover, we consider the applied aspects of the institutional theory of modelling and employ them in our research for formalizing our results and maximising the practical outcome of our paper. Our results and findings might be useful for the researchers and stakeholders searching for the systematic and comprehensive description of institutional level modelling, the principles involved in this process and the main provisions of the institutional theory of economic modelling.

  4. Critical confrontation of standard and more sophisticated methods for modelling the dispersion in air of heavy gas clouds; evaluation and illustration of the intrinsic limitations of both categories

    International Nuclear Information System (INIS)

    Riethmuller, M.L.

    1983-01-01

    Mathematical models of gas dispersion have evolved drastically since the 1930's. For a long time, the most widely used approach was the so-called Gaussian model as described in practical terms by Turner or box models which have shown relative merits. In the field of heavy gas dispersion, the use of such approaches appeared somewhat limited and therefore new models have been proposed. Some of these new generation models were making use of the latest progress in turbulence modelling as derived from laboratory work as well as numerical advances. The advent of faster and larger computers made possible the development of three dimensional codes that were computing both flow field and gas dispersion taking into account details of the ground obstacles, heat exchange and possibly phase changes as well. The description of these new types of models makes them appear as a considerable improvement over the simpler approaches. However, recent comparisons between many of these have led to the conclusion that the scatter between predictions attained with sophisticated models was just as large as with other ones. It seems therefore, that current researchers might have fallen into the trap of confusing mathematical precision with accuracy. It is therefore felt necessary to enlighten this question by an investigation which, rather than comparing individual models, would analyse the key features of both approaches and put in evidence their relative merits and degree of realism when being really applied

  5. Macro-economic environmental models

    International Nuclear Information System (INIS)

    Wier, M.

    1993-01-01

    In the present report, an introduction to macro-economic environmental models is given. The role of the models as a tool for policy analysis is discussed. Future applications, as well as the limitations given by the data, are brought into focus. The economic-ecological system is described. A set of guidelines for implementation of the system in a traditional economic macro-model is proposed. The characteristics of empirical national and international environmental macro-economic models so far are highlighted. Special attention is paid to main economic causalities and their consequences for the environmental policy recommendations sat by the models. (au) (41 refs.)

  6. Cumulative Dominance and Probabilistic Sophistication

    NARCIS (Netherlands)

    Wakker, P.P.; Sarin, R.H.

    2000-01-01

    Machina & Schmeidler (Econometrica, 60, 1992) gave preference conditions for probabilistic sophistication, i.e. decision making where uncertainty can be expressed in terms of (subjective) probabilities without commitment to expected utility maximization. This note shows that simpler and more general

  7. Sophisticating a naive Liapunov function

    International Nuclear Information System (INIS)

    Smith, D.; Lewins, J.D.

    1985-01-01

    The art of the direct method of Liapunov to determine system stability is to construct a suitable Liapunov or V function where V is to be positive definite (PD), to shrink to a center, which may be conveniently chosen as the origin, and where V is the negative definite (ND). One aid to the art is to solve an approximation to the system equations in order to provide a candidate V function. It can happen, however, that the V function is not strictly ND but vanishes at a finite number of isolated points. Naively, one anticipates that stability has been demonstrated since the trajectory of the system at such points is only momentarily tangential and immediately enters a region of inward directed trajectories. To demonstrate stability rigorously requires the construction of a sophisticated Liapunov function from what can be called the naive original choice. In this paper, the authors demonstrate the method of perturbing the naive function in the context of the well-known second-order oscillator and then apply the method to a more complicated problem based on a prompt jump model for a nuclear fission reactor

  8. Economic Growth Models Transition

    Directory of Open Access Journals (Sweden)

    Coralia Angelescu

    2006-03-01

    Full Text Available The transitional recession in countries of Eastern Europe has been much longer than expected. The legacy and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economics have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. Over the past few years, most candidate countries have made progress in the transition to a competitive market economy, macroeconomic stabilization and structural reform. However their income levels have remained far below those in the Member States. Measured by per capita income in purchasing power standards, there has been a very limited amount of catching up over the past fourteen years. Prior, the distinctions between Solow-Swan model and endogenous growth model. The interdependence between transition and integration are stated in this study. Finally, some measures of macroeconomic policy for sustainable growth are proposed in correlation with real macroeconomic situation of the Romanian economy. Our study would be considered the real convergence for the Romanian economy and the recommendations for the adequate policies to achieve a fast real convergence and sustainable growth.

  9. Economic Growth Models Transition

    Directory of Open Access Journals (Sweden)

    Coralia Angelescu

    2006-01-01

    Full Text Available The transitional recession in countries of Eastern Europe has been much longer than expected. The legacy and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economics have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. Over the past few years, most candidate countries have made progress in the transition to a competitive market economy, macroeconomic stabilization and structural reform. However their income levels have remained far below those in the Member States. Measured by per capita income in purchasing power standards, there has been a very limited amount of catching up over the past fourteen years. Prior, the distinctions between Solow-Swan model and endogenous growth model. The interdependence between transition and integration are stated in this study. Finally, some measures of macroeconomic policy for sustainable growth are proposed in correlation with real macroeconomic situation of the Romanian economy. Our study would be considered the real convergence for the Romanian economy and the recommendations for the adequate policies to achieve a fast real convergence and sustainable growth.

  10. Economic analysis model for total energy and economic systems

    International Nuclear Information System (INIS)

    Shoji, Katsuhiko; Yasukawa, Shigeru; Sato, Osamu

    1980-09-01

    This report describes framing an economic analysis model developed as a tool of total energy systems. To prospect and analyze future energy systems, it is important to analyze the relation between energy system and economic structure. We prepared an economic analysis model which was suited for this purpose. Our model marks that we can analyze in more detail energy related matters than other economic ones, and can forecast long-term economic progress rather than short-term economic fluctuation. From view point of economics, our model is longterm multi-sectoral economic analysis model of open Leontief type. Our model gave us appropriate results for fitting test and forecasting estimation. (author)

  11. Firm dynamic analysis for urban land use and economic growth modelling

    NARCIS (Netherlands)

    Che'Man, N.; Sabri, S.; Hosni, N.; Timmermans, H.J.P.

    2013-01-01

    In urban growth processes, urbanisation is highly influenced by economic growth which triggers the dynamics of economic agents and land uses. This is consisted of complex subsystems which need sophisticated methods like agent-based modelling and simulation to understand the pattern, behaviour and

  12. Cognitive Load and Strategic Sophistication

    OpenAIRE

    Allred, Sarah; Duffy, Sean; Smith, John

    2013-01-01

    We study the relationship between the cognitive load manipulation and strategic sophistication. The cognitive load manipulation is designed to reduce the subject's cognitive resources that are available for deliberation on a choice. In our experiment, subjects are placed under a large cognitive load (given a difficult number to remember) or a low cognitive load (given a number which is not difficult to remember). Subsequently, the subjects play a one-shot game then they are asked to recall...

  13. Economic modeling of HIV treatments.

    Science.gov (United States)

    Simpson, Kit N

    2010-05-01

    To review the general literature on microeconomic modeling and key points that must be considered in the general assessment of economic modeling reports, discuss the evolution of HIV economic models and identify models that illustrate this development over time, as well as examples of current studies. Recommend improvements in HIV economic modeling. Recent economic modeling studies of HIV include examinations of scaling up antiretroviral (ARV) in South Africa, screening prior to use of abacavir, preexposure prophylaxis, early start of ARV in developing countries and cost-effectiveness comparisons of specific ARV drugs using data from clinical trials. These studies all used extensively published second-generation Markov models in their analyses. There have been attempts to simplify approaches to cost-effectiveness estimates by using simple decision trees or cost-effectiveness calculations with short-time horizons. However, these approaches leave out important cumulative economic effects that will not appear early in a treatment. Many economic modeling studies were identified in the 'gray' literature, but limited descriptions precluded an assessment of their adherence to modeling guidelines, and thus to the validity of their findings. There is a need for developing third-generation models to accommodate new knowledge about adherence, adverse effects, and viral resistance.

  14. Numerical modeling of economic uncertainty

    DEFF Research Database (Denmark)

    Schjær-Jacobsen, Hans

    2007-01-01

    Representation and modeling of economic uncertainty is addressed by different modeling methods, namely stochastic variables and probabilities, interval analysis, and fuzzy numbers, in particular triple estimates. Focusing on discounted cash flow analysis numerical results are presented, comparisons...... are made between alternative modeling methods, and characteristics of the methods are discussed....

  15. ECONOMIC MODELING PROCESSES USING MATLAB

    Directory of Open Access Journals (Sweden)

    Anamaria G. MACOVEI

    2008-06-01

    Full Text Available To study economic phenomena and processes using mathem atical modeling, and to determine the approximatesolution to a problem we need to choose a method of calculation and a numerical computer program, namely thepackage of programs MatLab. Any economic process or phenomenon is a mathematical description of h is behavior,and thus draw up an economic and mathematical model that has the following stages: formulation of the problem, theanalysis process modeling, the production model and design verification, validation and implementation of the model.This article is presented an economic model and its modeling is using mathematical equations and software packageMatLab, which helps us approximation effective solution. As data entry is considered the net cost, the cost of direct andtotal cost and the link between them. I presented the basic formula for determining the total cost. Economic modelcalculations were made in MatLab software package and with graphic representation of its interpretation of the resultsachieved in terms of our specific problem.

  16. The integrated economic model

    International Nuclear Information System (INIS)

    Syrota, J.; Cirelli, J.F.; Brimont, S.; Lyle, C.; Nossent, G.; Moraleda, P.

    2005-01-01

    The setting up of the European energy market has triggered a radical change of the context within with the energy players operated. The natural markets of the incumbent operators, which were formerly demarcated by national and even regional borders, have extended to at least the scale of the European Union. In addition to their geographical development strategy, gas undertakings are diversifying their portfolios towards both upstream as well as downstream activities of the gas chain, and/or extending their offers to other energies and services. Energy players' strategies are rather complex and sometimes give the impression that of being based on contradictory decisions. Some operators widen their field of operations, whereas others specialize in a limited number of activities. This Round Table provides an opportunity to compare business models as adopted by the major gas undertakings in response to structural changes observed in various countries over recent years

  17. Model confirmation in climate economics

    Science.gov (United States)

    Millner, Antony; McDermott, Thomas K. J.

    2016-01-01

    Benefit–cost integrated assessment models (BC-IAMs) inform climate policy debates by quantifying the trade-offs between alternative greenhouse gas abatement options. They achieve this by coupling simplified models of the climate system to models of the global economy and the costs and benefits of climate policy. Although these models have provided valuable qualitative insights into the sensitivity of policy trade-offs to different ethical and empirical assumptions, they are increasingly being used to inform the selection of policies in the real world. To the extent that BC-IAMs are used as inputs to policy selection, our confidence in their quantitative outputs must depend on the empirical validity of their modeling assumptions. We have a degree of confidence in climate models both because they have been tested on historical data in hindcasting experiments and because the physical principles they are based on have been empirically confirmed in closely related applications. By contrast, the economic components of BC-IAMs often rely on untestable scenarios, or on structural models that are comparatively untested on relevant time scales. Where possible, an approach to model confirmation similar to that used in climate science could help to build confidence in the economic components of BC-IAMs, or focus attention on which components might need refinement for policy applications. We illustrate the potential benefits of model confirmation exercises by performing a long-run hindcasting experiment with one of the leading BC-IAMs. We show that its model of long-run economic growth—one of its most important economic components—had questionable predictive power over the 20th century. PMID:27432964

  18. Mathematical modelling in economic processes.

    Directory of Open Access Journals (Sweden)

    L.V. Kravtsova

    2008-06-01

    Full Text Available In article are considered a number of methods of mathematical modelling of economic processes and opportunities of use of spreadsheets Excel for reception of the optimum decision of tasks or calculation of financial operations with the help of the built-in functions.

  19. Using the Circular Flow of Income Model to Teach Economics in the Middle School Classroom

    Science.gov (United States)

    Marks, Melanie; Kotula, Gemma

    2009-01-01

    The circular flow of income diagram is a traditional starting point for economics taught at the high school and college level. Although it is an incredibly useful tool for illustrating how money flows through the economy, the model can be abstract and relies on a sophisticated vocabulary that makes it impractical for use with younger students.…

  20. Pension fund sophistication and investment policy

    NARCIS (Netherlands)

    de Dreu, J.|info:eu-repo/dai/nl/364537906; Bikker, J.A.|info:eu-repo/dai/nl/06912261X

    This paper assesses the sophistication of pension funds’ investment policies using data on 748 Dutch pension funds during the 1999–2006 period. We develop three indicators of sophistication: gross rounding of investment choices, investments in alternative sophisticated asset classes and ‘home bias’.

  1. PLANNING AND MODEL CUBAN ECONOMIC

    Directory of Open Access Journals (Sweden)

    Kenilia Mariela Villalón-Madrazo

    2016-01-01

    Full Text Available Since the Revolution´s Triumph the country assumes that the planning is the axis, as instrument for the economic acting and of the constant development of the socialist relationships of production and it traces the rules required for the best operation in the Cuban economy, and it implants with these concepts the centralized economic pattern that responded to the existent outline in the Soviet Union and the European socialist countries, of centralized planning based on the material balances. In the current situation of the Cuban economy it is thought about bringing up to date the economic pattern in which will stay as priority the planning and not the market. Leaving what it is mentioned above, presently in this work is carried out the analysis of the economic models in Cuba and its linking with the planning, with the objective of giving to know how the pattern economic Cuban is implanted from the first years of the revolution and it has always been the planning its fundamental axis, and as the same one it has left modernizing during the 53 years of the Revolution. It has been carried out an analysis framed approximately in 10 year-old periods pointing out the internal and external factors that have impacted in the Cuban pattern, their adjustments and the role of planning. 

  2. Sophistication and Performance of Italian Agri‐food Exports

    Directory of Open Access Journals (Sweden)

    Anna Carbone

    2012-06-01

    Full Text Available Nonprice competition is increasingly important in world food markets. Recently, the expression ‘export sophistication’ has been introduced in the economic literature to refer to a wide set of attributes that increase product value. An index has been proposed to measure sophistication in an indirect way through the per capita GDP of exporting countries (Lall et al., 2006; Haussmann et al., 2007.The paper applies the sophistication measure to the Italian food export sector, moving from an analysis of trends and performance of Italian food exports. An original way to disentangle different components in the temporal variation of the sophistication index is also proposed.Results show that the sophistication index offers original insights on recent trends in world food exports and with respect to Italian core food exports.

  3. Energy-economic policy modeling

    Science.gov (United States)

    Sanstad, Alan H.

    2018-01-01

    Computational models based on economic principles and methods are powerful tools for understanding and analyzing problems in energy and the environment and for designing policies to address them. Among their other features, some current models of this type incorporate information on sustainable energy technologies and can be used to examine their potential role in addressing the problem of global climate change. The underlying principles and the characteristics of the models are summarized, and examples of this class of model and their applications are presented. Modeling epistemology and related issues are discussed, as well as critiques of the models. The paper concludes with remarks on the evolution of the models and possibilities for their continued development.

  4. Efficiency of economic development models

    Directory of Open Access Journals (Sweden)

    Oana Camelia Iacob

    2013-03-01

    Full Text Available The world economy is becoming increasingly integrated. Integrating emerging economies of Asia, such as China and India increase competition on the world stage, putting pressure on the "actors" already existing. These developments have raised questions about the effectiveness of European development model, which focuses on a high level of equity, insurance and social protection. According to analysts, the world today faces three models of economic development with significant weight in the world: the European, American and Asian. This study will focus on analyzing European development model, and a brief comparison with the United States. In addition, this study aims to highlight the relationship between efficiency and social equity that occurs in each submodel in part of the European model, given that social and economic performance in the EU are not homogeneous. To achieve this, it is necessary to analyze different indicators related to social equity and efficiency respectively, to observe the performance of each submodel individually. The article analyzes data to determine submodel performance according to social equity and economic efficiency.

  5. Production economic models of fisheries

    DEFF Research Database (Denmark)

    Andersen, Jesper Levring

    The overall purpose of this PhD thesis is to investigate different aspects of fishermen’s behaviour using production economic models at the individual and industry levels. Three parts make up this thesis. The first part provides an overview of the thesis. The second part consists of four papers......, including all relevant factors in specific analyses is impossible, and it is therefore important to be aware of the most essential ones. As demonstrated in the literature review of Paper 1, a large number of factors may significantly influence fishermen’s short run behaviour, i.e. choice of gear type...

  6. Obfuscation, Learning, and the Evolution of Investor Sophistication

    OpenAIRE

    Bruce Ian Carlin; Gustavo Manso

    2011-01-01

    Investor sophistication has lagged behind the growing complexity of retail financial markets. To explore this, we develop a dynamic model to study the interaction between obfuscation and investor sophistication in mutual fund markets. Taking into account different learning mechanisms within the investor population, we characterize the optimal timing of obfuscation for financial institutions who offer retail products. We show that educational initiatives that are directed to facilitate learnin...

  7. The Economics of Online Dating: A Course in Economic Modeling

    Science.gov (United States)

    Monaco, Andrew J.

    2018-01-01

    The author discusses the development of a unique course, The Economics of Online Dating. The course is an upper-level undergraduate course that combines intensive discussion, peer review, and economic theory to teach modeling skills to undergraduates. The course uses the framework of "online dating," interpreted broadly, as a point of…

  8. HOMER Economic Models - US Navy

    Energy Technology Data Exchange (ETDEWEB)

    Bush, Jason William [Idaho National Lab. (INL), Idaho Falls, ID (United States); Myers, Kurt Steven [Idaho National Lab. (INL), Idaho Falls, ID (United States)

    2016-02-01

    This LETTER REPORT has been prepared by Idaho National Laboratory for US Navy NAVFAC EXWC to support in testing pre-commercial SIREN (Simulated Integration of Renewable Energy Networks) computer software models. In the logistics mode SIREN software simulates the combination of renewable power sources (solar arrays, wind turbines, and energy storage systems) in supplying an electrical demand. NAVFAC EXWC will create SIREN software logistics models of existing or planned renewable energy projects at five Navy locations (San Nicolas Island, AUTEC, New London, & China Lake), and INL will deliver additional HOMER computer models for comparative analysis. In the transient mode SIREN simulates the short time-scale variation of electrical parameters when a power outage or other destabilizing event occurs. In the HOMER model, a variety of inputs are entered such as location coordinates, Generators, PV arrays, Wind Turbines, Batteries, Converters, Grid costs/usage, Solar resources, Wind resources, Temperatures, Fuels, and Electric Loads. HOMER's optimization and sensitivity analysis algorithms then evaluate the economic and technical feasibility of these technology options and account for variations in technology costs, electric load, and energy resource availability. The Navy can then use HOMER’s optimization and sensitivity results to compare to those of the SIREN model. The U.S. Department of Energy (DOE) Idaho National Laboratory (INL) possesses unique expertise and experience in the software, hardware, and systems design for the integration of renewable energy into the electrical grid. NAVFAC EXWC will draw upon this expertise to complete mission requirements.

  9. Teaching Economics: A Cooperative Learning Model.

    Science.gov (United States)

    Caropreso, Edward J.; Haggerty, Mark

    2000-01-01

    Describes an alternative approach to introductory economics based on a cooperative learning model, "Learning Together." Discussion of issues in economics education and cooperative learning in higher education leads to explanation of how to adapt the Learning Together Model to lesson planning in economics. A flow chart illustrates the process for a…

  10. The Need of a New Economic Model

    Directory of Open Access Journals (Sweden)

    Alexandru Cătălin POPA

    2012-02-01

    Full Text Available The current global economic crisis has proven to be unpredictable for most decision-makers worldwide. Moreover, beliefs deeply embedded in the minds of economists about economics, about the virtues of capitalism and free market began to falter. Sooner or later the current crisis will end. The problem that arises and to which the economic science must answer is whether anything should be changed in the current world economic order and especially what exactly. It is quite vital to ask ourselves today in what kind of society we want to live and whether the current economic model, a model mainly based on monetarist ideas, is helping us to achieve those wishes. In addition to analyzing the root causes that led to the current economic crisis, this article aims to analyze whether the current economic model must change and to outline the features of a possible new model.

  11. Economic models for battery energy storage

    International Nuclear Information System (INIS)

    Reckrodt, R.C.; Anderson, M.D.; Kluczny, R.M.

    1990-01-01

    While the technology required to produce viable Battery Energy Storage System exists, the economic feasibility (cost vs. benefits) of building these systems requires justification. First, a generalized decision diagram was developed to ensure that all of the economic factors were considered and properly related for the customer-side-of-the meter. Next, two economic models that had consistently given differing results were compared. One was the McKinney model developed at UM-Rolla in 1987; the second was the SYSPLAN model developed by Battelle. Differences were resolved on a point by point basis with reference to the current economic environment. The economic model was upgraded to include the best of both models based on the resolution of these differences. The upgrades were implemented as modifications to the original SYSPLAN (1986 version) to preserve user friendliness. In this paper four specific cases are evaluated and compared. The results are as predicted, since comparison was made with two known models

  12. Network models in economics and finance

    CERN Document Server

    Pardalos, Panos; Rassias, Themistocles

    2014-01-01

    Using network models to investigate the interconnectivity in modern economic systems allows researchers to better understand and explain some economic phenomena. This volume presents contributions by known experts and active researchers in economic and financial network modeling. Readers are provided with an understanding of the latest advances in network analysis as applied to economics, finance, corporate governance, and investments. Moreover, recent advances in market network analysis  that focus on influential techniques for market graph analysis are also examined. Young researchers will find this volume particularly useful in facilitating their introduction to this new and fascinating field. Professionals in economics, financial management, various technologies, and network analysis, will find the network models presented in this book beneficial in analyzing the interconnectivity in modern economic systems.

  13. Modeling the economic outcomes of immuno-oncology drugs: alternative model frameworks to capture clinical outcomes.

    Science.gov (United States)

    Gibson, E J; Begum, N; Koblbauer, I; Dranitsaris, G; Liew, D; McEwan, P; Tahami Monfared, A A; Yuan, Y; Juarez-Garcia, A; Tyas, D; Lees, M

    2018-01-01

    Economic models in oncology are commonly based on the three-state partitioned survival model (PSM) distinguishing between progression-free and progressive states. However, the heterogeneity of responses observed in immuno-oncology (I-O) suggests that new approaches may be appropriate to reflect disease dynamics meaningfully. This study explored the impact of incorporating immune-specific health states into economic models of I-O therapy. Two variants of the PSM and a Markov model were populated with data from one clinical trial in metastatic melanoma patients. Short-term modeled outcomes were benchmarked to the clinical trial data and a lifetime model horizon provided estimates of life years and quality adjusted life years (QALYs). The PSM-based models produced short-term outcomes closely matching the trial outcomes. Adding health states generated increased QALYs while providing a more granular representation of outcomes for decision making. The Markov model gave the greatest level of detail on outcomes but gave short-term results which diverged from those of the trial (overstating year 1 progression-free survival by around 60%). Increased sophistication in the representation of disease dynamics in economic models is desirable when attempting to model treatment response in I-O. However, the assumptions underlying different model structures and the availability of data for health state mapping may be important limiting factors.

  14. The BCRA’s Small Economic Model

    OpenAIRE

    Pedro Elosegui; Guillermo Escudé; Lorena Garegnani; Juan Martín Sotes Paladino

    2007-01-01

    The use of macroeconomic forecasting models is a common practice in central banks for monetary policy design, for the analysis of the current economic developments and for medium and long term forecasts. Among those models, the small-scale macroeconomic models stand out. Though relatively simple, they are structured and take into account the transmission mechanisms that relate the main variables of interest: the interest rate, the exchange rate, GDP and inflation. The Small Economic Model (ME...

  15. HTGR Application Economic Model Users' Manual

    International Nuclear Information System (INIS)

    Gandrik, A.M.

    2012-01-01

    The High Temperature Gas-Cooled Reactor (HTGR) Application Economic Model was developed at the Idaho National Laboratory for the Next Generation Nuclear Plant Project. The HTGR Application Economic Model calculates either the required selling price of power and/or heat for a given internal rate of return (IRR) or the IRR for power and/or heat being sold at the market price. The user can generate these economic results for a range of reactor outlet temperatures; with and without power cycles, including either a Brayton or Rankine cycle; for the demonstration plant, first of a kind, or nth of a kind project phases; for up to 16 reactor modules; and for module ratings of 200, 350, or 600 MWt. This users manual contains the mathematical models and operating instructions for the HTGR Application Economic Model. Instructions, screenshots, and examples are provided to guide the user through the HTGR Application Economic Model. This model was designed for users who are familiar with the HTGR design and Excel and engineering economics. Modification of the HTGR Application Economic Model should only be performed by users familiar with the HTGR and its applications, Excel, and Visual Basic.

  16. Bridging Economic Theory Models and the Cointegrated Vector Autoregressive Model

    DEFF Research Database (Denmark)

    Møller, Niels Framroze

    2008-01-01

    Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity in the econo......Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity...... are related to expectations formation, market clearing, nominal rigidities, etc. Finally, the general-partial equilibrium distinction is analyzed....

  17. Bridging Economic Theory Models and the Cointegrated Vector Autoregressive Model

    DEFF Research Database (Denmark)

    Møller, Niels Framroze

    2008-01-01

    Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity in the econo......Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity...... parameters of the CVAR are shown to be interpretable in terms of expectations formation, market clearing, nominal rigidities, etc. The general-partial equilibrium distinction is also discussed....

  18. Structural modelling of economic growth: Technological changes

    Directory of Open Access Journals (Sweden)

    Sukharev Oleg

    2016-01-01

    Full Text Available Neoclassical and Keynesian theories of economic growth assume the use of Cobb-Douglas modified functions and other aggregate econometric approaches to growth dynamics modelling. In that case explanations of economic growth are based on the logic of the used mathematical ratios often including the ideas about aggregated values change and factors change a priori. The idea of assessment of factor productivity is the fundamental one among modern theories of economic growth. Nevertheless, structural parameters of economic system, institutions and technological changes are practically not considered within known approaches, though the latter is reflected in the changing parameters of production function. At the same time, on the one hand, the ratio of structural elements determines the future value of the total productivity of the factors and, on the other hand, strongly influences the rate of economic growth and its mode of innovative dynamics. To put structural parameters of economic system into growth models with the possibility of assessment of such modes under conditions of interaction of new and old combinations is an essential step in the development of the theory of economic growth/development. It allows forming stimulation policy of economic growth proceeding from the structural ratios and relations recognized for this economic system. It is most convenient in such models to use logistic functions demonstrating the resource change for old and new combination within the economic system. The result of economy development depends on starting conditions, and on institutional parameters of velocity change of resource borrowing in favour of a new combination and creation of its own resource. Model registration of the resource is carried out through the idea of investments into new and old combinations.

  19. JEDI: Jobs and Economic Development Impact Model

    Energy Technology Data Exchange (ETDEWEB)

    2017-06-13

    The Jobs and Economic Development Impact (JEDI) models are user-friendly tools that estimate the economic impacts of constructing and operating power generation and biofuel plants at the local (usually state) level. First developed by NREL's researchers to model wind energy jobs and impacts, JEDI has been expanded to also estimate the economic impacts of biofuels, coal, conventional hydro, concentrating solar power, geothermal, marine and hydrokinetic power, natural gas, photovoltaics, and transmission lines. This fact sheet focuses on JEDI for wind energy projects and is revised with 2017 figures.

  20. The modelling of economic consequences in COSYMA

    International Nuclear Information System (INIS)

    Faude, D.

    1991-01-01

    A new model for assessing the economic consequences of accidents, called COCO-1 (Cost of Consequences Off-site) has been developed jointly by NRPB and KfK under the CEC MARIA programme. This paper describes the way in which this model, together with other options, has been implemented in the ECONOMICS module of COSYMA. For consistency with the other parts of COSYMA, the coding of the ECONOMICS module is flexible: in several areas, alternative calculational methods are available and the user may select the method by which a particular cost is calculated. To some extent, economic models other than the COCO-1 model may be applied. There are two types of input data in the ECONOMICS module. These are (1) data from preceding COSYMA modules which quantify the magnitude and distribution of health effects and the impact of countermeasures, and (2) economic data, in terms of costs per unit quantity, to convert the preceding data into monetary values. The structure of the module has been determined by the form and availability of the input data, and the general structure of COSYMA. Details of the method of calculation, and the necessary input data, are discussed, for calculation of the economic consequences of the countermeasures considered in COSYMA (evacuation, relocation, sheltering, decontamination and food bans) and for early and late health effects

  1. Impacts of C-uptake by plants on the spatial distribution of 14C accumulated in vegetation around a nuclear facility-Application of a sophisticated land surface 14C model to the Rokkasho reprocessing plant, Japan.

    Science.gov (United States)

    Ota, Masakazu; Katata, Genki; Nagai, Haruyasu; Terada, Hiroaki

    2016-10-01

    The impacts of carbon uptake by plants on the spatial distribution of radiocarbon ( 14 C) accumulated in vegetation around a nuclear facility were investigated by numerical simulations using a sophisticated land surface 14 C model (SOLVEG-II). In the simulation, SOLVEG-II was combined with a mesoscale meteorological model and an atmospheric dispersion model. The model combination was applied to simulate the transfer of 14 CO 2 and to assess the radiological impact of 14 C accumulation in rice grains during test operations of the Rokkasho reprocessing plant (RRP), Japan, in 2007. The calculated 14 C-specific activities in rice grains agreed with the observed activities in paddy fields around the RRP within a factor of four. The annual effective dose delivered from 14 C in the rice grain was estimated to be less than 0.7 μSv, only 0.07% of the annual effective dose limit of 1 mSv for the public. Numerical experiments of hypothetical continuous atmospheric 14 CO 2 release from the RRP showed that the 14 C-specific activities of rice plants at harvest differed from the annual mean activities in the air. The difference was attributed to seasonal variations in the atmospheric 14 CO 2 concentration and the growth of the rice plant. Accumulation of 14 C in the rice plant significantly increased when 14 CO 2 releases were limited during daytime hours, compared with the results observed during the nighttime. These results indicated that plant growth stages and diurnal photosynthesis should be considered in predictions of the ingestion dose of 14 C for long-term chronic releases and short-term diurnal releases of 14 CO 2 , respectively. Copyright © 2016 Elsevier Ltd. All rights reserved.

  2. Linking Simple Economic Theory Models and the Cointegrated Vector AutoRegressive Model

    DEFF Research Database (Denmark)

    Møller, Niels Framroze

    This paper attempts to clarify the connection between simple economic theory models and the approach of the Cointegrated Vector-Auto-Regressive model (CVAR). By considering (stylized) examples of simple static equilibrium models, it is illustrated in detail, how the theoretical model and its stru....... Further fundamental extensions and advances to more sophisticated theory models, such as those related to dynamics and expectations (in the structural relations) are left for future papers......This paper attempts to clarify the connection between simple economic theory models and the approach of the Cointegrated Vector-Auto-Regressive model (CVAR). By considering (stylized) examples of simple static equilibrium models, it is illustrated in detail, how the theoretical model and its......, it is demonstrated how other controversial hypotheses such as Rational Expectations can be formulated directly as restrictions on the CVAR-parameters. A simple example of a "Neoclassical synthetic" AS-AD model is also formulated. Finally, the partial- general equilibrium distinction is related to the CVAR as well...

  3. Economic aspects and models for building codes

    DEFF Research Database (Denmark)

    Bonke, Jens; Pedersen, Dan Ove; Johnsen, Kjeld

    It is the purpose of this bulletin to present an economic model for estimating the consequence of new or changed building codes. The object is to allow comparative analysis in order to improve the basis for decisions in this field. The model is applied in a case study.......It is the purpose of this bulletin to present an economic model for estimating the consequence of new or changed building codes. The object is to allow comparative analysis in order to improve the basis for decisions in this field. The model is applied in a case study....

  4. Economic Models as Devices of Policy Change

    DEFF Research Database (Denmark)

    Henriksen, Lasse Folke

    2013-01-01

    Can the emergence of a new policy model be a catalyst for a paradigm shift in the overall interpretative framework of how economic policy is conducted within a society? This paper claims that models are understudied as devices used by actors to induce policy change. This paper explores the role...... of models in Danish economic policy, where, from the 1970s onwards, executive public servants in this area have exclusively been specialists in model design. To understand changes in economic policy, this paper starts with a discussion of whether the notion of paradigm shift is adequate. It then examines...... the extent to which the performativity approach can help identify macroscopic changes in policy from seemingly microscopic changes in policy models. The concept of performativity is explored as a means of thinking about the constitution of agency directed at policy change. The paper brings this concept...

  5. Economic model of pipeline transportation systems

    Energy Technology Data Exchange (ETDEWEB)

    Banks, W. F.

    1977-07-29

    The objective of the work reported here was to develop a model which could be used to assess the economic effects of energy-conservative technological innovations upon the pipeline industry. The model is a dynamic simulator which accepts inputs of two classes: the physical description (design parameters, fluid properties, and financial structures) of the system to be studied, and the postulated market (throughput and price) projection. The model consists of time-independent submodels: the fluidics model which simulates the physical behavior of the system, and the financial model which operates upon the output of the fluidics model to calculate the economics outputs. Any of a number of existing fluidics models can be used in addition to that developed as a part of this study. The financial model, known as the Systems, Science and Software (S/sup 3/) Financial Projection Model, contains user options whereby pipeline-peculiar characteristics can be removed and/or modified, so that the model can be applied to virtually any kind of business enterprise. The several dozen outputs are of two classes: the energetics and the economics. The energetics outputs of primary interest are the energy intensity, also called unit energy consumption, and the total energy consumed. The primary economics outputs are the long-run average cost, profit, cash flow, and return on investment.

  6. Does underground storage still require sophisticated studies?

    International Nuclear Information System (INIS)

    Marsily, G. de

    1997-01-01

    Most countries agree to the necessity of burying high or medium-level wastes in geological layers situated at a few hundred meters below the ground level. The advantages and disadvantages of different types of rock such as salt, clay, granite and volcanic material are examined. Sophisticated studies are lead to determine the best geological confinement but questions arise about the time for which safety must be ensured. France has chosen 3 possible sites. These sites are geologically described in the article. The final place will be proposed after a testing phase of about 5 years in an underground facility. (A.C.)

  7. Data Driven Economic Model Predictive Control

    Directory of Open Access Journals (Sweden)

    Masoud Kheradmandi

    2018-04-01

    Full Text Available This manuscript addresses the problem of data driven model based economic model predictive control (MPC design. To this end, first, a data-driven Lyapunov-based MPC is designed, and shown to be capable of stabilizing a system at an unstable equilibrium point. The data driven Lyapunov-based MPC utilizes a linear time invariant (LTI model cognizant of the fact that the training data, owing to the unstable nature of the equilibrium point, has to be obtained from closed-loop operation or experiments. Simulation results are first presented demonstrating closed-loop stability under the proposed data-driven Lyapunov-based MPC. The underlying data-driven model is then utilized as the basis to design an economic MPC. The economic improvements yielded by the proposed method are illustrated through simulations on a nonlinear chemical process system example.

  8. Economic modelling for life extension decision making

    International Nuclear Information System (INIS)

    Farber, M.A.; Harrison, D.L.; Carlson, D.D.

    1987-01-01

    This paper presents a methodology for the economic and financial analysis of nuclear plant life extension under uncertainty and demonstrates its use in a case analysis. While the economic and financial evaluation of life extension does not require new analytical tools, such studies should be based on the following three premises. First, the methodology should examine effects at the level of the company or utility system, because the most important economic implications of life extension relate to the altered generation system expansion plan. Second, it should focus on the implications of uncertainty in order to understand the factors that most affect life extension benefits and identify risk management efforts. Third, the methodology should address multiple objectives, at a minimum, both economic and financial objectives. An analysis of the role of life extension for Virginia Power's generating system was performed using the MIDAS model, developed by the Electric Power Research Institute. MIDAS is particularly well suited to this type of study because of its decision analysis framework. The model incorporates modules for load analysis, capacity expansion, production costing, financial analysis, and rates. The decision tree structure facilitates the multiple-scenario analysis of uncertainty. The model's output includes many economic and financial measures, including capital expenditures, fuel and purchases power costs, revenue requirements, average rates, external financing requirements, and coverage ratio. Based on findings for Virginia Power's Surry 1 plant, nuclear plant life extension has economic benefits for a utility's customers and financial benefits for the utility's investors. These benefits depend on a number of economic, technical and regulatory factors. The economic analysis presented in this paper identifies many of the key factors and issues relevant to life extension planning

  9. Spatial Economics Model Predicting Transport Volume

    Directory of Open Access Journals (Sweden)

    Lu Bo

    2016-10-01

    Full Text Available It is extremely important to predict the logistics requirements in a scientific and rational way. However, in recent years, the improvement effect on the prediction method is not very significant and the traditional statistical prediction method has the defects of low precision and poor interpretation of the prediction model, which cannot only guarantee the generalization ability of the prediction model theoretically, but also cannot explain the models effectively. Therefore, in combination with the theories of the spatial economics, industrial economics, and neo-classical economics, taking city of Zhuanghe as the research object, the study identifies the leading industry that can produce a large number of cargoes, and further predicts the static logistics generation of the Zhuanghe and hinterlands. By integrating various factors that can affect the regional logistics requirements, this study established a logistics requirements potential model from the aspect of spatial economic principles, and expanded the way of logistics requirements prediction from the single statistical principles to an new area of special and regional economics.

  10. Logistic map with memory from economic model

    International Nuclear Information System (INIS)

    Tarasova, Valentina V.; Tarasov, Vasily E.

    2017-01-01

    A generalization of the economic model of logistic growth, which takes into account the effects of memory and crises, is suggested. Memory effect means that the economic factors and parameters at any given time depend not only on their values at that time, but also on their values at previous times. For the mathematical description of the memory effects, we use the theory of derivatives of non-integer order. Crises are considered as sharp splashes (bursts) of the price, which are mathematically described by the delta-functions. Using the equivalence of fractional differential equations and the Volterra integral equations, we obtain discrete maps with memory that are exact discrete analogs of fractional differential equations of economic processes. We derive logistic map with memory, its generalizations, and “economic” discrete maps with memory from the fractional differential equations, which describe the economic natural growth with competition, power-law memory and crises.

  11. Agent-based modeling in ecological economics.

    Science.gov (United States)

    Heckbert, Scott; Baynes, Tim; Reeson, Andrew

    2010-01-01

    Interconnected social and environmental systems are the domain of ecological economics, and models can be used to explore feedbacks and adaptations inherent in these systems. Agent-based modeling (ABM) represents autonomous entities, each with dynamic behavior and heterogeneous characteristics. Agents interact with each other and their environment, resulting in emergent outcomes at the macroscale that can be used to quantitatively analyze complex systems. ABM is contributing to research questions in ecological economics in the areas of natural resource management and land-use change, urban systems modeling, market dynamics, changes in consumer attitudes, innovation, and diffusion of technology and management practices, commons dilemmas and self-governance, and psychological aspects to human decision making and behavior change. Frontiers for ABM research in ecological economics involve advancing the empirical calibration and validation of models through mixed methods, including surveys, interviews, participatory modeling, and, notably, experimental economics to test specific decision-making hypotheses. Linking ABM with other modeling techniques at the level of emergent properties will further advance efforts to understand dynamics of social-environmental systems.

  12. Value function in economic growth model

    Science.gov (United States)

    Bagno, Alexander; Tarasyev, Alexandr A.; Tarasyev, Alexander M.

    2017-11-01

    Properties of the value function are examined in an infinite horizon optimal control problem with an unlimited integrand index appearing in the quality functional with a discount factor. Optimal control problems of such type describe solutions in models of economic growth. Necessary and sufficient conditions are derived to ensure that the value function satisfies the infinitesimal stability properties. It is proved that value function coincides with the minimax solution of the Hamilton-Jacobi equation. Description of the growth asymptotic behavior for the value function is provided for the logarithmic, power and exponential quality functionals and an example is given to illustrate construction of the value function in economic growth models.

  13. An economic model for seaborne oil trade

    OpenAIRE

    Hong, Kian-Wah

    1996-01-01

    This thesis aims to provide some insights as to how oil prices and oil flows might vary with the carrying capacity of the tanker fleet as affected by political events. It provides an econometric analysis of tanker freight rates in the modern era and proposes a mathematical (quadratic) programming economic model that links the crude oil market to the supply elasticity of the world oil tanker fleet based on a competitive economy. The economic model can be considered as a version of the Walras-C...

  14. ECONOMIC MODELING STOCKS CONTROL SYSTEM: SIMULATION MODEL

    OpenAIRE

    Климак, М.С.; Войтко, С.В.

    2016-01-01

    Considered theoretical and applied aspects of the development of simulation models to predictthe optimal development and production systems that create tangible products andservices. It isproved that theprocessof inventory control needs of economicandmathematical modeling in viewof thecomplexity of theoretical studies. A simulation model of stocks control that allows make managementdecisions with production logistics

  15. Economical modelling of social and moral norms

    International Nuclear Information System (INIS)

    Nyborg, Karine

    2001-01-01

    Social norms and moral motivations are often ignored in economic models. It is possible, however, to model social and moral norms within the framework of economical theory. This may be useful even if the exposition is necessarily simplified. The article gives some examples. An analysis shows how the ''No Smoking Act'' may have led to a change in social norms in Norway and indirectly changed the behaviour of smokers in places where this act does not apply. Behaviour with moral motivation may also be affected by changes in regulations, economic incentives or other external conditions. For example, a more efficient collection system for source-separated waste may induce people to sharpen the moral claim on their own efforts. Indeed, interviews show that imposing a fee upon people not volunteering in communal work may cause the attendance to drop further

  16. Modeling the economic consequences of LWR accidents

    International Nuclear Information System (INIS)

    Burke, R.P.; Aldrich, D.C.; Rasmussen, N.C.

    1984-01-01

    Models to be used for analyses of economic risks from events which may occur during LWR plant operation are developed in this study. The models include capabilities to estimate both onsite and offsite costs of LWR events ranging from routine plant outages to severe core-melt accidents resulting in large releases of radioactive material to the environment. The models can be used by both the nuclear power industry and regulatory agencies in cost-benefit analyses for decisionmaking purposes. The newly developed economic consequence models are applied in an example to estimate the economic risks from operation of the Surry Unit 2 plant. The analyses indicate that economic risks from US LWR operation, in contrast to public health risks, are dominated by relatively high-frequency forced outage events. Even for severe (e.g., core-melt) accidents, expected offsite costs are less than expected onsite costs for the Surry site. The implications of these conclusions for nuclear power plant operation and regulation are discussed

  17. Arational heuristic model of economic decision making

    OpenAIRE

    Grandori, Anna

    2010-01-01

    The article discuss the limits of both the rational actor and the behavioral paradigms in explaining and guiding innovative decision making and outlines a model of economic decision making that in the course of being 'heuristic' (research and discovery oriented) is also 'rational' (in the broad sense of following correct reasoning and scientific methods, non 'biasing'). The model specifies a set of 'rational heuristics' for innovative decision making, for the various sub-processes of problem ...

  18. Strategic sophistication of individuals and teams. Experimental evidence

    Science.gov (United States)

    Sutter, Matthias; Czermak, Simon; Feri, Francesco

    2013-01-01

    Many important decisions require strategic sophistication. We examine experimentally whether teams act more strategically than individuals. We let individuals and teams make choices in simple games, and also elicit first- and second-order beliefs. We find that teams play the Nash equilibrium strategy significantly more often, and their choices are more often a best response to stated first order beliefs. Distributional preferences make equilibrium play less likely. Using a mixture model, the estimated probability to play strategically is 62% for teams, but only 40% for individuals. A model of noisy introspection reveals that teams differ from individuals in higher order beliefs. PMID:24926100

  19. Mathematical model in economic environmental problems

    Energy Technology Data Exchange (ETDEWEB)

    Nahorski, Z. [Polish Academy of Sciences, Systems Research Inst. (Poland); Ravn, H.F. [Risoe National Lab. (Denmark)

    1996-12-31

    The report contains a review of basic models and mathematical tools used in economic regulation problems. It starts with presentation of basic models of capital accumulation, resource depletion, pollution accumulation, and population growth, as well as construction of utility functions. Then the one-state variable model is discussed in details. The basic mathematical methods used consist of application of the maximum principle and phase plane analysis of the differential equations obtained as the necessary conditions of optimality. A summary of basic results connected with these methods is given in appendices. (au) 13 ills.; 17 refs.

  20. Coupling Climate Models and Forward-Looking Economic Models

    Science.gov (United States)

    Judd, K.; Brock, W. A.

    2010-12-01

    Authors: Dr. Kenneth L. Judd, Hoover Institution, and Prof. William A. Brock, University of Wisconsin Current climate models range from General Circulation Models (GCM’s) with millions of degrees of freedom to models with few degrees of freedom. Simple Energy Balance Climate Models (EBCM’s) help us understand the dynamics of GCM’s. The same is true in economics with Computable General Equilibrium Models (CGE’s) where some models are infinite-dimensional multidimensional differential equations but some are simple models. Nordhaus (2007, 2010) couples a simple EBCM with a simple economic model. One- and two- dimensional ECBM’s do better at approximating damages across the globe and positive and negative feedbacks from anthroprogenic forcing (North etal. (1981), Wu and North (2007)). A proper coupling of climate and economic systems is crucial for arriving at effective policies. Brock and Xepapadeas (2010) have used Fourier/Legendre based expansions to study the shape of socially optimal carbon taxes over time at the planetary level in the face of damages caused by polar ice cap melt (as discussed by Oppenheimer, 2005) but in only a “one dimensional” EBCM. Economists have used orthogonal polynomial expansions to solve dynamic, forward-looking economic models (Judd, 1992, 1998). This presentation will couple EBCM climate models with basic forward-looking economic models, and examine the effectiveness and scaling properties of alternative solution methods. We will use a two dimensional EBCM model on the sphere (Wu and North, 2007) and a multicountry, multisector regional model of the economic system. Our aim will be to gain insights into intertemporal shape of the optimal carbon tax schedule, and its impact on global food production, as modeled by Golub and Hertel (2009). We will initially have limited computing resources and will need to focus on highly aggregated models. However, this will be more complex than existing models with forward

  1. Modeling the economics of LLW volume reduction

    International Nuclear Information System (INIS)

    Voth, M.H.; Witzig, W.F.

    1986-01-01

    Generators of low-level (radioactive) waste (LLW) are under pressure to implement volume reduction (VR) programs for political and economic reasons. Political reasons include the appearance of generating less waste or meeting quotas. Economic reasons include avoiding high disposal costs and associated surcharges. Volume reduction results in less total volume over which fixed disposal costs are allocated and therefore higher unit costs for disposal. As numerous small compacts are developed, this often overlooked effect becomes more pronounced. The described model presents two unique significant features. First, a feedback loop considers the impact of VR on disposal rates, and second, it appeals to logic without extensive knowledge of VR technology or computer modeling. The latter feature is especially useful in conveying information to students and nontechnical decision makers, demonstrating the impact of each of a complicated set of variables with reproducible results

  2. Hydro-economic modelling in mining catchments

    Science.gov (United States)

    Ossa Moreno, J. S.; McIntyre, N.; Rivera, D.; Smart, J. C. R.

    2017-12-01

    Hydro-economic models are gaining momentum because of their capacity to model both the physical processes related to water supply, and socio-economic factors determining water demand. This is particularly valuable in the midst of the large uncertainty upon future climate conditions and social trends. Agriculture, urban uses and environmental flows have received a lot of attention from researchers, as these tend to be the main consumers of water in most catchments. Mine water demand, although very important in several small and medium-sized catchments worldwide, has received less attention and only few models have attempted to reproduce its dynamics with other users. This paper describes an on-going project that addresses this gap, by developing a hydro-economic model in the upper Aconcagua River in Chile. This is a mountain catchment with large scale mining and hydro-power users at high altitudes, and irrigation areas in a downstream valley. Relevant obstacles to the model included the lack of input climate data, which is a common feature in several mining areas, the complex hydrological processes in the area and the difficulty of quantifying the value of water used by mines. A semi-distributed model developed within the Water Evaluation and Planning System (WEAP), was calibrated to reproduce water supply, and this was complemented with an analysis of the value of water for mining based on two methods; water markets and an analysis of its production processes. Agriculture and other users were included through methods commonly used in similar models. The outputs help understanding the value of water in the catchment, and its sensitivity to changes in climate variables, market prices, environmental regulations and changes in the production of minerals, crops and energy. The results of the project highlight the importance of merging hydrology and socio-economic calculations in mining regions, in order to better understand trade-offs and cost of opportunity of using

  3. Economic Modeling of Compressed Air Energy Storage

    Directory of Open Access Journals (Sweden)

    Rui Bo

    2013-04-01

    Full Text Available Due to the variable nature of wind resources, the increasing penetration level of wind power will have a significant impact on the operation and planning of the electric power system. Energy storage systems are considered an effective way to compensate for the variability of wind generation. This paper presents a detailed production cost simulation model to evaluate the economic value of compressed air energy storage (CAES in systems with large-scale wind power generation. The co-optimization of energy and ancillary services markets is implemented in order to analyze the impacts of CAES, not only on energy supply, but also on system operating reserves. Both hourly and 5-minute simulations are considered to capture the economic performance of CAES in the day-ahead (DA and real-time (RT markets. The generalized network flow formulation is used to model the characteristics of CAES in detail. The proposed model is applied on a modified IEEE 24-bus reliability test system. The numerical example shows that besides the economic benefits gained through energy arbitrage in the DA market, CAES can also generate significant profits by providing reserves, compensating for wind forecast errors and intra-hour fluctuation, and participating in the RT market.

  4. Nuclear power investment risk economic model

    International Nuclear Information System (INIS)

    Postula, F.D.; Houghton, W.J.

    1986-01-01

    This paper describes the economic model which was developed to evaluate the net costs incurred by an owner due to an accident induced outage at a nuclear power plant. During such an outage, the portion of the plant operating costs associated with power production are saved; however the owner faces a sizable expense as fossil fuels are burned as a substitute for power from the incapacitated nuclear plant. Additional expenses are incurred by the owner for plant repair and, if necessary, decontamination cost. The model makes provision for mitigating these costs by sales of power, property damage insurance payments, tax write-offs and increased rates

  5. Economic model of the US uranium market

    International Nuclear Information System (INIS)

    Owen, A.D.

    1984-01-01

    An economic model of the US uranium market is developed using annual data for the period 1966-81. The model consists of five stochastic equations explaining uranium consumption, forward commitments, mine production, contract prices, and spot prices. A forecasting exercise is also undertaken. By way of essential background information, however, an analysis of current trends in the international uranium market is given, followed by a summary of historical price movements in the US uranium market. A brief discussion on the current state of the US market precedes the statistical analysis. 19 footnotes and references, 3 tables

  6. Economic tour package model using heuristic

    Science.gov (United States)

    Rahman, Syariza Abdul; Benjamin, Aida Mauziah; Bakar, Engku Muhammad Nazri Engku Abu

    2014-07-01

    A tour-package is a prearranged tour that includes products and services such as food, activities, accommodation, and transportation, which are sold at a single price. Since the competitiveness within tourism industry is very high, many of the tour agents try to provide attractive tour-packages in order to meet tourist satisfaction as much as possible. Some of the criteria that are considered by the tourist are the number of places to be visited and the cost of the tour-packages. Previous studies indicate that tourists tend to choose economical tour-packages and aiming to visit as many places as they can cover. Thus, this study proposed tour-package model using heuristic approach. The aim is to find economical tour-packages and at the same time to propose as many places as possible to be visited by tourist in a given geographical area particularly in Langkawi Island. The proposed model considers only one starting point where the tour starts and ends at an identified hotel. This study covers 31 most attractive places in Langkawi Island from various categories of tourist attractions. Besides, the allocation of period for lunch and dinner are included in the proposed itineraries where it covers 11 popular restaurants around Langkawi Island. In developing the itinerary, the proposed heuristic approach considers time window for each site (hotel/restaurant/place) so that it represents real world implementation. We present three itineraries with different time constraints (1-day, 2-day and 3-day tour-package). The aim of economic model is to minimize the tour-package cost as much as possible by considering entrance fee of each visited place. We compare the proposed model with our uneconomic model from our previous study. The uneconomic model has no limitation to the cost with the aim to maximize the number of places to be visited. Comparison between the uneconomic and economic itinerary has shown that the proposed model have successfully achieved the objective that

  7. Nuclear power investment risk economic model

    International Nuclear Information System (INIS)

    Houghton, W.J.; Postula, F.D.

    1985-12-01

    This paper describes an economic model which was developed to evaluate the net costs incurred by a utility due to an accident induced outage at a nuclear power plant. During such an outage the portion of the plant operating costs associated with power production are saved; however, the owning utility faces a sizable expense as fossil fuels are burned as a substitute for the incapacitated nuclear power. Additional expenses are incurred by the utility for plant repair and if necessary, decontamination costs. The model makes provision for mitigating these costs by sales of power, property damage insurance payments, tax write-offs and increased rates. Over 60 economic variables contribute to the net cost uncertainty. The values of these variables are treated as uncertainty distributions and are used in a Monte carlo computer program to evaluate the cost uncertainty (investment risk) associated with damage which could occur from various categories of initiating accidents. As an example, results of computations for various levels of damage associated with a loss of coolant accident are shown as a range of consequential plant downtime and unrecovered cost. A typical investment risk profile is shown for these types of accidents. Cost/revenue values for each economic factor are presented for a Three Mile Island - II type accident, e.g., uncontrolled core heatup. 4 refs., 6 figs., 3 tabs

  8. Modeling and simulation of economic processes

    Directory of Open Access Journals (Sweden)

    Bogdan Brumar

    2010-12-01

    Full Text Available In general, any activity requires a longer action often characterized by a degree of uncertainty, insecurity, in terms of size of the objective pursued. Because of the complexity of real economic systems, the stochastic dependencies between different variables and parameters considered, not all systems can be adequately represented by a model that can be solved by analytical methods and covering all issues for management decision analysis-economic horizon real. Often in such cases, it is considered that the simulation technique is the only alternative available. Using simulation techniques to study real-world systems often requires a laborious work. Making a simulation experiment is a process that takes place in several stages.

  9. Economic and Power System Modeling and Analysis | Water Power | NREL

    Science.gov (United States)

    Economic and Power System Modeling and Analysis Economic and Power System Modeling and Analysis technologies, their possible deployment scenarios, and the economic impacts of this deployment. As a research approaches used to estimate direct and indirect economic impacts of offshore renewable energy projects

  10. Modeling the economic outcomes of immuno-oncology drugs: alternative model frameworks to capture clinical outcomes

    Directory of Open Access Journals (Sweden)

    Gibson EJ

    2018-03-01

    Full Text Available EJ Gibson,1 N Begum,1 I Koblbauer,1 G Dranitsaris,2 D Liew,3 P McEwan,4 AA Tahami Monfared,5,6 Y Yuan,7 A Juarez-Garcia,7 D Tyas,8 M Lees9 1Wickenstones Ltd, Didcot, UK; 2Augmentium Pharma Consulting Inc, Toronto, ON, Canada; 3Department of Epidemiology and Preventive Medicine, Alfred Hospital, Monash University, Melbourne, VIC, Australia; 4Health Economics and Outcomes Research Ltd, Cardiff, UK; 5Bristol-Myers Squibb Canada, Saint-Laurent, QC Canada; 6Department of Epidemiology, Biostatistics, and Occupational Health, McGill University, Montreal, QC, Canada; 7Bristol-Myers Squibb, Princeton, NJ, USA; 8Bristol-Myers Squibb, Uxbridge, UK; 9Bristol-Myers Squibb, Rueil-Malmaison, France Background: Economic models in oncology are commonly based on the three-state partitioned survival model (PSM distinguishing between progression-free and progressive states. However, the heterogeneity of responses observed in immuno-oncology (I-O suggests that new approaches may be appropriate to reflect disease dynamics meaningfully. Materials and methods: This study explored the impact of incorporating immune-specific health states into economic models of I-O therapy. Two variants of the PSM and a Markov model were populated with data from one clinical trial in metastatic melanoma patients. Short-term modeled outcomes were benchmarked to the clinical trial data and a lifetime model horizon provided estimates of life years and quality adjusted life years (QALYs. Results: The PSM-based models produced short-term outcomes closely matching the trial outcomes. Adding health states generated increased QALYs while providing a more granular representation of outcomes for decision making. The Markov model gave the greatest level of detail on outcomes but gave short-term results which diverged from those of the trial (overstating year 1 progression-free survival by around 60%. Conclusion: Increased sophistication in the representation of disease dynamics in economic models

  11. Purchasing portfolio usage and purchasing sophistication

    NARCIS (Netherlands)

    Gelderman, C.J.; Weele, van A.J.

    2005-01-01

    Purchasing portfolio models have caused considerable controversy in literature. Many advantages and disadvantages have been put forward, revealing a strong disagreement on the merits of portfolio models. This study addresses the question whether or not the use of purchasing portfolio models should

  12. DSEM, Radioactive Waste Disposal Site Economic Model

    International Nuclear Information System (INIS)

    Smith, P.R.

    2005-01-01

    1 - Description of program or function: The Disposal Site Economic Model calculates the average generator price, or average price per cubic foot charged by a disposal facility to a waste generator, one measure of comparing the economic attractiveness of different waste disposal site and disposal technology combinations. The generator price is calculated to recover all costs necessary to develop, construct, operate, close, and care for a site through the end of the institutional care period and to provide the necessary financial returns to the site developer and lender (when used). Six alternative disposal technologies, based on either private or public financing, can be considered - shallow land disposal, intermediate depth disposal, above or below ground vaults, modular concrete canister disposal, and earth mounded concrete bunkers - based on either private or public development. 2 - Method of solution: The economic models incorporate default cost data from the Conceptual Design Report (DOE/LLW-60T, June 1987), a study by Rodgers Associates Engineering Corporation. Because all costs are in constant 1986 dollars, the figures must be modified to account for inflation. Interest during construction is either capitalized for the private developer or rolled into the loan for the public developer. All capital costs during construction are depreciated over the operation life of the site using straight-line depreciation for the private sector. 3 - Restrictions on the complexity of the problem: Maxima of - 100 years post-operating period, 30 years operating period, 15 years pre-operating period. The model should be used with caution outside the range of 1.8 to 10.5 million cubic feet of total volume. Depreciation is not recognized with public development

  13. Economics, modeling, planning and management of energy

    International Nuclear Information System (INIS)

    Rogner, H.H.; Khan, A.M.; Furlan, G.

    1989-01-01

    The Workshop attended by 89 participants from 40 countries aimed to provide participants with an overview of global and regional issues and to familiarize them with analytical tools and modeling techniques appropriate for the analysis and planning of national energy systems. Emphasis was placed on energy-economy-interaction, modelling for balancing energy demand and supply, technical-economic evaluation of energy supply alternatives and energy demand management. This volume presents some of the lectures delivered at the Workshop. The material has been organized in five parts under the headings General Review of Current Energy Trends, Energy and Technology Menu, Basic Analytical Approaches, Energy Modeling and Planning, and Energy Management and Policy. A separate abstract was prepared for each of the lectures presented. Refs, figs and tabs

  14. Forecasting models for national economic planning

    CERN Document Server

    Heesterman, A R G

    1972-01-01

    This book is about the specification of linear econometric models, and for this reason some important related fields have been deliberately omitted. I did not want to discuss the problems of parameter-estimation, at least not in any detail, as there are other books on these problems written by specialized statisticians. This book is about the models them­ selves and macro-economic models in particular. A second related sub­ ject is the policy decision that can be made with the help of a model. While I did write a chapter on policy decisions, I limited myself to some extent because of my views on planning as such. The logical approach to this problem is in terms of mathematical programming, but our models and our ideas about the policies we want are too crude for its effective utilisation. A realistic formulation of the problem should involve non­ linearities in an essential way, the models I consider (and most existing models) are linear. At the present state of econometrics, I do not really believe in suc...

  15. Economic Modeling Considerations for Rare Diseases.

    Science.gov (United States)

    Pearson, Isobel; Rothwell, Ben; Olaye, Andrew; Knight, Christopher

    2018-05-01

    To identify challenges that affect the feasibility and rigor of economic models in rare diseases and strategies that manufacturers have employed in health technology assessment submissions to demonstrate the value of new orphan products that have limited study data. Targeted reviews of PubMed, the National Institute for Health and Care Excellence's (NICE's) Highly Specialised Technologies (HST), and the Scottish Medicines Consortium's (SMC's) ultra-orphan submissions were performed. A total of 19 PubMed studies, 3 published NICE HSTs, and 11 ultra-orphan SMC submissions were eligible for inclusion. In rare diseases, a number of different factors may affect the model's ability to comply with good practice recommendations. Many products for the treatment of rare diseases have an incomplete efficacy and safety profile at product launch. In addition, there is often limited available natural history and epidemiology data. Information on the direct and indirect cost burden of an orphan disease also may be limited, making it difficult to estimate the potential economic benefit of treatment. These challenges can prevent accurate estimation of a new product's benefits in relation to costs. Approaches that can address such challenges include using patient and/or clinician feedback to inform model assumptions; data from disease analogues; epidemiological techniques, such as matching-adjusted indirect comparison; and long-term data collection. Modeling in rare diseases is often challenging; however, a number of approaches are available to support the development of model structures and the collation of input parameters and to manage uncertainty. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  16. Economic modelling with low-cognition agents

    Science.gov (United States)

    Ormerod, Paul

    2006-10-01

    The standard socio-economic model (SSSM) postulates very considerable cognitive powers on the part of its agents. They are able to gather all relevant information in any given situation, and to take the optimal decision on the basis of it, given their tastes and preferences. This behavioural rule is postulated to be universal. The concept of bounded rationality relaxes this somewhat, by permitting agents to have access to only limited amounts of information. But agents still optimise subject to their information set and tastes. Empirical work in economics over the past 20 years or so has shown that in general these behavioural postulates lack empirical validity. Instead, agents appear to have limited ability to gather information, and use simple rules of thumb to process the information which they have in order to take decisions. Building theoretical models on these realistic foundations which give better accounts of empirical phenomena than does the SSSM is an important challenge to both economists and econophysicists. Considerable progress has already been made in a short space of time, and examples are given in this paper.

  17. USING GEM - GLOBAL ECONOMIC MODEL IN ACHIEVING A GLOBAL ECONOMIC FORECAST

    Directory of Open Access Journals (Sweden)

    Camelia Madalina Orac

    2013-12-01

    Full Text Available The global economic development model has proved to be insufficiently reliable under the new economic crisis. As a result, the entire theoretical construction about the global economy needs rethinking and reorientation. In this context, it is quite clear that only through effective use of specific techniques and tools of economic-mathematical modeling, statistics, regional analysis and economic forecasting it is possible to obtain an overview of the future economy.

  18. Does Investors' Sophistication Affect Persistence and Pricing of Discretionary Accruals?

    OpenAIRE

    Lanfeng Kao

    2007-01-01

    This paper examines whether the sophistication of market investors influences management's strategy on discretionary accounting choice, and thus changes the persistence of discretionary accruals. The results show that the persistence of discretionary accruals for firms face with naive investors is lower than that for firms face with sophisticated investors. The results also demonstrate that sophisticated investors indeed incorporate the implications of current earnings components into future ...

  19. A predictive modeling approach to increasing the economic effectiveness of disease management programs.

    Science.gov (United States)

    Bayerstadler, Andreas; Benstetter, Franz; Heumann, Christian; Winter, Fabian

    2014-09-01

    Predictive Modeling (PM) techniques are gaining importance in the worldwide health insurance business. Modern PM methods are used for customer relationship management, risk evaluation or medical management. This article illustrates a PM approach that enables the economic potential of (cost-) effective disease management programs (DMPs) to be fully exploited by optimized candidate selection as an example of successful data-driven business management. The approach is based on a Generalized Linear Model (GLM) that is easy to apply for health insurance companies. By means of a small portfolio from an emerging country, we show that our GLM approach is stable compared to more sophisticated regression techniques in spite of the difficult data environment. Additionally, we demonstrate for this example of a setting that our model can compete with the expensive solutions offered by professional PM vendors and outperforms non-predictive standard approaches for DMP selection commonly used in the market.

  20. Limitations of JEDI Models | Jobs and Economic Development Impact Models |

    Science.gov (United States)

    Group's IMPLAN accounting software. For JEDI, these are updated every two years for the best available -output modeling remains a widely used methodology for measuring economic development activity. Definition definition of the geographic area under consideration. Datasets of multipliers from IMPLAN are available at

  1. Simulation of electric power conservation strategies: model of economic evaluation

    International Nuclear Information System (INIS)

    Pinhel, A.C.C.

    1992-01-01

    A methodology for the economic evaluation model for energy conservation programs to be executed by the National Program of Electric Power Conservation is presented. From data as: forecasting of conserved energy, tariffs, energy costs and budget, the model calculates the economic indexes for the programs, allowing the evaluation of economic impacts in the electric sector. (C.G.C.)

  2. An Alternative Macro-economic Model for the Classroom

    Science.gov (United States)

    Holmes, Bryan

    1976-01-01

    Presents Michal Kalecki's macro-economic model and two-sector version of the model by Robinson and Eatwell as circular flow diagrams. Advantages of using this approach in first-year undergraduate economics programs are discussed. Available from: General Secretary, Economics Association, Room 340, Hamilton House, Mabledon Place, London WC1H 9BH,…

  3. Roman sophisticated surface modification methods to manufacture silver counterfeited coins

    Science.gov (United States)

    Ingo, G. M.; Riccucci, C.; Faraldi, F.; Pascucci, M.; Messina, E.; Fierro, G.; Di Carlo, G.

    2017-11-01

    By means of the combined use of X-ray photoelectron spectroscopy (XPS), optical microscopy (OM) and scanning electron microscopy (SEM) coupled with energy dispersive X-ray spectroscopy (EDS) the surface and subsurface chemical and metallurgical features of silver counterfeited Roman Republican coins are investigated to decipher some aspects of the manufacturing methods and to evaluate the technological ability of the Roman metallurgists to produce thin silver coatings. The results demonstrate that over 2000 ago important advances in the technology of thin layer deposition on metal substrates were attained by Romans. The ancient metallurgists produced counterfeited coins by combining sophisticated micro-plating methods and tailored surface chemical modification based on the mercury-silvering process. The results reveal that Romans were able systematically to chemically and metallurgically manipulate alloys at a micro scale to produce adherent precious metal layers with a uniform thickness up to few micrometers. The results converge to reveal that the production of forgeries was aimed firstly to save expensive metals as much as possible allowing profitable large-scale production at a lower cost. The driving forces could have been a lack of precious metals, an unexpected need to circulate coins for trade and/or a combinations of social, political and economic factors that requested a change in money supply. Finally, some information on corrosion products have been achieved useful to select materials and methods for the conservation of these important witnesses of technology and economy.

  4. Automatically Assessing Lexical Sophistication: Indices, Tools, Findings, and Application

    Science.gov (United States)

    Kyle, Kristopher; Crossley, Scott A.

    2015-01-01

    This study explores the construct of lexical sophistication and its applications for measuring second language lexical and speaking proficiency. In doing so, the study introduces the Tool for the Automatic Analysis of LExical Sophistication (TAALES), which calculates text scores for 135 classic and newly developed lexical indices related to word…

  5. The Impact of Financial Sophistication on Adjustable Rate Mortgage Ownership

    Science.gov (United States)

    Smith, Hyrum; Finke, Michael S.; Huston, Sandra J.

    2011-01-01

    The influence of a financial sophistication scale on adjustable-rate mortgage (ARM) borrowing is explored. Descriptive statistics and regression analysis using recent data from the Survey of Consumer Finances reveal that ARM borrowing is driven by both the least and most financially sophisticated households but for different reasons. Less…

  6. The role of sophisticated accounting system in strategy management

    OpenAIRE

    Naranjo Gil, David

    2004-01-01

    Organizations are designing more sophisticated accounting information systems to meet the strategic goals and enhance their performance. This study examines the effect of accounting information system design on the performance of organizations pursuing different strategic priorities. The alignment between sophisticated accounting information systems and organizational strategy is analyzed. The enabling effect of the accounting information system on performance is also examined. Relationships ...

  7. Probabilistic Sophistication, Second Order Stochastic Dominance, and Uncertainty Aversion

    OpenAIRE

    Simone Cerreia-Vioglio; Fabio Maccheroni; Massimo Marinacci; Luigi Montrucchio

    2010-01-01

    We study the interplay of probabilistic sophistication, second order stochastic dominance, and uncertainty aversion, three fundamental notions in choice under uncertainty. In particular, our main result, Theorem 2, characterizes uncertainty averse preferences that satisfy second order stochastic dominance, as well as uncertainty averse preferences that are probabilistically sophisticated.

  8. The First Sophists and the Uses of History.

    Science.gov (United States)

    Jarratt, Susan C.

    1987-01-01

    Reviews the history of intellectual views on the Greek sophists in three phases: (1) their disparagement by Plato and Aristotle as the morally disgraceful "other"; (2) nineteenth century British positivists' reappraisal of these relativists as ethically and scientifically superior; and (3) twentieth century versions of the sophists as…

  9. International Jobs and Economic Development Impacts (I-JEDI) Model

    Energy Technology Data Exchange (ETDEWEB)

    2016-09-01

    International Jobs and Economic Development Impacts (I-JEDI) is a freely available economic model that estimates gross economic impacts from wind, solar, biomass, and geothermal energy projects. Building on a similar model for the United States, I-JEDI was developed by the National Renewable Energy Laboratory under the U.S. government's Enhancing Capacity for Low Emission Development Strategies (EC-LEDS) program to support partner countries in assessing economic impacts of LEDS actions in the energy sector.

  10. The impact of the British model on economic growth

    Directory of Open Access Journals (Sweden)

    Simon György Jr.

    2007-01-01

    Full Text Available The paper is searching for an answer to the question how the British model affected economic development in its mother country, the United Kingdom. The statistical analysis, models of mathematical economics and econometric investigation make it probable to conclude that there was a substantial difference in success between the Thatcherite and the Blairite economic policies; the latter proved more effective. It is particularly remarkable that the Blairite model, connecting privatization with a successful employment policy, reduced unemployment and social sensitivity, has not only speeded up economic growth but also improved economic equilibrium, curtailing, among others, the budget deficit.

  11. Advanced Small Modular Reactor Economics Model Development

    Energy Technology Data Exchange (ETDEWEB)

    Harrison, Thomas J [ORNL

    2014-10-01

    The US Department of Energy Office of Nuclear Energy’s Advanced Small Modular Reactor (SMR) research and development activities focus on four key areas: Developing assessment methods for evaluating advanced SMR technologies and characteristics; and Developing and testing of materials, fuels and fabrication techniques; and Resolving key regulatory issues identified by US Nuclear Regulatory Commission and industry; and Developing advanced instrumentation and controls and human-machine interfaces. This report focuses on development of assessment methods to evaluate advanced SMR technologies and characteristics. Specifically, this report describes the expansion and application of the economic modeling effort at Oak Ridge National Laboratory. Analysis of the current modeling methods shows that one of the primary concerns for the modeling effort is the handling of uncertainty in cost estimates. Monte Carlo–based methods are commonly used to handle uncertainty, especially when implemented by a stand-alone script within a program such as Python or MATLAB. However, a script-based model requires each potential user to have access to a compiler and an executable capable of handling the script. Making the model accessible to multiple independent analysts is best accomplished by implementing the model in a common computing tool such as Microsoft Excel. Excel is readily available and accessible to most system analysts, but it is not designed for straightforward implementation of a Monte Carlo–based method. Using a Monte Carlo algorithm requires in-spreadsheet scripting and statistical analyses or the use of add-ons such as Crystal Ball. An alternative method uses propagation of error calculations in the existing Excel-based system to estimate system cost uncertainty. This method has the advantage of using Microsoft Excel as is, but it requires the use of simplifying assumptions. These assumptions do not necessarily bring into question the analytical results. In fact, the

  12. A statistical mechanical model of economics

    Science.gov (United States)

    Lubbers, Nicholas Edward Williams

    Statistical mechanics pursues low-dimensional descriptions of systems with a very large number of degrees of freedom. I explore this theme in two contexts. The main body of this dissertation explores and extends the Yard Sale Model (YSM) of economic transactions using a combination of simulations and theory. The YSM is a simple interacting model for wealth distributions which has the potential to explain the empirical observation of Pareto distributions of wealth. I develop the link between wealth condensation and the breakdown of ergodicity due to nonlinear diffusion effects which are analogous to the geometric random walk. Using this, I develop a deterministic effective theory of wealth transfer in the YSM that is useful for explaining many quantitative results. I introduce various forms of growth to the model, paying attention to the effect of growth on wealth condensation, inequality, and ergodicity. Arithmetic growth is found to partially break condensation, and geometric growth is found to completely break condensation. Further generalizations of geometric growth with growth in- equality show that the system is divided into two phases by a tipping point in the inequality parameter. The tipping point marks the line between systems which are ergodic and systems which exhibit wealth condensation. I explore generalizations of the YSM transaction scheme to arbitrary betting functions to develop notions of universality in YSM-like models. I find that wealth vi condensation is universal to a large class of models which can be divided into two phases. The first exhibits slow, power-law condensation dynamics, and the second exhibits fast, finite-time condensation dynamics. I find that the YSM, which exhibits exponential dynamics, is the critical, self-similar model which marks the dividing line between the two phases. The final chapter develops a low-dimensional approach to materials microstructure quantification. Modern materials design harnesses complex

  13. REFERENCE MODELS OF ENDOGENOUS ECONOMIC GROWTH

    OpenAIRE

    GEAMĂNU MARINELA

    2012-01-01

    The new endogenous growth theories are a very important research area for shaping the most effective policies and long term sustainable development strategies. Endogenous growth theory has emerged as a reaction to the imperfections of neoclassical theory, by the fact that the economic growth is the endogenous product of an economical system.

  14. Environmental flows in hydro-economic models

    Science.gov (United States)

    Pereau, Jean-Christophe; Pryet, Alexandre

    2018-03-01

    The protection of environmental flows, as a management objective for a regulating agency, needs to be consistent with the aquifer water balance and the degree of resource renewability. A stylized hydro-economic model is used where natural recharge, which sustains environmental flows, is considered both in the aquifer water budget and in the welfare function as ecosystem damage. Groundwater recharge and the associated natural drainage may be neglected for aquifers containing fossil water, where the groundwater is mined. However, when dealing with an aquifer that constitutes a renewable resource, for which recharge is not negligible, natural drainage should explicitly appear in the water budget. In doing so, the optimum path of net extraction rate does not necessarily converge to the recharge rate, but depends on the costs associated with ecosystem damages. The optimal paths and equilibrium values for the water volume and water extraction are analytically derived, and numerical simulations based on the Western La Mancha aquifer (southwest Spain) illustrate the theoretical results of the study.

  15. Economic contract theory tests models of mutualism.

    Science.gov (United States)

    Weyl, E Glen; Frederickson, Megan E; Yu, Douglas W; Pierce, Naomi E

    2010-09-07

    Although mutualisms are common in all ecological communities and have played key roles in the diversification of life, our current understanding of the evolution of cooperation applies mostly to social behavior within a species. A central question is whether mutualisms persist because hosts have evolved costly punishment of cheaters. Here, we use the economic theory of employment contracts to formulate and distinguish between two mechanisms that have been proposed to prevent cheating in host-symbiont mutualisms, partner fidelity feedback (PFF) and host sanctions (HS). Under PFF, positive feedback between host fitness and symbiont fitness is sufficient to prevent cheating; in contrast, HS posits the necessity of costly punishment to maintain mutualism. A coevolutionary model of mutualism finds that HS are unlikely to evolve de novo, and published data on legume-rhizobia and yucca-moth mutualisms are consistent with PFF and not with HS. Thus, in systems considered to be textbook cases of HS, we find poor support for the theory that hosts have evolved to punish cheating symbionts; instead, we show that even horizontally transmitted mutualisms can be stabilized via PFF. PFF theory may place previously underappreciated constraints on the evolution of mutualism and explain why punishment is far from ubiquitous in nature.

  16. An Alternative Theoretical Model for Economic Reforms in Africa ...

    African Journals Online (AJOL)

    This paper offers an alternative model for economic reforms in Africa. It proposes that Africa can still get on the pathway of sustained economic growth if economic reforms can focus on a key variable, namely, the price of non-tradables. Prices of non-tradables are generally less in Africa than in advanced economies, and the ...

  17. Proof of Economic Viability of Blended Learning Business Models

    Science.gov (United States)

    Druhmann, Carsten; Hohenberg, Gregor

    2014-01-01

    The discussion on economically sustainable business models with respect to information technology is lacking in many aspects of proven approaches. In the following contribution the economic viability is valued based on a procedural model for design and evaluation of e-learning business models in the form of a case study. As a case study object a…

  18. PAUL AND SOPHISTIC RHETORIC: A PERSPECTIVE ON HIS ...

    African Journals Online (AJOL)

    use of modern rhetorical theories but analyses the letter in terms of the clas- ..... If a critical reader would have had the traditional anti-sophistic arsenal ..... pressions and that 'rhetoric' is mainly a matter of communicating these thoughts.

  19. Modeling Renewable Penertration Using a Network Economic Model

    Science.gov (United States)

    Lamont, A.

    2001-03-01

    This paper evaluates the accuracy of a network economic modeling approach in designing energy systems having renewable and conventional generators. The network approach models the system as a network of processes such as demands, generators, markets, and resources. The model reaches a solution by exchanging prices and quantity information between the nodes of the system. This formulation is very flexible and takes very little time to build and modify models. This paper reports an experiment designing a system with photovoltaic and base and peak fossil generators. The level of PV penetration as a function of its price and the capacities of the fossil generators were determined using the network approach and using an exact, analytic approach. It is found that the two methods agree very closely in terms of the optimal capacities and are nearly identical in terms of annual system costs.

  20. Economic modeling for life extension decision making

    International Nuclear Information System (INIS)

    Farber, M.A.; Harrison, D.L.; Carlson, D.D.

    1986-01-01

    This paper presents a methodology for the economic and financial analysis of nuclear plant life extension under uncertainty and demonstrates its use in a case analysis. While the economic and financial evaluation of life extension does not require new analytical tools, such studies should be based on the following three premises. First, the methodology should examine effects at the level of the company or utility system, because the most important economic implications of life extension relate to the altered generation system expansion plan. Second, it should focus on the implications of uncertainty in order to understand the factors that most affect life extension benefits and identify risk management efforts. Third, the methodology should address multiple objectives, at a minimum, both economic and financial objectives

  1. A high-flow nasal cannula system with relatively low flow effectively washes out CO2 from the anatomical dead space in a sophisticated respiratory model made by a 3D printer.

    Science.gov (United States)

    Onodera, Yu; Akimoto, Ryo; Suzuki, Hiroto; Okada, Masayuki; Nakane, Masaki; Kawamae, Kaneyuki

    2018-03-15

    Although clinical studies of the high-flow nasal cannula (HFNC) and its effect on positive end-expiratory pressure (PEEP) have been done, the washout effect has not been well evaluated. Therefore, we made an experimental respiratory model to evaluate the respiratory physiological effect of HFNC. An airway model was made by a 3D printer using the craniocervical 3D-CT data of a healthy 32-year-old male. CO 2 was infused into four respiratory lung models (normal-lung, open- and closed-mouth models; restrictive- and obstructive-lung, open-mouth models) to maintain the partial pressure of end-tidal CO 2 (P ET CO 2 ) at 40 mmHg. HFNC flow was changed from 10 to 60 L/min. Capnograms were recorded at the upper pharynx, oral cavity, subglottic, and inlet sites of each lung model. With the normal-lung, open-mouth model, 10 L/min of HFNC flow decreased the subglottic P ET CO 2 to 30 mmHg. Increasing the HFNC flow did not further decrease the subglottic P ET CO 2 . With the normal-lung, closed-mouth model, HFNC flow of 40 L/min was required to decrease the P ET CO 2 at all sites. Subglottic P ET CO 2 reached 30 mmHg with an HFNC flow of 60 L/min. In the obstructive-lung, open-mouth model, P ET CO 2 at all sites had the same trend as in the normal-lung, open-mouth model. In the restrictive-lung, open-mouth model, 20 L/min of HFNC flow decreased the subglottic P ET CO 2 to 25 mmHg, and it did not decrease further. As HFNC flow was increased, PEEP up to 7 cmH 2 O was gradually generated in the open-mouth models and up to 17 cmH 2 O in the normal-lung, closed-mouth model. The washout effect of the HFNC was effective with relatively low flow in the open-mouth models. The closed-mouth model needed more flow to generate a washout effect. Therefore, HFNC flow should be considered based on the need for the washout effect or PEEP.

  2. Conceptual model of management steadfast economic development production-economic systems

    OpenAIRE

    Prokhorova, V.

    2010-01-01

    The article is devoted developments of conceptual model of management proof economic development of the industrialeconomy systems. Features are certain, the algorithm of impulse is offered and intercommunication of contours of management proof economic development of the industrialeconomy systems is investigational

  3. Is our economic model compatible with sustainable development?

    DEFF Research Database (Denmark)

    Røpke, Inge

    2003-01-01

    The paper concerns the contradictions between sustainability and the present economic growth model. The discussion relates to the work of Jan Otto Andersson.......The paper concerns the contradictions between sustainability and the present economic growth model. The discussion relates to the work of Jan Otto Andersson....

  4. Economic assessment model architecture for AGC/AVLIS selection

    International Nuclear Information System (INIS)

    Hoglund, R.L.

    1984-01-01

    The economic assessment model architecture described provides the flexibility and completeness in economic analysis that the selection between AGC and AVLIS demands. Process models which are technology-specific will provide the first-order responses of process performance and cost to variations in process parameters. The economics models can be used to test the impacts of alternative deployment scenarios for a technology. Enterprise models provide global figures of merit for evaluating the DOE perspective on the uranium enrichment enterprise, and business analysis models compute the financial parameters from the private investor's viewpoint

  5. Static and dynamic models in economics

    Science.gov (United States)

    Safiullin, N. Z.; Safiullin, B. L.

    2018-05-01

    In this article, the authors consider the impact of information and advertising on consumer behavior and the process of producing differentiation formation. Advertising, television, radio, magazines and direct mail as major constraints of mass media may act as sources of information. Economic modernization is aimed at development of acceleration of the knowledge intensive industries, which contribute to Russia’s position in terms of the world economy; the recovering process of the Russian economic manufacturing base; development of import substitution industries and limited participation in international labor specialization.

  6. Modeling the Economic Behavior of Households within the Context of Development of Economic Thought

    Directory of Open Access Journals (Sweden)

    Ivanov Roman V.

    2017-04-01

    Full Text Available The main purpose of the publication is to study formation of the household economic behavior modeling in the context of development of economic thought and methods of the economic-mathematical modeling. The study was carried out under the assumption that, when studying the development of theoretical and methodological foundations of the economic behavior of households one must take into account not only the history of development of economic theory, but also the transformation of attitudes in other areas of human knowledge, in particular the paradigm shift in scientific thinking. It has been specified that the massive use of mathematical methods in economics is associated with formation of the marginal theory and at the same time – with the proliferation of the marginal analysis. At the present stage, the economic behavior of households is being analyzed in the terms of concepts such as neoclassicism, institutionalism and behaviorism. But by dividing the concepts of «individual» and «household», it can be argued that precisely the institutionalism in conjunction with synergistic approach provide the basis for elaboration of strategies for the economic behavior of households, ensuring their economic security.

  7. Modelling management process of key drivers for economic sustainability in the modern conditions of economic development

    Directory of Open Access Journals (Sweden)

    Pishchulina E.S.

    2017-01-01

    Full Text Available The text is about issues concerning the management of driver for manufacturing enterprise economic sustainability and manufacturing enterprise sustainability assessment as the key aspect of the management of enterprise economic sustainability. The given issues become topical as new requirements for the methods of manufacturing enterprise management in the modern conditions of market economy occur. An economic sustainability model that is considered in the article is an integration of enterprise economic growth, economic balance of external and internal environment and economic sustainability. The method of assessment of economic sustainability of a manufacturing enterprise proposed in the study allows to reveal some weaknesses in the enterprise performance, and untapped reserves, which can be further used to improve the economic sustainability and efficiency of the enterprise. The management of manufacturing enterprise economic sustainability is one of the most important factors of business functioning and development in modern market economy. The relevance of this trend is increasing in accordance with the objective requirements of the growing volumes of production and sale, the increasing complexity of economic relations, changing external environment of an enterprise.

  8. The Structured Intuitive Model for Product Line Economics (SIMPLE)

    National Research Council Canada - National Science Library

    Clements, Paul C; McGregor, John D; Cohen, Sholom G

    2005-01-01

    .... This report presents the Structured Intuitive Model of Product Line Economics (SIMPLE), a general-purpose business model that supports the estimation of the costs and benefits in a product line development organization...

  9. Economic modeling and energy policy planning. [technology transfer, market research

    Science.gov (United States)

    Thompson, R. G.; Schwartz, A., Jr.; Lievano, R. J.; Stone, J. C.

    1974-01-01

    A structural economic model is presented for estimating the demand functions for natural gas and crude oil in industry and in steam electric power generation. Extensions of the model to other commodities are indicated.

  10. Economic management model of nuclear power plant research institute

    International Nuclear Information System (INIS)

    Schultz, O.

    1993-01-01

    Brief information about the development of economic management and processing of economic information in the Nuclear Power Plants Research Institute Trnava is given in the paper. The existing economic management model of the Institute impacts positively the fulfillment of economic indicators. When applying this model, activities of individual divisions are emphasized and presentation of the Institute as a global professional capacity is suppressed. With regards to this influence, it will be necessary to look for such system elements that will impact the integrity of the Institute in the future period positively

  11. Models of the Economic Growth and their Relevance

    Directory of Open Access Journals (Sweden)

    Nicolae MOROIANU

    2012-06-01

    Full Text Available Until few years ago, the economic growth was something perfect normal, part of an era marked by the transformation speed. Normality itself has been transformed and we currently are influenced by other rules, unknown yet, which should answer the question: “How do we return to the economic growth?” The economic growth and the models aiming to solve this problem concern the economic history even since its beginnings. In this paper we would like to find out what is the relevance that the well-known macroeconomic models still have and which might be their applicability level in a framework created by a black swan event type.

  12. [Decision modeling for economic evaluation of health technologies].

    Science.gov (United States)

    de Soárez, Patrícia Coelho; Soares, Marta Oliveira; Novaes, Hillegonda Maria Dutilh

    2014-10-01

    Most economic evaluations that participate in decision-making processes for incorporation and financing of technologies of health systems use decision models to assess the costs and benefits of the compared strategies. Despite the large number of economic evaluations conducted in Brazil, there is a pressing need to conduct an in-depth methodological study of the types of decision models and their applicability in our setting. The objective of this literature review is to contribute to the knowledge and use of decision models in the national context of economic evaluations of health technologies. This article presents general definitions about models and concerns with their use; it describes the main models: decision trees, Markov chains, micro-simulation, simulation of discrete and dynamic events; it discusses the elements involved in the choice of model; and exemplifies the models addressed in national economic evaluation studies of diagnostic and therapeutic preventive technologies and health programs.

  13. Mathematical model comparing of the multi-level economics systems

    Science.gov (United States)

    Brykalov, S. M.; Kryanev, A. V.

    2017-12-01

    The mathematical model (scheme) of a multi-level comparison of the economic system, characterized by the system of indices, is worked out. In the mathematical model of the multi-level comparison of the economic systems, the indicators of peer review and forecasting of the economic system under consideration can be used. The model can take into account the uncertainty in the estimated values of the parameters or expert estimations. The model uses the multi-criteria approach based on the Pareto solutions.

  14. Financial Literacy and Financial Sophistication in the Older Population

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa

    2017-01-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications. PMID:28553191

  15. The conceptualization and measurement of cognitive health sophistication.

    Science.gov (United States)

    Bodie, Graham D; Collins, William B; Jensen, Jakob D; Davis, Lashara A; Guntzviller, Lisa M; King, Andy J

    2013-01-01

    This article develops a conceptualization and measure of cognitive health sophistication--the complexity of an individual's conceptual knowledge about health. Study 1 provides initial validity evidence for the measure--the Healthy-Unhealthy Other Instrument--by showing its association with other cognitive health constructs indicative of higher health sophistication. Study 2 presents data from a sample of low-income adults to provide evidence that the measure does not depend heavily on health-related vocabulary or ethnicity. Results from both studies suggest that the Healthy-Unhealthy Other Instrument can be used to capture variability in the sophistication or complexity of an individual's health-related schematic structures on the basis of responses to two simple open-ended questions. Methodological advantages of the Healthy-Unhealthy Other Instrument and suggestions for future research are highlighted in the discussion.

  16. Financial Literacy and Financial Sophistication in the Older Population.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S; Curto, Vilsa

    2014-10-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.

  17. Agent-based models in economics a toolkit

    CERN Document Server

    Fagiolo, Giorgio; Gallegati, Mauro; Richiardi, Matteo; Russo, Alberto

    2018-01-01

    In contrast to mainstream economics, complexity theory conceives the economy as a complex system of heterogeneous interacting agents characterised by limited information and bounded rationality. Agent Based Models (ABMs) are the analytical and computational tools developed by the proponents of this emerging methodology. Aimed at students and scholars of contemporary economics, this book includes a comprehensive toolkit for agent-based computational economics, now quickly becoming the new way to study evolving economic systems. Leading scholars in the field explain how ABMs can be applied fruitfully to many real-world economic examples and represent a great advancement over mainstream approaches. The essays discuss the methodological bases of agent-based approaches and demonstrate step-by-step how to build, simulate and analyse ABMs and how to validate their outputs empirically using the data. They also present a wide set of applications of these models to key economic topics, including the business cycle, lab...

  18. Fuel modelling and its economical competitiveness

    International Nuclear Information System (INIS)

    Marino, A.C.; Savino, E.J.

    1996-01-01

    Due to reasons of economical competitiveness, there is at present a strong need in the nuclear industry to improve fuel performance under more demanding operating conditions, such as those resulting from an extended burnup. This requires a good understanding of the properties of fuel rod materials and their in-service performance. As it can be easily foreseen, thermal, mechanical and microstructural irradiation effects are strongly interrelated while the fuel is at reactor operating conditions. (author). 7 refs., 16 figs

  19. Environmental problems and economic development in an endogenous fertility model

    OpenAIRE

    Frank Joest; Martin Quaas; Johannes Schiller

    2006-01-01

    Population growth is often viewed as a most oppressive global problem with respect to environmental deterioration, but the relationships between population development, economic dynamics and environmental pollution are complex due to various feedback mechanisms. We analyze society’s economic decisions on birth rates, investment into human and physical capital, and polluting emissions within an optimal control model of the coupled demographic-economic-environmental system. We show that a long-...

  20. HTGR Application Economic Model Users' Manual

    Energy Technology Data Exchange (ETDEWEB)

    A.M. Gandrik

    2012-01-01

    The High Temperature Gas-Cooled Reactor (HTGR) Application Economic Model was developed at the Idaho National Laboratory for the Next Generation Nuclear Plant Project. The HTGR Application Economic Model calculates either the required selling price of power and/or heat for a given internal rate of return (IRR) or the IRR for power and/or heat being sold at the market price. The user can generate these economic results for a range of reactor outlet temperatures; with and without power cycles, including either a Brayton or Rankine cycle; for the demonstration plant, first of a kind, or nth of a kind project phases; for up to 16 reactor modules; and for module ratings of 200, 350, or 600 MWt. This users manual contains the mathematical models and operating instructions for the HTGR Application Economic Model. Instructions, screenshots, and examples are provided to guide the user through the HTGR Application Economic Model. This model was designed for users who are familiar with the HTGR design and Excel and engineering economics. Modification of the HTGR Application Economic Model should only be performed by users familiar with the HTGR and its applications, Excel, and Visual Basic.

  1. Models of economic geography: dynamics, estimation and policy evaluation

    OpenAIRE

    Knaap, Thijs

    2004-01-01

    In this thesis we look at economic geography models from a number of angles. We started by placing the theory in a context of preceding theories, both earlier work on spatial economics and other children of the monopolistic competition ‘revolution.’ Next, we looked at the theoretical properties of these models, especially when we allow firms to have different demand functions for intermediate goods. We estimated the model using a dataset on US states, and computed a number of counterfactuals....

  2. Moving forward socio-economically focused models of deforestation

    OpenAIRE

    DEZÉCACHE CAMILLE; SALLES JEAN-MICHEL; VIEILLEDENT GHISLAIN; HÉRAULT BRUNO

    2017-01-01

    While high resolution spatial variables contribute to a good fit of spatially-explicit deforestation models, socio-economic processes are often beyond the scope of these models. Such a low level of interest in the socio-economic dimension of deforestation limits the relevancy of these models for decision making and may be the cause of their failure to accurately predict observed deforestation trends in the medium term. This study aims to propose a flexible methodology for taking into account ...

  3. Modelling Dynamics of Main Economic Indicators of an Enterprise

    Directory of Open Access Journals (Sweden)

    Sherstennykov Yurii V.

    2014-03-01

    Full Text Available The article develops an economic and mathematical model of dynamics of main economic indicators of an enterprise, reflected in six book-keeping accounts with consideration of logistics and interrelation with current market characteristics and needs of products consumers. It applies this model for a quantitative study of influence of an advertising campaign and seasonality upon quantitative indicators of economic activity of the enterprise. The enterprise operation programme includes internal financial and economic procedures, which ensure the production process, and also connection with suppliers and buyers (customers. When setting different initial conditions, it is possible to trace transitional processes and enterprise entering (under favourable conditions the stationary mode of operation or its laying-off (in case of insufficiency of circulating funds. The developed model contains many parameters, which allow not only study of dependence of enterprise operation on alteration of one of them but also optimisation of economic conditions of functioning.

  4. Models of economic geography : dynamics, estimation and policy evaluation

    NARCIS (Netherlands)

    Knaap, Thijs

    2004-01-01

    In this thesis we look at economic geography models from a number of angles. We started by placing the theory in a context of preceding theories, both earlier work on spatial economics and other children of the monopolistic competition ‘revolution.’ Next, we looked at the theoretical properties of

  5. Modeling ecological and economic systems with STELLA : Part III

    NARCIS (Netherlands)

    Costanza, Robert; Voinov, Alexey

    2001-01-01

    This special issue contains a group of eight modeling studies covering a range of ecological and economic systems and problems. The models were all developed using Stella®, an icon-based software package specifically designed for dynamic systems modeling. Models included in the special issue were

  6. FISHRENT; Bio-economic simulation and optimisation model

    NARCIS (Netherlands)

    Salz, P.; Buisman, F.C.; Soma, K.; Frost, H.; Accadia, P.; Prellezo, R.

    2011-01-01

    Key findings: The FISHRENT model is a major step forward in bio-economic model-ling, combining features that have not been fully integrated in earlier models: 1- Incorporation of any number of species (or stock) and/or fleets 2- Integration of simulation and optimisation over a period of 25 years 3-

  7. Computer models for economic and silvicultural decisions

    Science.gov (United States)

    Rosalie J. Ingram

    1989-01-01

    Computer systems can help simplify decisionmaking to manage forest ecosystems. We now have computer models to help make forest management decisions by predicting changes associated with a particular management action. Models also help you evaluate alternatives. To be effective, the computer models must be reliable and appropriate for your situation.

  8. Finding the Fabulous Few: Why Your Program Needs Sophisticated Research.

    Science.gov (United States)

    Pfizenmaier, Emily

    1981-01-01

    Fund raising, it is argued, needs sophisticated prospect research. Professional prospect researchers play an important role in helping to identify prospective donors and also in helping to stimulate interest in gift giving. A sample of an individual work-up on a donor and a bibliography are provided. (MLW)

  9. Procles the Carthaginian: A North African Sophist in Pausanias’ Periegesis

    Directory of Open Access Journals (Sweden)

    Juan Pablo Sánchez Hernández

    2010-11-01

    Full Text Available Procles, cited by Pausanias (in the imperfect tense about a display in Rome and for an opinion about Pyrrhus of Epirus, probably was not a historian of Hellenistic date, but a contemporary sophist whom Pausanias encountered in person in Rome.

  10. Moving forward socio-economically focused models of deforestation.

    Science.gov (United States)

    Dezécache, Camille; Salles, Jean-Michel; Vieilledent, Ghislain; Hérault, Bruno

    2017-09-01

    Whilst high-resolution spatial variables contribute to a good fit of spatially explicit deforestation models, socio-economic processes are often beyond the scope of these models. Such a low level of interest in the socio-economic dimension of deforestation limits the relevancy of these models for decision-making and may be the cause of their failure to accurately predict observed deforestation trends in the medium term. This study aims to propose a flexible methodology for taking into account multiple drivers of deforestation in tropical forested areas, where the intensity of deforestation is explicitly predicted based on socio-economic variables. By coupling a model of deforestation location based on spatial environmental variables with several sub-models of deforestation intensity based on socio-economic variables, we were able to create a map of predicted deforestation over the period 2001-2014 in French Guiana. This map was compared to a reference map for accuracy assessment, not only at the pixel scale but also over cells ranging from 1 to approximately 600 sq. km. Highly significant relationships were explicitly established between deforestation intensity and several socio-economic variables: population growth, the amount of agricultural subsidies, gold and wood production. Such a precise characterization of socio-economic processes allows to avoid overestimation biases in high deforestation areas, suggesting a better integration of socio-economic processes in the models. Whilst considering deforestation as a purely geographical process contributes to the creation of conservative models unable to effectively assess changes in the socio-economic and political contexts influencing deforestation trends, this explicit characterization of the socio-economic dimension of deforestation is critical for the creation of deforestation scenarios in REDD+ projects. © 2017 John Wiley & Sons Ltd.

  11. Large scale hydro-economic modelling for policy support

    Science.gov (United States)

    de Roo, Ad; Burek, Peter; Bouraoui, Faycal; Reynaud, Arnaud; Udias, Angel; Pistocchi, Alberto; Lanzanova, Denis; Trichakis, Ioannis; Beck, Hylke; Bernhard, Jeroen

    2014-05-01

    To support European Union water policy making and policy monitoring, a hydro-economic modelling environment has been developed to assess optimum combinations of water retention measures, water savings measures, and nutrient reduction measures for continental Europe. This modelling environment consists of linking the agricultural CAPRI model, the LUMP land use model, the LISFLOOD water quantity model, the EPIC water quality model, the LISQUAL combined water quantity, quality and hydro-economic model, and a multi-criteria optimisation routine. With this modelling environment, river basin scale simulations are carried out to assess the effects of water-retention measures, water-saving measures, and nutrient-reduction measures on several hydro-chemical indicators, such as the Water Exploitation Index (WEI), Nitrate and Phosphate concentrations in rivers, the 50-year return period river discharge as an indicator for flooding, and economic losses due to water scarcity for the agricultural sector, the manufacturing-industry sector, the energy-production sector and the domestic sector, as well as the economic loss due to flood damage. Recently, this model environment is being extended with a groundwater model to evaluate the effects of measures on the average groundwater table and available resources. Also, water allocation rules are addressed, while having environmental flow included as a minimum requirement for the environment. Economic functions are currently being updated as well. Recent development and examples will be shown and discussed, as well as open challenges.

  12. Partial differential equation models in the socio-economic sciences

    KAUST Repository

    Burger, Martin; Caffarelli, Luis; Markowich, Peter A.

    2014-01-01

    Mathematical models based on partial differential equations (PDEs) have become an integral part of quantitative analysis in most branches of science and engineering, recently expanding also towards biomedicine and socio-economic sciences

  13. Bifurcations of a class of singular biological economic models

    International Nuclear Information System (INIS)

    Zhang Xue; Zhang Qingling; Zhang Yue

    2009-01-01

    This paper studies systematically a prey-predator singular biological economic model with time delay. It shows that this model exhibits two bifurcation phenomena when the economic profit is zero. One is transcritical bifurcation which changes the stability of the system, and the other is singular induced bifurcation which indicates that zero economic profit brings impulse, i.e., rapid expansion of the population in biological explanation. On the other hand, if the economic profit is positive, at a critical value of bifurcation parameter, the system undergoes a Hopf bifurcation, i.e., the increase of delay destabilizes the system and bifurcates into small amplitude periodic solution. Finally, by using Matlab software, numerical simulations illustrate the effectiveness of the results obtained here. In addition, we study numerically that the system undergoes a saddle-node bifurcation when the bifurcation parameter goes through critical value of positive economic profit.

  14. "Economic microscope": The agent-based model set as an instrument in an economic system research

    Science.gov (United States)

    Berg, D. B.; Zvereva, O. M.; Akenov, Serik

    2017-07-01

    To create a valid model of a social or economic system one must consider a lot of parameters, conditions and restrictions. Systems and, consequently, the corresponding models are proved to be very complicated. The problem of such system model engineering can't be solved only with mathematical methods usage. The decision could be found in computer simulation. Simulation does not reject mathematical methods, mathematical expressions could become the foundation for a computer model. In these materials the set of agent-based computer models is under discussion. All the set models simulate productive agents communications, but every model is geared towards the specific goal, and, thus, has its own algorithm and its own peculiarities. It is shown that computer simulation can discover new features of the agents' behavior that can not be obtained by analytical solvation of mathematical equations and thus plays the role of some kind of economic microscope.

  15. A Discrete Monetary Economic Growth Model with the MIU Approach

    Directory of Open Access Journals (Sweden)

    Wei-Bin Zhang

    2008-01-01

    Full Text Available This paper proposes an alternative approach to economic growth with money. The production side is the same as the Solow model, the Ramsey model, and the Tobin model. But we deal with behavior of consumers differently from the traditional approaches. The model is influenced by the money-in-the-utility (MIU approach in monetary economics. It provides a mechanism of endogenous saving which the Solow model lacks and avoids the assumption of adding up utility over a period of time upon which the Ramsey approach is based.

  16. Models and relations in economics and econometrics

    DEFF Research Database (Denmark)

    Juselius, Katarina

    1999-01-01

    Based on a money market analysis using the cointegrated VAR model the paper demonstrates some possible pitfalls in macroeconomic inference as a direct consequence of inadequate stochastic model formulation. A number of questions related to concepts such as empirical and theoretical steady...

  17. The methodology of energy policy-making in economical models

    Energy Technology Data Exchange (ETDEWEB)

    Poursina, B.

    1998-08-01

    Scrutiny and careful study in energy is a subject that in human science has been investigated from different point of view. The expansion of this research, because of its importance and effect in different dimensions of human life, has also arrived in the field of political and economic sciences. Economics evaluates the energy phenomenon at the side of elements such as labor, capital and technology in the production functions of firms. The nature of these discussions is mainly from the viewpoint of micro analyses. Nevertheless, the variation and challenges concerning energy and environment during the recent decades and the economists` detailed investigations in its analysis and evaluation have led to the arrival of energy discussions in a special shape in macro planning and large economic models. The paper compares various energy models - EFDM, MEDEE, MIDAS and HERMES. This extent of planning and consequently modelling which lacks a background in the processes of economic researches, deals with analysis of energy and economics reacting effects. Modelling of energy-economy interaction and energy policy in modeling macroeconomics large models are new ideas in energy studies and economics. 7 refs., 6 figs., 1 tab.

  18. Modelling the interaction between flooding events and economic growth

    Directory of Open Access Journals (Sweden)

    J. Grames

    2015-06-01

    Full Text Available Socio-hydrology describes the interaction between the socio-economy and water. Recent models analyze the interplay of community risk-coping culture, flooding damage and economic growth (Di Baldassarre et al., 2013; Viglione et al., 2014. These models descriptively explain the feedbacks between socio-economic development and natural disasters like floods. Contrary to these descriptive models, our approach develops an optimization model, where the intertemporal decision of an economic agent interacts with the hydrological system. In order to build this first economic growth model describing the interaction between the consumption and investment decisions of an economic agent and the occurrence of flooding events, we transform an existing descriptive stochastic model into an optimal deterministic model. The intermediate step is to formulate and simulate a descriptive deterministic model. We develop a periodic water function to approximate the former discrete stochastic time series of rainfall events. Due to the non-autonomous exogenous periodic rainfall function the long-term path of consumption and investment will be periodic.

  19. Econometric modelling of economic security in business operations management

    OpenAIRE

    Chagovets, L. О.; Nevezhin, V. P.; Zakharova, О. V.

    2014-01-01

    The article deals with econometric modeling of economic security. The model of evaluating transaction costs effect on the level of enterprise economic security is provided. The econometric models of evaluating economic security that are used in research are based on panel data. According to the results, the reserves for increasing the general level of economic security due to transaction costs reduction are revealed. Розглянуто питання економетричного моделювання економічної безпеки. Предс...

  20. R.M. Solow Adjusted Model of Economic Growth

    Directory of Open Access Journals (Sweden)

    Ion Gh. Rosca

    2007-05-01

    Full Text Available Besides the models of M. Keynes, R.F. Harrod, E. Domar, D. Romer, Ramsey-Cass-Koopmans etc., the R.M. Solow model is part of the category which characterizes the economic growth. The paper proposes the study of the R.M. Solow adjusted model of economic growth, while the adjustment consisting in the model adaptation to the Romanian economic characteristics. The article is the first one from a three paper series dedicated to the macroeconomic modelling theme, using the R.M. Solow model, such as: “Measurement of the economic growth and extensions of the R.M. Solow adjusted model” and “Evolution scenarios at the Romanian economy level using the R.M. Solow adjusted model”. The analysis part of the model is based on the study of the equilibrium to the continuous case with some interpretations of the discreet one, by using the state diagram. The optimization problem at the economic level is also used; it is built up of a specified number of representative consumers and firms in order to reveal the interaction between these elements.

  1. Economic MPC based on LPV model for thermostatically controlled loads

    DEFF Research Database (Denmark)

    Zemtsov, Nikita; Hlava, Jaroslav; Frantsuzova, Galina

    2017-01-01

    Rapid increase of the renewable energy share in electricity production requires optimization and flexibility of the power consumption side. Thermostatically controlled loads (TCLs) have a large potential for regulation service provision. Economic model predictive control (MPC) is an advanced...... control method which can be used to syncronize the power consumption with undispatchable renewable electricity production. Thermal behavior of TCLs can be described by linear models based on energy balance of the system. In some cases, parameters of the model may be time-varying. In this work, we present...... a modified economic MPC based on linear parameter-varying model. In particular, we provide an exact transformation from a standard economic MPC formulation to a linear program. We assume that the variables influencing the model parameters are known (predictable) for the prediction horizon of the controller...

  2. Confronting the Economic Model with the Data

    DEFF Research Database (Denmark)

    Johansen, Søren

    2006-01-01

    methods. When this is not the case, but likelihood methods are applied nonetheless, the result is incorrect inference. In his paper we illustrate the problem of possible incorrect inference with a recent application of a DSGE model to US data (Ireland, 2004). Specifically, this paper discusses two broad...

  3. Economic Models and Algorithms for Distributed Systems

    CERN Document Server

    Neumann, Dirk; Altmann, Jorn; Rana, Omer F

    2009-01-01

    Distributed computing models for sharing resources such as Grids, Peer-to-Peer systems, or voluntary computing are becoming increasingly popular. This book intends to discover fresh avenues of research and amendments to existing technologies, aiming at the successful deployment of commercial distributed systems

  4. ECONOMIC AND MATHEMATICAL MODELING INNOVATION SYSTEMS

    Directory of Open Access Journals (Sweden)

    D.V. Makarov

    2014-06-01

    Full Text Available The paper presents one of the mathematical tools for modeling innovation processes. With the help of Kondratieff long waves can define innovation cycles. However, complexity of the innovation system implies a qualitative description. The article describes the problems of this area of research.

  5. Economic Modeling and Analysis of Educational Vouchers

    Science.gov (United States)

    Epple, Dennis; Romano, Richard

    2012-01-01

    The analysis of educational vouchers has evolved from market-based analogies to models that incorporate distinctive features of the educational environment. These distinctive features include peer effects, scope for private school pricing and admissions based on student characteristics, the linkage of household residential and school choices in…

  6. Essays on model averaging and political economics

    NARCIS (Netherlands)

    Wang, W.

    2013-01-01

    This thesis first investigates various issues related with model averaging, and then evaluates two policies, i.e. West Development Drive in China and fiscal decentralization in U.S, using econometric tools. Chapter 2 proposes a hierarchical weighted least squares (HWALS) method to address multiple

  7. Development Strategies for Tourism Destinations: Tourism Sophistication vs. Resource Investments

    OpenAIRE

    Rainer Andergassen; Guido Candela

    2010-01-01

    This paper investigates the effectiveness of development strategies for tourism destinations. We argue that resource investments unambiguously increase tourism revenues and that increasing the degree of tourism sophistication, that is increasing the variety of tourism related goods and services, increases tourism activity and decreases the perceived quality of the destination's resource endowment, leading to an ambiguous effect on tourism revenues. We disentangle these two effects and charact...

  8. The Relationship between Logistics Sophistication and Drivers of the Outsourcing of Logistics Activities

    Directory of Open Access Journals (Sweden)

    Peter Wanke

    2008-10-01

    Full Text Available A strong link has been established between operational excellence and the degree of sophistication of logistics organization, a function of factors such as performance monitoring, investment in Information Technology [IT] and the formalization of logistics organization, as proposed in the Bowersox, Daugherty, Dröge, Germain and Rogers (1992 Leading Edge model. At the same time, shippers have been increasingly outsourcing their logistics activities to third party providers. This paper, based on a survey with large Brazilian shippers, addresses a gap in the literature by investigating the relationship between dimensions of logistics organization sophistication and drivers of logistics outsourcing. To this end, the dimensions behind the logistics sophistication construct were first investigated. Results from factor analysis led to the identification of six dimensions of logistics sophistication. By means of multivariate logistical regression analyses it was possible to relate some of these dimensions, such as the formalization of the logistics organization, to certain drivers of the outsourcing of logistics activities of Brazilian shippers, such as cost savings. These results indicate the possibility of segmenting shippers according to characteristics of their logistics organization, which may be particularly useful to logistics service providers.

  9. Generic modelling framework for economic analysis of battery systems

    DEFF Research Database (Denmark)

    You, Shi; Rasmussen, Claus Nygaard

    2011-01-01

    opportunities, a generic modelling framework is proposed to handle this task. This framework outlines a set of building blocks which are necessary for carrying out the economic analysis of various BS applications. Further, special focus is given on describing how to use the rainflow cycle counting algorithm...... for battery cycle life estimation, since the cycle life plays a central role in the economic analysis of BS. To illustrate the modelling framework, a case study using a Sodium Sulfur Battery (NAS) system with 5-minute regulating service is performed. The economic performances of two dispatch scenarios, a so......Deregulated electricity markets provide opportunities for Battery Systems (BS) to participate in energy arbitrage and ancillary services (regulation, operating reserves, contingency reserves, voltage regulation, power quality etc.). To evaluate the economic viability of BS with different business...

  10. Migration modelling in the New Economic Geography

    OpenAIRE

    Camacho Pérez, Maria del Carmen

    2010-01-01

    The benchmark of this paper is the Fujita and Thisse (2002) core-periphery model, which adds a R&D sector with skilled labor to create new varieties for the modern sector. The number of R&D firms increases not only with the number of existing patents and knowledge spillovers but also with the number of skilled workers who can migrate and choose theregion offering the better lifetime salary.The main objective of the present work is to analyse the long-term consequences of the choice of the mig...

  11. CRISP. Information Security Models and Their Economics

    International Nuclear Information System (INIS)

    Gustavsson, R.; Mellstrand, P.; Tornqvist, B.

    2005-03-01

    The deliverable D1.6 includes background material and specifications of a CRISP Framework on protection of information assets related to power net management and management of business operations related to energy services. During the project it was discovered by the CRISP consortium that the original description of WP 1.6 was not adequate for the project as such. The main insight was that the original emphasis on cost-benefit analysis of security protection measures was to early to address in the project. This issue is of course crucial in itself but requires new models of consequence analysis that still remains to be developed, especially for the new business models we are investigated in the CRISP project. The updated and approved version of the WP1.6 description, together with the also updated WP2.4 focus on Dependable ICT support of Power Grid Operations constitutes an integrated approach towards dependable and secure future utilities and their business processes. This document (D1.6) is a background to deliverable D2.4. Together they provide a dependability and security framework to the three CRISP experiments in WP3

  12. An economic model of amniocentesis choice.

    Science.gov (United States)

    Fajnzylber, Eduardo; Hotz, V Joseph; Sanders, Seth G

    2010-03-01

    Medical practitioners typically utilize the following protocol when advising pregnant women about testing for the possibility of genetic disorders with their fetus: Pregnant women over the age of 35 should be tested for Down syndrome and other genetic disorders, while for younger women, such tests are discouraged (or not discussed) as the test can cause a pregnancy to miscarry. The logic appears compelling. The rate at which amniocentesis causes a pregnancy to miscarry is constant while the rate of genetic disorder rises substantially over a woman's reproductive years. Hence the potential benefit from testing - being able to terminate a fetus that is known to have a genetic disorder - rises with maternal age. This article argues that this logic is incomplete. While the benefits to testing do rise with age, the costs rise as well. Undergoing an amniocentesis always entails the risk of inducing a miscarriage of a healthy fetus. However, these costs are lower at early ages, because there is a higher probability of being able to replace a miscarried fetus with a healthy birth at a later age. We develop and calibrate a dynamic model of amniocentesis choice to explore this tradeoff. For parameters that characterize realistic age patterns of chromosomal abnormalities, fertility rates and miscarriages following amniocentesis, our model implies a falling, rather than rising, rate of amniocentesis as women approach menopause.

  13. Economic Modeling as a Component of Academic Strategic Planning.

    Science.gov (United States)

    MacKinnon, Joyce; Sothmann, Mark; Johnson, James

    2001-01-01

    Computer-based economic modeling was used to enable a school of allied health to define outcomes, identify associated costs, develop cost and revenue models, and create a financial planning system. As a strategic planning tool, it assisted realistic budgeting and improved efficiency and effectiveness. (Contains 18 references.) (SK)

  14. Modeling and forecasting mortality with economic growth : a multipopulation approach

    NARCIS (Netherlands)

    Boonen, T.J.; Li, H.

    2017-01-01

    Research on mortality modeling of multiple populations focuses mainly on extrapolating past mortality trends and summarizing these trends by one or more common latent factors. This article proposes a multipopulation stochastic mortality model that uses the explanatory power of economic growth. In

  15. Economic modelling of pork production-marketing chains

    NARCIS (Netherlands)

    Ouden, den M.

    1996-01-01

    The research described in this thesis was focused on the development of economic simulation and optimization computer models to support decision making with respect to pork production- marketing chains. The models include three production stages: pig farrowing, pig fattening and pig slaughtering

  16. Activity-Based Costing Model for Assessing Economic Performance.

    Science.gov (United States)

    DeHayes, Daniel W.; Lovrinic, Joseph G.

    1994-01-01

    An economic model for evaluating the cost performance of academic and administrative programs in higher education is described. Examples from its application at Indiana University-Purdue University Indianapolis are used to illustrate how the model has been used to control costs and reengineer processes. (Author/MSE)

  17. Criteria for comparing economic impact models of tourism

    NARCIS (Netherlands)

    Klijs, J.; Heijman, W.J.M.; Korteweg Maris, D.; Bryon, J.

    2012-01-01

    There are substantial differences between models of the economic impacts of tourism. Not only do the nature and precision of results vary, but data demands, complexity and underlying assumptions also differ. Often, it is not clear whether the models chosen are appropriate for the specific situation

  18. Building Better Ecological Machines: Complexity Theory and Alternative Economic Models

    Directory of Open Access Journals (Sweden)

    Jess Bier

    2016-12-01

    Full Text Available Computer models of the economy are regularly used to predict economic phenomena and set financial policy. However, the conventional macroeconomic models are currently being reimagined after they failed to foresee the current economic crisis, the outlines of which began to be understood only in 2007-2008. In this article we analyze the most prominent of this reimagining: Agent-Based models (ABMs. ABMs are an influential alternative to standard economic models, and they are one focus of complexity theory, a discipline that is a more open successor to the conventional chaos and fractal modeling of the 1990s. The modelers who create ABMs claim that their models depict markets as ecologies, and that they are more responsive than conventional models that depict markets as machines. We challenge this presentation, arguing instead that recent modeling efforts amount to the creation of models as ecological machines. Our paper aims to contribute to an understanding of the organizing metaphors of macroeconomic models, which we argue is relevant conceptually and politically, e.g., when models are used for regulatory purposes.

  19. A Model for Assessing the Gender Aspect in Economic Policy

    Directory of Open Access Journals (Sweden)

    Ona Rakauskienė

    2015-06-01

    Full Text Available The purpose of research is to develop a conceptual model for assessing the impact of the gender aspect on economic policy at macro– and microeconomic levels. The research methodology is based on analysing scientific approaches to the gender aspect in economics and gender–responsive budgeting as well as determining the impact of the gender aspect on GDP, foreign trade, the state budget and the labour market. First, the major findings encompass the main idea of a conceptual model proposing that a socio–economic picture of society can be accepted as completed only when, alongside public and private sectors, includes the care/reproductive sector that is dominated by women and creating added value in the form of educated human resources; second, macroeconomics is not neutral in terms of gender equality. Gender asymmetry is manifested not only at the level of microeconomics (labour market and business but also at the level of macroeconomics (GDP, the state budget and foreign trade, which has a negative impact on economic growth and state budget revenues. In this regard, economic decisions, according to the principles of gender equality and in order to achieve gender equality in economics, must be made, as the gender aspect has to be also implemented at the macroeconomic level.

  20. Physical-Socio-Economic Modeling of Climate Change

    Science.gov (United States)

    Chamberlain, R. G.; Vatan, F.

    2008-12-01

    Because of the global nature of climate change, any assessment of the effects of plans, policies, and response to climate change demands a model that encompasses the entire Earth System, including socio- economic factors. Physics-based climate models of the factors that drive global temperatures, rainfall patterns, and sea level are necessary but not sufficient to guide decision making. Actions taken by farmers, industrialists, environmentalists, politicians, and other policy makers may result in large changes to economic factors, international relations, food production, disease vectors, and beyond. These consequences will not be felt uniformly around the globe or even across a given region. Policy models must comprehend all of these considerations. Combining physics-based models of the Earth's climate and biosphere with societal models of population dynamics, economics, and politics is a grand challenge with high stakes. We propose to leverage our recent advances in modeling and simulation of military stability and reconstruction operations to models that address all these areas of concern. Following over twenty years' experience of successful combat simulation, JPL has started developing Minerva, which will add demographic, economic, political, and media/information models to capabilities that already exist. With these new models, for which we have design concepts, it will be possible to address a very wide range of potential national and international problems that were previously inaccessible. Our climate change model builds on Minerva and expands the geographical horizon from playboxes containing regions and neighborhoods to the entire globe. This system consists of a collection of interacting simulation models that specialize in different aspects of the global situation. They will each contribute to and draw from a pool of shared data. The basic models are: the physical model; the demographic model; the political model; the economic model; and the media

  1. Energy technologies and energy efficiency in economic modelling

    DEFF Research Database (Denmark)

    Klinge Jacobsen, Henrik

    1998-01-01

    This paper discusses different approaches to incorporating energy technologies and technological development in energy-economic models. Technological development is a very important issue in long-term energy demand projections and in environmental analyses. Different assumptions on technological ...... of renewable energy and especially wind power will increase the rate of efficiency improvement. A technologically based model in this case indirectly makes the energy efficiency endogenous in the aggregate energy-economy model....... technological development. This paper examines the effect on aggregate energy efficiency of using technological models to describe a number of specific technologies and of incorporating these models in an economic model. Different effects from the technology representation are illustrated. Vintage effects...... illustrates the dependence of average efficiencies and productivity on capacity utilisation rates. In the long run regulation induced by environmental policies are also very important for the improvement of aggregate energy efficiency in the energy supply sector. A Danish policy to increase the share...

  2. How does economic theory explain the Hubbert peak oil model?

    International Nuclear Information System (INIS)

    Reynes, F.; Okullo, S.; Hofkes, M.

    2010-01-01

    The aim of this paper is to provide an economic foundation for bell shaped oil extraction trajectories, consistent with Hubbert's peak oil model. There are several reasons why it is important to get insight into the economic foundations of peak oil. As production decisions are expected to depend on economic factors, a better comprehension of the economic foundations of oil extraction behaviour is fundamental to predict production and price over the coming years. The investigation made in this paper helps us to get a better understanding of the different mechanisms that may be at work in the case of OPEC and non-OPEC producers. We show that profitability is the main driver behind production plans. Changes in profitability due to divergent trajectories between costs and oil price may give rise to a Hubbert production curve. For this result we do not need to introduce a demand or an exploration effect as is generally assumed in the literature.

  3. The New Toxicology of Sophisticated Materials: Nanotoxicology and Beyond

    Science.gov (United States)

    Maynard, Andrew D.; Warheit, David B.; Philbert, Martin A.

    2011-01-01

    It has long been recognized that the physical form of materials can mediate their toxicity—the health impacts of asbestiform materials, industrial aerosols, and ambient particulate matter are prime examples. Yet over the past 20 years, toxicology research has suggested complex and previously unrecognized associations between material physicochemistry at the nanoscale and biological interactions. With the rapid rise of the field of nanotechnology and the design and production of increasingly complex nanoscale materials, it has become ever more important to understand how the physical form and chemical composition of these materials interact synergistically to determine toxicity. As a result, a new field of research has emerged—nanotoxicology. Research within this field is highlighting the importance of material physicochemical properties in how dose is understood, how materials are characterized in a manner that enables quantitative data interpretation and comparison, and how materials move within, interact with, and are transformed by biological systems. Yet many of the substances that are the focus of current nanotoxicology studies are relatively simple materials that are at the vanguard of a new era of complex materials. Over the next 50 years, there will be a need to understand the toxicology of increasingly sophisticated materials that exhibit novel, dynamic and multifaceted functionality. If the toxicology community is to meet the challenge of ensuring the safe use of this new generation of substances, it will need to move beyond “nano” toxicology and toward a new toxicology of sophisticated materials. Here, we present a brief overview of the current state of the science on the toxicology of nanoscale materials and focus on three emerging toxicology-based challenges presented by sophisticated materials that will become increasingly important over the next 50 years: identifying relevant materials for study, physicochemical characterization, and

  4. Modelling economic losses of historic and present-day high-impact winter storms in Switzerland

    Science.gov (United States)

    Welker, Christoph; Martius, Olivia; Stucki, Peter; Bresch, David; Dierer, Silke; Brönnimann, Stefan

    2015-04-01

    Windstorms can cause significant financial damage and they rank among the most hazardous meteorological hazards in Switzerland. Risk associated with windstorms involves the combination of hazardous weather conditions, such as high wind gust speeds, and socio-economic factors, such as the distribution of assets as well as their susceptibilities to damage. A sophisticated risk assessment is important in a wide range of areas and has benefits for e.g. the insurance industry. However, a sophisticated risk assessment needs a large sample of storm events for which high-resolution, quantitative meteorological and/or loss data are available. Latter is typically an aggravating factor. For present-day windstorms in Switzerland, the data basis is generally sufficient to describe the meteorological development and wind forces as well as the associated impacts. In contrast, historic windstorms are usually described by graphical depictions of the event and/or by weather and loss reports. The information on historic weather events is overall sparse and the available historic weather and loss reports mostly do not provide quantitative information. It has primarily been the field of activity of environmental historians to study historic weather extremes and their impacts. Furthermore, the scarce availability of atmospheric datasets reaching back sufficiently in time has so far limited the analysis of historic weather events. The Twentieth Century Reanalysis (20CR) ensemble dataset, a global atmospheric reanalysis currently spanning 1871 to 2012, offers potentially a very valuable resource for the analysis of historic weather events. However, the 2°×2° latitude-longitude grid of the 20CR is too coarse to realistically represent the complex orography of Switzerland, which has considerable ramifications for the representation of smaller-scale features of the surface wind field influenced by the local orography. Using the 20CR as a starting point, this study illustrates a method to

  5. Evolutionary modelling of the macro-economic impacts of catastrophic flood events

    NARCIS (Netherlands)

    Safarzynska, K.E.; Brouwer, R.; Hofkes, M.

    2013-01-01

    This paper examines the possible contribution of evolutionary economics to macro-economic modelling of flood impacts to provide guidance for future economic risk modelling. Most macro-economic models start from a neoclassical economic perspective and focus on equilibrium outcomes, either in a static

  6. Few remarks on chiral theories with sophisticated topology

    International Nuclear Information System (INIS)

    Golo, V.L.; Perelomov, A.M.

    1978-01-01

    Two classes of the two-dimensional Euclidean chiral field theoreties are singled out: 1) the field phi(x) takes the values in the compact Hermitiam symmetric space 2) the field phi(x) takes the values in an orbit of the adjoint representation of the comcompact Lie group. The theories have sophisticated topological and rich analytical structures. They are considered with the help of topological invariants (topological charges). Explicit formulae for the topological charges are indicated, and the lower bound extimate for the action is given

  7. STOCK EXCHANGE LISTING INDUCES SOPHISTICATION OF CAPITAL BUDGETING

    Directory of Open Access Journals (Sweden)

    Wesley Mendes-da-Silva

    2014-08-01

    Full Text Available This article compares capital budgeting techniques employed in listed and unlisted companies in Brazil. We surveyed the Chief Financial Officers (CFOs of 398 listed companies and 300 large unlisted companies, and based on 91 respondents, the results suggest that the CFOs of listed companies tend to use less simplistic methods more often, for example: NPV and CAPM, and that CFOs of unlisted companies are less likely to estimate the cost of equity, despite being large companies. These findings indicate that stock exchange listing may require greater sophistication of the capital budgeting process.

  8. Financial Sophistication and the Distribution of the Welfare Cost of Inflation

    OpenAIRE

    Paola Boel; Gabriele Camera

    2009-01-01

    The welfare cost of anticipated inflation is quantified in a calibrated model of the U.S. economy that exhibits tractable equilibrium dispersion in wealth and earnings. Inflation does not generate large losses in societal welfare, yet its impact varies noticeably across segments of society depending also on the financial sophistication of the economy. If money is the only asset, then inflation hurts mostly the wealthier and more productive agents, while those poorer and less productive may ev...

  9. ONTOLOGICAL MODEL OF STRATEGIC ECONOMIC SECURITY OF ENTERPRISE

    Directory of Open Access Journals (Sweden)

    L. A. Zaporozhtseva

    2014-01-01

    Full Text Available Article explains the necessity the application of the ontological approach to modeling the strategic economic security in the formalization of the basic categories of domain company recognized its benefits. Among the advantages of the model distinguishes its versatility and ability to describe various aspects of strategic security - the system strategies and goals of the organization and business processes; possibility of its use at different levels of detail - from the top-level description of the basic categories of management, to design-level analytic applications; as well as the adaptability of the model, with depth on particular aspects determined by practical necessity and not regulated methodology. The model integrates various aspects of the concept of enterprise architecture and organizes conceptual apparatus. Ontological model easy to understand and adjust as business architects and specialists in designing systems of economic security and offers many categories of verbal representation of the domain of the enterprise. Proved the feasibility of using process-functional approach in providing strategic economic security, according to which the components of such a security company proposed as business processes, finance, staff and contractors. The article presents the author's ontological model of strategic economic security, including endangered sites, the presence of factors that threaten the security of the object and the subject of providing security. Further, it is proved that in the subjects of security impact on the object using the tools, measures and activities within the strategy formed the mechanism is implemented managerial decisions to strengthen the strategic economic security. The process of diagnosis, detection, identification of threats of economic security, and the development of enterprise development strategies, taking into account its level of economic security must be under the constant supervision of the process of

  10. Modeling and Forecasting Mortality With Economic Growth: A Multipopulation Approach.

    Science.gov (United States)

    Boonen, Tim J; Li, Hong

    2017-10-01

    Research on mortality modeling of multiple populations focuses mainly on extrapolating past mortality trends and summarizing these trends by one or more common latent factors. This article proposes a multipopulation stochastic mortality model that uses the explanatory power of economic growth. In particular, we extend the Li and Lee model (Li and Lee 2005) by including economic growth, represented by the real gross domestic product (GDP) per capita, to capture the common mortality trend for a group of populations with similar socioeconomic conditions. We find that our proposed model provides a better in-sample fit and an out-of-sample forecast performance. Moreover, it generates lower (higher) forecasted period life expectancy for countries with high (low) GDP per capita than the Li and Lee model.

  11. An object-oriented approach to energy-economic modeling

    Energy Technology Data Exchange (ETDEWEB)

    Wise, M.A.; Fox, J.A.; Sands, R.D.

    1993-12-01

    In this paper, the authors discuss the experiences in creating an object-oriented economic model of the U.S. energy and agriculture markets. After a discussion of some central concepts, they provide an overview of the model, focusing on the methodology of designing an object-oriented class hierarchy specification based on standard microeconomic production functions. The evolution of the model from the class definition stage to programming it in C++, a standard object-oriented programming language, will be detailed. The authors then discuss the main differences between writing the object-oriented program versus a procedure-oriented program of the same model. Finally, they conclude with a discussion of the advantages and limitations of the object-oriented approach based on the experience in building energy-economic models with procedure-oriented approaches and languages.

  12. Sustainable economic production quantity models for inventory systems with shortage

    DEFF Research Database (Denmark)

    Taleizadeh, Ata Allah; Soleymanfar, Vahid Reza; Govindan, Kannan

    2018-01-01

    optimal values of inventory system variables, we solve four independent profit maximization problems for four different situations. These proposed models include a basic model in which shortages are not allowed, and when shortages are allowed, the lost sale, full backordering and partial backordering...... (EPQ). The theoretical sustainable EOQ and EPQ models are basic models that ignore many real-life conditions such as the possibility of stock-out in inventory systems. In this paper, we develop four new sustainable economic production quantity models that consider different shortage situations. To find...

  13. Economic analysis of Marine Protected Areas: Bioeconomic Modeling and Economic Valuation Approaches

    OpenAIRE

    Bui, Bich Xuan

    2017-01-01

    The papers 2 and 3 of this thesis are not available in Munin. Paper 2: Xuan, B. B., Sandorf, E. D., Aanesen, M.: “Informing Management Strategies for a Reserve: Results from a Discrete Choice Experiment Survey”. (Manuscript). Paper 3: Xuan, B. B.: “Extractive and Non-extractive Values of a Marine Protected Area: A Bio-economic Model Application". (Manuscript). Marine protected areas (MPAs) are often established for conservation objectives. Benefits provided by MPAs exceed pure biod...

  14. Modelling the interaction between flooding events and economic growth

    Science.gov (United States)

    Grames, Johanna; Fürnkranz-Prskawetz, Alexia; Grass, Dieter; Viglione, Alberto; Blöschl, Günter

    2016-04-01

    Recently socio-hydrology models have been proposed to analyze the interplay of community risk-coping culture, flooding damage and economic growth. These models descriptively explain the feedbacks between socio-economic development and natural disasters such as floods. Complementary to these descriptive models, we develop a dynamic optimization model, where the inter-temporal decision of an economic agent interacts with the hydrological system. This interdisciplinary approach matches with the goals of Panta Rhei i.e. to understand feedbacks between hydrology and society. It enables new perspectives but also shows limitations of each discipline. Young scientists need mentors from various scientific backgrounds to learn their different research approaches and how to best combine them such that interdisciplinary scientific work is also accepted by different science communities. In our socio-hydrology model we apply a macro-economic decision framework to a long-term flood-scenario. We assume a standard macro-economic growth model where agents derive utility from consumption and output depends on physical capital that can be accumulated through investment. To this framework we add the occurrence of flooding events which will destroy part of the capital. We identify two specific periodic long term solutions and denote them rich and poor economies. Whereas rich economies can afford to invest in flood defense and therefore avoid flood damage and develop high living standards, poor economies prefer consumption instead of investing in flood defense capital and end up facing flood damages every time the water level rises. Nevertheless, they manage to sustain at least a low level of physical capital. We identify optimal investment strategies and compare simulations with more frequent and more intense high water level events.

  15. Economic decision making and the application of nonparametric prediction models

    Science.gov (United States)

    Attanasi, E.D.; Coburn, T.C.; Freeman, P.A.

    2008-01-01

    Sustained increases in energy prices have focused attention on gas resources in low-permeability shale or in coals that were previously considered economically marginal. Daily well deliverability is often relatively small, although the estimates of the total volumes of recoverable resources in these settings are often large. Planning and development decisions for extraction of such resources must be areawide because profitable extraction requires optimization of scale economies to minimize costs and reduce risk. For an individual firm, the decision to enter such plays depends on reconnaissance-level estimates of regional recoverable resources and on cost estimates to develop untested areas. This paper shows how simple nonparametric local regression models, used to predict technically recoverable resources at untested sites, can be combined with economic models to compute regional-scale cost functions. The context of the worked example is the Devonian Antrim-shale gas play in the Michigan basin. One finding relates to selection of the resource prediction model to be used with economic models. Models chosen because they can best predict aggregate volume over larger areas (many hundreds of sites) smooth out granularity in the distribution of predicted volumes at individual sites. This loss of detail affects the representation of economic cost functions and may affect economic decisions. Second, because some analysts consider unconventional resources to be ubiquitous, the selection and order of specific drilling sites may, in practice, be determined arbitrarily by extraneous factors. The analysis shows a 15-20% gain in gas volume when these simple models are applied to order drilling prospects strategically rather than to choose drilling locations randomly. Copyright ?? 2008 Society of Petroleum Engineers.

  16. Models of Russia's Participation in Regional Economic Integration

    Directory of Open Access Journals (Sweden)

    Darya I. Ushkalova

    2014-01-01

    Full Text Available The article analyses models and mechanisms of Russia's participation in integration processes in Post-Soviet space in recent years. The article examines the model of integration of Customs Union Common Economic Space Eurasian Economic Union and particular mechanisms of its realization. It also examines key challenges to further development of integration in the frameworks of Eurasian Economic Union including exhausting of short-term and medium-term integration effects against a background of low level of economic cooperation and the lack of effective mechanism of interest coordination and decisionmaking similar to qualified majority. It concludes that deterioration of mutual trade dynamics in Customs Union is determined by fundamental factors, first of all, exhausting of medium-term integration effects which lead to extension of mutual trade immediately after Customs Union creation but do not change its qualitative characteristics in long-term outlook. The author shows an absence of significant long-term integration effects which were based on increase of domestic market capacity due to a modification of economic structure. It is founded that appearance of such long-term integration effects is possible only in the context of coalescence of national economies at the microlevel based on development of system of communications between enterprises including intrasectoral industrial cooperation. The article also analyses results of realization of Russia's strategy of interaction with states beyond Eurasian Economic Union based on open regionalism concept. The paper presents recommendation on perfection of tools of integration in and outside Eurasian Economic Union. In particular, creation of system of decentralized organizations is proposed, for the implementation of specific cooperation projects in selected areas, taking into account the multiplier effect of such a "point-aimed" action/

  17. Real-Time Optimization for Economic Model Predictive Control

    DEFF Research Database (Denmark)

    Sokoler, Leo Emil; Edlund, Kristian; Frison, Gianluca

    2012-01-01

    In this paper, we develop an efficient homogeneous and self-dual interior-point method for the linear programs arising in economic model predictive control. To exploit structure in the optimization problems, the algorithm employs a highly specialized Riccati iteration procedure. Simulations show...

  18. Neural networks in economic modelling : An empirical study

    NARCIS (Netherlands)

    Verkooijen, W.J.H.

    1996-01-01

    This dissertation addresses the statistical aspects of neural networks and their usability for solving problems in economics and finance. Neural networks are discussed in a framework of modelling which is generally accepted in econometrics. Within this framework a neural network is regarded as a

  19. Aligning the economic modeling of software reuse with reuse practices

    NARCIS (Netherlands)

    Postmus, D.; Meijler, 27696

    In contrast to current practices where software reuse is applied recursively and reusable assets are tailored trough parameterization or specialization, existing reuse economic models assume that (i) the cost of reusing a software asset depends on its size and (ii) reusable assets are developed from

  20. The use of modeling in the economic evaluation of vaccines

    NARCIS (Netherlands)

    Bos, Jasper M; Alphen, Loek van; Postma, Maarten J

    2002-01-01

    As a consequence of the increased role of pharmacoeconomics in policy-making, economic evaluations are performed at more and more early stages in the development of a therapeutic. This implies the development of models to assess the future impact of an intervention and to account for the level of

  1. A mean-field game economic growth model

    KAUST Repository

    Gomes, Diogo A.; Lafleche, Laurent; Nurbekyan, Levon

    2016-01-01

    Here, we examine a mean-field game (MFG) that models the economic growth of a population of non-cooperative, rational agents. In this MFG, agents are described by two state variables - the capital and consumer goods they own. Each agent seeks

  2. Bio-economic household modelling for agricultural intensification

    NARCIS (Netherlands)

    Kruseman, G.

    2000-01-01

    This study contributes to the quest for sustainable agricultural intensification through the development of a quantitative bio-economic modelling framework that allows assessment of new technology and policy measures in terms of household welfare and sustainability indicators. The main aim

  3. Models of Economic Growth and Development in the Context of ...

    African Journals Online (AJOL)

    The better-known models of economic growth such as the Lewis, Rostow,. Harrod-Domar ... produce highly educated populaces usually reap the benefits of such in terms of high per capita ..... The Russian revolution of 1917 led by Lenin proposed in theory a .... This was about government intervention into the economy to ...

  4. Student Migration to Online Education: An Economic Model

    Science.gov (United States)

    Eisenhauer, Joseph G.

    2013-01-01

    The popularity of distance education has increasingly led universities to consider expanding their online offerings. Remarkably few financial models have been presented for online courses, however, and fewer still have investigated the economic consequences of the migration, or cross-over, of students from traditional classes within the…

  5. INFORMATION SYSTEM FOR MODELING ECONOMIC AND FINANCIAL PERFORMANCES

    Directory of Open Access Journals (Sweden)

    Boldeanu Dana Maria

    2009-05-01

    Full Text Available The analysis of the most important financial and economic indicators at the level of some organizations from the same sector of activity, the selection of performance ratios and generating a particular analysis model help companies to move from the desire

  6. A survey on the geometry of production models in economics

    Directory of Open Access Journals (Sweden)

    Alina-Daniela Vîlcu

    2017-01-01

    Full Text Available In this article we survey selected recent results on the geometry of production models, focussing on the main production functions that are usually analyzed in economics, namely homogeneous, homothetic, quasi-sum and quasi-product production functions.

  7. Using STELLA Simulation Models to Teach Natural Resource Economics

    Science.gov (United States)

    Dissanayake, Sahan T. M.

    2016-01-01

    In this article, the author discusses how graphical simulation models created using STELLA software can be used to present natural resource systems in an intuitive way in undergraduate natural resource economics classes based on his experiences at a leading research university, a state university, and a leading liberal arts college in the United…

  8. An Economic Model of Workplace Mobbing in Academe

    Science.gov (United States)

    Faria, Joao Ricardo; Mixon, Franklin G., Jr.; Salter, Sean P.

    2012-01-01

    Workplace bullying or mobbing can be defined as the infliction of various forms of abuse (e.g., verbal, emotional, psychological) against a colleague or subordinate by one or more other members of a workplace. Even in the presence of academic tenure, workplace mobbing remains a prevalent issue in academe. This study develops an economic model that…

  9. R.M. Solow Adjusted Model of Economic Growth

    Directory of Open Access Journals (Sweden)

    Ion Gh. Rosca

    2007-05-01

    The analysis part of the model is based on the study of the equilibrium to the continuous case with some interpretations of the discreet one, by using the state diagram. The optimization problem at the economic level is also used; it is built up of a specified number of representative consumers and firms in order to reveal the interaction between these elements.

  10. Using Economic Impact Models as an Educational Tool in Community Economic Development Programming: Lessons from Pennsylvania and Wisconsin.

    Science.gov (United States)

    Shields, Martin; Deller, Steven C.

    2003-01-01

    Outlines an educational process designed to help provide communities with economic, social, and political information using community economic impact modeling. Describes the process of community meetings using economic impact, community demographics, and fiscal impact modules and the local preconditions that help make the process successful. (SK)

  11. Sophisticated Fowl: The Complex Behaviour and Cognitive Skills of Chickens and Red Junglefowl

    Directory of Open Access Journals (Sweden)

    Laura Garnham

    2018-01-01

    Full Text Available The world’s most numerous bird, the domestic chicken, and their wild ancestor, the red junglefowl, have long been used as model species for animal behaviour research. Recently, this research has advanced our understanding of the social behaviour, personality, and cognition of fowl, and demonstrated their sophisticated behaviour and cognitive skills. Here, we overview some of this research, starting with describing research investigating the well-developed senses of fowl, before presenting how socially and cognitively complex they can be. The realisation that domestic chickens, our most abundant production animal, are behaviourally and cognitively sophisticated should encourage an increase in general appraise and fascination towards them. In turn, this should inspire increased use of them as both research and hobby animals, as well as improvements in their unfortunately often poor welfare.

  12. Accounting for household heterogeneity in general equilibrium economic growth models

    International Nuclear Information System (INIS)

    Melnikov, N.B.; O'Neill, B.C.; Dalton, M.G.

    2012-01-01

    We describe and evaluate a new method of aggregating heterogeneous households that allows for the representation of changing demographic composition in a multi-sector economic growth model. The method is based on a utility and labor supply calibration that takes into account time variations in demographic characteristics of the population. We test the method using the Population-Environment-Technology (PET) model by comparing energy and emissions projections employing the aggregate representation of households to projections representing different household types explicitly. Results show that the difference between the two approaches in terms of total demand for energy and consumption goods is negligible for a wide range of model parameters. Our approach allows the effects of population aging, urbanization, and other forms of compositional change on energy demand and CO 2 emissions to be estimated and compared in a computationally manageable manner using a representative household under assumptions and functional forms that are standard in economic growth models.

  13. Maximum likelihood estimation of finite mixture model for economic data

    Science.gov (United States)

    Phoong, Seuk-Yen; Ismail, Mohd Tahir

    2014-06-01

    Finite mixture model is a mixture model with finite-dimension. This models are provides a natural representation of heterogeneity in a finite number of latent classes. In addition, finite mixture models also known as latent class models or unsupervised learning models. Recently, maximum likelihood estimation fitted finite mixture models has greatly drawn statistician's attention. The main reason is because maximum likelihood estimation is a powerful statistical method which provides consistent findings as the sample sizes increases to infinity. Thus, the application of maximum likelihood estimation is used to fit finite mixture model in the present paper in order to explore the relationship between nonlinear economic data. In this paper, a two-component normal mixture model is fitted by maximum likelihood estimation in order to investigate the relationship among stock market price and rubber price for sampled countries. Results described that there is a negative effect among rubber price and stock market price for Malaysia, Thailand, Philippines and Indonesia.

  14. Control of chaotic dynamics in an OLG economic model

    International Nuclear Information System (INIS)

    Mendes, Diana A; Mendes, Vivaldo

    2005-01-01

    This paper deals with the control of chaotic economic motion. We show that very complicated dynamics arising, e.g., from an overlapping generations model (OLG) with production and an endogenous intertemporal decision between labour and leisure, which produces chaos, can in fact be controlled with relative simplicity. The aperiodic and very complicated motion that stems from this model can be subject to control by small perturbations in its parameters and turned into a stable steady state or into a regular cycle. Therefore, the system can be controlled without changing of its original properties. To perform the control of the totally unstable equilibrium (both eigenvalues with modulus greater than unity) in this economic model we apply the pole-placement technique, developed by Romeiras, Grebogi, Ott and Dayawansa (1992). The application of control methods to chaotic economic dynamics may raise serious reservations, at least on mathematical and logical grounds, to some recent views on economics which have argued that economic policy becomes useless in the presence of chaotic motion (and thus, that the performance of the economic system cannot be improved by public intervention, i.e., that the amplitude of cycles can not be controlled or reduced). In fact, the fine tuning of the system (that is, the control) can be performed without having to rely only on infinitesimal accuracy in the perturbation to the system, because the control can be performed with larger or smaller perturbations, but neither too large (because these would lead to a different fixed point of the system, therefore modifying its original nature), nor too small because the control becomes too inefficient

  15. A Reformulation of Normative Economics for Models with Endogenous Preferences

    OpenAIRE

    Vipul Bhatt; Masao Ogaki; Yuichi Yaguchi

    2014-01-01

    This paper proposes a framework to balance considerations of welfarism and virtue ethics in the normative analysis of economic models with endogenous preferences. We introduce the moral evaluation function (MEF), which ranks alternatives based purely on virtue ethics, and define the social objective function (SOF), which combines the Social Welfare Function (SWF) and the MEF. In a model of intergenerational altruism with endogenous time preference, using numerical simulations we show that max...

  16. A Reformulation of Normative Economics for Models with Endogenous

    OpenAIRE

    Bhatt, Vipul; Ogaki, Masao; Yaguchi, Yuichi

    2015-01-01

    This paper proposes a framework to balance considerations of welfarism and virtue ethics in the normative analysis of economic models with endogenous preferences. We introduce the moral evaluation function (MEF), which ranks alternatives based purely on virtue ethics, and define the social objective function (SOF), which combines the Social Welfare Function (SWF) and the MEF. In a model of intergenerational altruism with endogenous time preference, using numerical simulations we show that max...

  17. Evaluating Behavioral Economic Models of Heavy Drinking Among College Students.

    Science.gov (United States)

    Acuff, Samuel F; Soltis, Kathryn E; Dennhardt, Ashley A; Berlin, Kristoffer S; Murphy, James G

    2018-05-14

    Heavy drinking among college students is a significant public health concern that can lead to profound social and health consequences, including alcohol use disorder. Behavioral economics posits that low future orientation and high valuation of alcohol (alcohol demand) combined with deficits in alternative reinforcement increase the likelihood of alcohol misuse (Bickel et al., 2011). Despite this, no study has examined the incremental utility of all three variables simultaneously in a comprehensive model METHOD: The current study uses structural equation modeling to test the associations between behavioral economic variables - alcohol demand (latent), future orientation (measured with a delay discounting task and the Consideration of Future Consequences (CFC) scale), and proportionate substance-related reinforcement - and alcohol consumption and problems among 393 heavy drinking college students. Two models are tested: 1) an iteration of the reinforcer pathology model that includes an interaction between future orientation and alcohol demand; and 2) an alternative model evaluating the interconnectedness of behavioral economic variables in predicting problematic alcohol use RESULTS: The interaction effects in model 1 were nonsignificant. Model 2 suggests that greater alcohol demand and proportionate substance-related reinforcement is associated with greater alcohol consumption and problems. Further, CFC was associated with alcohol-related problems and lower proportionate substance-related reinforcement but was not significantly associated with alcohol consumption or alcohol demand. Finally, greater proportionate substance-related reinforcement was associated with greater alcohol demand CONCLUSIONS: Our results support the validity of the behavioral economic reinforcer pathology model as applied to young adult heavy drinking. This article is protected by copyright. All rights reserved. This article is protected by copyright. All rights reserved.

  18. A Pedagogical Note on Modeling the Economic Benefit of Emissions Abatement vs. the Economic Harm from Emissions

    OpenAIRE

    Christopher S. Decker

    2012-01-01

    The number of undergraduate-level textbooks on environmental economics has increased in recent years, but the textbook treatment of optimal emissions (abatement) varies markedly from textbook to textbook. In particular, there is no consensus as to whether to model the economic “bad” (i.e. emissions) or the economic “good” (abatement). This inconsistency can lead to some needless confusion for students introduced to environmental economics for the first time, particularly those students outsid...

  19. Economics.

    Science.gov (United States)

    Palley, Paul D; Parcero, Miriam E

    2016-10-01

    A review of literature in the calendar year 2015 dedicated to environmental policies and sustainable development, and economic policies. This review is divided into these sections: sustainable development, irrigation, ecosystems and water management, climate change and disaster risk management, economic growth, water supply policies, water consumption, water price regulation, and water price valuation.

  20. A review of mathematical models in economic environmental problems

    DEFF Research Database (Denmark)

    Nahorski, Z.; Ravn, H.F.

    2000-01-01

    The paper presents a review of mathematical models used,in economic analysis of environmental problems. This area of research combines macroeconomic models of growth, as dependent on capital, labour, resources, etc., with environmental models describing such phenomena like natural resources...... exhaustion or pollution accumulation and degradation. In simpler cases the models can be treated analytically and the utility function can be optimized using, e.g., such tools as the maximum principle. In more complicated cases calculation of the optimal environmental policies requires a computer solution....

  1. Modelling the interaction between flooding events and economic growth

    Science.gov (United States)

    Grames, Johanna; Grass, Dieter; Prskawetz, Alexia; Blöschl, Günther

    2015-04-01

    Socio-hydrology describes the interaction between the socio-economy, water and population dynamics. Recent models analyze the interplay of community risk-coping culture, flooding damage and economic growth (Di Baldassarre, 2013, Viglione, 2014). These models descriptively explain the feedbacks between socio-economic development and natural disasters like floods. Contrary to these descriptive models, our approach develops an optimization model, where the intertemporal decision of an economic agent interacts with the hydrological system. This is the first economic growth model describing the interaction between the consumption and investment decisions of an economic agent and the occurrence of flooding events: Investments in defense capital can avoid floods even when the water level is high, but on the other hand such investment competes with investment in productive capital and hence may reduce the level of consumption. When floods occur, the flood damage therefore depends on the existing defense capital. The aim is to find an optimal tradeoff between investments in productive versus defense capital such as to optimize the stream of consumption in the long-term. We assume a non-autonomous exogenous periodic rainfall function (Yevjevich et.al. 1990, Zakaria 2001) which implies that the long-term equilibrium will be periodic . With our model we aim to derive mechanisms that allow consumption smoothing in the long term, and at the same time allow for optimal investment in flood defense to maximize economic output. We choose an aggregate welfare function that depends on the consumption level of the society as the objective function. I.e. we assume a social planer with perfect foresight that maximizes the aggregate welfare function. Within our model framework we can also study whether the path and level of defense capital (that protects people from floods) is related to the time preference rate of the social planner. Our model also allows to investigate how the frequency

  2. The sophisticated control of the tram bogie on track

    Directory of Open Access Journals (Sweden)

    Radovan DOLECEK

    2015-09-01

    Full Text Available The paper deals with the problems of routing control algorithms of new conception of tram vehicle bogie. The main goal of these research activities is wear reduction of rail wheels and tracks, wear reduction of traction energy losses and increasing of running comfort. The testing experimental tram vehicle with special bogie construction powered by traction battery is utilized for these purposes. This vehicle has a rotary bogie with independent rotating wheels driven by permanent magnets synchronous motors and a solid axle. The wheel forces in bogie are measured by large amounts of the various sensors placed on the testing experimental tram vehicle. Nowadays the designed control algorithms are implemented to the vehicle superset control system. The traction requirements and track characteristics have an effect to these control algorithms. This control including sophisticated routing brings other improvements which is verified and corrected according to individual traction and driving characteristics, and opens new possibilities.

  3. Modeling human behavior in economics and social science.

    Science.gov (United States)

    Dolfin, M; Leonida, L; Outada, N

    2017-12-01

    The complex interactions between human behaviors and social economic sciences is critically analyzed in this paper in view of possible applications of mathematical modeling as an attainable interdisciplinary approach to understand and simulate the aforementioned dynamics. The quest is developed along three steps: Firstly an overall analysis of social and economic sciences indicates the main requirements that a contribution of mathematical modeling should bring to these sciences; subsequently the focus moves to an overview of mathematical tools and to the selection of those which appear, according to the authors bias, appropriate to the modeling; finally, a survey of applications is presented looking ahead to research perspectives. Copyright © 2017 Elsevier B.V. All rights reserved.

  4. ECONOMIC FORECASTS BASED ON ECONOMETRIC MODELS USING EViews 5

    Directory of Open Access Journals (Sweden)

    Cornelia TomescuDumitrescu,

    2009-05-01

    Full Text Available The forecast of evolution of economic phenomena represent on the most the final objective of econometrics. It withal represent a real attempt of validity elaborate model. Unlike the forecasts based on the study of temporal series which have an recognizable inertial character the forecasts generated by econometric model with simultaneous equations are after to contour the future of ones of important economic variables toward the direct and indirect influences bring the bear on their about exogenous variables. For the relief of the calculus who the realization of the forecasts based on the econometric models its suppose is indicate the use of the specialized informatics programs. One of this is the EViews which is applied because it reduces significant the time who is destined of the econometric analysis and it assure a high accuracy of calculus and of the interpretation of results.

  5. The Economic Basis of the Model of Traditional Montenegrin Masculinity

    Directory of Open Access Journals (Sweden)

    Branko Banović

    2016-02-01

    Full Text Available The model of traditional Montenegrin masculinity is inseparable from the social formations that have contributed to its creation, hence the need for its more thorough economic, social and historical contextualization. It is particularly important to distinguish the two components of the model of traditional Montenegrin masculinity, which tend to be intertwined and are therefore difficult to separate. The first concerns the gender roles assigned to men and women in an economy based on livestock raising, warfare, and raiding, while the other concerns the concept of gender roles shaped by fictional, ethnological and historical narratives. The paper attempts to problematize the economic basis of the model of traditional Montenegrin masculinity in the context of a semi-nomadic livestock raising economy and a clan’s collective property.

  6. Basin Economic Allocation Model (BEAM): An economic model of water use developed for the Aral Sea Basin

    Science.gov (United States)

    Riegels, Niels; Kromann, Mikkel; Karup Pedersen, Jesper; Lindgaard-Jørgensen, Palle; Sokolov, Vadim; Sorokin, Anatoly

    2013-04-01

    The water resources of the Aral Sea basin are under increasing pressure, particularly from the conflict over whether hydropower or irrigation water use should take priority. The purpose of the BEAM model is to explore the impact of changes to water allocation and investments in water management infrastructure on the overall welfare of the Aral Sea basin. The BEAM model estimates welfare changes associated with changes to how water is allocated between the five countries in the basin (Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan; water use in Afghanistan is assumed to be fixed). Water is allocated according to economic optimization criteria; in other words, the BEAM model allocates water across time and space so that the economic welfare associated with water use is maximized. The model is programmed in GAMS. The model addresses the Aral Sea Basin as a whole - that is, the rivers Syr Darya, Amu Darya, Kashkadarya, and Zarafshan, as well as the Aral Sea. The model representation includes water resources, including 14 river sections, 6 terminal lakes, 28 reservoirs and 19 catchment runoff nodes, as well as land resources (i.e., irrigated croplands). The model covers 5 sectors: agriculture (crops: wheat, cotton, alfalfa, rice, fruit, vegetables and others), hydropower, nature, households and industry. The focus of the model is on welfare impacts associated with changes to water use in the agriculture and hydropower sectors. The model aims at addressing the following issues of relevance for economic management of water resources: • Physical efficiency (estimating how investments in irrigation efficiency affect economic welfare). • Economic efficiency (estimating how changes in how water is allocated affect welfare). • Equity (who will gain from changes in allocation of water from one sector to another and who will lose?). Stakeholders in the region have been involved in the development of the model, and about 10 national experts, including

  7. Economism

    Directory of Open Access Journals (Sweden)

    P. Simons

    2010-07-01

    Full Text Available Modern society is characterised not only by a fascination with scientific technology as a means of solving all problems, especially those that stand in the way of material progress (technicism, but also by an obsessive interest in everything that has to do with money (economism or mammonism. The article discusses the relationship between technicism and economism, on the basis of their relationship to utilitarian thinking: the quest for the greatest happiness for the greatest number of people. Recent major studies of neo-liberalism (seen as an intensification of utilitarianism by Laval and Dardot are used as reference to the development of utilitarianism. It is suggested that the western view of the world, as expressed in economism and technicism, with a utilitarian ethics, features three absolutisations: those of theoretical thinking, technology and economics. In a second part, the article draws on the framework of reformational philosophy to suggest an approach that, in principle, is not marred by such absolutisations.

  8. Economic value added model upon conditions of banking company

    Directory of Open Access Journals (Sweden)

    Vlasta Kašparovská

    2008-01-01

    Full Text Available The content of this article is the application of the economic value added model (EVA upon the conditions of a banking company. Due to the character of banking business, which is in a different structure of financial sheet, it is not possible to use the standard model EVA for this banking company. The base of this article is the outlined of basic principles of the EVA mode in a non-banking company. Basic specified banking activity dissimilarities are analysed and a directed methodology adjustment of a model such as this, so that it is possible to use it for a banking company.

  9. Modeling the clinical and economic implications of obesity using microsimulation.

    Science.gov (United States)

    Su, W; Huang, J; Chen, F; Iacobucci, W; Mocarski, M; Dall, T M; Perreault, L

    2015-01-01

    The obesity epidemic has raised considerable public health concerns, but there are few validated longitudinal simulation models examining the human and economic cost of obesity. This paper describes a microsimulation model as a comprehensive tool to understand the relationship between body weight, health, and economic outcomes. Patient health and economic outcomes were simulated annually over 10 years using a Markov-based microsimulation model. The obese population examined is nationally representative of obese adults in the US from the 2005-2012 National Health and Nutrition Examination Surveys, while a matched normal weight population was constructed to have similar demographics as the obese population during the same period. Prediction equations for onset of obesity-related comorbidities, medical expenditures, economic outcomes, mortality, and quality-of-life came from published trials and studies supplemented with original research. Model validation followed International Society for Pharmacoeconomics and Outcomes Research practice guidelines. Among surviving adults, relative to a matched normal weight population, obese adults averaged $3900 higher medical expenditures in the initial year, growing to $4600 higher expenditures in year 10. Obese adults had higher initial prevalence and higher simulated onset of comorbidities as they aged. Over 10 years, excess medical expenditures attributed to obesity averaged $4280 annually-ranging from $2820 for obese category I to $5100 for obese category II, and $8710 for obese category III. Each excess kilogram of weight contributed to $140 higher annual costs, on average, ranging from $136 (obese I) to $152 (obese III). Poor health associated with obesity increased work absenteeism and mortality, and lowered employment probability, personal income, and quality-of-life. This validated model helps illustrate why obese adults have higher medical and indirect costs relative to normal weight adults, and shows that medical costs

  10. Automated economic analysis model for hazardous waste minimization

    International Nuclear Information System (INIS)

    Dharmavaram, S.; Mount, J.B.; Donahue, B.A.

    1990-01-01

    The US Army has established a policy of achieving a 50 percent reduction in hazardous waste generation by the end of 1992. To assist the Army in reaching this goal, the Environmental Division of the US Army Construction Engineering Research Laboratory (USACERL) designed the Economic Analysis Model for Hazardous Waste Minimization (EAHWM). The EAHWM was designed to allow the user to evaluate the life cycle costs for various techniques used in hazardous waste minimization and to compare them to the life cycle costs of current operating practices. The program was developed in C language on an IBM compatible PC and is consistent with other pertinent models for performing economic analyses. The potential hierarchical minimization categories used in EAHWM include source reduction, recovery and/or reuse, and treatment. Although treatment is no longer an acceptable minimization option, its use is widespread and has therefore been addressed in the model. The model allows for economic analysis for minimization of the Army's six most important hazardous waste streams. These include, solvents, paint stripping wastes, metal plating wastes, industrial waste-sludges, used oils, and batteries and battery electrolytes. The EAHWM also includes a general application which can be used to calculate and compare the life cycle costs for minimization alternatives of any waste stream, hazardous or non-hazardous. The EAHWM has been fully tested and implemented in more than 60 Army installations in the United States

  11. Schumpeterian economic dynamics as a quantifiable model of evolution

    Science.gov (United States)

    Thurner, Stefan; Klimek, Peter; Hanel, Rudolf

    2010-07-01

    We propose a simple quantitative model of Schumpeterian economic dynamics. New goods and services are endogenously produced through combinations of existing goods. As soon as new goods enter the market, they may compete against already existing goods. In other words, new products can have destructive effects on existing goods. As a result of this competition mechanism, existing goods may be driven out from the market—often causing cascades of secondary defects (Schumpeterian gales of destruction). The model leads to generic dynamics characterized by phases of relative economic stability followed by phases of massive restructuring of markets—which could be interpreted as Schumpeterian business 'cycles'. Model time series of product diversity and productivity reproduce several stylized facts of economics time series on long timescales, such as GDP or business failures, including non-Gaussian fat tailed distributions and volatility clustering. The model is phrased in an open, non-equilibrium setup which can be understood as a self-organized critical system. Its diversity dynamics can be understood by the time-varying topology of the active production networks.

  12. Assessing groundwater policy with coupled economic-groundwater hydrologic modeling

    Science.gov (United States)

    Mulligan, Kevin B.; Brown, Casey; Yang, Yi-Chen E.; Ahlfeld, David P.

    2014-03-01

    This study explores groundwater management policies and the effect of modeling assumptions on the projected performance of those policies. The study compares an optimal economic allocation for groundwater use subject to streamflow constraints, achieved by a central planner with perfect foresight, with a uniform tax on groundwater use and a uniform quota on groundwater use. The policies are compared with two modeling approaches, the Optimal Control Model (OCM) and the Multi-Agent System Simulation (MASS). The economic decision models are coupled with a physically based representation of the aquifer using a calibrated MODFLOW groundwater model. The results indicate that uniformly applied policies perform poorly when simulated with more realistic, heterogeneous, myopic, and self-interested agents. In particular, the effects of the physical heterogeneity of the basin and the agents undercut the perceived benefits of policy instruments assessed with simple, single-cell groundwater modeling. This study demonstrates the results of coupling realistic hydrogeology and human behavior models to assess groundwater management policies. The Republican River Basin, which overlies a portion of the Ogallala aquifer in the High Plains of the United States, is used as a case study for this analysis.

  13. A non-linear model of economic production processes

    Science.gov (United States)

    Ponzi, A.; Yasutomi, A.; Kaneko, K.

    2003-06-01

    We present a new two phase model of economic production processes which is a non-linear dynamical version of von Neumann's neoclassical model of production, including a market price-setting phase as well as a production phase. The rate of an economic production process is observed, for the first time, to depend on the minimum of its input supplies. This creates highly non-linear supply and demand dynamics. By numerical simulation, production networks are shown to become unstable when the ratio of different products to total processes increases. This provides some insight into observed stability of competitive capitalist economies in comparison to monopolistic economies. Capitalist economies are also shown to have low unemployment.

  14. Nonlinear Economic Model Predictive Control Strategy for Active Smart Buildings

    DEFF Research Database (Denmark)

    Santos, Rui Mirra; Zong, Yi; Sousa, Joao M. C.

    2016-01-01

    Nowadays, the development of advanced and innovative intelligent control techniques for energy management in buildings is a key issue within the smart grid topic. A nonlinear economic model predictive control (EMPC) scheme, based on the branch-and-bound tree search used as optimization algorithm ...... controller is shown very reliable keeping the comfort levels in the two considered seasons and shifting the load away from peak hours in order to achieve the desired flexible electricity consumption.......Nowadays, the development of advanced and innovative intelligent control techniques for energy management in buildings is a key issue within the smart grid topic. A nonlinear economic model predictive control (EMPC) scheme, based on the branch-and-bound tree search used as optimization algorithm...

  15. Economic model predictive control theory, formulations and chemical process applications

    CERN Document Server

    Ellis, Matthew; Christofides, Panagiotis D

    2017-01-01

    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...

  16. Modeling hard clinical end-point data in economic analyses.

    Science.gov (United States)

    Kansal, Anuraag R; Zheng, Ying; Palencia, Roberto; Ruffolo, Antonio; Hass, Bastian; Sorensen, Sonja V

    2013-11-01

    The availability of hard clinical end-point data, such as that on cardiovascular (CV) events among patients with type 2 diabetes mellitus, is increasing, and as a result there is growing interest in using hard end-point data of this type in economic analyses. This study investigated published approaches for modeling hard end-points from clinical trials and evaluated their applicability in health economic models with different disease features. A review of cost-effectiveness models of interventions in clinically significant therapeutic areas (CV diseases, cancer, and chronic lower respiratory diseases) was conducted in PubMed and Embase using a defined search strategy. Only studies integrating hard end-point data from randomized clinical trials were considered. For each study included, clinical input characteristics and modeling approach were summarized and evaluated. A total of 33 articles (23 CV, eight cancer, two respiratory) were accepted for detailed analysis. Decision trees, Markov models, discrete event simulations, and hybrids were used. Event rates were incorporated either as constant rates, time-dependent risks, or risk equations based on patient characteristics. Risks dependent on time and/or patient characteristics were used where major event rates were >1%/year in models with fewer health states (Models of infrequent events or with numerous health states generally preferred constant event rates. The detailed modeling information and terminology varied, sometimes requiring interpretation. Key considerations for cost-effectiveness models incorporating hard end-point data include the frequency and characteristics of the relevant clinical events and how the trial data is reported. When event risk is low, simplification of both the model structure and event rate modeling is recommended. When event risk is common, such as in high risk populations, more detailed modeling approaches, including individual simulations or explicitly time-dependent event rates, are

  17. Estimation of Continuous Time Models in Economics: an Overview

    OpenAIRE

    Clifford R. Wymer

    2009-01-01

    The dynamics of economic behaviour is often developed in theory as a continuous time system. Rigorous estimation and testing of such systems, and the analysis of some aspects of their properties, is of particular importance in distinguishing between competing hypotheses and the resulting models. The consequences for the international economy during the past eighteen months of failures in the financial sector, and particularly the banking sector, make it essential that the dynamics of financia...

  18. Dynamic ecological-economic modeling approach for management of shellfish aquaculture

    CSIR Research Space (South Africa)

    Nobre, AM

    2008-02-01

    Full Text Available The objective of this report is to conceptualize ecological and economic interactions in mariculture; to implement a dynamic ecological-economic model in order to: simulate the socio-economics of aquaculture production, simulate its effects...

  19. An Economic Model of U.S. Airline Operating Expenses

    Science.gov (United States)

    Harris, Franklin D.

    2005-01-01

    This report presents a new economic model of operating expenses for 67 airlines. The model is based on data that the airlines reported to the United States Department of Transportation in 1999. The model incorporates expense-estimating equations that capture direct and indirect expenses of both passenger and cargo airlines. The variables and business factors included in the equations are detailed enough to calculate expenses at the flight equipment reporting level. Total operating expenses for a given airline are then obtained by summation over all aircraft operated by the airline. The model's accuracy is demonstrated by correlation with the DOT Form 41 data from which it was derived. Passenger airlines are more accurately modeled than cargo airlines. An appendix presents a concise summary of the expense estimating equations with explanatory notes. The equations include many operational and aircraft variables, which accommodate any changes that airline and aircraft manufacturers might make to lower expenses in the future. In 1999, total operating expenses of the 67 airlines included in this study amounted to slightly over $100.5 billion. The economic model reported herein estimates $109.3 billion.

  20. Investigation of international energy economics. [Use of econometric model EXPLOR

    Energy Technology Data Exchange (ETDEWEB)

    Deonigi, D.E.; Clement, M.; Foley, T.J.; Rao, S.A.

    1977-03-01

    The Division of International Affairs of the Energy Research and Development Administration is assessing the long-range economic effects of energy research and development programs in the U.S. and other countries, particularly members of the International Energy Agency (IEA). In support of this effort, a program was designed to coordinate the capabilities of five research groups--Rand, Virginia Polytechnic Institute, Brookhaven National Laboratory, Lawrence Livermore Laboratory, and Pacific Northwest Laboratory. The program could evaluate the international economics of proposed or anticipated sources of energy. This program is designed to be general, flexible, and capable of evaluating a diverse collection of potential energy (nuclear and nonnuclear) related problems. For example, the newly developed methodology could evaluate the international and domestic economic impact of nuclear-related energy sources, but also existing nonnuclear and potential energy sources such as solar, geothermal, wind, etc. Major items to be included would be the cost of exploration, cost of production, prices, profit, market penetration, investment requirements and investment goods, economic growth, change in balance of payments, etc. In addition, the changes in cost of producing all goods and services would be identified for each new energy source. PNL developed (1) a means of estimating the demands for major forms of energy by country, and (2) a means of identifying results or impacts on each country. The results for each country were then to be compared to assess relative advantages. PNL relied on its existing general econometric model, EXPLOR, to forecast the demand for energy by country. (MCW)

  1. Sophisticated Communication in the Brazilian Torrent Frog Hylodes japi.

    Science.gov (United States)

    de Sá, Fábio P; Zina, Juliana; Haddad, Célio F B

    2016-01-01

    Intraspecific communication in frogs plays an important role in the recognition of conspecifics in general and of potential rivals or mates in particular and therefore with relevant consequences for pre-zygotic reproductive isolation. We investigate intraspecific communication in Hylodes japi, an endemic Brazilian torrent frog with territorial males and an elaborate courtship behavior. We describe its repertoire of acoustic signals as well as one of the most complex repertoires of visual displays known in anurans, including five new visual displays. Previously unknown in frogs, we also describe a bimodal inter-sexual communication system where the female stimulates the male to emit a courtship call. As another novelty for frogs, we show that in addition to choosing which limb to signal with, males choose which of their two vocal sacs will be used for visual signaling. We explain how and why this is accomplished. Control of inflation also provides additional evidence that vocal sac movement and color must be important for visual communication, even while producing sound. Through the current knowledge on visual signaling in Neotropical torrent frogs (i.e. hylodids), we discuss and highlight the behavioral diversity in the family Hylodidae. Our findings indicate that communication in species of Hylodes is undoubtedly more sophisticated than we expected and that visual communication in anurans is more widespread than previously thought. This is especially true in tropical regions, most likely due to the higher number of species and phylogenetic groups and/or to ecological factors, such as higher microhabitat diversity.

  2. Sophisticated Communication in the Brazilian Torrent Frog Hylodes japi.

    Directory of Open Access Journals (Sweden)

    Fábio P de Sá

    Full Text Available Intraspecific communication in frogs plays an important role in the recognition of conspecifics in general and of potential rivals or mates in particular and therefore with relevant consequences for pre-zygotic reproductive isolation. We investigate intraspecific communication in Hylodes japi, an endemic Brazilian torrent frog with territorial males and an elaborate courtship behavior. We describe its repertoire of acoustic signals as well as one of the most complex repertoires of visual displays known in anurans, including five new visual displays. Previously unknown in frogs, we also describe a bimodal inter-sexual communication system where the female stimulates the male to emit a courtship call. As another novelty for frogs, we show that in addition to choosing which limb to signal with, males choose which of their two vocal sacs will be used for visual signaling. We explain how and why this is accomplished. Control of inflation also provides additional evidence that vocal sac movement and color must be important for visual communication, even while producing sound. Through the current knowledge on visual signaling in Neotropical torrent frogs (i.e. hylodids, we discuss and highlight the behavioral diversity in the family Hylodidae. Our findings indicate that communication in species of Hylodes is undoubtedly more sophisticated than we expected and that visual communication in anurans is more widespread than previously thought. This is especially true in tropical regions, most likely due to the higher number of species and phylogenetic groups and/or to ecological factors, such as higher microhabitat diversity.

  3. Tax Compliance Models: From Economic to Behavioral Approaches

    Directory of Open Access Journals (Sweden)

    Larissa Margareta BĂTRÂNCEA

    2012-06-01

    Full Text Available The paper reviews the models of tax compliance with an emphasis on economic and behavioral perspectives. Although the standard tax evasion model of Allingham and Sandmo and other similar economic models capture some important aspects of tax compliance (i.e., taxpayers’ response to increases in tax rate, audit probability, penalty rate they do not suffice the need for an accurate prediction of taxpayers’ behavior. The reason is that they do not offer a comprehensive perspective on the sociological and psychological factors which shape compliance (i.e., attitudes, beliefs, norms, perceptions, motivations. Therefore, the researchers have considered examining taxpayers’ inner motivations, beliefs, perceptions, attitudes in order to accurately predict taxpayers’ behavior. As a response to their quest, behavioral models of tax compliance have emerged. Among the sociological and psychological factors which shape tax compliance, the ‘slippery slope’ framework singles out trust in authorities and the perception of the power of authorities. The aim of the paper is to contribute to the understanding of the reasons for which there is a need for a tax compliance model which incorporates both economic and behavioral features and why governments and tax authorities should consider these models when designing fiscal policies.

  4. A model to determine the economic viability of water fluoridation.

    Science.gov (United States)

    Kroon, Jeroen; van Wyk, Philippus Johannes

    2012-01-01

    In view of concerns expressed by South African local authorities the aim of this study was to develop a model to determine whether water fluoridation is economically viable to reduce dental caries in South Africa. Microsoft Excel software was used to develop a model to determine economic viability of water fluoridation for 17 water providers from all nine South African provinces. Input variables for this model relate to chemical cost, labor cost, maintenance cost of infrastructure, opportunity cost, and capital depreciation. The following output variables were calculated to evaluate the cost of water fluoridation: per capita cost per year, cost-effectiveness and cost-benefit. In this model it is assumed that the introduction of community water fluoridation can reduce caries prevalence by an additional 15 percent and that the savings in cost of treatment will be equal to the average fee for a two surface restoration. Water providers included in the study serve 53.5 percent of the total population of South Africa. For all providers combined chemical cost contributes 64.5 percent to the total cost, per capita cost per year was $0.36, cost-effectiveness was calculated as $11.41 and cost-benefit of the implementation of water fluoridation was 0.34. This model confirmed that water fluoridation is an economically viable option to prevent dental caries in South African communities, as well as conclusions over the last 10 years that water fluoridation leads to significant cost savings and remains a cost-effective measure for reducing dental caries, even when the caries-preventive effectiveness is modest. © 2012 American Association of Public Health Dentistry.

  5. Mathematical modeling in economics, ecology and the environment

    CERN Document Server

    Hritonenko, Natali

    2013-01-01

    Updated to textbook form by popular demand, this second edition discusses diverse mathematical models used in economics, ecology, and the environmental sciences with emphasis on control and optimization. It is intended for graduate and upper-undergraduate course use, however, applied mathematicians, industry practitioners, and a vast number of interdisciplinary academics will find the presentation highly useful. Core topics of this text are: ·         Economic growth and technological development ·         Population dynamics and human impact on the environment ·         Resource extraction and scarcity ·         Air and water contamination ·         Rational management of the economy and environment ·         Climate change and global dynamics The step-by-step approach taken is problem-based and easy to follow. The authors aptly demonstrate that the same models may be used to describe different economic and environmental processes and that similar invest...

  6. Financial Transaction Tax: Determination of Economic Impact Under DSGE Model

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2015-01-01

    Full Text Available The discussion about the possible taxation of the financial sector has started in the European Union as a result of the financial crisis which has spread to the Europe from the United States in 2008 and consequently of the massive financial interventions by governments made in favour of the financial sector. On 14 February 2013, after rejection of the draft of the directive introducing a common system of financial transaction tax in 2011, the European Commission introduced the financial transaction tax through enhanced cooperation. The aim of the paper is to research economic impact of financial transaction tax on EU (EU27 or EU11 with respect to the DSGE model which was used for the determination of impacts. Based on our analysis the DSGE model can be considered as underestimated in case of the impact on economic growth and an overestimated in case of the revenue collection. Particularly, the overall impact of the financial transaction tax considering cascade effects of securities (tax rate 2.2% and derivatives (tax rate 0.2% is ranged between −4.752 and 1.472 percent points of GDP. And further, is assumed that the relocation effects of business/trade can be in average 40% causes a decline of expected tax revenues in the amount of 13bn EUR. Thus, at a time of fragile economic growth across the EU and the increased risk of recession in Europe, the introduction of the FTT should be undesirable.

  7. Electric vehicle charge planning using Economic Model Predictive Control

    DEFF Research Database (Denmark)

    Halvgaard, Rasmus; Poulsen, Niels K.; Madsen, Henrik

    2012-01-01

    Economic Model Predictive Control (MPC) is very well suited for controlling smart energy systems since electricity price and demand forecasts are easily integrated in the controller. Electric vehicles (EVs) are expected to play a large role in the future Smart Grid. They are expected to provide...... grid services, both for peak reduction and for ancillary services, by absorbing short term variations in the electricity production. In this paper the Economic MPC minimizes the cost of electricity consumption for a single EV. Simulations show savings of 50–60% of the electricity costs compared...... to uncontrolled charging from load shifting based on driving pattern predictions. The future energy system in Denmark will most likely be based on renewable energy sources e.g. wind and solar power. These green energy sources introduce stochastic fluctuations in the electricity production. Therefore, energy...

  8. CLUSTERS AS A MODEL OF ECONOMIC DEVELOPMENT OF SERBIA

    Directory of Open Access Journals (Sweden)

    Marko Laketa

    2013-12-01

    Full Text Available Insufficient competitiveness of small and medium enterprises in Serbia can be significantly improved by a system of business associations through clusters, business incubators and technology parks. This connection contributes to the growth and development of not only the cluster members, but has a regional and national dimension as well because without it there is no significant breakthrough on the international market. The process of association of small and medium enterprises in clusters and other forms of interconnection in Serbia is far from the required and potential level.The awareness on the importance of clusters in a local economic development through contributions to the advancement of small and medium sized enterprises is not yet sufficiently mature. Support to associating into clusters and usage of their benefits after the model of highly developed countries is the basis for leading a successful economic policy and in Serbia there are all necessary prerequisites for it.

  9. Toward linking demographic and economic models for impact assessment

    International Nuclear Information System (INIS)

    Williams, C.A.; Meenan, C.D.

    1991-01-01

    One of the objectives of the Yucca Mountain Project, in Southern Nevada, is to evaluate the effects of the development of a high-level nuclear waste repository. As described in the Section 175 Report to the Congress of the US, the temporal scope of this repository project encompasses approximately 70 years and includes four phases: Site characterization and licensing, construction, operation, and closure and decommissioning. If retrieval of the waste were to be required, the temporal scope of the repository project could be extended to approximately 100 years. The study of the potential socioeconomic effects of this project is the foundation for this paper. This paper focuses on the economic and demographic aspects and a possible method to interface the two. First, the authors briefly discuss general socioeconomic modeling theory from a county level view point, as well as methods for the apportionment of county level data to sub-county areas. Next, the authors describe the unique economic and demographic conditions which exist in Nevada at both the state and county levels. Finally, the authors evaluate a possible procedure for analyzing repository effects at a sub-county level; this involves discussion of an interface linking the economic and demographic aspects, which is based on the reconciliation of supply and demand for labor. The authors conclude that the basis for further model development may rely on the interaction of supply and demand to produce change in wage rates. These changes in expected wages should be a justification for allocating economic migrants (who may respond to Yucca Mountain Project development) into various communities

  10. Library of sophisticated functions for analysis of nuclear spectra

    Science.gov (United States)

    Morháč, Miroslav; Matoušek, Vladislav

    2009-10-01

    In the paper we present compact library for analysis of nuclear spectra. The library consists of sophisticated functions for background elimination, smoothing, peak searching, deconvolution, and peak fitting. The functions can process one- and two-dimensional spectra. The software described in the paper comprises a number of conventional as well as newly developed methods needed to analyze experimental data. Program summaryProgram title: SpecAnalysLib 1.1 Catalogue identifier: AEDZ_v1_0 Program summary URL:http://cpc.cs.qub.ac.uk/summaries/AEDZ_v1_0.html Program obtainable from: CPC Program Library, Queen's University, Belfast, N. Ireland Licensing provisions: Standard CPC licence, http://cpc.cs.qub.ac.uk/licence/licence.html No. of lines in distributed program, including test data, etc.: 42 154 No. of bytes in distributed program, including test data, etc.: 2 379 437 Distribution format: tar.gz Programming language: C++ Computer: Pentium 3 PC 2.4 GHz or higher, Borland C++ Builder v. 6. A precompiled Windows version is included in the distribution package Operating system: Windows 32 bit versions RAM: 10 MB Word size: 32 bits Classification: 17.6 Nature of problem: The demand for advanced highly effective experimental data analysis functions is enormous. The library package represents one approach to give the physicists the possibility to use the advanced routines simply by calling them from their own programs. SpecAnalysLib is a collection of functions for analysis of one- and two-parameter γ-ray spectra, but they can be used for other types of data as well. The library consists of sophisticated functions for background elimination, smoothing, peak searching, deconvolution, and peak fitting. Solution method: The algorithms of background estimation are based on Sensitive Non-linear Iterative Peak (SNIP) clipping algorithm. The smoothing algorithms are based on the convolution of the original data with several types of filters and algorithms based on discrete

  11. Unification and mechanistic detail as drivers of model construction: models of networks in economics and sociology.

    Science.gov (United States)

    Kuorikoski, Jaakko; Marchionni, Caterina

    2014-12-01

    We examine the diversity of strategies of modelling networks in (micro) economics and (analytical) sociology. Field-specific conceptions of what explaining (with) networks amounts to or systematic preference for certain kinds of explanatory factors are not sufficient to account for differences in modelling methodologies. We argue that network models in both sociology and economics are abstract models of network mechanisms and that differences in their modelling strategies derive to a large extent from field-specific conceptions of the way in which a good model should be a general one. Whereas the economics models aim at unification, the sociological models aim at a set of mechanism schemas that are extrapolatable to the extent that the underlying psychological mechanisms are general. These conceptions of generality induce specific biases in mechanistic explanation and are related to different views of when knowledge from different fields should be seen as relevant.

  12. Clinical laboratory as an economic model for business performance analysis.

    Science.gov (United States)

    Buljanović, Vikica; Patajac, Hrvoje; Petrovecki, Mladen

    2011-08-15

    To perform SWOT (strengths, weaknesses, opportunities, and threats) analysis of a clinical laboratory as an economic model that may be used to improve business performance of laboratories by removing weaknesses, minimizing threats, and using external opportunities and internal strengths. Impact of possible threats to and weaknesses of the Clinical Laboratory at Našice General County Hospital business performance and use of strengths and opportunities to improve operating profit were simulated using models created on the basis of SWOT analysis results. The operating profit as a measure of profitability of the clinical laboratory was defined as total revenue minus total expenses and presented using a profit and loss account. Changes in the input parameters in the profit and loss account for 2008 were determined using opportunities and potential threats, and economic sensitivity analysis was made by using changes in the key parameters. The profit and loss account and economic sensitivity analysis were tools for quantifying the impact of changes in the revenues and expenses on the business operations of clinical laboratory. Results of simulation models showed that operational profit of €470 723 in 2008 could be reduced to only €21 542 if all possible threats became a reality and current weaknesses remained the same. Also, operational gain could be increased to €535 804 if laboratory strengths and opportunities were utilized. If both the opportunities and threats became a reality, the operational profit would decrease by €384 465. The operational profit of the clinical laboratory could be significantly reduced if all threats became a reality and the current weaknesses remained the same. The operational profit could be increased by utilizing strengths and opportunities as much as possible. This type of modeling may be used to monitor business operations of any clinical laboratory and improve its financial situation by implementing changes in the next fiscal

  13. Clinical laboratory as an economic model for business performance analysis

    Science.gov (United States)

    Buljanović, Vikica; Patajac, Hrvoje; Petrovečki, Mladen

    2011-01-01

    Aim To perform SWOT (strengths, weaknesses, opportunities, and threats) analysis of a clinical laboratory as an economic model that may be used to improve business performance of laboratories by removing weaknesses, minimizing threats, and using external opportunities and internal strengths. Methods Impact of possible threats to and weaknesses of the Clinical Laboratory at Našice General County Hospital business performance and use of strengths and opportunities to improve operating profit were simulated using models created on the basis of SWOT analysis results. The operating profit as a measure of profitability of the clinical laboratory was defined as total revenue minus total expenses and presented using a profit and loss account. Changes in the input parameters in the profit and loss account for 2008 were determined using opportunities and potential threats, and economic sensitivity analysis was made by using changes in the key parameters. The profit and loss account and economic sensitivity analysis were tools for quantifying the impact of changes in the revenues and expenses on the business operations of clinical laboratory. Results Results of simulation models showed that operational profit of €470 723 in 2008 could be reduced to only €21 542 if all possible threats became a reality and current weaknesses remained the same. Also, operational gain could be increased to €535 804 if laboratory strengths and opportunities were utilized. If both the opportunities and threats became a reality, the operational profit would decrease by €384 465. Conclusion The operational profit of the clinical laboratory could be significantly reduced if all threats became a reality and the current weaknesses remained the same. The operational profit could be increased by utilizing strengths and opportunities as much as possible. This type of modeling may be used to monitor business operations of any clinical laboratory and improve its financial situation by

  14. Modelling the economic consequences of Marine Protected Areas using the BEMCOM model

    DEFF Research Database (Denmark)

    Hoff, A.; Andersen, J.L.; Christensen, Asbjørn

    2013-01-01

    the question ‘what’s best?’, i.e. finds the overall optimal effort allocation, from an economic point of view, between multiple harvesting fleets fishing under a subset of restrictions on catches and effort levels. The BEMCOM model is described and applied to the case of the Danish sandeel fishery in the North......This paper introduces and describes in detail the bioeconomic optimization model BEMCOM (BioEconomic Model to evaluate the COnsequences of Marine protected areas) that has been developed to assess the economic effects of introducing Marine Protected Areas (MPA) for fisheries. BEMCOM answers...... Sea. It has several times been suggested to close parts of the sandeel fishery in the North Sea out of concern for other species feeding on sandeel and/or spawning in the sandeel habitats. The economic effects of such closures have been assessed using BEMCOM. The results indicate that the model yields...

  15. Direct regional energy/economic modeling (DREEM) design

    Energy Technology Data Exchange (ETDEWEB)

    Hall, P.D.; Pleatsikas, C.J.

    1979-10-01

    This report summarizes an investigation into the use of regional and multiregional economic models for estimating the indirect and induced impacts of Federally-mandated energy policies. It includes an examination of alternative types of energy policies that can impact regional economies and the available analytical frameworks for measuring the magnitudes and spatial extents of these impacts. One such analytical system, the National Regional Impact Evaluation System (NRIES), currently operational in the Bureau of Economic Analysis (BEA), is chosen for more detailed investigation. The report summarizes the models capabilities for addressing various energy policy issues and then demonstrates the applicability of the model in specified contexts by developing appropriate input data for three scenarios. These scenarios concern the multi-state impacts of alternative coal-mining-development decisions, multi-regional impacts of macroeconomic change, and the comprehensive effects of an alternative national energy supply trajectory. On the basis of this experience, the capabilities of NRIES for analyzing energy-policy issues are summarized in a concluding chapter.

  16. Empirical Bayes Credibility Models for Economic Catastrophic Losses by Regions

    Directory of Open Access Journals (Sweden)

    Jindrová Pavla

    2017-01-01

    Full Text Available Catastrophic events affect various regions of the world with increasing frequency and intensity. The number of catastrophic events and the amount of economic losses is varying in different world regions. Part of these losses is covered by insurance. Catastrophe events in last years are associated with increases in premiums for some lines of business. The article focus on estimating the amount of net premiums that would be needed to cover the total or insured catastrophic losses in different world regions using Bühlmann and Bühlmann-Straub empirical credibility models based on data from Sigma Swiss Re 2010-2016. The empirical credibility models have been developed to estimate insurance premiums for short term insurance contracts using two ingredients: past data from the risk itself and collateral data from other sources considered to be relevant. In this article we deal with application of these models based on the real data about number of catastrophic events and about the total economic and insured catastrophe losses in seven regions of the world in time period 2009-2015. Estimated credible premiums by world regions provide information how much money in the monitored regions will be need to cover total and insured catastrophic losses in next year.

  17. Partial differential equation models in the socio-economic sciences.

    Science.gov (United States)

    Burger, Martin; Caffarelli, Luis; Markowich, Peter A

    2014-11-13

    Mathematical models based on partial differential equations (PDEs) have become an integral part of quantitative analysis in most branches of science and engineering, recently expanding also towards biomedicine and socio-economic sciences. The application of PDEs in the latter is a promising field, but widely quite open and leading to a variety of novel mathematical challenges. In this introductory article of the Theme Issue, we will provide an overview of the field and its recent boosting topics. Moreover, we will put the contributions to the Theme Issue in an appropriate perspective. © 2014 The Author(s) Published by the Royal Society. All rights reserved.

  18. A mean-field game economic growth model

    KAUST Repository

    Gomes, Diogo A.

    2016-08-05

    Here, we examine a mean-field game (MFG) that models the economic growth of a population of non-cooperative, rational agents. In this MFG, agents are described by two state variables - the capital and consumer goods they own. Each agent seeks to maximize his/her utility by taking into account statistical data about the whole population. The individual actions drive the evolution of the players, and a market-clearing condition determines the relative price of capital and consumer goods. We study the existence and uniqueness of optimal strategies of the agents and develop numerical methods to compute these strategies and the equilibrium price.

  19. Germany's socio-economic model and the Euro crisis

    Directory of Open Access Journals (Sweden)

    Michael Dauderstädt

    2013-03-01

    Full Text Available Germany's socio-economic model, the "social market economy", was established in West Germany after World War II and extended to the unified Germany in 1990. During a prolonged recession after the adoption of the Euro in 1998, major reforms (Agenda 2010 were introduced which many consider as the key of Germany's recent success. The reforms had mixed results: employment increased but has consisted to a large extent of precarious low-wage jobs. Growth depended on export surpluses based on an internal real devaluation (low unit labour costs which make Germany vulnerable to global recessions as in 2009. Overall inequality increased substantially.

  20. Partial differential equation models in the socio-economic sciences

    KAUST Repository

    Burger, Martin

    2014-10-06

    Mathematical models based on partial differential equations (PDEs) have become an integral part of quantitative analysis in most branches of science and engineering, recently expanding also towards biomedicine and socio-economic sciences. The application of PDEs in the latter is a promising field, but widely quite open and leading to a variety of novel mathematical challenges. In this introductory article of the Theme Issue, we will provide an overview of the field and its recent boosting topics. Moreover, we will put the contributions to the Theme Issue in an appropriate perspective.

  1. ANALYSIS OF ECONOMIC MODELS OF POTATO PRODUCTION IN MONTENEGRO

    Directory of Open Access Journals (Sweden)

    Miomir JOVANOVIC

    2014-04-01

    Full Text Available The northern region of Montenegro represents a very important resource for agricultural production. However, the depopulation of the analysed area, pronounced in-kind character of production without significant participation of market producers, lack of market research, stronger vertical and horizontal connection between primary production and processing sectors have significant impacts causing the low level of competitiveness of agricultural production. Potato production in the analysed area has recorded positive trends in last ten years. This paper presents economic models of agriculture households on the analysed area from the potatoes production point of view.

  2. Systematization and sophistication of a comprehensive sensitivity analysis program. Phase 2

    International Nuclear Information System (INIS)

    Oyamada, Kiyoshi; Ikeda, Takao

    2004-02-01

    This study developed minute estimation by adopting comprehensive sensitivity analytical program for reliability of TRU waste repository concepts in a crystalline rock condition. We examined each components and groundwater scenario of geological repository and prepared systematic bases to examine the reliability from the point of comprehensiveness. Models and data are sophisticated to examine the reliability. Based on an existing TRU waste repository concepts, effects of parameters to nuclide migration were quantitatively classified. Those parameters, that will be decided quantitatively, are such as site character of natural barrier and design specification of engineered barriers. Considering the feasibility of those figures of specifications, reliability is re-examined on combinations of those parameters within a practical range. Future issues are; Comprehensive representation of hybrid geosphere model including the fractured medium and permeable matrix medium. Sophistication of tools to develop the reliable combinations of parameters. It is significant to continue this study because the disposal concepts and specification of TRU nuclides containing waste on various sites shall be determined rationally and safely through these studies. (author)

  3. Economic man as model man: Ideal types, idealization and caricatures

    NARCIS (Netherlands)

    Morgan, M.S.

    2006-01-01

    Economics revolves around a central character: "economic man." As historians, we are all familiar with various episodes in the history of this character, and we appreciate his ever-changing aspect even while many of our colleagues in economics think the rational economic agent of neoclassical

  4. Process model economics of xanthan production from confectionery industry wastewaters.

    Science.gov (United States)

    Bajić, Bojana Ž; Vučurović, Damjan G; Dodić, Siniša N; Grahovac, Jovana A; Dodić, Jelena M

    2017-12-01

    In this research a process and cost model for a xanthan production facility was developed using process simulation software (SuperPro Designer ® ). This work represents a novelty in the field for two reasons. One is that xanthan gum has been produced from several wastes but never from wastewaters from confectionery industries. The other more important is that the aforementioned software, which in intended exclusively for bioprocesses, is used for generating a base case, i.e. starting point for transferring the technology to industrial scales. Previously acquired experimental knowledge about using confectionery wastewaters from five different factories as substitutes for commercially used cultivation medium have been incorporated into the process model in order to obtain an economic viability of implementing such substrates. A lower initial sugar content in the medium based on wastewater (28.41 g/L) compared to the synthetic medium (30.00 g/L) gave a lower xanthan content at the end of cultivation (23.98 and 26.27 g/L, respectively). Although this resulted in somewhat poorer economic parameters, they were still in the range of being an investment of interest. Also the possibility of utilizing a cheap resource (waste) and reducing pollution that would result from its disposal has a positive effect on the environment. Copyright © 2017 Elsevier Ltd. All rights reserved.

  5. OBJECT ORIENTED MODELLING, A MODELLING METHOD OF AN ECONOMIC ORGANIZATION ACTIVITY

    Directory of Open Access Journals (Sweden)

    TĂNĂSESCU ANA

    2014-05-01

    Full Text Available Now, most economic organizations use different information systems types in order to facilitate their activity. There are different methodologies, methods and techniques that can be used to design information systems. In this paper, I propose to present the advantages of using the object oriented modelling at the information system design of an economic organization. Thus, I have modelled the activity of a photo studio, using Visual Paradigm for UML as a modelling tool. For this purpose, I have identified the use cases for the analyzed system and I have presented the use case diagram. I have, also, realized the system static and dynamic modelling, through the most known UML diagrams.

  6. Economic Model Predictive Control for Spray Drying Plants

    DEFF Research Database (Denmark)

    Petersen, Lars Norbert

    and a complexity reduced control model is used for state estimation and prediction in the controllers. These models facilitate development and comparison of control strategies. We develop two MPC strategies; a linear tracking MPC with a Real-Time Optimization layer (MPC with RTO) and an Economic Nonlinear MPC (E...... horizon, out of which only the first input is applied to the dryer. This procedure is repeated at each sample instant and is solved numerically in real-time. The MPC with RTO tracks a target that optimizes the cost of operation at steady-state. The E-MPC optimizes the cost of operation directly by having...... this objective directly in the controller. The need for the RTO layer is then eliminated. We demonstrate the application of the proposed MPC with RTO to control an industrial GEA MSDTM-1250 spray dryer, which produces approximately 7500 kg/hr of enriched milk powder. Compared to the conventional PI controller...

  7. Risk reserve constrained economic dispatch model with wind power penetration

    Energy Technology Data Exchange (ETDEWEB)

    Zhou, W.; Sun, H.; Peng, Y. [Department of Electrical and Electronics Engineering, Dalian University of Technology, Dalian, 116024 (China)

    2010-12-15

    This paper develops a modified economic dispatch (ED) optimization model with wind power penetration. Due to the uncertain nature of wind speed, both overestimation and underestimation of the available wind power are compensated using the up and down spinning reserves. In order to determine both of these two reserve demands, the risk-based up and down spinning reserve constraints are presented considering not only the uncertainty of available wind power, but also the load forecast error and generator outage rates. The predictor-corrector primal-dual interior point method is utilized to solve the proposed ED model. Simulation results of a system with ten conventional generators and one wind farm demonstrate the effectiveness of the proposed method. (authors)

  8. Economic implications of Japan's aging population: a macro-economic demographic modeling approach.

    Science.gov (United States)

    Ogawa, N

    1982-01-01

    This paper utilizes a macroeconomic demographic model to analyze the probable impact of population aging on various public programs in Japan. Rapid fertility decline aided by mortality decline has caused the proportion of the Japanese population aged 65 and over to increase from 4.9% in 1950 to 9.0% in 1980. A population projection based on the 1975 population census assumes a recovery of fertility from a total fertility rate (TFR) of 1.9 in 1976 to 2.16 in 1980 and a gradual decline to 2.1 by 1987, while an alternative projection assumes a continuing fertility decline to a TFR of 1.65 in 2025. According to these assumptions, in 2025 18.12% to 21.29% of the total population would be aged 65 or over and 38.66% to 43.80% of the working age population would be aged 45-64. A macroeconomic neoclassical growth model with some Keynesian features was formulated to evaluate the future impact of population aging on social security programs. Population changes are transmitted to economic variables in the model through the supply of labor, level of savings, public health care plans, and old-age pension schemes. The simulation experiments included the 2 population projections and 2 alternative production functions, 1 with the quality of labor incorporated and 1 without. The results indicated that, regardless of the population projection and production function used, the growth of the economy is likely to slow to 1 or 0% in the beginning of the next century due to decreased growth of the labor force and a change in its quality due to age-compositional variations. Public health insurance schemes and pension plans will require increasing financial resources as a result of accelerated population aging; depending on the choice of benefit levels, the proportion of national income allocated to them is expected to range from 14%-40% in the year 2010. Per capita gross national product will continue to grow despite decreased economic growth, but savings might be adversely affected if the

  9. Sophisticated Search Capabilities in the ADS Abstract Service

    Science.gov (United States)

    Eichhorn, G.; Accomazzi, A.; Grant, C. S.; Henneken, E.; Kurtz, M. J.; Murray, S. S.

    2003-12-01

    The ADS provides access to over 940,000 references from astronomy and planetary sciences publications and 1.5 million records from physics publications. It is funded by NASA and provides free access to these references, as well as to 2.4 million scanned pages from the astronomical literature. These include most of the major astronomy and several planetary sciences journals, as well as many historical observatory publications. The references now include the abstracts from all volumes of the Journal of Geophysical Research (JGR) since the beginning of 2002. We get these abstracts on a regular basis. The Kluwer journal Solar Physics has been scanned back to volume 1 and is available through the ADS. We have extracted the reference lists from this and many other journals and included them in the reference and citation database of the ADS. We have recently scanning Earth, Moon and Planets, another Kluwer journal, and will scan other Kluwer journals in the future as well. We plan on extracting references from these journals as well in the near future. The ADS has many sophisticated query features. These allow the user to formulate complex queries. Using results lists to get further information about the selected articles provide the means to quickly find important and relevant articles from the database. Three advanced feedback queries are available from the bottom of the ADS results list (in addition to regular feedback queries already available from the abstract page and from the bottom of the results list): 1. Get reference list for selected articles: This query returns all known references for the selected articles (or for all articles in the first list). The resulting list will be ranked according to how often each article is referred to and will show the most referenced articles in the field of study that created the first list. It presumably shows the most important articles in that field. 2. Get citation list for selected articles: This returns all known articles

  10. Applied economic model development algorithm for electronics company

    Directory of Open Access Journals (Sweden)

    Mikhailov I.

    2017-01-01

    Full Text Available The purpose of this paper is to report about received experience in the field of creating the actual methods and algorithms that help to simplify development of applied decision support systems. It reports about an algorithm, which is a result of two years research and have more than one-year practical verification. In a case of testing electronic components, the time of the contract conclusion is crucial point to make the greatest managerial mistake. At this stage, it is difficult to achieve a realistic assessment of time-limit and of wage-fund for future work. The creation of estimating model is possible way to solve this problem. In the article is represented an algorithm for creation of those models. The algorithm is based on example of the analytical model development that serves for amount of work estimation. The paper lists the algorithm’s stages and explains their meanings with participants’ goals. The implementation of the algorithm have made possible twofold acceleration of these models development and fulfilment of management’s requirements. The resulting models have made a significant economic effect. A new set of tasks was identified to be further theoretical study.

  11. Eliciting expert opinion for economic models: an applied example.

    Science.gov (United States)

    Leal, José; Wordsworth, Sarah; Legood, Rosa; Blair, Edward

    2007-01-01

    Expert opinion is considered as a legitimate source of information for decision-analytic modeling where required data are unavailable. Our objective was to develop a practical computer-based tool for eliciting expert opinion about the shape of the uncertainty distribution around individual model parameters. We first developed a prepilot survey with departmental colleagues to test a number of alternative approaches to eliciting opinions on the shape of the uncertainty distribution around individual parameters. This information was used to develop a survey instrument for an applied clinical example. This involved eliciting opinions from experts to inform a number of parameters involving Bernoulli processes in an economic model evaluating DNA testing for families with a genetic disease, hypertrophic cardiomyopathy. The experts were cardiologists, clinical geneticists, and laboratory scientists working with cardiomyopathy patient populations and DNA testing. Our initial prepilot work suggested that the more complex elicitation techniques advocated in the literature were difficult to use in practice. In contrast, our approach achieved a reasonable response rate (50%), provided logical answers, and was generally rated as easy to use by respondents. The computer software user interface permitted graphical feedback throughout the elicitation process. The distributions obtained were incorporated into the model, enabling the use of probabilistic sensitivity analysis. There is clearly a gap in the literature between theoretical elicitation techniques and tools that can be used in applied decision-analytic models. The results of this methodological study are potentially valuable for other decision analysts deriving expert opinion.

  12. Global economic consequences of selected surgical diseases: a modelling study.

    Science.gov (United States)

    Alkire, Blake C; Shrime, Mark G; Dare, Anna J; Vincent, Jeffrey R; Meara, John G

    2015-04-27

    The surgical burden of disease is substantial, but little is known about the associated economic consequences. We estimate the global macroeconomic impact of the surgical burden of disease due to injury, neoplasm, digestive diseases, and maternal and neonatal disorders from two distinct economic perspectives. We obtained mortality rate estimates for each disease for the years 2000 and 2010 from the Institute of Health Metrics and Evaluation Global Burden of Disease 2010 study, and estimates of the proportion of the burden of the selected diseases that is surgical from a paper by Shrime and colleagues. We first used the value of lost output (VLO) approach, based on the WHO's Projecting the Economic Cost of Ill-Health (EPIC) model, to project annual market economy losses due to these surgical diseases during 2015-30. EPIC attempts to model how disease affects a country's projected labour force and capital stock, which in turn are related to losses in economic output, or gross domestic product (GDP). We then used the value of lost welfare (VLW) approach, which is conceptually based on the value of a statistical life and is inclusive of non-market losses, to estimate the present value of long-run welfare losses resulting from mortality and short-run welfare losses resulting from morbidity incurred during 2010. Sensitivity analyses were performed for both approaches. During 2015-30, the VLO approach projected that surgical conditions would result in losses of 1·25% of potential GDP, or $20·7 trillion (2010 US$, purchasing power parity) in the 128 countries with data available. When expressed as a proportion of potential GDP, annual GDP losses were greatest in low-income and middle-income countries, with up to a 2·5% loss in output by 2030. When total welfare losses are assessed (VLW), the present value of economic losses is estimated to be equivalent to 17% of 2010 GDP, or $14·5 trillion in the 175 countries assessed with this approach. Neoplasm and injury account

  13. The physical and mathematical model of dynamic economic analysis and assessment for NPP

    International Nuclear Information System (INIS)

    Xu Jiming

    1992-01-01

    A set physical and mathematical model of dynamic economic analysis referring to international general sub-item and account of investment and constant money levelized model and combining current economic analysis method in China for nuclear power plant was established. The model can be used in economic analysis not only for nuclear power plant but also for coal-fired power plant and can satisfy demand of doing economic analysis and assessment for nuclear power plant and conventional power plant

  14. Agricultural climate impacts assessment for economic modeling and decision support

    Science.gov (United States)

    Thomson, A. M.; Izaurralde, R. C.; Beach, R.; Zhang, X.; Zhao, K.; Monier, E.

    2013-12-01

    A range of approaches can be used in the application of climate change projections to agricultural impacts assessment. Climate projections can be used directly to drive crop models, which in turn can be used to provide inputs for agricultural economic or integrated assessment models. These model applications, and the transfer of information between models, must be guided by the state of the science. But the methodology must also account for the specific needs of stakeholders and the intended use of model results beyond pure scientific inquiry, including meeting the requirements of agencies responsible for designing and assessing policies, programs, and regulations. Here we present methodology and results of two climate impacts studies that applied climate model projections from CMIP3 and from the EPA Climate Impacts and Risk Analysis (CIRA) project in a crop model (EPIC - Environmental Policy Indicator Climate) in order to generate estimates of changes in crop productivity for use in an agricultural economic model for the United States (FASOM - Forest and Agricultural Sector Optimization Model). The FASOM model is a forward-looking dynamic model of the US forest and agricultural sector used to assess market responses to changing productivity of alternative land uses. The first study, focused on climate change impacts on the UDSA crop insurance program, was designed to use available daily climate projections from the CMIP3 archive. The decision to focus on daily data for this application limited the climate model and time period selection significantly; however for the intended purpose of assessing impacts on crop insurance payments, consideration of extreme event frequency was critical for assessing periodic crop failures. In a second, coordinated impacts study designed to assess the relative difference in climate impacts under a no-mitigation policy and different future climate mitigation scenarios, the stakeholder specifically requested an assessment of a

  15. Anticipating the uncertain: economic modeling and climate change policy

    Energy Technology Data Exchange (ETDEWEB)

    Jensen, Svenn

    2012-11-01

    With this thesis I wish to contribute to the understanding of how uncertainty and the anticipation of future events by economic actors affect climate policies. The thesis consists of four papers. Two papers are analytical models which explicitly consider that emissions are caused by extracting scarce fossil fuels which in the future must be replaced by clean technologies. The other two are so called numerical integrated assessment models. Such models represent the world economy, the climate system and the interactions between those two quantitatively, complementing more abstract theoretical work. Should policy makers discriminate between subsidizing renewable energy sources such as wind or solar power, and technologies such as carbon capture and storage (CCS)? Focusing only on the dynamic supply of fossil fuels and hence Co{sub 2}, we find here that cheaper future renewables cause extraction to speed up, lower costs of CCS may delay it. CCS hence may dampen the dynamic inefficiency caused by the absence of comprehensive climate policies today. Does it matter whether uncertainty about future damage assessment is due to scientific complexities or stems from the political process? In paper two, I find that political and scientific uncertainties have opposing effects on the incentives to investment in renewables and the extraction of fossil fuels: The prospect of scientific learning about the climate system increases investment incentives and, ceteris paribus, slows extraction down; uncertainty about future political constellations does the opposite. The optimal carbon tax under scientific uncertainty equals expected marginal damages, whereas political uncertainty demands a tax below marginal damages that decreases over time. Does uncertainty about economic growth impact optimal climate policy today? Here we are the first to consistently analyze how uncertainty about future economic growth affects optimal emission reductions and the optimal social cost of carbon. We

  16. xSyn: A Software Tool for Identifying Sophisticated 3-Way Interactions From Cancer Expression Data

    Directory of Open Access Journals (Sweden)

    Baishali Bandyopadhyay

    2017-08-01

    Full Text Available Background: Constructing gene co-expression networks from cancer expression data is important for investigating the genetic mechanisms underlying cancer. However, correlation coefficients or linear regression models are not able to model sophisticated relationships among gene expression profiles. Here, we address the 3-way interaction that 2 genes’ expression levels are clustered in different space locations under the control of a third gene’s expression levels. Results: We present xSyn, a software tool for identifying such 3-way interactions from cancer gene expression data based on an optimization procedure involving the usage of UPGMA (Unweighted Pair Group Method with Arithmetic Mean and synergy. The effectiveness is demonstrated by application to 2 real gene expression data sets. Conclusions: xSyn is a useful tool for decoding the complex relationships among gene expression profiles. xSyn is available at http://www.bdxconsult.com/xSyn.html .

  17. Pollution and economic growth in a model of overlapping generations

    Energy Technology Data Exchange (ETDEWEB)

    Fisher, Eric O`N. [Department of Economics, The Ohio State University, Columbus, OH (United States); Van Marrewijk, Charles [Department of Economics, Erasmus University, Rotterdam (Netherlands)

    1994-01-22

    We analyze a model of overlapping generations in which clean air, a pure public consumption good, is used as a private input into production. Although production exhibits constant returns to scale, endogenous growth can occur because the economy has tWO sectors. In a laissez-faire equilibrium, there is no market for pollution rights, and firms appropriate clean air in an arbitrary manner. Growth occurs only if the marginal propensity to save is high enough and the asymptotic share of pollution in the investment sector is zero. Firms generate quasi-rents that are the value of pollution rights. These quasi-rents crowd out investment and slow economic growth. A laissez- faire equilibrium may not support Pareto optimal allocations, but a Pigouvian tax with lump-sum distribution of the resulting revenues does. Hence, a pollution lax yields a double dividend because it can increase both the static efficiency of the economy and its growth rate. 1 fig., 20 refs.

  18. Pollution and economic growth in a model of overlapping generations

    International Nuclear Information System (INIS)

    Fisher, Eric O'N.; Van Marrewijk, Charles

    1994-01-01

    We analyze a model of overlapping generations in which clean air, a pure public consumption good, is used as a private input into production. Although production exhibits constant returns to scale, endogenous growth can occur because the economy has tWO sectors. In a laissez-faire equilibrium, there is no market for pollution rights, and firms appropriate clean air in an arbitrary manner. Growth occurs only if the marginal propensity to save is high enough and the asymptotic share of pollution in the investment sector is zero. Firms generate quasi-rents that are the value of pollution rights. These quasi-rents crowd out investment and slow economic growth. A laissez- faire equilibrium may not support Pareto optimal allocations, but a Pigouvian tax with lump-sum distribution of the resulting revenues does. Hence, a pollution lax yields a double dividend because it can increase both the static efficiency of the economy and its growth rate. 1 fig., 20 refs

  19. Modelling Technical and Economic Parameters in Selection of Manufacturing Devices

    Directory of Open Access Journals (Sweden)

    Naqib Daneshjo

    2017-11-01

    Full Text Available Sustainable science and technology development is also conditioned by continuous development of means of production which have a key role in structure of each production system. Mechanical nature of the means of production is complemented by controlling and electronic devices in context of intelligent industry. A selection of production machines for a technological process or technological project has so far been practically resolved, often only intuitively. With regard to increasing intelligence, the number of variable parameters that have to be considered when choosing a production device is also increasing. It is necessary to use computing techniques and decision making methods according to heuristic methods and more precise methodological procedures during the selection. The authors present an innovative model for optimization of technical and economic parameters in the selection of manufacturing devices for industry 4.0.

  20. Economical analysis based on a simplified model of micro distillery

    International Nuclear Information System (INIS)

    Bristoti, A.; Adams, R.

    1987-01-01

    The investment costs of the hydrate alcohol distillery as well as the energy balance of its production made inviable its diffusion on a small scale. The present economical analysis is based on a simplified model of micro distillery where the reduction on investment costs in based on technical data based on the possibility of the utilization of an hydrate alcohol with a higher water constant than the usual, i. e. around 85 0 GL. The engineering project of this plant eliminates all pumps, all the liquids (water, sugar cane, syrup and wine) are fed by gravity. The bagasse is considered a noble by-product and it is utilized in poultry industry as a substitute of wood dust. All the heat needs of the micro distillery are supplied by wood. (author)

  1. Using hydro-economic modelling to investigate trade-offs between ecological and economic water management objectives

    DEFF Research Database (Denmark)

    Riegels, Niels

    is that land and water use levels predicted by the two approaches are essentially the same. The prediction that high-value irrigated crops will not replace low-value crops is not unreasonable given behavior observed in the baseline data set and highlights the limitations of using economic models calibrated......In regions where water scarcity exists, economic analysis can help identify ways to increase benefits of water use. The European Union’s Water Framework Directive (WFD), is an example of a law that requires the use of economic principles, approaches, and instruments in water resources management....... One of these instruments is water pricing. This study develops an approach for implementing the water pricing guidelines of the WFD at the river basin scale and then uses hydro-economic modelling to estimate the impacts of applying these guidelines. The central purpose of the WFD is the protection...

  2. A spatial-dynamic value transfer model of economic losses from a biological invasion

    Science.gov (United States)

    Thomas P. Holmes; Andrew M. Liebhold; Kent F. Kovacs; Betsy. Von Holle

    2010-01-01

    Rigorous assessments of the economic impacts of introduced species at broad spatial scales are required to provide credible information to policy makers. We propose that economic models of aggregate damages induced by biological invasions need to link microeconomic analyses of site-specific economic damages with spatial-dynamic models of value change associated with...

  3. Economic Crisis and Marital Problems in Turkey: Testing the Family Stress Model

    Science.gov (United States)

    Aytac, Isik A.; Rankin, Bruce H.

    2009-01-01

    This paper applied the family stress model to the case of Turkey in the wake of the 2001 economic crisis. Using structural equation modeling and a nationally representative urban sample of 711 married women and 490 married men, we tested whether economic hardship and the associated family economic strain on families resulted in greater marital…

  4. Bio-economic modeling of water quality improvements using a dynamic applied general equilibrium approach

    NARCIS (Netherlands)

    Dellink, R.; Brouwer, R.; Linderhof, V.G.M.; Stone, K.

    2011-01-01

    An integrated bio-economic model is developed to assess the impacts of pollution reduction policies on water quality and the economy. Emission levels of economic activities to water are determined based on existing environmental accounts. These emission levels are built into a dynamic economic model

  5. A microbial model of economic trading and comparative advantage.

    Science.gov (United States)

    Enyeart, Peter J; Simpson, Zachary B; Ellington, Andrew D

    2015-01-07

    The economic theory of comparative advantage postulates that beneficial trading relationships can be arrived at by two self-interested entities producing the same goods as long as they have opposing relative efficiencies in producing those goods. The theory predicts that upon entering trade, in order to maximize consumption both entities will specialize in producing the good they can produce at higher efficiency, that the weaker entity will specialize more completely than the stronger entity, and that both will be able to consume more goods as a result of trade than either would be able to alone. We extend this theory to the realm of unicellular organisms by developing mathematical models of genetic circuits that allow trading of a common good (specifically, signaling molecules) required for growth in bacteria in order to demonstrate comparative advantage interactions. In Conception 1, the experimenter controls production rates via exogenous inducers, allowing exploration of the parameter space of specialization. In Conception 2, the circuits self-regulate via feedback mechanisms. Our models indicate that these genetic circuits can demonstrate comparative advantage, and that cooperation in such a manner is particularly favored under stringent external conditions and when the cost of production is not overly high. Further work could involve implementing the models in living bacteria and searching for naturally occurring cooperative relationships between bacteria that conform to the principles of comparative advantage. Copyright © 2014 The Authors. Published by Elsevier Ltd.. All rights reserved.

  6. Solving the Sophistication-Population Paradox of Game Refinement Theory

    OpenAIRE

    Xiong , Shuo; Tiwary , Parth ,; Iida , Hiroyuki

    2016-01-01

    Part 4: Short Papers; International audience; A mathematical model of game refinement was proposed based on uncertainty of game outcome. This model has been shown to be useful in measuring the entertainment element in the domains such as boardgames and sport games. However, game refinement theory has not been able to explain the correlation between the popularity of a game and the game refinement value. This paper introduces another aspect in the study of game entertainment, the concept of “a...

  7. Sophistication of burnup analysis system for fast reactor

    International Nuclear Information System (INIS)

    Yokoyama, Kenji; Hirai, Yasushi; Hyoudou, Hideaki; Tatsumi, Masahiro

    2010-02-01

    Improvement on prediction accuracy for neutronics property of fast reactor cores is one of the most important study domains in terms of both achievement of high economical plant efficiency based on reasonably advanced designs and increased reliability and safety margins. In former study, considerable improvement on prediction accuracy in neutronics design has been achieved in the development of the unified constants library as a fruit of a series of critical experiments such as JUPITER in application of the reactor constant adjustments. For design of fast reactor cores, however, improvement of not only static properties but also burnup properties is very important. For such purpose, it is necessary to improve the prediction accuracy on burnup properties using actual burnup data of 'JOYO' and 'MONJU', experimental and prototype fast reactors. Recently, study on effective burnup method for minor actinides becomes important theme. However, there is a problem that analysis work tends to become inefficient for lack of functionality suitable for analysis of composition change due to burnup since the conventional analysis system is targeted to critical assembly systems. Therefore development of burnup analysis system for fast reactors with modularity and flexibility is being done that would contribute to actual core design work and improvement of prediction accuracy. In the previous research, we have developed a prototype system which has functions of performing core and burnup calculations using given constant files (PDS files) and information based on simple and easy user input data. It has also functions of fuel shuffling which is indispensable for production systems. In the present study, we implemented functions for cell calculations and burnup calculations. With this, whole steps in analysis can be carried out with only this system. In addition, we modified the specification of user input to improve the convenience of this system. Since implementations being done so

  8. Modelling the economic impacts of addressing climate change

    International Nuclear Information System (INIS)

    2002-01-01

    This Power Point report presents highlights of the latest economic modelling of Canada's Kyoto commitment to address climate change. It presents framework assumptions and a snapshot under 4 scenarios. The objective of this report is to evaluate the national, sectoral, provincial and territorial impacts of the federal reference case policy package in which the emissions reduction target is 170 Mt from a business-as-usual scenario. The reference case policy package also includes 30 Mt of sinks from current packages of which 20 Mt are derived from the forestry sector and the remainder from agricultural sector. The report examined 4 scenarios based on 2 international carbon prices ($10 and $50) per tonne of carbon dioxide in 2010. The scenarios were also based on the fiscal assumptions that climate change initiatives and revenue losses would directly affect the governments' balances, or that the government balances are maintained by increasing personal income tax. A comparison of impacts under each of the 4 scenarios to 2010 was presented. The model presents impacts on GDP, employment, disposable income per household, and energy prices. 4 tabs., 4 figs

  9. Economic perspective of marine reserves in fisheries: a bioeconomic model.

    Science.gov (United States)

    Chakraborty, Kunal; Kar, T K

    2012-12-01

    The present paper describes a prey-predator type fishery model with prey dispersal in a two-patch environment, one of which is a free fishing zone and other is protected zone. The objective of the paper is to maximize the net economic revenue earn from the fishery through implementing the sustainable properties of the fishery to keep the ecological balance. Biological measures are introduced to increase the understanding of the mechanisms in the bioeconomic system. The importance of marine reserve is analyzed through the obtained results of the numerical simulations of proposed model system. The results depict that reserves will be most effective when coupled with harvesting controls in adjacent fisheries. The paper also incorporates the induced cost and premium from establishing a marine protected area in a fishery. It is found that premium of marine protected area (MPA) increases with the increasing size of the reserve. Results are analyzed with the help of graphical illustrations. Copyright © 2012 Elsevier Inc. All rights reserved.

  10. Public sector administration of ecological economics systems using mediated modeling.

    Science.gov (United States)

    van den Belt, Marjan; Kenyan, Jennifer R; Krueger, Elizabeth; Maynard, Alison; Roy, Matthew Galen; Raphael, Ian

    2010-01-01

    In today's climate of government outsourcing and multiple stakeholder involvement in public sector management and service delivery, it is more important than ever to rethink and redesign the structure of how policy decisions are made, implemented, monitored, and adapted to new realities. The traditional command-and-control approach is now less effective because an increasing amount of responsibility to deliver public goods and services falls on networks of nongovernment agencies. Even though public administrators are seeking new decision-making models in an increasingly more complex environment, the public sector currently only sparsely utilizes Mediated Modeling (MM). There is growing evidence, however, that by employing MM and similar tools, public interest networks can be better equipped to deal with their long-term viability while maintaining the short-term needs of their clients. However, it may require a shift in organizational culture within and between organizations to achieve the desired results. This paper explores the successes and barriers to implementing MM and similar tools in the public sector and offers insights into utilizing them through a review of case studies and interdisciplinary literature. We aim to raise a broader interest in MM and similar tools among public sector administrators at various administrative levels. We focus primarily, but not exclusively, on those cases operating at the interface of ecology and socio-economic systems.

  11. Sophistication of burnup analysis system for fast reactor (2)

    International Nuclear Information System (INIS)

    Yokoyama, Kenji; Hirai, Yasushi; Tatsumi, Masahiro

    2010-10-01

    Improvement on prediction accuracy for neutronics characteristics of fast reactor cores is one of the most important study domains in terms of both achievement of high economical plant efficiency based on reasonably advanced designs and increased reliability and safety margins. In former study, considerable improvement on prediction accuracy in neutronics design has been achieved in the development of the unified cross-section set as a fruit of a series of critical experiments such as JUPITER in application of the reactor constant adjustments. For design of fast reactor cores improvement of not only static characteristics but also burnup characteristics is very important. For such purpose, it is necessary to improve the prediction accuracy on burnup characteristics using actual burnup data of 'JOYO' and 'MONJU', experimental and prototype fast reactors. Recently, study on effective burnup method for minor actinides becomes important theme. However, there is a problem that analysis work tends to become inefficient for lack of functionality suitable for analysis of composition change due to burnup since the conventional analysis system is targeted to critical assembly systems. Therefore development of burnup analysis system for fast reactors with modularity and flexibility is being done that would contribute to actual core design work and improvement of prediction accuracy. In the previous study, we have developed a prototype system which has functions of performing core and burnup calculations using given constant files (PDS files) and information based on simple and easy user input data. It has also functions of fuel shuffling which is indispensable for power reactor analysis systems. In the present study, by extending the prototype system, features for handling of control rods and energy collapse of group constants have been designed and implemented. Computational results from the present analysis system are stored into restart files which can be accessible by

  12. Sustainability and economics: The Adirondack Park experience, a forest economic-ecological model, and solar energy policy

    Science.gov (United States)

    Erickson, Jon David

    The long-term sustainability of human communities will depend on our relationship with regional environments, our maintenance of renewable resources, and our successful disengagement from nonrenewable energy dependence. This dissertation investigates sustainability at these three levels, following a critical analysis of sustainability and economics. At the regional environment level, the Adirondack Park of New York State is analyzed as a potential model of sustainable development. A set of initial and ongoing conditions are presented that both emerge from and support a model of sustainability in the Adirondacks. From these conditions, a clearer picture emerges of the definition of regional sustainability, consequences of its adoption, and lessons from its application. Next, an economic-ecological model of the northern hardwood forest ecosystem is developed. The model integrates economic theory and intertemporal ecological concepts, linking current harvest decisions with future forest growth, financial value, and ecosystem stability. The results indicate very different economic and ecological outcomes by varying opportunity cost and ecosystem recovery assumptions, and suggest a positive benefit to ecological recovery in the forest rotation decision of the profit maximizing manager. The last section investigates the motives, economics, and international development implications of renewable energy (specifically photovoltaic technology) in rural electrification and technology transfer, drawing on research in the Dominican Republic. The implications of subsidizing a photovoltaic market versus investing in basic research are explored.

  13. Current challenges in health economic modeling of cancer therapies: a research inquiry.

    Science.gov (United States)

    Miller, Jeffrey D; Foley, Kathleen A; Russell, Mason W

    2014-05-01

    The demand for economic models that evaluate cancer treatments is increasing, as healthcare decision makers struggle for ways to manage their budgets while providing the best care possible to patients with cancer. Yet, after nearly 2 decades of cultivating and refining techniques for modeling the cost-effectiveness and budget impact of cancer therapies, serious methodologic and policy challenges have emerged that question the adequacy of economic modeling as a sound decision-making tool in oncology. We sought to explore some of the contentious issues associated with the development and use of oncology economic models as informative tools in current healthcare decision-making. Our objective was to draw attention to these complex pharmacoeconomic concerns and to promote discussion within the oncology and health economics research communities. Using our combined expertise in health economics research and economic modeling, we structured our inquiry around the following 4 questions: (1) Are economic models adequately addressing questions relevant to oncology decision makers; (2) What are the methodologic limitations of oncology economic models; (3) What guidelines are followed for developing oncology economic models; and (4) Is the evolution of oncology economic modeling keeping pace with treatment innovation? Within the context of each of these questions, we discuss issues related to the technical limitations of oncology modeling, the availability of adequate data for developing models, and the problems with how modeling analyses and results are presented and interpreted. There is general acceptance that economic models are good, essential tools for decision-making, but the practice of oncology and its rapidly evolving technologies present unique challenges that make assessing and demonstrating value especially complex. There is wide latitude for improvement in oncology modeling methodologies and how model results are presented and interpreted. Complex technical and

  14. RSYST: From nuclear reactor calculations towards a highly sophisticated scientific software integration environment

    International Nuclear Information System (INIS)

    Noack, M.; Seybold, J.; Ruehle, R.

    1996-01-01

    The software environment RSYST was originally used to solve problems of reactor physics. The consideration of advanced scientific simulation requirements and the strict application of modern software design principles led to a system which is perfectly suitable to solve problems in various complex scientific problem domains. Starting with a review of the early days of RSYST, we describe the straight evolution driven by the need of software environment which combines the advantages of a high-performance database system with the capability to integrate sophisticated scientific technical applications. The RSYST architecture is presented and the data modelling capabilities are described. To demonstrate the powerful possibilities and flexibility of the RSYST environment, we describe a wide range of RSYST applications, e.g., mechanical simulations of multibody systems, which are used in biomechanical research, civil engineering and robotics. In addition, a hypermedia system which is used for scientific technical training and documentation is presented. (orig.) [de

  15. Sophisticated visualization algorithms for analysis of multidimensional experimental nuclear spectra

    International Nuclear Information System (INIS)

    Morhac, M.; Kliman, J.; Matousek, V.; Turzo, I.

    2004-01-01

    This paper describes graphical models of visualization of 2-, 3-, 4-dimensional scalar data used in nuclear data acquisition, processing and visualization system developed at the Institute of Physics, Slovak Academy of Sciences. It focuses on presentation of nuclear spectra (histograms). However it can be successfully applied for visualization of arrays of other data types. In the paper we present conventional as well as new developed surface and volume rendering visualization techniques used (Authors)

  16. More Sophisticated Fits of the Oribts of Haumea's Interacting Moons

    Science.gov (United States)

    Oldroyd, William Jared; Ragozzine, Darin; Porter, Simon

    2018-04-01

    Since the discovery of Haumea's moons, it has been a challenge to model the orbits of its moons, Hi’iaka and Namaka. With many precision HST observations, Ragozzine & Brown 2009 succeeded in calculating a three-point mass model which was essential because Keplerian orbits were not a statistically acceptable fit. New data obtained in 2010 could be fit by adding a J2 and spin pole to Haumea, but new data from 2015 was far from the predicted locations, even after an extensive exploration using Bayesian Markov Chain Monte Carlo methods (using emcee). Here we report on continued investigations as to why our model cannot fit the full 10-year baseline of data. We note that by ignoring Haumea and instead examining the relative motion of the two moons in the Hi’iaka centered frame leads to adequate fits for the data. This suggests there are additional parameters connected to Haumea that will be required in a full model. These parameters are potentially related to photocenter-barycenter shifts which could be significant enough to affect the fitting process; these are unlikely to be caused by the newly discovered ring (Ortiz et al. 2017) or by unknown satellites (Burkhart et al. 2016). Additionally, we have developed a new SPIN+N-bodY integrator called SPINNY that self-consistently calculates the interactions between n-quadrupoles and is designed to test the importance of other possible effects (Haumea C22, satellite torques on the spin-pole, Sun, etc.) on our astrometric fits. By correctly determining the orbit of Haumea’s satellites we develop a better understanding of the physical properties of each of the objects with implications for the formation of Haumea, its moons, and its collisional family.

  17. Simple Plans or Sophisticated Habits? State, Transition and Learning Interactions in the Two-Step Task.

    Science.gov (United States)

    Akam, Thomas; Costa, Rui; Dayan, Peter

    2015-12-01

    The recently developed 'two-step' behavioural task promises to differentiate model-based from model-free reinforcement learning, while generating neurophysiologically-friendly decision datasets with parametric variation of decision variables. These desirable features have prompted its widespread adoption. Here, we analyse the interactions between a range of different strategies and the structure of transitions and outcomes in order to examine constraints on what can be learned from behavioural performance. The task involves a trade-off between the need for stochasticity, to allow strategies to be discriminated, and a need for determinism, so that it is worth subjects' investment of effort to exploit the contingencies optimally. We show through simulation that under certain conditions model-free strategies can masquerade as being model-based. We first show that seemingly innocuous modifications to the task structure can induce correlations between action values at the start of the trial and the subsequent trial events in such a way that analysis based on comparing successive trials can lead to erroneous conclusions. We confirm the power of a suggested correction to the analysis that can alleviate this problem. We then consider model-free reinforcement learning strategies that exploit correlations between where rewards are obtained and which actions have high expected value. These generate behaviour that appears model-based under these, and also more sophisticated, analyses. Exploiting the full potential of the two-step task as a tool for behavioural neuroscience requires an understanding of these issues.

  18. Simple Plans or Sophisticated Habits? State, Transition and Learning Interactions in the Two-Step Task

    Science.gov (United States)

    Akam, Thomas; Costa, Rui; Dayan, Peter

    2015-01-01

    The recently developed ‘two-step’ behavioural task promises to differentiate model-based from model-free reinforcement learning, while generating neurophysiologically-friendly decision datasets with parametric variation of decision variables. These desirable features have prompted its widespread adoption. Here, we analyse the interactions between a range of different strategies and the structure of transitions and outcomes in order to examine constraints on what can be learned from behavioural performance. The task involves a trade-off between the need for stochasticity, to allow strategies to be discriminated, and a need for determinism, so that it is worth subjects’ investment of effort to exploit the contingencies optimally. We show through simulation that under certain conditions model-free strategies can masquerade as being model-based. We first show that seemingly innocuous modifications to the task structure can induce correlations between action values at the start of the trial and the subsequent trial events in such a way that analysis based on comparing successive trials can lead to erroneous conclusions. We confirm the power of a suggested correction to the analysis that can alleviate this problem. We then consider model-free reinforcement learning strategies that exploit correlations between where rewards are obtained and which actions have high expected value. These generate behaviour that appears model-based under these, and also more sophisticated, analyses. Exploiting the full potential of the two-step task as a tool for behavioural neuroscience requires an understanding of these issues. PMID:26657806

  19. Simple Plans or Sophisticated Habits? State, Transition and Learning Interactions in the Two-Step Task.

    Directory of Open Access Journals (Sweden)

    Thomas Akam

    2015-12-01

    Full Text Available The recently developed 'two-step' behavioural task promises to differentiate model-based from model-free reinforcement learning, while generating neurophysiologically-friendly decision datasets with parametric variation of decision variables. These desirable features have prompted its widespread adoption. Here, we analyse the interactions between a range of different strategies and the structure of transitions and outcomes in order to examine constraints on what can be learned from behavioural performance. The task involves a trade-off between the need for stochasticity, to allow strategies to be discriminated, and a need for determinism, so that it is worth subjects' investment of effort to exploit the contingencies optimally. We show through simulation that under certain conditions model-free strategies can masquerade as being model-based. We first show that seemingly innocuous modifications to the task structure can induce correlations between action values at the start of the trial and the subsequent trial events in such a way that analysis based on comparing successive trials can lead to erroneous conclusions. We confirm the power of a suggested correction to the analysis that can alleviate this problem. We then consider model-free reinforcement learning strategies that exploit correlations between where rewards are obtained and which actions have high expected value. These generate behaviour that appears model-based under these, and also more sophisticated, analyses. Exploiting the full potential of the two-step task as a tool for behavioural neuroscience requires an understanding of these issues.

  20. Modeling the Development of Vocational Competence: A Psychometric Model for Economic Domains

    Science.gov (United States)

    Klotz, Viola Katharina; Winther, Esther; Festner, Dagmar

    2015-01-01

    This article discusses the development of vocational competence through economic vocational educational training (VET) from a theoretical and psychometric perspective. Most assessment and competence models tend to adopt a state perspective toward assessments of competence and carve out different structures of competence for diverse vocational…

  1. Lexical Sophistication as a Multidimensional Phenomenon: Relations to Second Language Lexical Proficiency, Development, and Writing Quality

    Science.gov (United States)

    Kim, Minkyung; Crossley, Scott A.; Kyle, Kristopher

    2018-01-01

    This study conceptualizes lexical sophistication as a multidimensional phenomenon by reducing numerous lexical features of lexical sophistication into 12 aggregated components (i.e., dimensions) via a principal component analysis approach. These components were then used to predict second language (L2) writing proficiency levels, holistic lexical…

  2. Isocratean Discourse Theory and Neo-Sophistic Pedagogy: Implications for the Composition Classroom.

    Science.gov (United States)

    Blair, Kristine L.

    With the recent interest in the fifth century B.C. theories of Protagoras and Gorgias come assumptions about the philosophical affinity of the Greek educator Isocrates to this pair of older sophists. Isocratean education in discourse, with its emphasis on collaborative political discourse, falls within recent definitions of a sophist curriculum.…

  3. Aristotle and Social-Epistemic Rhetoric: The Systematizing of the Sophistic Legacy.

    Science.gov (United States)

    Allen, James E.

    While Aristotle's philosophical views are more foundational than those of many of the Older Sophists, Aristotle's rhetorical theories inherit and incorporate many of the central tenets ascribed to Sophistic rhetoric, albeit in a more systematic fashion, as represented in the "Rhetoric." However, Aristotle was more than just a rhetorical…

  4. Studying Economic Space: Synthesis of Balance and Game-Theoretic Methods of Modelling

    Directory of Open Access Journals (Sweden)

    Natalia Gennadyevna Zakharchenko

    2015-12-01

    Full Text Available The article introduces questions about development of models used to study economic space. The author proposes the model that combines balance and game-theoretic methods for estimating system effects of economic agents’ interactions in multi-level economic space. The model is applied to research interactions between economic agents that are spatially heterogeneous within the Russian Far East. In the model the economic space of region is considered in a territorial dimension (the first level of decomposing space and also in territorial and product dimensions (the second level of decomposing space. The paper shows the mechanism of system effects formation that exists in the economic space of region. The author estimates system effects, analyses the real allocation of these effects between economic agents and identifies three types of local industrial markets: with zero, positive and negative system effects

  5. A Simple Model of Entrepreneurship for Principles of Economics Courses

    Science.gov (United States)

    Gunter, Frank R.

    2012-01-01

    The critical roles of entrepreneurs in creating, operating, and destroying markets, as well as their importance in driving long-term economic growth are still generally either absent from principles of economics texts or relegated to later chapters. The primary difficulties in explaining entrepreneurship at the principles level are the lack of a…

  6. A Survey of Economic Models of Criminal Behavior

    Science.gov (United States)

    1987-10-01

    Economic Research, 1-54. Bentham , Jeremy (1931). Theory of Legislation. New York: Harcourt Brace. Block, Michael K. and J. M. Heineke (1975). A Labor...criminology in the eighteenth and nineteenth centuries, Beccaria and Bentham , explicitly applied an economic framework. Becker sees his work as re

  7. A Panel Threshold Model of Tourism Specialization and Economic Development

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); T. Khamkaew (Tanchanok); M.J. McAleer (Michael)

    2009-01-01

    textabstractThe significant impact of international tourism in stimulating economic growth is especially important from a policy perspective. For this reason, the relationship between international tourism and economic growth would seem to be an interesting empirical issue. In particular, if there

  8. Economic analysis of open space box model utilization in spacecraft

    Science.gov (United States)

    Mohammad, Atif F.; Straub, Jeremy

    2015-05-01

    It is a known fact that the amount of data about space that is stored is getting larger on an everyday basis. However, the utilization of Big Data and related tools to perform ETL (Extract, Transform and Load) applications will soon be pervasive in the space sciences. We have entered in a crucial time where using Big Data can be the difference (for terrestrial applications) between organizations underperforming and outperforming their peers. The same is true for NASA and other space agencies, as well as for individual missions and the highly-competitive process of mission data analysis and publication. In most industries, conventional opponents and new candidates alike will influence data-driven approaches to revolutionize and capture the value of Big Data archives. The Open Space Box Model is poised to take the proverbial "giant leap", as it provides autonomic data processing and communications for spacecraft. We can find economic value generated from such use of data processing in our earthly organizations in every sector, such as healthcare, retail. We also can easily find retailers, performing research on Big Data, by utilizing sensors driven embedded data in products within their stores and warehouses to determine how these products are actually used in the real world.

  9. A BEHAVIORAL ECONOMIC MODEL OF ALCOHOL ADVERTISING AND PRICE

    Science.gov (United States)

    SAFFER, HENRY; DAVE, DHAVAL; GROSSMAN, MICHAEL

    2016-01-01

    SUMMARY This paper presents a new empirical study of the effects of televised alcohol advertising and alcohol price on alcohol consumption. A novel feature of this study is that the empirical work is guided by insights from behavioral economic theory. Unlike the theory used in most prior studies, this theory predicts that restriction on alcohol advertising on TV would be more effective in reducing consumption for individuals with high consumption levels but less effective for individuals with low consumption levels. The estimation work employs data from the National Longitudinal Survey of Youth, and the empirical model is estimated with quantile regressions. The results show that advertising has a small positive effect on consumption and that this effect is relatively larger at high consumption levels. The continuing importance of alcohol taxes is also supported. Education is employed as a proxy for self-regulation, and the results are consistent with this assumption. The key conclusion is that restrictions on alcohol advertising on TV would have a small negative effect on drinking, and this effect would be larger for heavy drinkers. PMID:25919364

  10. Risk-trading in flood management: An economic model.

    Science.gov (United States)

    Chang, Chiung Ting

    2017-09-15

    Although flood management is no longer exclusively a topic of engineering, flood mitigation continues to be associated with hard engineering options. Flood adaptation or the capacity to adapt to flood risk, as well as a demand for internalizing externalities caused by flood risk between regions, complicate flood management activities. Even though integrated river basin management has long been recommended to resolve the above issues, it has proven difficult to apply widely, and sometimes even to bring into existence. This article explores how internalization of externalities as well as the realization of integrated river basin management can be encouraged via the use of a market-based approach, namely a flood risk trading program. In addition to maintaining efficiency of optimal resource allocation, a flood risk trading program may also provide a more equitable distribution of benefits by facilitating decentralization. This article employs a graphical analysis to show how flood risk trading can be implemented to encourage mitigation measures that increase infiltration and storage capacity. A theoretical model is presented to demonstrate the economic conditions necessary for flood risk trading. Copyright © 2017 Elsevier Ltd. All rights reserved.

  11. Modeling the economics and market adoption of distributed power generation

    International Nuclear Information System (INIS)

    Maribu, Karl Magnus

    2006-01-01

    After decades of power generating units increasing in size, there is currently a growing focus on distributed generation, power generation close to energy loads. Investments in large-scale units have been driven by economy of scale, but recent technological improvements on small generating plants have made it possible to exploit the benefits of local power generation to a larger extent than previously. Distributed generation can improve power system efficiency because heat can be recovered from thermal units to supply heat and thermally activated cooling, and because small-scale renewables have a promising end-user market. Further benefits of distributed generation include improved reliability, deferral of often controversial and costly grid investments and reduction of grid losses. The new appeal of small-scale power generation means that there is a need for new tools to analyze distributed generation, both from a system perspective and from the perspective of potential developers. In this thesis, the focus is on the value of power generation for end-users. The thesis identifies how an end-user can find optimal distributed generation systems and investment strategies under a variety of economic and regulatory scenarios. The final part of the thesis extends the analysis with a bottom up model of how the economics of distributed generation for a representative set of building types can transfer to technology diffusion in a market. Four separate research papers make up the thesis. In the first paper, Optimal Investment Strategies in Decentralized Renewable Power Generation under Uncertainty, a method for evaluation of investments in renewable power units under price uncertainty is presented. It is assumed the developer has a building with an electricity load and a renewable power resource. The case study compares a set of wind power systems with different capacity and finds that capacity depends on the electricity price and that there under uncertain prices can be a

  12. Applicability of genetic algorithms to parameter estimation of economic models

    Directory of Open Access Journals (Sweden)

    Marcel Ševela

    2004-01-01

    Full Text Available The paper concentrates on capability of genetic algorithms for parameter estimation of non-linear economic models. In the paper we test the ability of genetic algorithms to estimate of parameters of demand function for durable goods and simultaneously search for parameters of genetic algorithm that lead to maximum effectiveness of the computation algorithm. The genetic algorithms connect deterministic iterative computation methods with stochastic methods. In the genteic aůgorithm approach each possible solution is represented by one individual, those life and lifes of all generations of individuals run under a few parameter of genetic algorithm. Our simulations resulted in optimal mutation rate of 15% of all bits in chromosomes, optimal elitism rate 20%. We can not set the optimal extend of generation, because it proves positive correlation with effectiveness of genetic algorithm in all range under research, but its impact is degreasing. The used genetic algorithm was sensitive to mutation rate at most, than to extend of generation. The sensitivity to elitism rate is not so strong.

  13. A Behavioral Economic Model of Alcohol Advertising and Price.

    Science.gov (United States)

    Saffer, Henry; Dave, Dhaval; Grossman, Michael

    2016-07-01

    This paper presents a new empirical study of the effects of televised alcohol advertising and alcohol price on alcohol consumption. A novel feature of this study is that the empirical work is guided by insights from behavioral economic theory. Unlike the theory used in most prior studies, this theory predicts that restriction on alcohol advertising on TV would be more effective in reducing consumption for individuals with high consumption levels but less effective for individuals with low consumption levels. The estimation work employs data from the National Longitudinal Survey of Youth, and the empirical model is estimated with quantile regressions. The results show that advertising has a small positive effect on consumption and that this effect is relatively larger at high consumption levels. The continuing importance of alcohol taxes is also supported. Education is employed as a proxy for self-regulation, and the results are consistent with this assumption. The key conclusion is that restrictions on alcohol advertising on TV would have a small negative effect on drinking, and this effect would be larger for heavy drinkers. Copyright © 2015 John Wiley & Sons, Ltd. Copyright © 2015 John Wiley & Sons, Ltd.

  14. Economic Crises and the Complexity of Animal Spirits Modeling

    Directory of Open Access Journals (Sweden)

    Grigore PIROŞCĂ

    2011-02-01

    Full Text Available The rationale of this research goes into the origins of the economic crises from a different way of economic thinking, hence the professional interest on bringing again into the light the concept of animal spirits, used for the first time from classic liberals like David Hume, developed by doctrine founder John Maynard Keynes, and captured as groundbreaking economic crisis hypothesis in Nobel Prize laureates’ books like George Akerlof. A familiar account of the last financial crisis underlines the collapse of confidence and evaporation of trust which leaded to failure of corporate governance and easy money policy. Nor were these problems of recent origin; they were rooted in deep structural changes in the economy that date back many years. Financial innovations overheated the world economy and gained steam because of irrational exuberance over a risk free better future. Considering the evidence analyzed in this paper work, this approach of economic crisis through animal spirits puts forward new highlights of economic thought.

  15. EUROPEAN SOCIAL MODEL.COMPETITIVE ADVANTAGE OR ECONOMIC HANDICAP

    Directory of Open Access Journals (Sweden)

    Iovitu Mariana

    2010-07-01

    Full Text Available “Corporative social responsibility” (CSR represents equally a very actual debate, but also an appraisal criteria of the dynamic of eco-social integration quality process at European level. Especially that the protection need is demanded by the current economic crisis. This concept is meant to combine the position, attitude and behaviour of the trade-unions with the interests of employer’s organisations in search of possible influential mechanisms of the competitive advantage at European level. Due to the current economic crisis, the implications on the labour force market are causing an explainable anxiety. The attention of the decision takers is oriented towards joining the objectives “social well being with economic well being” in view of an expected economic come back. This approach proves a significant change at the level of economic and social policies within the European Union.

  16. Modeling economic growth fuelled by science and technology

    Directory of Open Access Journals (Sweden)

    Leonardo Costa Ribeiro

    2010-06-01

    Full Text Available This paper suggests a simulation model to investigate how science and technology fuel economic growth. This model is built upon a synthesis of technological capabilities represented by national innovation systems. This paper gathers data of papers and patents for 183 countries between 1999 and 2003, as well as GDP and population for 2003. These data show a strong correlation between science, technology and income. Three simulation exercises are performed. Feeding our algorithm with data for population, patents and scientific papers, we obtain the world income distribution. These results support our conjecture on the role of science and technology as sources of the wealth of nations.Este artigo propõe um modelo de simulação para investigar a contribuição da ciência e da tecnologia para o crescimento econômico. O ponto de partida são os sistemas nacionais de inovação, um conceito que sintetiza a capacitação tecnológica das nações. Desta forma, o modelo pode preservar simplicidade e parcimônia. Os dados coletados (patentes, artigos e PIB e população, para 183 países indicam uma forte correlação entre ciência, tecnologia e renda. Três exercícios com simulações são realizados para diversos momentos do tempo, mostrando a progressiva aderência do modelo a essas variáveis tecnológicas.

  17. An Idealized Cognitive Model Analysis of Metaphors in American Economic News Report

    Science.gov (United States)

    Qin, Yang

    2018-03-01

    On the basis of the theoretical framework of Lakoff’s Conceptual Metaphor, the paper researches into the cognitive model of conceptual metaphors in American Economic News Reports. Moreover, the paper tries to analyze economic discourse by the application of Idealized Cognitive Model of its metaphorical thinking combined with cultural model and reflect the ideology of the media. It aims to help English learners ponder the implied meaning the economic news reports conveyed and take a new look at metaphors between the lines.

  18. Forecast Accuracy and Economic Gains from Bayesian Model Averaging using Time Varying Weights

    NARCIS (Netherlands)

    L.F. Hoogerheide (Lennart); R.H. Kleijn (Richard); H.K. van Dijk (Herman); M.J.C.M. Verbeek (Marno)

    2009-01-01

    textabstractSeveral Bayesian model combination schemes, including some novel approaches that simultaneously allow for parameter uncertainty, model uncertainty and robust time varying model weights, are compared in terms of forecast accuracy and economic gains using financial and macroeconomic time

  19. Developing models that analyze the economic/environmental trade-offs implicit in water resource management

    Science.gov (United States)

    Howitt, R. E.

    2016-12-01

    Hydro-economic models have been used to analyze optimal supply management and groundwater use for the past 25 years. They are characterized by an objective function that usually maximizes economic measures such as consumer and producer surplus subject to hydrologic equations of motion or water distribution systems. The hydrologic and economic components are sometimes fully integrated. Alternatively they may use an iterative interactive process. Environmental considerations have been included in hydro-economic models as inequality constraints. Representing environmental requirements as constraints is a rigid approximation of the range of management alternatives that could be used to implement environmental objectives. The next generation of hydro-economic models, currently being developed, require that the environmental alternatives be represented by continuous or semi-continuous functions which relate water resource use allocated to the environment with the probabilities of achieving environmental objectives. These functions will be generated by process models of environmental and biological systems which are now advanced to the state that they can realistically represent environmental systems and flexibility to interact with economic models. Examples are crop growth models, climate modeling, and biological models of forest, fish, and fauna systems. These process models can represent environmental outcomes in a form that is similar to economic production functions. When combined with economic models the interacting process models can reproduce a range of trade-offs between economic and environmental objectives, and thus optimize social value of many water and environmental resources. Some examples of this next-generation of hydro-enviro- economic models are reviewed. In these models implicit production functions for environmental goods are combined with hydrologic equations of motion and economic response functions. We discuss models that show interaction between

  20. A Hydro-Economic Model for Water Level Fluctuations: Combining Limnology with Economics for Sustainable Development of Hydropower

    Science.gov (United States)

    Hirsch, Philipp Emanuel; Schillinger, Sebastian; Weigt, Hannes; Burkhardt-Holm, Patricia

    2014-01-01

    Water level fluctuations in lakes lead to shoreline displacement. The seasonality of flooding or beaching of the littoral area affects nutrient cycling, redox gradients in sediments, and life cycles of aquatic organisms. Despite the ecological importance of water level fluctuations, we still lack a method that assesses water levels in the context of hydropower operations. Water levels in reservoirs are influenced by the operator of a hydropower plant, who discharges water through the turbines or stores water in the reservoir, in a fashion that maximizes profit. This rationale governs the seasonal operation scheme and hence determines the water levels within the boundaries of the reservoir's water balance. For progress towards a sustainable development of hydropower, the benefits of this form of electricity generation have to be weighed against the possible detrimental effects of the anthropogenic water level fluctuations. We developed a hydro-economic model that combines an economic optimization function with hydrological estimators of the water balance of a reservoir. Applying this model allowed us to accurately predict water level fluctuations in a reservoir. The hydro-economic model also allowed for scenario calculation of how water levels change with climate change scenarios and with a change in operating scheme of the reservoir (increase in turbine capacity). Further model development will enable the consideration of a variety of additional parameters, such as water withdrawal for irrigation, drinking water supply, or altered energy policies. This advances our ability to sustainably manage water resources that must meet both economic and environmental demands. PMID:25526619

  1. A hydro-economic model for water level fluctuations: combining limnology with economics for sustainable development of hydropower.

    Directory of Open Access Journals (Sweden)

    Philipp Emanuel Hirsch

    Full Text Available Water level fluctuations in lakes lead to shoreline displacement. The seasonality of flooding or beaching of the littoral area affects nutrient cycling, redox gradients in sediments, and life cycles of aquatic organisms. Despite the ecological importance of water level fluctuations, we still lack a method that assesses water levels in the context of hydropower operations. Water levels in reservoirs are influenced by the operator of a hydropower plant, who discharges water through the turbines or stores water in the reservoir, in a fashion that maximizes profit. This rationale governs the seasonal operation scheme and hence determines the water levels within the boundaries of the reservoir's water balance. For progress towards a sustainable development of hydropower, the benefits of this form of electricity generation have to be weighed against the possible detrimental effects of the anthropogenic water level fluctuations. We developed a hydro-economic model that combines an economic optimization function with hydrological estimators of the water balance of a reservoir. Applying this model allowed us to accurately predict water level fluctuations in a reservoir. The hydro-economic model also allowed for scenario calculation of how water levels change with climate change scenarios and with a change in operating scheme of the reservoir (increase in turbine capacity. Further model development will enable the consideration of a variety of additional parameters, such as water withdrawal for irrigation, drinking water supply, or altered energy policies. This advances our ability to sustainably manage water resources that must meet both economic and environmental demands.

  2. A hydro-economic model for water level fluctuations: combining limnology with economics for sustainable development of hydropower.

    Science.gov (United States)

    Hirsch, Philipp Emanuel; Schillinger, Sebastian; Weigt, Hannes; Burkhardt-Holm, Patricia

    2014-01-01

    Water level fluctuations in lakes lead to shoreline displacement. The seasonality of flooding or beaching of the littoral area affects nutrient cycling, redox gradients in sediments, and life cycles of aquatic organisms. Despite the ecological importance of water level fluctuations, we still lack a method that assesses water levels in the context of hydropower operations. Water levels in reservoirs are influenced by the operator of a hydropower plant, who discharges water through the turbines or stores water in the reservoir, in a fashion that maximizes profit. This rationale governs the seasonal operation scheme and hence determines the water levels within the boundaries of the reservoir's water balance. For progress towards a sustainable development of hydropower, the benefits of this form of electricity generation have to be weighed against the possible detrimental effects of the anthropogenic water level fluctuations. We developed a hydro-economic model that combines an economic optimization function with hydrological estimators of the water balance of a reservoir. Applying this model allowed us to accurately predict water level fluctuations in a reservoir. The hydro-economic model also allowed for scenario calculation of how water levels change with climate change scenarios and with a change in operating scheme of the reservoir (increase in turbine capacity). Further model development will enable the consideration of a variety of additional parameters, such as water withdrawal for irrigation, drinking water supply, or altered energy policies. This advances our ability to sustainably manage water resources that must meet both economic and environmental demands.

  3. A Study on the development of macro environmental economic model(I)

    Energy Technology Data Exchange (ETDEWEB)

    Chung, Young Keun; Han, Min Jung [Korea Environment Institute, Seoul (Korea)

    1998-12-01

    This study is the first year study of the two year research project for developing a macro environmental economic model to analyze environment and economics. By using this model, the economic effects of investment on pollution reduction and on energy conservation are analyzed. Also, a comprehensive modeling of analyzing effects of environmental tax, reduction on greenhouse gas emission, and problems on foreign exchange on environment and economy is a main goal of this study. It is planned to develop a simulation program for the estimation of model and policies using environmental and economic data. 126 refs., 2 figs., 5 tabs.

  4. Growth structure and environment. 6 contributions to the macro economic model development

    International Nuclear Information System (INIS)

    Wier, Mette

    1998-04-01

    This thesis comprises 6 papers on the application of macro economic models to environmental problems. Interactions between the economic and the ecological models are elucidated and a description is given of a possible systematization of of the environmental-economic cycle within a macro economic model. Economic and technological limitations affecting the potential environmental advantages are discussed. In the second part of the thesis the general interdependence of production and consumption, and the various forms of environmental stress is analyzed. For this purpose an environment-related input-output model is presented, where for each industry there are given emissions and/or consumption of natural resources (so-called environmental coefficients), which are likely to originate from the activities of this industry. As examples of macro economic modelling,the nitrogen cycle in Denmark, environmental effects of consumer choice, use of building materials and emission due to energy generation and consumption etc. are analyzed. (EG) 146 refs

  5. Cultural Tourism – a Model for Economic Development

    Directory of Open Access Journals (Sweden)

    Mihaela-Carmen MUNTEAN

    2012-11-01

    Full Text Available Tourism is a complex activity whose development is manifested in a fast pace, which in the last period determined it to become one of the most spectacular phenomena of recent decades, with important economic effects and particularly, social and human effects. This form of cultural tourism is identified as an engine for development and promotion of local cultural identities, offering neighboring communities an opportunity to preservation of cultural heritage as a resource for socio-economic local development. Thus, cultural tourism is the boundary between culture and tourism industry, its development influencing each other. Cultural tourism is a form of economic development based on cultural resources, contributing to national economic development.

  6. Understanding the Drivers of Economic Growth: Grounding Endogenous Economic Growth Models in Resource-Advantage Theory

    OpenAIRE

    Hunt, Shelby D.

    2012-01-01

    Foss (2012) provides an informed and informative comment on my article “Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation” (Hunt, 2012). In general, his comment is highly supportive of both the theory and the arguments developed in my article. He does, however, raise certain issues that need to be addressed. These issues relate to the concept of total factor productivity, the role of institutions in pro...

  7. Special Issue on Using Econometrics for Assessing Economic Models

    DEFF Research Database (Denmark)

    Juselius, Katarina

    2009-01-01

    Two methodological approaches to empirical economics which are labelled ‘theory first' versus ‘reality first' are introduced building the background for the discussion of the individual contributions to this special issue.......Two methodological approaches to empirical economics which are labelled ‘theory first' versus ‘reality first' are introduced building the background for the discussion of the individual contributions to this special issue....

  8. Review of regional economic models with special reference to labor impact assessment

    Energy Technology Data Exchange (ETDEWEB)

    Ferris, G.; Mason, B.

    1979-06-01

    This paper reviews several regional economic models and examines the capabilities of these models for assessing the total employment impacts of solar energy adoption. Five generic analytic methods are discussed: economic base analysis, shift-share analysis, demographic-economic interaction models, input-output analysis, and industrial location analysis. Ten regional models incorporating some aspect of these methods are reviewed. From the model review, the conclusion is drawn that there is no single model that fits all of the necessary criteria for planned research efforts. Models that appear to hold promise are the Economic Activity Analysis (EAA) Model, the Regional Industrial Multipliers System (RIMS), the Multiregion, Multi-industry (MRMI) Model, and the MULTIREGION model.

  9. Integrated climate modelling at the Kiel Institute for World Economics: The DART Model and its applications

    OpenAIRE

    Deke, Oliver; Peterson, Sonja

    2003-01-01

    The aim of this paper is to give an overview over the DART model and its applications. The main focus is on the implementation of climate impacts into DART in the course of coupling DART to the ocean-atmosphere model and on the associated empirical problems. The basic DART model and some applications are presented in the next section. Section 3 describes in detail how the economic impacts of climate change on the agricultural sector and the impact of sea level rise are implemented in DART. Se...

  10. Modeling the economic costs of disasters and recovery: analysis using a dynamic computable general equilibrium model

    Science.gov (United States)

    Xie, W.; Li, N.; Wu, J.-D.; Hao, X.-L.

    2014-04-01

    Disaster damages have negative effects on the economy, whereas reconstruction investment has positive effects. The aim of this study is to model economic causes of disasters and recovery involving the positive effects of reconstruction activities. Computable general equilibrium (CGE) model is a promising approach because it can incorporate these two kinds of shocks into a unified framework and furthermore avoid the double-counting problem. In order to factor both shocks into the CGE model, direct loss is set as the amount of capital stock reduced on the supply side of the economy; a portion of investments restores the capital stock in an existing period; an investment-driven dynamic model is formulated according to available reconstruction data, and the rest of a given country's saving is set as an endogenous variable to balance the fixed investment. The 2008 Wenchuan Earthquake is selected as a case study to illustrate the model, and three scenarios are constructed: S0 (no disaster occurs), S1 (disaster occurs with reconstruction investment) and S2 (disaster occurs without reconstruction investment). S0 is taken as business as usual, and the differences between S1 and S0 and that between S2 and S0 can be interpreted as economic losses including reconstruction and excluding reconstruction, respectively. The study showed that output from S1 is found to be closer to real data than that from S2. Economic loss under S2 is roughly 1.5 times that under S1. The gap in the economic aggregate between S1 and S0 is reduced to 3% at the end of government-led reconstruction activity, a level that should take another four years to achieve under S2.

  11. A sophisticated simulation for the fracture behavior of concrete material using XFEM

    Science.gov (United States)

    Zhai, Changhai; Wang, Xiaomin; Kong, Jingchang; Li, Shuang; Xie, Lili

    2017-10-01

    The development of a powerful numerical model to simulate the fracture behavior of concrete material has long been one of the dominant research areas in earthquake engineering. A reliable model should be able to adequately represent the discontinuous characteristics of cracks and simulate various failure behaviors under complicated loading conditions. In this paper, a numerical formulation, which incorporates a sophisticated rigid-plastic interface constitutive model coupling cohesion softening, contact, friction and shear dilatation into the XFEM, is proposed to describe various crack behaviors of concrete material. An effective numerical integration scheme for accurately assembling the contribution to the weak form on both sides of the discontinuity is introduced. The effectiveness of the proposed method has been assessed by simulating several well-known experimental tests. It is concluded that the numerical method can successfully capture the crack paths and accurately predict the fracture behavior of concrete structures. The influence of mode-II parameters on the mixed-mode fracture behavior is further investigated to better determine these parameters.

  12. Gender Discrimination, Education and Economic Growth in a Generalized Uzawa-Lucas Two-Sector Model

    OpenAIRE

    Zhang Wei-Bin

    2014-01-01

    This paper is mainly concerned with relationships between economic growth and gender discrimination in labor markets and education. Although discrimination in different fields has well been addresses and modelled in the economic literature, there are only a few growth models with endogenous wealth and human capital accumulation, gender time distribution between work, leisure and education under gender (positive or negative) discrimination. The production and economic structures, human capital...

  13. The role of decision analytic modeling in the health economic assessment of spinal intervention.

    Science.gov (United States)

    Edwards, Natalie C; Skelly, Andrea C; Ziewacz, John E; Cahill, Kevin; McGirt, Matthew J

    2014-10-15

    Narrative review. To review the common tenets, strengths, and weaknesses of decision modeling for health economic assessment and to review the use of decision modeling in the spine literature to date. For the majority of spinal interventions, well-designed prospective, randomized, pragmatic cost-effectiveness studies that address the specific decision-in-need are lacking. Decision analytic modeling allows for the estimation of cost-effectiveness based on data available to date. Given the rising demands for proven value in spine care, the use of decision analytic modeling is rapidly increasing by clinicians and policy makers. This narrative review discusses the general components of decision analytic models, how decision analytic models are populated and the trade-offs entailed, makes recommendations for how users of spine intervention decision models might go about appraising the models, and presents an overview of published spine economic models. A proper, integrated, clinical, and economic critical appraisal is necessary in the evaluation of the strength of evidence provided by a modeling evaluation. As is the case with clinical research, all options for collecting health economic or value data are not without their limitations and flaws. There is substantial heterogeneity across the 20 spine intervention health economic modeling studies summarized with respect to study design, models used, reporting, and general quality. There is sparse evidence for populating spine intervention models. Results mostly showed that interventions were cost-effective based on $100,000/quality-adjusted life-year threshold. Spine care providers, as partners with their health economic colleagues, have unique clinical expertise and perspectives that are critical to interpret the strengths and weaknesses of health economic models. Health economic models must be critically appraised for both clinical validity and economic quality before altering health care policy, payment strategies, or

  14. Costs and benefits of controlling quarantine diseases : a bio-economic modeling approach

    NARCIS (Netherlands)

    Breukers, M.L.H.; Mourits, M.C.M.; Werf, van der W.; Oude Lansink, A.G.J.M.

    2008-01-01

    This article describes a bio-economic model to quantify the costs and benefits of controlling plant quarantine diseases. The model integrates the epidemiology and economic consequences of a quarantine disease. It allows for ex ante evaluation of control scenarios for their cost-effectiveness, taking

  15. Evaluation of the Stress Adjustment and Adaptation Model among Families Reporting Economic Pressure

    Science.gov (United States)

    Vandsburger, Etty; Biggerstaff, Marilyn A.

    2004-01-01

    This research evaluates the Stress Adjustment and Adaptation Model (double ABCX model) examining the effects resiliency resources on family functioning when families experience economic pressure. Families (N = 128) with incomes at or below the poverty line from a rural area of a southern state completed measures of perceived economic pressure,…

  16. Economic efficiency versus social equality? The U.S. liberal model versus the European social model.

    Science.gov (United States)

    Navarro, Vicente; Schmitt, John

    2005-01-01

    This article begins by challenging the widely held view in neoliberal discourse that there is a necessary trade-off between higher efficiency and lower reduction of inequalities: the article empirically shows that the liberal, U.S. model has been less efficient economically (slower economic growth, higher unemployment) than the social model in existence in the European Union and in the majority of its member states. Based on the data presented, the authors criticize the adoption of features of the liberal model (such as deregulation of their labor markets, reduction of public social expenditures) by some European governments. The second section analyzes the causes for the slowdown of economic growth and the increase of unemployment in the European Union--that is, the application of monetarist and neoliberal policies in the institutional frame of the European Union, including the Stability Pact, the objectives and modus operandi of the European Central Bank, and the very limited resources available to the European Commission for stimulating and distributive functions. The third section details the reasons for these developments, including (besides historical considerations) the enormous influence of financial capital in the E.U. institutions and the very limited democracy. Proposals for change are included.

  17. Nonlinear economic dynamics and financial modelling: essays in honour of Carl Chiarella

    NARCIS (Netherlands)

    Dieci, R.; He, X.Z.; Hommes, C.

    2014-01-01

    This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly

  18. Practical Validation of Economic Efficiency Modelling Method for Multi-Boiler Heating System

    Directory of Open Access Journals (Sweden)

    Aleksejs Jurenoks

    2017-12-01

    Full Text Available In up-to-date conditions information technology is frequently associated with the modelling process, using computer technology as well as information networks. Statistical modelling is one of the most widespread methods of research of economic systems. The selection of methods of modelling of the economic systems depends on a great number of conditions of the researched system. Modelling is frequently associated with the factor of uncertainty (or risk, who’s description goes outside the confines of the traditional statistical modelling, which, in its turn, complicates the modelling which, in its turn, complicates the modelling process. This article describes the modelling process of assessing the economic efficiency of a multi-boiler adaptive heating system in real-time systems which allows for dynamic change in the operation scenarios of system service installations while enhancing the economic efficiency of the system in consideration.

  19. Petroleum Refinery Jobs and Economic Development Impact (JEDI) Model User Reference Guide

    Energy Technology Data Exchange (ETDEWEB)

    Goldberg, Marshall [MRG and Associates, Nevada City, CA (United States)

    2013-12-31

    The Jobs and Economic Development Impact (JEDI) models, developed through the National Renewable Energy Laboratory (NREL), are user-friendly tools utilized to estimate the economic impacts at the local level of constructing and operating fuel and power generation projects for a range of conventional and renewable energy technologies. The JEDI Petroleum Refinery Model User Reference Guide was developed to assist users in employing and understanding the model. This guide provides information on the model's underlying methodology, as well as the parameters and references used to develop the cost data utilized in the model. This guide also provides basic instruction on model add-in features, operation of the model, and a discussion of how the results should be interpreted. Based on project-specific inputs from the user, the model estimates job creation, earning and output (total economic activity) for a given petroleum refinery. This includes the direct, indirect and induced economic impacts to the local economy associated with the refinery's construction and operation phases. Project cost and job data used in the model are derived from the most current cost estimations available. Local direct and indirect economic impacts are estimated using economic multipliers derived from IMPLAN software. By determining the regional economic impacts and job creation for a proposed refinery, the JEDI Petroleum Refinery model can be used to field questions about the added value refineries may bring to the local community.

  20. The tool for the automatic analysis of lexical sophistication (TAALES): version 2.0.

    Science.gov (United States)

    Kyle, Kristopher; Crossley, Scott; Berger, Cynthia

    2017-07-11

    This study introduces the second release of the Tool for the Automatic Analysis of Lexical Sophistication (TAALES 2.0), a freely available and easy-to-use text analysis tool. TAALES 2.0 is housed on a user's hard drive (allowing for secure data processing) and is available on most operating systems (Windows, Mac, and Linux). TAALES 2.0 adds 316 indices to the original tool. These indices are related to word frequency, word range, n-gram frequency, n-gram range, n-gram strength of association, contextual distinctiveness, word recognition norms, semantic network, and word neighbors. In this study, we validated TAALES 2.0 by investigating whether its indices could be used to model both holistic scores of lexical proficiency in free writes and word choice scores in narrative essays. The results indicated that the TAALES 2.0 indices could be used to explain 58% of the variance in lexical proficiency scores and 32% of the variance in word-choice scores. Newly added TAALES 2.0 indices, including those related to n-gram association strength, word neighborhood, and word recognition norms, featured heavily in these predictor models, suggesting that TAALES 2.0 represents a substantial upgrade.

  1. The current Russian model of social development, and economic growth

    Directory of Open Access Journals (Sweden)

    V V Paramonov

    2016-12-01

    Full Text Available Although the Article 7 of the Constitution of Russia adopted in 1993 defines the country as a social state, the contemporary social and economic situation is significantly different from this declaration. The author considers the current situation focusing on the foundations of the welfare state. The indicators of social inequality and stratification that allow to identify the country as a social state prove the widening gap between the rich and poor. In recent years, nothing has been done to achieve the more equitable distribution of income and national wealth, which led to the further growth of social inequality exceeding the global indices. The author believes that the high level of social inequality negatively affects the economic growth. Based on the studies of Russian scientists he concludes that equal distribution of income provides higher rates of economic growth and prosperity of the country. The modified theory of the factors of production explains this interconnection, and adds a few more factors, including such a specific resource as sales market, to three factors introduced by J.B. Say at the beginning of the XIX century. The huge social inequality and, consequently, a significant number of the poor deprive the country of such an important resource. To change the situation, the author proposes to return to the progressive tax scale and introduce the zero rate of income tax for the poorest groups in order to create prerequisites for the growth of consumer demand under the economic crisis.

  2. JEDI for Advanced Users | Jobs and Economic Development Impact Models |

    Science.gov (United States)

    discussion. Users with more experience with power generation projects and/or economic impact analysis can , earnings, and output (per million dollars change in final demand) as well as personal consumption Services Professional Services Retail Trade Transportation, Communication and Public Utilities Wholesale

  3. Folk-Economic Beliefs: An Evolutionary Cognitive Model.

    Science.gov (United States)

    Boyer, Pascal; Petersen, Michael Bang

    2017-10-12

    The domain of "folk-economics" consists in explicit beliefs about the economy held by laypeople, untrained in economics, about such topics as e.g., the causes of the wealth of nations, the benefits or drawbacks of markets and international trade, the effects of regulation, the origins of inequality, the connection between work and wages, the economic consequences of immigration, or the possible causes of unemployment. These beliefs are crucial in forming people's political beliefs, and in shaping their reception of different policies. Yet, they often conflict with elementary principles of economic theory and are often described as the consequences of ignorance, irrationality or specific biases. As we will argue, these past perspectives fail to predict the particular contents of popular folk-economic beliefs and, as a result, there is no systematic study of the cognitive factors involved in their emergence and cultural success. Here we propose that the cultural success of particular beliefs about the economy is predictable if we consider the influence of specialized, largely automatic inference systems that evolved as adaptations to ancestral human small-scale sociality. These systems, for which there is independent evidence, include free-rider detection, fairness-based partner-choice, ownership intuitions, coalitional psychology, and more. Information about modern mass-market conditions activates these specific inference-systems, resulting in particular intuitions, e.g., that impersonal transactions are dangerous or that international trade is a zero-sum game. These intuitions in turn make specific policy proposals more likely than others to become intuitively compelling, and as a consequence exert a crucial influence on political choices.

  4. Integrating global socio-economic influences into a regional land use change model for China

    Science.gov (United States)

    Xu, Xia; Gao, Qiong; Peng, Changhui; Cui, Xuefeng; Liu, Yinghui; Jiang, Li

    2014-03-01

    With rapid economic development and urbanization, land use in China has experienced huge changes in recent years; and this will probably continue in the future. Land use problems in China are urgent and need further study. Rapid land-use change and economic development make China an ideal region for integrated land use change studies, particularly the examination of multiple factors and global-regional interactions in the context of global economic integration. This paper presents an integrated modeling approach to examine the impact of global socio-economic processes on land use changes at a regional scale. We develop an integrated model system by coupling a simple global socio-economic model (GLOBFOOD) and regional spatial allocation model (CLUE). The model system is illustrated with an application to land use in China. For a given climate change, population growth, and various socio-economic situations, a global socio-economic model simulates the impact of global market and economy on land use, and quantifies changes of different land use types. The land use spatial distribution model decides the type of land use most appropriate in each spatial grid by employing a weighted suitability index, derived from expert knowledge about the ecosystem state and site conditions. A series of model simulations will be conducted and analyzed to demonstrate the ability of the integrated model to link global socioeconomic factors with regional land use changes in China. The results allow an exploration of the future dynamics of land use and landscapes in China.

  5. Scenario Analysis With Economic-Energy Systems Models Coupled to Simple Climate Models

    Science.gov (United States)

    Hanson, D. A.; Kotamarthi, V. R.; Foster, I. T.; Franklin, M.; Zhu, E.; Patel, D. M.

    2008-12-01

    Here, we compare two scenarios based on Stanford University's Energy Modeling Forum Study 22 on global cooperative and non-cooperative climate policies. In the former, efficient transition paths are implemented including technology Research and Development effort, energy conservation programs, and price signals for greenhouse gas (GHG) emissions. In the non-cooperative case, some countries try to relax their regulations and be free riders. Total emissions and costs are higher in the non-cooperative scenario. The simulations, including climate impacts, run to the year 2100. We use the Argonne AMIGA-MARS economic-energy systems model, the Texas AM University's Forest and Agricultural Sector Optimization Model (FASOM), and the University of Illinois's Integrated Science Assessment Model (ISAM), with offline coupling between the FASOM and AMIGA-MARS and an online coupling between AMIGA-MARS and ISAM. This set of models captures the interaction of terrestrial systems, land use, crops and forests, climate change, human activity, and energy systems. Our scenario simulations represent dynamic paths over which all the climate, terrestrial, economic, and energy technology equations are solved simultaneously Special attention is paid to biofuels and how they interact with conventional gasoline/diesel fuel markets. Possible low-carbon penetration paths are based on estimated costs for new technologies, including cellulosic biomass, coal-to-liquids, plug-in electric vehicles, solar and nuclear energy. We explicitly explore key uncertainties that affect mitigation and adaptation scenarios.

  6. Full employment and competition in the Aspen economic model: implications for modeling acts of terrorism.

    Energy Technology Data Exchange (ETDEWEB)

    Sprigg, James A.; Ehlen, Mark Andrew

    2004-11-01

    Acts of terrorism could have a range of broad impacts on an economy, including changes in consumer (or demand) confidence and the ability of productive sectors to respond to changes. As a first step toward a model of terrorism-based impacts, we develop here a model of production and employment that characterizes dynamics in ways useful toward understanding how terrorism-based shocks could propagate through the economy; subsequent models will introduce the role of savings and investment into the economy. We use Aspen, a powerful economic modeling tool developed at Sandia, to demonstrate for validation purposes that a single-firm economy converges to the known monopoly equilibrium price, output, and employment levels, while multiple-firm economies converge toward the competitive equilibria typified by lower prices and higher output and employment. However, we find that competition also leads to churn by consumers seeking lower prices, making it difficult for firms to optimize with respect to wages, prices, and employment levels. Thus, competitive firms generate market ''noise'' in the steady state as they search for prices and employment levels that will maximize profits. In the context of this model, not only could terrorism depress overall consumer confidence and economic activity but terrorist acts could also cause normal short-run dynamics to be misinterpreted by consumers as a faltering economy.

  7. MULTIREGION: a simulation-forecasting model of BEA economic area population and employment. [Bureau of Economic Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Olsen, R.J.; Westley, G.W.; Herzog, H.W. Jr.; Kerley, C.R.; Bjornstad, D.J.; Vogt, D.P.; Bray, L.G.; Grady, S.T.; Nakosteen, R.A.

    1977-10-01

    This report documents the development of MULTIREGION, a computer model of regional and interregional socio-economic development. The MULTIREGION model interprets the economy of each BEA economic area as a labor market, measures all activity in terms of people as members of the population (labor supply) or as employees (labor demand), and simultaneously simulates or forecasts the demands and supplies of labor in all BEA economic areas at five-year intervals. In general the outputs of MULTIREGION are intended to resemble those of the Water Resource Council's OBERS projections and to be put to similar planning and analysis purposes. This report has been written at two levels to serve the needs of multiple audiences. The body of the report serves as a fairly nontechnical overview of the entire MULTIREGION project; a series of technical appendixes provide detailed descriptions of the background empirical studies of births, deaths, migration, labor force participation, natural resource employment, manufacturing employment location, and local service employment used to construct the model.

  8. MODELS OF APPLICATION ECONOMIC VALUE ADDED IN AUTOMOTIVE COMPANY

    Directory of Open Access Journals (Sweden)

    Eva MALICHOVA

    2017-09-01

    Full Text Available Enterprises are currently trying to bring new technologies into production and use new procedures and recommendations in various management activities. However, they should not forget to change their approach to the evaluation of the results achieved and focus on the use of modern methods of performance evaluation and prove to apply them in their enterprises. The aim of this paper is to point out several variants of the calculation of Economic value added (EVA indicator, define the possibilities to apply EVA methods to the conditions of enterprises in the Slovak Republic and the need to adjust data providing financial statements and data for current accounts. Application of economic value added should be able to contribute to changes in the views of the owners and managers of enterprises in the Slovak republic for use not only as financial indicators.

  9. Chaos control in an economic model via minimum entropy strategy

    Energy Technology Data Exchange (ETDEWEB)

    Salarieh, Hassan [Center of Excellence in Design, Robotics and Automation, Department of Mechanical Engineering, Sharif University of Technology, P.O. Box 11365-9567, Tehran (Iran, Islamic Republic of)], E-mail: salarieh@mech.sharif.edu; Alasty, Aria [Center of Excellence in Design, Robotics and Automation, Department of Mechanical Engineering, Sharif University of Technology, P.O. Box 11365-9567, Tehran (Iran, Islamic Republic of); National Research Institute for Science Policy (NRISP), Soheil Street, Shirazi Avenue, Tehran (Iran, Islamic Republic of)], E-mail: aalasti@sharif.edu

    2009-04-30

    In this paper, minimum entropy algorithm for controlling chaos, is applied to a Cournot duopoly with different constant marginal costs, as a discrete-time dynamical system which shows chaotic behavior. The ME control is implemented through delayed feedback. It is assumed that the equations of the dynamical system are not known, so the feedback gain cannot be obtained analytically from the system equations. In the ME method the feedback gain is obtained adaptively in such a way that the entropy of the system converges to zero, hence a fixed point of the system will be stabilized. Application of the proposed method with different economic control strategies is numerically investigated. Simulation results show the effectiveness of the ME method for controlling chaos in economic systems with unknown equations.

  10. Review of whole-farm economic modelling for irrigation farming ...

    African Journals Online (AJOL)

    Optimisation models take the opportunity cost of water into account while ... against the extra time needed to validate models and generate the required information. ... Modelling decision-making by means of a single-attribute utility function is ...

  11. Ecosystem's Modeling of Bhoj Wetland - A Base For Economic Valuation and Sustainable Management

    Science.gov (United States)

    Verma, M.; Bakshi, N.; Nair, R.

    terms of productivity losses and health impacts? How feedback can be taken from these impacts to revise or develop management policies and to seek participation of stakeholders to check wet- land degradation or losses? What type of benefits accrues to people from this wetland? What is the willingness of the people to pay to conserve this important water body? Lake degradation is due to multiple causes hence lakeSs restoration requires multi- ple interventions. To suggest such interventions and above all their prioritizations, an 1 ecosystem model for the lake has been developed following the systemSs dynamics approach. The main objective of the Ecosystem Modeling of the wetland was to under- stand the changes in the hydrology of the wetland first on account of certain changes in the conditions of the surroundings such that valuation process can be followed with current and future scenarios of the lakes hydrology in hand. A sophisticated computer software called as STELLA was used for the modeling exercise. The model used wa- ter quality parameters to show the impact of flow of sewage on dissolved oxygen, bio-chemical oxygen demand, pH, total hardness, total alkalinity, bacterial count and growth of weeds. A base scenario has been created and various simulation runs have been performed for the pre and ongoing restoration activities for next 25 years so as to represent the health of the wetlandSs ecosystem. These scenarios have then been used in the valuation exercise to estimate the conservation value of the lake. Various valuation techniques like contingent valuation, production function approach, hedonic pricing and supply cost have been used to capture the economic values as perceived by different stakeholders. These scenarios and the valuation exercises further throw light on the prioritization of future policy intervention for sustainable management of this urban wetland. Key words: Ecosystem Services, Water Quality Parameters, EcosystemSs Modeling, Economic

  12. Legal and Economic Aspects of the Macedonian Model of Franchising

    OpenAIRE

    Sotiroski, Ljupco; Filiposki, Oliver

    2016-01-01

    Franchising is done by global regulatory framework and has an impact to the national legal sources. This article aims to emphasize the importance and functionality of the legal and economic aspects of the Macedonian franchising module and practice. In respect of Macedonian case, the franchising mechanism is getting direct consequences of the national trade in the small and still developing Macedonian economy. The envisaged paper explores various options for national regulation in light of exi...

  13. Economics of extreme weather events: Terminology and regional impact models

    OpenAIRE

    Jahn, Malte

    2015-01-01

    Impacts of extreme weather events are relevant for regional (in the sense of subnational) economies and in particular cities in many aspects. Cities are the cores of economic activity and the amount of people and assets endangered by extreme weather events is large, even under the current climate. A changing climate with changing extreme weather patterns and the process of urbanization will make the whole issue even more relevant in the future. In this paper, definitions and terminology in th...

  14. Coupled flare attractors – a discrete prototype for economic modelling

    Directory of Open Access Journals (Sweden)

    Georg C. Hartmann

    1999-01-01

    Full Text Available A chaotic environment can give rise to “flares” if an autocatalytic variable responds in a multiplicative, threshold-type fashion to the environmental forcing. An “economic unit” similarly depends in its growth behavior on the unpredictable (chaotic? buying habits of its customers, say. It turns out that coupled flare attractors are surprisingly robust in the sense that the resulting “economy” is largely independent of the extent of diffusive coupling used. Some simulations are presented.

  15. Aligning economic impact with environmental benefits: a green strategy model

    OpenAIRE

    Gu, Q.; Lago, P.; Potenza, S.

    2012-01-01

    To achieve lower energy consumption many green strategies (e.g. virtualize applications and consolidate them on shared server machines, or optimize the usage of the private cloud by opening up to external consumers) have been discussed. In practice, however, the major incentive for a company to go green is reducing costs. While green strategies often focus on technical and environmental issues, they hardly address the economic impact that they may bring. If green strategies do not lead to an ...

  16. The impact of remittances on economic growth: An econometric model

    Directory of Open Access Journals (Sweden)

    Dietmar Meyer

    2017-05-01

    In other words, the econometric analysis will be based on those six remittance receiving countries. The paper is then to review the empirical literature devoted to the impact of remittances on economic growth, in order, to identify empirically if there are significant relationships between remittances and growth in these countries. The results suggest that remittances have a positive impact on growth and that this impact increases at higher levels of remittances relative to GDP.

  17. Approach and development strategy for an agent-based model of economic confidence.

    Energy Technology Data Exchange (ETDEWEB)

    Sprigg, James A.; Pryor, Richard J.; Jorgensen, Craig Reed

    2004-08-01

    We are extending the existing features of Aspen, a powerful economic modeling tool, and introducing new features to simulate the role of confidence in economic activity. The new model is built from a collection of autonomous agents that represent households, firms, and other relevant entities like financial exchanges and governmental authorities. We simultaneously model several interrelated markets, including those for labor, products, stocks, and bonds. We also model economic tradeoffs, such as decisions of households and firms regarding spending, savings, and investment. In this paper, we review some of the basic principles and model components and describe our approach and development strategy for emulating consumer, investor, and business confidence. The model of confidence is explored within the context of economic disruptions, such as those resulting from disasters or terrorist events.

  18. An Agent-Based Dynamic Model of Politics, Fertility and Economic Development

    OpenAIRE

    Zining Yang

    2016-01-01

    In the political economy of development, government policy choices at a single point in time can dramatically affect a country's development path by impacting fertility, economic and political decisions across generations. Combining system dynamics and agent-based modeling approaches in a complex adaptive system, a simulation framework of the Politics of Fertility and Economic Development (POFED) is formalized to understand the relationship between politics, economic, and demography change at...

  19. Optimal model of economic diplomacy of Republic of Croatia in the contexst of global intelligence revolution

    Directory of Open Access Journals (Sweden)

    Zdravko Bazdan

    2010-12-01

    Full Text Available The aim of this study is to point to the fact that economic diplomacy is a relatively new practice in international economics, specifically the expansion of the occurrence of Intelligence Revolution. The history in global relations shows that without economic diplomacy there is no optimal economic growth and social development. It is important to note that economic diplomacy should be important for our country and the political elite, as well as for the administration of Croatian economic subjects that want to compete in international market economy. Comparative analysis are particularly highlighted by French experience. Therefore, Croatia should copy the practice of those countries that are successful in economic diplomacy. And in the curricula - especially of our economic faculties - we should introduce the course of Economic Diplomacy. It is important to note, that in order to form our optimal model of economic diplomacy which would be headed by the President of Republic of Croatia formula should be based on: Intelligence Security Agency (SOA, Intelligence Service of the Ministry of Foreign Affairs and European Integration, Intelligence Service of the Croatian Chamber of Commerce and the Intelligence Service of the Ministry of Economy, Labor and Entrepreneurship. Described model would consist of intelligence subsystem with at least twelve components.

  20. Quantitative Analysis of Intra Urban Growth Modeling using socio economic agents by combining cellular automata model with agent based model

    Science.gov (United States)

    Singh, V. K.; Jha, A. K.; Gupta, K.; Srivastav, S. K.

    2017-12-01

    Recent studies indicate that there is a significant improvement in the urban land use dynamics through modeling at finer spatial resolutions. Geo-computational models such as cellular automata and agent based model have given evident proof regarding the quantification of the urban growth pattern with urban boundary. In recent studies, socio- economic factors such as demography, education rate, household density, parcel price of the current year, distance to road, school, hospital, commercial centers and police station are considered to the major factors influencing the Land Use Land Cover (LULC) pattern of the city. These factors have unidirectional approach to land use pattern which makes it difficult to analyze the spatial aspects of model results both quantitatively and qualitatively. In this study, cellular automata model is combined with generic model known as Agent Based Model to evaluate the impact of socio economic factors on land use pattern. For this purpose, Dehradun an Indian city is selected as a case study. Socio economic factors were collected from field survey, Census of India, Directorate of economic census, Uttarakhand, India. A 3X3 simulating window is used to consider the impact on LULC. Cellular automata model results are examined for the identification of hot spot areas within the urban area and agent based model will be using logistic based regression approach where it will identify the correlation between each factor on LULC and classify the available area into low density, medium density, high density residential or commercial area. In the modeling phase, transition rule, neighborhood effect, cell change factors are used to improve the representation of built-up classes. Significant improvement is observed in the built-up classes from 84 % to 89 %. However after incorporating agent based model with cellular automata model the accuracy improved from 89 % to 94 % in 3 classes of urban i.e. low density, medium density and commercial classes

  1. The economic efficiency of conservation measures for amphibians in organic farming--results from bio-economic modelling.

    Science.gov (United States)

    Schuler, Johannes; Sattler, Claudia; Helmecke, Angela; Zander, Peter; Uthes, Sandra; Bachinger, Johann; Stein-Bachinger, Karin

    2013-01-15

    This paper presents a whole farm bio-economic modelling approach for the assessment and optimisation of amphibian conservation conditions applied at the example of a large scale organic farm in North-Eastern Germany. The assessment focuses mainly on the habitat quality as affected by conservation measures such as through specific adapted crop production activities (CPA) and in-field buffer strips for the European tree frog (Hyla arborea), considering also interrelations with other amphibian species (i.e. common spadefoot toad (Pelobates fuscus), fire-bellied toad (Bombina bombina)). The aim of the approach is to understand, analyse and optimize the relationships between the ecological and economic performance of an organic farming system, based on the expectation that amphibians are differently impacted by different CPAs. The modelling system consists of a set of different sub-models that generate a farm model on the basis of environmentally evaluated CPAs. A crop-rotation sub-model provides a set of agronomically sustainable crop rotations that ensures overall sufficient nitrogen supply and controls weed, pest and disease infestations. An economic sub-model calculates the gross margins for each possible CPA including costs of inputs such as labour and machinery. The conservation effects of the CPAs are assessed with an ecological sub-model evaluates the potential negative or positive effect that each work step of a CPA has on amphibians. A mathematical programming sub-model calculates the optimal farm organization taking into account the limited factors of the farm (e.g. labour, land) as well as ecological improvements. In sequential model runs, the habitat quality is to be improved by the model, while the highest possible gross margin is still to be achieved. The results indicate that the model can be used to show the scope of action that a farmer has to improve habitat quality by reducing damage to amphibian population on its land during agricultural activities

  2. On the economic benefit of utility based estimation of a volatility model

    OpenAIRE

    Adam Clements; Annastiina Silvennoinen

    2009-01-01

    Forecasts of asset return volatility are necessary for many financial applications, including portfolio allocation. Traditionally, the parameters of econometric models used to generate volatility forecasts are estimated in a statistical setting and subsequently used in an economic setting such as portfolio allocation. Differences in the criteria under which the model is estimated and applied may inhibit reduce the overall economic benefit of a model in the context of portfolio allocation. Thi...

  3. Economic impacts of climate change. Flooding and salinity in scenarios, models and cases

    International Nuclear Information System (INIS)

    Jonkhoff, W.; Koops, O.; Van der Krogt, R.; Oude Essink, G.; Rietveld, E.

    2008-07-01

    In this report, climatic and economic scenarios are combined and future risks are calculated for the consequences of climate change, such as a rising sea level, flooding, extreme draughts and salinity. The calculation of these economic effects of climate change are based on climate scenarios of the KNMI (Royal Dutch Meteorological Institute), TNO's RAEM model (Spatial General Economic Model), the high tide information system of the Dutch Ministry of Waterways and Public Works and the Space scanner of the Environmental Assessment Agency. Next to information on scenarios and models, this report also addresses damage calculations of flooding near Lopik and Ter Heide. The report ends with policy recommendations for adaptation policy. [mk] [nl

  4. Economic modeling using evolutionary algorithms : the effect of binary encoding of strategies

    NARCIS (Netherlands)

    Waltman, L.R.; Eck, van N.J.; Dekker, Rommert; Kaymak, U.

    2011-01-01

    We are concerned with evolutionary algorithms that are employed for economic modeling purposes. We focus in particular on evolutionary algorithms that use a binary encoding of strategies. These algorithms, commonly referred to as genetic algorithms, are popular in agent-based computational economics

  5. Economic Disadvantage in Complex Family Systems: Expansion of Family Stress Models

    Science.gov (United States)

    Barnett, Melissa A.

    2008-01-01

    Economic disadvantage is associated with multiple risks to early socioemotional development. This article reviews research regarding family stress frameworks to model the pathways from economic disadvantage to negative child outcomes via family processes. Future research in this area should expand definitions of family and household to incorporate…

  6. Medium-term electric power demand forecasting based on economic-electricity transmission model

    Science.gov (United States)

    Li, Wenfeng; Bao, Fangmin; Bai, Hongkun; Liu, Wei; Liu, Yongmin; Mao, Yubin; Wang, Jiangbo; Liu, Junhui

    2018-06-01

    Electric demand forecasting is a basic work to ensure the safe operation of power system. Based on the theories of experimental economics and econometrics, this paper introduces Prognoz Platform 7.2 intelligent adaptive modeling platform, and constructs the economic electricity transmission model that considers the economic development scenarios and the dynamic adjustment of industrial structure to predict the region's annual electricity demand, and the accurate prediction of the whole society's electricity consumption is realized. Firstly, based on the theories of experimental economics and econometrics, this dissertation attempts to find the economic indicator variables that drive the most economical growth of electricity consumption and availability, and build an annual regional macroeconomic forecast model that takes into account the dynamic adjustment of industrial structure. Secondly, it innovatively put forward the economic electricity directed conduction theory and constructed the economic power transfer function to realize the group forecast of the primary industry + rural residents living electricity consumption, urban residents living electricity, the second industry electricity consumption, the tertiary industry electricity consumption; By comparing with the actual value of economy and electricity in Henan province in 2016, the validity of EETM model is proved, and the electricity consumption of the whole province from 2017 to 2018 is predicted finally.

  7. Multi-Attribute Modelling of Economic and Ecological Impacts of Cropping Systems

    NARCIS (Netherlands)

    Bohanec, M.; Dzeroski, S.; Znidarsic, M.; Messéan, A.; Scatasta, S.; Wesseler, J.H.H.

    2004-01-01

    Modelling of economic and ecological impacts of genetically modified crops is a demanding task. We present some preliminary attempts made for the purpose of the ECOGEN project "Soil ecological and economic evaluation of genetically modified crops". One of the goals of the project is to develop a

  8. An economic theory-based explanatory model of agricultural land-use patterns

    NARCIS (Netherlands)

    Diogo, V.; Koomen, E.; Kuhlman, T.

    2015-01-01

    An economic theory-based land-use modelling framework is presented aiming to explain the causal link between economic decisions and resulting spatial patterns of agricultural land use. The framework assumes that farmers pursue utility maximisation in agricultural production systems, while

  9. Foreword to the Special Issue on "Dynamic Models in Economics and Finance"

    Science.gov (United States)

    Gardini, Laura; Kubin, Ingrid; Tramontana, Fabio; Wagener, Florian

    2018-05-01

    International workshops on Dynamic Models in Economics and Finance (MDEF) take place every two years in Urbino (Italy); since the inception of the series in 2000, there have been nine editions. The subject has become a central topic for scholars working on economic dynamics. In 2016 the workshop was held under the auspices of University of Urbino "Carlo Bo" , DESP1

  10. Multi-basin, Multi-sector Drought Economic Impact Model in Python: Development and Applications

    Science.gov (United States)

    Gutenson, J. L.; Zhu, L.; Ernest, A. N. S.; Oubeidillah, A.; Bearden, B.; Johnson, T. G.

    2015-12-01

    Drought is one of the most economically disastrous natural hazards, one whose impacts are exacerbated by the lack of abrupt onset and offset that define tornados and hurricanes. In the United States, about 30 billion dollars losses is caused by drought in 2012, resulting in widespread economic impacts for societies, industries, agriculture, and recreation. And in California, the drought cost statewide economic losses about 2.2 billion, with a total loss of 17,100 seasonal and part-time jobs. Driven by a variety of factors including climate change, population growth, increased water demands, alteration to land cover, drought occurs widely all over the world. Drought economic consequence assessment tool are greatly needed to allow decision makers and stakeholders to anticipate and manage effectively. In this study, current drought economic impact modeling methods were reviewed. Most of these models only deal with the impact in the agricultural sector with a focus on a single basin; few of these models analyze long term impact. However, drought impacts are rarely restricted to basin boundaries, and cascading economic impacts are likely to be significant. A holistic approach to multi-basin, multi-sector drought economic impact assessment is needed.In this work, we developed a new model for drought economic impact assessment, Drought Economic Impact Model in Python (PyDEM). This model classified all business establishments into thirteen categories based on NAICS, and using a continuous dynamic social accounting matrix approach, coupled with calculation of the indirect consequences for the local and regional economies and the various resilience. In addition, Environmental Policy Integrated Climate model was combined for analyzing drought caused soil erosion together with agriculture production, and then the long term impacts of drought were achieved. A visible output of this model was presented in GIS. In this presentation, Choctawhatchee-Pea-Yellow River Basins, Alabama

  11. Ecological-economic modeling for biodiversity management: potential, pitfalls, and prospects

    NARCIS (Netherlands)

    Wätzold, F.; Drechsler, M.; Armstrong, C.W.; Baumgärtner, S.; Grimm, V.; Huth, A.; Perrings, C.; Possingham, H.P.; Shogren, J.F.; Skonhoft, A.; Verboom-Vasiljev, J.; Wissel, C.

    2006-01-01

    Ecologists and economists both use models to help develop strategies for biodiversity management. The practical use of disciplinary models, however, can be limited because ecological models tend not to address the socioeconomic dimension of biodiversity management, whereas economic models tend to

  12. The musicality of non-musicians: an index for assessing musical sophistication in the general population.

    Directory of Open Access Journals (Sweden)

    Daniel Müllensiefen

    Full Text Available Musical skills and expertise vary greatly in Western societies. Individuals can differ in their repertoire of musical behaviours as well as in the level of skill they display for any single musical behaviour. The types of musical behaviours we refer to here are broad, ranging from performance on an instrument and listening expertise, to the ability to employ music in functional settings or to communicate about music. In this paper, we first describe the concept of 'musical sophistication' which can be used to describe the multi-faceted nature of musical expertise. Next, we develop a novel measurement instrument, the Goldsmiths Musical Sophistication Index (Gold-MSI to assess self-reported musical skills and behaviours on multiple dimensions in the general population using a large Internet sample (n = 147,636. Thirdly, we report results from several lab studies, demonstrating that the Gold-MSI possesses good psychometric properties, and that self-reported musical sophistication is associated with performance on two listening tasks. Finally, we identify occupation, occupational status, age, gender, and wealth as the main socio-demographic factors associated with musical sophistication. Results are discussed in terms of theoretical accounts of implicit and statistical music learning and with regard to social conditions of sophisticated musical engagement.

  13. Moral foundations and political attitudes: The moderating role of political sophistication.

    Science.gov (United States)

    Milesi, Patrizia

    2016-08-01

    Political attitudes can be associated with moral concerns. This research investigated whether people's level of political sophistication moderates this association. Based on the Moral Foundations Theory, this article examined whether political sophistication moderates the extent to which reliance on moral foundations, as categories of moral concerns, predicts judgements about policy positions. With this aim, two studies examined four policy positions shown by previous research to be best predicted by the endorsement of Sanctity, that is, the category of moral concerns focused on the preservation of physical and spiritual purity. The results showed that reliance on Sanctity predicted political sophisticates' judgements, as opposed to those of unsophisticates, on policy positions dealing with equal rights for same-sex and unmarried couples and with euthanasia. Political sophistication also interacted with Fairness endorsement, which includes moral concerns for equal treatment of everybody and reciprocity, in predicting judgements about equal rights for unmarried couples, and interacted with reliance on Authority, which includes moral concerns for obedience and respect for traditional authorities, in predicting opposition to stem cell research. Those findings suggest that, at least for these particular issues, endorsement of moral foundations can be associated with political attitudes more strongly among sophisticates than unsophisticates. © 2015 International Union of Psychological Science.

  14. Reading wild minds: A computational assay of Theory of Mind sophistication across seven primate species.

    Directory of Open Access Journals (Sweden)

    Marie Devaine

    2017-11-01

    Full Text Available Theory of Mind (ToM, i.e. the ability to understand others' mental states, endows humans with highly adaptive social skills such as teaching or deceiving. Candidate evolutionary explanations have been proposed for the unique sophistication of human ToM among primates. For example, the Machiavellian intelligence hypothesis states that the increasing complexity of social networks may have induced a demand for sophisticated ToM. This type of scenario ignores neurocognitive constraints that may eventually be crucial limiting factors for ToM evolution. In contradistinction, the cognitive scaffolding hypothesis asserts that a species' opportunity to develop sophisticated ToM is mostly determined by its general cognitive capacity (on which ToM is scaffolded. However, the actual relationships between ToM sophistication and either brain volume (a proxy for general cognitive capacity or social group size (a proxy for social network complexity are unclear. Here, we let 39 individuals sampled from seven non-human primate species (lemurs, macaques, mangabeys, orangutans, gorillas and chimpanzees engage in simple dyadic games against artificial ToM players (via a familiar human caregiver. Using computational analyses of primates' choice sequences, we found that the probability of exhibiting a ToM-compatible learning style is mainly driven by species' brain volume (rather than by social group size. Moreover, primates' social cognitive sophistication culminates in a precursor form of ToM, which still falls short of human fully-developed ToM abilities.

  15. The musicality of non-musicians: an index for assessing musical sophistication in the general population.

    Science.gov (United States)

    Müllensiefen, Daniel; Gingras, Bruno; Musil, Jason; Stewart, Lauren

    2014-01-01

    Musical skills and expertise vary greatly in Western societies. Individuals can differ in their repertoire of musical behaviours as well as in the level of skill they display for any single musical behaviour. The types of musical behaviours we refer to here are broad, ranging from performance on an instrument and listening expertise, to the ability to employ music in functional settings or to communicate about music. In this paper, we first describe the concept of 'musical sophistication' which can be used to describe the multi-faceted nature of musical expertise. Next, we develop a novel measurement instrument, the Goldsmiths Musical Sophistication Index (Gold-MSI) to assess self-reported musical skills and behaviours on multiple dimensions in the general population using a large Internet sample (n = 147,636). Thirdly, we report results from several lab studies, demonstrating that the Gold-MSI possesses good psychometric properties, and that self-reported musical sophistication is associated with performance on two listening tasks. Finally, we identify occupation, occupational status, age, gender, and wealth as the main socio-demographic factors associated with musical sophistication. Results are discussed in terms of theoretical accounts of implicit and statistical music learning and with regard to social conditions of sophisticated musical engagement.

  16. Economics as a factor in models of behavioral motivation and change.

    Science.gov (United States)

    Montoya, I D; Atkinson, J S; Trevino, R A

    2000-02-01

    This note first presents a summary of four main behavioral models that are used to explain behavioral motivation and change. Three models are based on psychosocial theory. They are: 1) the Theory of Reasoned Action, 2) the Theory of Planned Behavior, and 3) the Theory of Stages-of-Change. The fourth model is based on economic theory and is known as the Rational Addiction Model. Each model is analyzed for its strengths and weaknesses. The note concludes by arguing for the usefulness of integrating the economic and the psychosocial models to study drug use. Specific examples and suggestions are presented.

  17. Green and economic fleet replacement modeling : part I.

    Science.gov (United States)

    2011-10-01

    "The purpose of this study was to gain a better understanding of how equipment replacement decisions are supported with data collection and : quantitative models at state DOTs, and to determine if models found in the research literature offer any bet...

  18. Discounting the future: influence of the economic model.

    Science.gov (United States)

    West, R R

    1996-06-01

    To consider the effect of the economic discount rate on health care policy and the rationale for discounting the collective future of society generally. A review of the concept of discounting the future vis à vis the present from the points of view of individuals (who pass on) and of societies (that continue) and reconsideration of the application of discounting to typical public health scenarios. A public health service, within a basically stable society, which can reasonably anticipate a nearly certain future. Discounting necessarily overvalues the "here and now" compared with the future. While applications of discount rates, typical of those employed in health economic studies in recent years, may seem rational in health care programmes directed at middle aged employed people, they do not for the young and the elderly, important recipients of health care. The consequences of discounting do not accord with the aims and objectives of public health. The "time preferences" of transient individuals within a stable society do not provide a rational basis for time preference of a stable society collectively. Discounting inevitably encourages "short termism" and hence biases public policy decision making. The neoclassical theory that gave rise to the concept of discounting requires revision.

  19. Model integration and the economics of nuclear power

    International Nuclear Information System (INIS)

    Lundgren, S.

    1985-01-01

    The author proposes and applies a specific approach to model integration, i.e. the merger of two or several independently developed models. The approach is intended for integrations of activity analysis sector models and applied general equilibrium models. Model integration makes it possible to extend the range of applicability of applied general equilibrium models by exploiting the information contained in sector models. It also makes it possible to evaluate the validity of the partial equilibrium analyses in which sector models often are employed. The proposed approach is used to integrate a sector model of electricity and heat production with a general equilibrium model of the Swedish economy. Both models have been constructed within the research programme. The author uses the integrated model to look at two issues concerning the role of nuclear power on the Swedish electricity market: What are the likely consequences of a nuclear power discontinuation and how does the nuclear power investment programme of the 1970's and the early 1980's compare with a socially efficient one. (Author)

  20. Characterizing economic trends by Bayesian stochastic model specification search

    DEFF Research Database (Denmark)

    Grassi, Stefano; Proietti, Tommaso

    We extend a recently proposed Bayesian model selection technique, known as stochastic model specification search, for characterising the nature of the trend in macroeconomic time series. In particular, we focus on autoregressive models with possibly time-varying intercept and slope and decide on ...

  1. Stability and the structure of continuous-time economic models

    NARCIS (Netherlands)

    Nieuwenhuis, H.J.; Schoonbeek, L.

    In this paper we investigate the relationship between the stability of macroeconomic, or macroeconometric, continuous-time models and the structure of the matrices appearing in these models. In particular, we concentrate on dominant-diagonal structures. We derive general stability results for models

  2. Analysis of Economic Burden of Seasonal Influenza: An Actuarial Based Conceptual Model

    Directory of Open Access Journals (Sweden)

    S. S. N. Perera

    2017-01-01

    Full Text Available Analysing the economic burden of the seasonal influenza is highly essential due to the large number of outbreaks in recent years. Mathematical and actuarial models can be considered as management tools to understand the dynamical behavior, predict the risk, and compute it. This study is an attempt to develop conceptual model to investigate the economic burden due to seasonal influenza. The compartment SIS (susceptible-infected-susceptible model is used to capture the dynamical behavior of influenza. Considering the current investment and future medical care expenditure as premium payment and benefit (claim, respectively, the insurance and actuarial based conceptual model is proposed to model the present economic burden due to the spread of influenza. Simulation is carried out to demonstrate the variation of the present economic burden with respect to model parameters. The sensitivity of the present economic burden is studied with respect to the risk of disease spread. The basic reproduction is used to identify the risk of disease spread. Impact of the seasonality is studied by introducing the seasonally varying infection rate. The proposed model provides theoretical background to investigate the economic burden of seasonal influenza.

  3. Towards low carbon business park energy systems: Classification of techno-economic energy models

    International Nuclear Information System (INIS)

    Timmerman, Jonas; Vandevelde, Lieven; Van Eetvelde, Greet

    2014-01-01

    To mitigate climate destabilisation, human-induced greenhouse gas emissions urgently need to be curbed. A major share of these emissions originates from the industry and energy sectors. Hence, a low carbon shift in industrial and business park energy systems is called for. Low carbon business parks minimise energy-related carbon dioxide emissions by maximal exploitation of local renewable energy production, enhanced energy efficiency, and inter-firm heat exchange, combined in a collective energy system. The holistic approach of techno-economic energy models facilitates the design of such systems, while yielding an optimal trade-off between energetic, economic and environmental performances. However, no models custom-tailored for industrial park energy systems are detected in literature. In this paper, existing energy model classifications are scanned for adequate model characteristics and accordingly, a confined number of models are selected and described. Subsequently, a practical typology is proposed, existing of energy system evolution, optimisation, simulation, accounting and integration models, and key model features are compared. Finally, important features for a business park energy model are identified. - Highlights: • A holistic perspective on (low carbon) business park energy systems is introduced. • A new categorisation of techno-economic energy models is proposed. • Model characteristics are described per model category. • Essential model features for business park energy system modelling are identified. • A strategy towards a techno-economic energy model for business parks is proposed

  4. Simulating Quantile Models with Applications to Economics and Management

    Science.gov (United States)

    Machado, José A. F.

    2010-05-01

    The massive increase in the speed of computers over the past forty years changed the way that social scientists, applied economists and statisticians approach their trades and also the very nature of the problems that they could feasibly tackle. The new methods that use intensively computer power go by the names of "computer-intensive" or "simulation". My lecture will start with bird's eye view of the uses of simulation in Economics and Statistics. Then I will turn out to my own research on uses of computer- intensive methods. From a methodological point of view the question I address is how to infer marginal distributions having estimated a conditional quantile process, (Counterfactual Decomposition of Changes in Wage Distributions using Quantile Regression," Journal of Applied Econometrics 20, 2005). Illustrations will be provided of the use of the method to perform counterfactual analysis in several different areas of knowledge.

  5. Danish wind turbines: Technical-economic feasibility of commercial models

    International Nuclear Information System (INIS)

    Falchetta, M.

    1992-01-01

    This feasibility study examines the principal technical and economic (investment-manufacturing-installation-operation unit costs, supply and demand) characteristics of wind turbines being commercialized in Denmark. The general configuration of the 150 to 450 kW range machines currently being manufactured can be described as that of a three bladed fibreglass rotor, of from 24 to 35 meters in diameter, and mounted on a tower of from 29 to 41 meters in height. The electrical system consists of one asynchronous generator or a two generator system with a power ratio of 1 to 5 between the two generators. The cost analysis reveals that the Danish wind turbines are competitively priced, with per kWh costs varying from $0. 0675 to $0. 040 for operating wind speeds ranging from 5 to 7 m/sec, and that their overall design and performance characteristics make them suitable for Italian site conditions

  6. Adaptive institutions? Peasant institutions and natural models facing climatic and economic changes in the Colombian Andes

    NARCIS (Netherlands)

    Feola, Giuseppe

    2017-01-01

    In the Colombian Andes, peasants have co-evolved with their environment for centuries, but it is uncertain whether traditional informal institutions and natural models are adapting to current and possibly unprecedented economic and climatic disturbances. This study investigated institutional

  7. Differential ethnic associations between maternal flexibility and play sophistication in toddlers born very low birth weight

    Science.gov (United States)

    Erickson, Sarah J.; Montague, Erica Q.; Maclean, Peggy C.; Bancroft, Mary E.; Lowe, Jean R.

    2013-01-01

    Children born very low birth weight (development of self-regulation and effective functional skills, and play serves as an important avenue of early intervention. The current study investigated associations between maternal flexibility and toddler play sophistication in Caucasian, Spanish speaking Hispanic, English speaking Hispanic, and Native American toddlers (18-22 months adjusted age) in a cross-sectional cohort of 73 toddlers born VLBW and their mothers. We found that the association between maternal flexibility and toddler play sophistication differed by ethnicity (F(3,65) = 3.34, p = .02). In particular, Spanish speaking Hispanic dyads evidenced a significant positive association between maternal flexibility and play sophistication of medium effect size. Results for Native Americans were parallel to those of Spanish speaking Hispanic dyads: the relationship between flexibility and play sophistication was positive and of small-medium effect size. Findings indicate that for Caucasians and English speaking Hispanics, flexibility evidenced a non-significant (negative and small effect size) association with toddler play sophistication. Significant follow-up contrasts revealed that the associations for Caucasian and English speaking Hispanic dyads were significantly different from those of the other two ethnic groups. Results remained unchanged after adjusting for the amount of maternal language, an index of maternal engagement and stimulation; and after adjusting for birth weight, gestational age, gender, test age, cognitive ability, as well maternal age, education, and income. Our results provide preliminary evidence that ethnicity and acculturation may mediate the association between maternal interactive behavior such as flexibility and toddler developmental outcomes, as indexed by play sophistication. Addressing these association differences is particularly important in children born VLBW because interventions targeting parent interaction strategies such as

  8. Characterizing economic trends by Bayesian stochastic model specifi cation search

    OpenAIRE

    Grassi, Stefano; Proietti, Tommaso

    2010-01-01

    We apply a recently proposed Bayesian model selection technique, known as stochastic model specification search, for characterising the nature of the trend in macroeconomic time series. We illustrate that the methodology can be quite successfully applied to discriminate between stochastic and deterministic trends. In particular, we formulate autoregressive models with stochastic trends components and decide on whether a specific feature of the series, i.e. the underlying level and/or the rate...

  9. MODEL PENENTUAN HARGA SAHAM: PENGUJIAN CAPITAL ASSET PRICING MODEL MELALUI PENGUJIAN ECONOMIC VALUE ADDED

    Directory of Open Access Journals (Sweden)

    Suripto Suripto

    2017-03-01

    Full Text Available This research tested the influence of characteristics of the firms and of EVA (Eco-nomic Value Added to stock of returns. This Research sample was company Self-100 ValueCreator of year 2001 until 2006. Result of research indicated that company size measure,profitability, capital structure (characteristics of the firms and EVA by stimulant had aneffect on significant to stock of returns, but by partial only characteristics company. Condi-tion of company fundamentals had an effect on significance to stock of returns. This indica-tion that investor still considered factors of fundamentals was having investment. EVA didnot have an effect on significant to stock of returns. This finding indicated that Model deter-mination of stock of returns (CAPM Irrelevant determined the level of EVA and also indicatedthat CAPM (Capital Assets Pricing Model was not relevant in determining stock of returns inIndonesian Stock Exchange.

  10. Cognitive ability rivals the effect of political sophistication on ideological voting

    DEFF Research Database (Denmark)

    Hebbelstrup Rye Rasmussen, Stig

    2016-01-01

    This article examines the impact of cognitive ability on ideological voting. We find, using a US sample and a Danish sample, that the effect of cognitive ability rivals the effect of the traditionally strongest predicter of ideological voting political sophistication. Furthermore, the results...... are consistent with the effect of cognitive ability being partly mediated by political sophistication. Much of the effect of cognitive ability remains however and is not explained by differences in education or Openness to experience either. The implications of these results for democratic theory are discussed....

  11. Jobs and Economic Development Impact (JEDI) Model: Offshore Wind User Reference Guide

    Energy Technology Data Exchange (ETDEWEB)

    Lantz, E.; Goldberg, M.; Keyser, D.

    2013-06-01

    The Offshore Wind Jobs and Economic Development Impact (JEDI) model, developed by NREL and MRG & Associates, is a spreadsheet based input-output tool. JEDI is meant to be a user friendly and transparent tool to estimate potential economic impacts supported by the development and operation of offshore wind projects. This guide describes how to use the model as well as technical information such as methodology, limitations, and data sources.

  12. Links between fluid mechanics and quantum mechanics: a model for information in economics?

    Science.gov (United States)

    Haven, Emmanuel

    2016-05-28

    This paper tallies the links between fluid mechanics and quantum mechanics, and attempts to show whether those links can aid in beginning to build a formal template which is usable in economics models where time is (a)symmetric and memory is absent or present. An objective of this paper is to contemplate whether those formalisms can allow us to model information in economics in a novel way. © 2016 The Author(s).

  13. A Dynamic Economic Model with Discrete Time and Consumer Sentiment

    Directory of Open Access Journals (Sweden)

    L. I. Dobrescu

    2009-01-01

    is replaced by a (quasi periodic motion. We associate the difference stochastic equation to the model by randomizing the control parameter d and by adding one stochastic control. Numerical simulations are made for the deterministic and stochastic models, for different values of the control parameter d.

  14. Computer model for economic study of unbleached kraft paperboard production

    Science.gov (United States)

    Peter J. Ince

    1984-01-01

    Unbleached kraft paperboard is produced from wood fiber in an industrial papermaking process. A highly specific and detailed model of the process is presented. The model is also presented as a working computer program. A user of the computer program will provide data on physical parameters of the process and on prices of material inputs and outputs. The program is then...

  15. Energy demand analytics using coupled technological and economic models

    Science.gov (United States)

    Impacts of a range of policy scenarios on end-use energy demand are examined using a coupling of MARKAL, an energy system model with extensive supply and end-use technological detail, with Inforum LIFT, a large-scale model of the us. economy with inter-industry, government, and c...

  16. JEDI: Jobs and Economic Development Impact Model; NREL (National Renewable Energy Laboratory)

    Energy Technology Data Exchange (ETDEWEB)

    None

    2015-08-01

    The Jobs and Economic Development Impact (JEDI) models are user-friendly tools that estimate the economic impacts of constructing and operating power generation and biofuel plants at the local (usually state) level. First developed by NREL’s researchers to model wind energy jobs and impacts, JEDI has been expanded to also estimate the economic impacts of biofuels, coal, conventional hydro, concentrating solar power, geothermal, marine and hydrokinetic power, natural gas, photovoltaics, and transmission lines. This fact sheet focuses on JEDI for wind energy projects.

  17. A Mathematical Model of Economic Population Dynamics in a Country That Has Optimal Zakat Management

    Science.gov (United States)

    Subhan, M.

    2018-04-01

    Zakat is the main tools against two issues in Islamic economy: economic justice and helping the poor. However, no government of Islamic countries can solve the economic disparity today. A mathematical model could give some understanding about this phenomenon. The goal of this research is to obtain a mathematical model that can describe the dynamic of economic group population. The research is theoretical based on relevance references. From the analytical and numerical simulation, we conclude that well-manage zakat and full comitment of the wealthy can achieve wealth equilibrium that represents minimum poverty.

  18. Replicating Health Economic Models: Firm Foundations or a House of Cards?

    Science.gov (United States)

    Bermejo, Inigo; Tappenden, Paul; Youn, Ji-Hee

    2017-11-01

    Health economic evaluation is a framework for the comparative analysis of the incremental health gains and costs associated with competing decision alternatives. The process of developing health economic models is usually complex, financially expensive and time-consuming. For these reasons, model development is sometimes based on previous model-based analyses; this endeavour is usually referred to as model replication. Such model replication activity may involve the comprehensive reproduction of an existing model or 'borrowing' all or part of a previously developed model structure. Generally speaking, the replication of an existing model may require substantially less effort than developing a new de novo model by bypassing, or undertaking in only a perfunctory manner, certain aspects of model development such as the development of a complete conceptual model and/or comprehensive literature searching for model parameters. A further motivation for model replication may be to draw on the credibility or prestige of previous analyses that have been published and/or used to inform decision making. The acceptability and appropriateness of replicating models depends on the decision-making context: there exists a trade-off between the 'savings' afforded by model replication and the potential 'costs' associated with reduced model credibility due to the omission of certain stages of model development. This paper provides an overview of the different levels of, and motivations for, replicating health economic models, and discusses the advantages, disadvantages and caveats associated with this type of modelling activity. Irrespective of whether replicated models should be considered appropriate or not, complete replicability is generally accepted as a desirable property of health economic models, as reflected in critical appraisal checklists and good practice guidelines. To this end, the feasibility of comprehensive model replication is explored empirically across a small

  19. A review of typhoid fever transmission dynamic models and economic evaluations of vaccination.

    Science.gov (United States)

    Watson, Conall H; Edmunds, W John

    2015-06-19

    Despite a recommendation by the World Health Organization (WHO) that typhoid vaccines be considered for the control of endemic disease and outbreaks, programmatic use remains limited. Transmission models and economic evaluation may be informative in decision making about vaccine programme introductions and their role alongside other control measures. A literature search found few typhoid transmission models or economic evaluations relative to analyses of other infectious diseases of similar or lower health burden. Modelling suggests vaccines alone are unlikely to eliminate endemic disease in the short to medium term without measures to reduce transmission from asymptomatic carriage. The single identified data-fitted transmission model of typhoid vaccination suggests vaccines can reduce disease burden substantially when introduced programmatically but that indirect protection depends on the relative contribution of carriage to transmission in a given setting. This is an important source of epidemiological uncertainty, alongside the extent and nature of natural immunity. Economic evaluations suggest that typhoid vaccination can be cost-saving to health services if incidence is extremely high and cost-effective in other high-incidence situations, when compared to WHO norms. Targeting vaccination to the highest incidence age-groups is likely to improve cost-effectiveness substantially. Economic perspective and vaccine costs substantially affect estimates, with disease incidence, case-fatality rates, and vaccine efficacy over time also important determinants of cost-effectiveness and sources of uncertainty. Static economic models may under-estimate benefits of typhoid vaccination by omitting indirect protection. Typhoid fever transmission models currently require per-setting epidemiological parameterisation to inform their use in economic evaluation, which may limit their generalisability. We found no economic evaluation based on transmission dynamic modelling, and no

  20. The use of geographical information systems in socio-economic studies

    OpenAIRE

    Daplyn, P.; Cropley, J.; Treagust, S.; Gordon, A.

    1994-01-01

    Geographical information systems (GIS) have found wide and growing applications, as digital remote-sensing data and computer technology have become more sophisticated, more easily available and less expensive. NRI recently undertook preliminary research into potential socio-economic applications of GIS. The feasibility of utilizing spatial data, available in GIS, to model socio-economic relationships was examined. It included the following steps: (a) identification of hypothetical relationshi...

  1. Evidence for the credibility of health economic models for health policy decision-making

    DEFF Research Database (Denmark)

    Søgaard, Rikke; Lindholt, Jes S.

    2012-01-01

    OBJECTIVE: To investigate whether the credibility of health economic models of screening for abdominal aortic aneurysms for health policy decision-making has improved since 2005 when a systematic review by Campbell et al. concluded that reporting standards were poor and there was divergence between...... benefited from general advances in health economic modelling and some improvements in reporting were noted. However, the low level of agreement between studies in model structures and assumptions, and difficulty in justifying these (convergent validity), remain a threat to the credibility of health economic...... models. Decision-makers should not accept the results of a modelling study if the methods are not fully transparent and justified. Modellers should, whenever relevant, supplement a primary report of results with a technical report detailing and discussing the methodological choices made....

  2. ADVISHE: A new tool to report validation of health-economic decision models

    NARCIS (Netherlands)

    Vemer, P.; Corro Ramos, I.; Van Voorn, G.; Al, M.J.; Feenstra, T.L.

    2014-01-01

    Background: Modelers and reimbursement decision makers could both profit from a more systematic reporting of the efforts to validate health-economic (HE) models. Objectives: Development of a tool to systematically report validation efforts of HE decision models and their outcomes. Methods: A gross

  3. THE INSTANTANEOUS SPEED OF ADJUSTMENT ASSUMPTION AND STABILITY OF ECONOMIC-MODELS

    NARCIS (Netherlands)

    SCHOONBEEK, L

    In order to simplify stability analysis of an economic model one can assume that one of the model variables moves infinitely fast towards equilibrium, given the values of the other slower variables. We present conditions such that stability of the simplified model implies, or is implied by,

  4. Sophisticated Online Learning Scheme for Green Resource Allocation in 5G Heterogeneous Cloud Radio Access Networks

    KAUST Repository

    Alqerm, Ismail

    2018-01-23

    5G is the upcoming evolution for the current cellular networks that aims at satisfying the future demand for data services. Heterogeneous cloud radio access networks (H-CRANs) are envisioned as a new trend of 5G that exploits the advantages of heterogeneous and cloud radio access networks to enhance spectral and energy efficiency. Remote radio heads (RRHs) are small cells utilized to provide high data rates for users with high quality of service (QoS) requirements, while high power macro base station (BS) is deployed for coverage maintenance and low QoS users service. Inter-tier interference between macro BSs and RRHs and energy efficiency are critical challenges that accompany resource allocation in H-CRANs. Therefore, we propose an efficient resource allocation scheme using online learning, which mitigates interference and maximizes energy efficiency while maintaining QoS requirements for all users. The resource allocation includes resource blocks (RBs) and power. The proposed scheme is implemented using two approaches: centralized, where the resource allocation is processed at a controller integrated with the baseband processing unit and decentralized, where macro BSs cooperate to achieve optimal resource allocation strategy. To foster the performance of such sophisticated scheme with a model free learning, we consider users\\' priority in RB allocation and compact state representation learning methodology to improve the speed of convergence and account for the curse of dimensionality during the learning process. The proposed scheme including both approaches is implemented using software defined radios testbed. The obtained results and simulation results confirm that the proposed resource allocation solution in H-CRANs increases the energy efficiency significantly and maintains users\\' QoS.

  5. Sustainable innovation, business models and economic performance: an overview

    NARCIS (Netherlands)

    Montalvo Corral, C.

    2013-01-01

    Sustainable development requires radical and systemic innovations. Such innovations can be more effectively created and studied when building on the concept of business models. This concept provides firms with a holistic framework to envision and implement sustainable innovations. For researchers,

  6. WASTES: a waste management logistics/economics model

    International Nuclear Information System (INIS)

    McNair, G.W.; Shay, M.R.; Fletcher, J.F.; Cashwell, J.W.

    1985-02-01

    The WASTES model simulates a user defined system for nuclear waste transportation and storage at both temporary and long-term storage facilities. The model is written in FORTRAN 77 as an extension to the SLAM commercial simulation package (Pritsker and Pegden 1979). SLAM (Simulation Language for Alternative Modeling) is utilized in a discrete event mode to model the passage of spent fuel through the system. The system is initiated with individual reactor discharges of spent fuel as described in the reactor discharge data file or as supplied by the user. The reactor discharge file contains deterministic information on the date (year/month) and quantity of spent fuel discharges. From this point, the model is controlled by a combination of source originated and destination originated transfers. Source driven transfers occur when a reactor pool violates the full core reserve (FCR) storage margin or when the reactor is decommissioned. At these times, the source reactor checks destination facilities to see if they can accept material. A dry storage facility is assumed to exist for each reactor and is allowed to grow as necessary to contain spent fuel which cannot be shipped to any other facility. In this way the FCR margin is always maintained. Destination driven transfers occur when the annual capacity of a facility will not be met by full core reserve or decommissioning shipments. An attempt is made at the end of each calendar year to schedule enough shipments of spent fuel from facilities with non-critical storage capacity to fill the annual capacity of each destination facility. Allowable facility types are reprocessing plants, federal interim storage (FIS), monitored retrievable storage (MRS), and repositories. The number, capacities, location and priority for receipt of spent fuel is user specified. This report describes in detail the waste generating model, the waste facilities model, the transportation model and the basic transportation scheme

  7. The Victim Handling Model of Human Trafficking Through Economic Independence

    OpenAIRE

    Nuraeny, Henny; Utami, Tanti Kirana

    2016-01-01

    Human Trafficking is a modern trading of human slavery. Human Trafficking is also one of the worst forms of violation of human dignity that results in trauma to the victims. To that end, there should be a comprehensive treatment for victims. The problems that can be studied is whether a model that can be applied in the treatment of victims of trafficking in Cianjur and disseminating technical how models Handling of Victims of Human Trafficking in Cianjur. This study used normative juridical a...

  8. Integrated modelling of economic-energy-environment scenarios - The impact of China and India's economic growth on energy use and CO2 emissions

    International Nuclear Information System (INIS)

    Roques, F.; Sassi, O.; Guivarch, C.; Waisman, H.; Crassous, R.; Hourcade, J.Ch.

    2009-03-01

    A hybrid framework coupling the bottom-up energy sector WEM model with the top-down general equilibrium model IMACLIM-R is implemented to capture the macro-economic feedbacks of Chinese and Indian economic growth on energy and emissions scenarios. The iterative coupling procedure captures the detailed representation of energy use and supply while ensuring the micro-economic and macro-economic consistency of the different scenarios studied. The dual representation of the hybrid model facilitates the incorporation of energy sector expertise in internally consistent scenarios. The paper describes how the hybrid model was used to assess the effect of uncertainty on economic growth in China and India in the energy and emissions scenarios of the International Energy Agency. (authors)

  9. The Model of Optimum Economic Growth with the Induced Scientific-Technological Progress

    Directory of Open Access Journals (Sweden)

    Dilenko Viktor A.

    2017-07-01

    Full Text Available On the basis of the economic dynamics of the Harrod – Domar model, a model of optimum economic growth in line with the induced scientific-technological progress (STP has been built. In order to reflect the induced scientific-technological progress, with this model is proposed to further allocate the income element that is specially used for the investment of innovation activity, implementation of which reduces the capital intensity in development of the discussed economy. For the simplest way of presenting an economic mechanism for the investment of induced STP, analytical solutions of an appropriate task in optimum management have been obtained. Studying these decisions allowed to reveal the characteristics of the impact of parameters of scientific-technological progress and the analyzed economic system on choosing the best trajectory for its evolution. Possible directions for further developing the results presented can be considered the tasks in building and analyzing models of optimum economic growth that implement different investment options for the induced STP, as well as the models in which this investment mechanism is not exogenouslyed, but rather the result of the corresponding economic-mathematical research.

  10. User Guide for the International Jobs and Economic Development Impacts Model

    Energy Technology Data Exchange (ETDEWEB)

    Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Flores-Espino, Francisco [National Renewable Energy Lab. (NREL), Golden, CO (United States); Uriarte, Caroline [National Renewable Energy Lab. (NREL), Golden, CO (United States); Cox, Sadie [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-09-01

    The International Jobs and Economic Development Impacts (I-JEDI) model is a freely available economic model that estimates gross economic impacts from wind, solar, and geothermal energy projects for several different countries. Building on the original JEDI model, which was developed for the United States, I-JEDI was developed under the USAID Enhancing Capacity for Low Emission Development Strategies (EC-LEDS) program to support countries in assessing economic impacts of LEDS actions in the energy sector. I-JEDI estimates economic impacts by characterizing the construction and operation of energy projects in terms of expenditures and the portion of these expenditures made within the country of analysis. These data are then used in a country-specific input-output (I-O) model to estimate employment, earnings, gross domestic product (GDP), and gross output impacts. Total economic impacts are presented as well as impacts by industry. This user guide presents general information about how to use I-JEDI and interpret results as well as detailed information about methodology and model limitations.

  11. System dynamics modelling and simulating the effects of intellectual capital on economic growth

    Directory of Open Access Journals (Sweden)

    Ivona Milić Beran

    2015-10-01

    Full Text Available System dynamics modelling is one of the best scientific methods for modelling complex, nonlinear natural, economic and technical system dynamics as it enables both monitoring and assessment of the effects of intellectual capital on economic growth. Intellectual capital is defined as “the ability to transform knowledge and intangible assets into resources to create wealth for a company and a country.” Transformation of knowledge is crucial. Knowledge increases a country’s wealth only if its importance is recognized and applied differently from existing work practices. The aim of this paper is to show the efficiency of modelling system dynamics and simulating the effects of intellectual capital on economic growth. A computer simulation provided a mathematical model, providing practical insight into the dynamic behavior of the observed system, i.e. the analysis of economic growth and observation of mutual correlation between individual parameters. The results of the simulation are presented in graphical form. The dynamic model of the effects of intellectual capital on Croatia’s economic growth has been verified by comparing simulation results with existing data on economic growth.

  12. Using ecosystem services to represent the environment in hydro-economic models

    Science.gov (United States)

    Momblanch, Andrea; Connor, Jeffery D.; Crossman, Neville D.; Paredes-Arquiola, Javier; Andreu, Joaquín

    2016-07-01

    Demand for water is expected to grow in line with global human population growth, but opportunities to augment supply are limited in many places due to resource limits and expected impacts of climate change. Hydro-economic models are often used to evaluate water resources management options, commonly with a goal of understanding how to maximise water use value and reduce conflicts among competing uses. The environment is now an important factor in decision making, which has resulted in its inclusion in hydro-economic models. We reviewed 95 studies applying hydro-economic models, and documented how the environment is represented in them and the methods they use to value environmental costs and benefits. We also sought out key gaps and inconsistencies in the treatment of the environment in hydro-economic models. We found that representation of environmental values of water is patchy in most applications, and there should be systematic consideration of the scope of environmental values to include and how they should be valued. We argue that the ecosystem services framework offers a systematic approach to identify the full range of environmental costs and benefits. The main challenges to more holistic representation of the environment in hydro-economic models are the current limits to understanding of ecological functions which relate physical, ecological and economic values and critical environmental thresholds; and the treatment of uncertainty.

  13. Economic modeling of surgical disease: a measure of public health interventions.

    Science.gov (United States)

    Corlew, D Scott

    2013-07-01

    The measurement of the burden of disease and the interventions that address that burden can be done in various units. Reducing these measures to the common denominator of economic units (i.e., currency) enables comparison with other health entities, interventions, and even other fields. Economic assessment is complex, however, because of the multifactorial components of what constitutes health and what constitutes health interventions, as well as the coupling of those data to economic means. To perform economic modeling in a meaningful manner, it is necessary to: (1) define the health problem to be addressed; (2) define the intervention to be assessed; (3) define a measure of the effect of the health entity with and without the intervention (which includes defining the counterfactual); and (4) determine the appropriate method of converting the health effect to economics. This paper discusses technical aspects of how economic modeling can be done both of disease entities and of interventions. Two examples of economic modeling applied to surgical problems are then given.

  14. Telepsychiatry as an Economically Better Model for Reaching the Unreached: A Retrospective Report from South India.

    Science.gov (United States)

    Moirangthem, Sydney; Rao, Sabina; Kumar, Channaveerachari Naveen; Narayana, Manjunatha; Raviprakash, Neelaveni; Math, Suresh Bada

    2017-01-01

    In a resource-poor country such as India, telepsychiatry could be an economical method to expand health-care services. This study was planned to compare the costing and feasibility of three different service delivery models. The end user was a state-funded long-stay Rehabilitation Center (RC) for the homeless. Model A comprised patients going to a tertiary care center for clinical care, Model B was community outreach service, and Model C comprised telepsychiatry services. The costing included expenses incurred by the health system to complete a single consultation for a patient on an outpatient basis. It specifically excluded the cost borne by the care-receiver. No patients were interviewed for the study. The RC had 736 inmates, of which 341 had mental illness of very long duration. On comparing the costing, Model A costed 6047.5 INR (100$), Model B costed 577.1 INR (9.1$), and Model C costed 137.2 INR (2.2$). Model C was found fifty times more economical when compared to Model A and four times more economical when compared to Model B. Telepsychiatry services connecting tertiary center and a primary health-care center have potential to be an economical model of service delivery compared to other traditional ones. This resource needs to be tapped in a better fashion to reach the unreached.

  15. Assessing Epistemic Sophistication by Considering Domain-Specific Absolute and Multiplicistic Beliefs Separately

    Science.gov (United States)

    Peter, Johannes; Rosman, Tom; Mayer, Anne-Kathrin; Leichner, Nikolas; Krampen, Günter

    2016-01-01

    Background: Particularly in higher education, not only a view of science as a means of finding absolute truths (absolutism), but also a view of science as generally tentative (multiplicism) can be unsophisticated and obstructive for learning. Most quantitative epistemic belief inventories neglect this and understand epistemic sophistication as…

  16. Reacting to Neighborhood Cues?: Political Sophistication Moderates the Effect of Exposure to Immigrants

    DEFF Research Database (Denmark)

    Danckert, Bolette; Dinesen, Peter Thisted; Sønderskov, Kim Mannemar

    2017-01-01

    is founded on politically sophisticated individuals having a greater comprehension of news and other mass-mediated sources, which makes them less likely to rely on neighborhood cues as sources of information relevant for political attitudes. Based on a unique panel data set with fine-grained information...

  17. Sophistic Ethics in the Technical Writing Classroom: Teaching "Nomos," Deliberation, and Action.

    Science.gov (United States)

    Scott, J. Blake

    1995-01-01

    Claims that teaching ethics is particularly important to technical writing. Outlines a classical, sophistic approach to ethics based on the theories and pedagogies of Protagoras, Gorgias, and Isocrates, which emphasizes the Greek concept of "nomos," internal and external deliberation, and responsible action. Discusses problems and…

  18. Close to the Clothes : Materiality and Sophisticated Archaism in Alexander van Slobbe’s Design Practices

    NARCIS (Netherlands)

    Baronian, M.-A.

    This article looks at the work of contemporary Dutch fashion designer Alexander van Slobbe (1959) and examines how, since the 1990s, his fashion practices have consistently and consciously put forward a unique reflection on questions related to materiality, sophisticated archaism, luxury,

  19. Close to the Clothes: Materiality and Sophisticated Archaism in Alexander van Slobbe’s Design Practices

    NARCIS (Netherlands)

    Baronian, M.-A.

    This article looks at the work of contemporary Dutch fashion designer Alexander van Slobbe (1959) and examines how, since the 1990s, his fashion practices have consistently and consciously put forward a unique reflection on questions related to materiality, sophisticated archaism, luxury,

  20. Lexical Complexity Development from Dynamic Systems Theory Perspective: Lexical Density, Diversity, and Sophistication

    Directory of Open Access Journals (Sweden)

    Reza Kalantari

    2017-10-01

    Full Text Available This longitudinal case study explored Iranian EFL learners’ lexical complexity (LC through the lenses of Dynamic Systems Theory (DST. Fifty independent essays written by five intermediate to advanced female EFL learners in a TOEFL iBT preparation course over six months constituted the corpus of this study. Three Coh-Metrix indices (Graesser, McNamara, Louwerse, & Cai, 2004; McNamara & Graesser, 2012, three Lexical Complexity Analyzer indices (Lu, 2010, 2012; Lu & Ai, 2011, and four Vocabprofile indices (Cobb, 2000 were selected to measure different dimensions of LC. Results of repeated measures analysis of variance (RM ANOVA indicated an improvement with regard to only lexical sophistication. Positive and significant relationships were found between time and mean values in Academic Word List and Beyond-2000 as indicators of lexical sophistication. The remaining seven indices of LC, falling short of significance, tended to flatten over the course of this writing program. Correlation analyses among LC indices indicated that lexical density enjoyed positive correlations with lexical sophistication. However, lexical diversity revealed no significant correlations with both lexical density and lexical sophistication. This study suggests that DST perspective specifies a viable foundation for analyzing lexical complexity

  1. Introducing formalism in economics: The growth model of John von Neumann

    Directory of Open Access Journals (Sweden)

    Gloria-Palermo Sandye

    2010-01-01

    Full Text Available The objective is to interpret John von Neumann's growth model as a decisive step of the forthcoming formalist revolution of the 1950s in economics. This model gave rise to an impressive variety of comments about its classical or neoclassical underpinnings. We go beyond this traditional criterion and interpret rather this model as the manifestation of von Neumann's involvement in the formalist programme of mathematician David Hilbert. We discuss the impact of Kurt Gödel's discoveries on this programme. We show that the growth model reflects the pragmatic turn of the formalist programme after Gödel and proposes the extension of modern axiomatisation to economics.

  2. Privatization: The Use of Risk, Economic and Finance Models to Ensure Its Success

    International Nuclear Information System (INIS)

    Jaksch, John A.; Weimar, Mark R.; Young, Joan K.; Taylor, William J.; Furlong, Peter T.; Feldman, Roger D.; Diprinzio, Ray

    2001-01-01

    The article describes the use of risk, economic and financial models as they were used to help DOE in their decision-making processes on TWRS Privatization. The article describes how the models were used to allocate risk between the contractor and DOE, evaluate whether DOE should accept certain risk allocations, how the economic and financial models were used to evaluate whether the government was receiving the best bid price and whether any money was being saved by using privatization, and evaluated alternative financing schemes. The paper also describes how the financial model was used to evaluate and negotiate the pricing structure which became a part of the contract.

  3. Integrating Economic Models with Biophysical Models in the Willamette Water 2100 Project

    Science.gov (United States)

    Jaeger, W. K.; Plantinga, A.

    2013-12-01

    This paper highlights the human system modeling components for Willamette Water 2100, a comprehensive, highly integrated study of hydrological, ecological, and human factors affecting water scarcity in the Willamette River Basin (WRB). The project is developing a spatiotemporal simulation model to predict future trajectories of water scarcity, and to evaluate mitigation policies. Economic models of land use and water use are the main human system models in WW2100. Water scarcity depends on both supply and demand for water, and varies greatly across time and space (Jaeger et al., 2013). Thus, the locations of human water use can have enormous influence on where and when water is used, and hence where water scarcity may arise. Modeling the locations of human uses of water (e.g., urban versus agricultural) as well as human values and choices, are the principal quantitative ways that social science can contribute to research of this kind. Our models are empirically-based models of human resource allocation. Each model reflects private behavior (choices by households, farms, firms), institutions (property rights, laws, markets, regulations), public infrastructure (dams, canals, highways), and also 'external drivers' that influence the local economy (migration, population growth, national markets and policies). This paper describes the main model components, emphasizing similarities between human and biophysical components of the overall project, and the model's linkages and feedbacks relevant to our predictions of changes in water scarcity between now and 2100. Results presented include new insights from individual model components as well as available results from the integrated system model. Issues include water scarcity and water quality (temperature) for out-of-stream and instream uses, the impact of urban expansion on water use and potential flood damage. Changes in timing and variability of spring discharge with climate change, as well as changes in human uses of

  4. Mathematical-statistical models and qualitative theories for economic and social sciences

    CERN Document Server

    Maturo, Fabrizio; Kacprzyk, Janusz

    2017-01-01

    This book presents a broad spectrum of problems related to statistics, mathematics, teaching, social science, and economics as well as a range of tools and techniques that can be used to solve these problems. It is the result of a scientific collaboration between experts in the field of economic and social systems from the University of Defence in Brno (Czech Republic), G. d’Annunzio University of Chieti-Pescara (Italy), Pablo de Olavid eUniversity of Sevilla (Spain), and Ovidius University in Constanţa, (Romania). The studies included were selected using a peer-review process and reflect heterogeneity and complexity of economic and social phenomena. They and present interesting empirical research from around the globe and from several research fields, such as statistics, decision making, mathematics, complexity, psychology, sociology and economics. The volume is divided into two parts. The first part, “Recent trends in mathematical and statistical models for economic and social sciences”, collects pap...

  5. A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time

    Directory of Open Access Journals (Sweden)

    Wei-Bin Zhang

    2009-01-01

    Full Text Available This paper proposes a one-sector multigroup growth model with endogenous labor supply in discrete time. Proposing an alternative approach to behavior of households, we examine the dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. We show how human capital levels, preferences, and labor force of heterogeneous households determine the national economic growth, wealth, and income distribution and time allocation of the groups. By simulation we demonstrate, for instance, that in the three-group economy when the rich group's human capital is improved, all the groups will economically benefit, and the leisure times of all the groups are reduced but when any other group's human capital is improved, the group will economically benefit, the other two groups economically lose, and the leisure times of all the groups are increased.

  6. Integrated economic model of waste management: Case study for South Moravia region

    Directory of Open Access Journals (Sweden)

    Jiří Hřebíček

    2013-01-01

    Full Text Available The paper introduces and discusses the developed integrated economic model of municipal waste management of the Czech Republic, which was developed by authors as a balanced network model for a set of sources (mostly municipalities of municipal solid waste connected with a set of chosen waste treatment facilities processing their waste. Model is implemented as a combination of several economic submodels including environmental and economic point of view. It enables to formulate the optimisation problem in a concise way and the resulting model is easily scalable. Model involves submodels of waste prevention, collection and transport optimization, submodels of waste energy utilization (incineration and biogas plants and material recycling (composting and submodel of landfilling. Its size (number of sources and facilities depends only upon available data. Its application is used in the case study of the South Moravia region with verification of using time series waste data. The results enable to improve decision making in waste management sector.

  7. Modelling the economic tradeoffs between allocating water for crop ...

    African Journals Online (AJOL)

    2009-06-05

    Jun 5, 2009 ... for crop production or leaching for salinity management ... reduce the area irrigated under limited water supply conditions in .... same as ECe because the concentration of salts in the soil is .... to-scale (VRS) (Banker et al., 1984) DEA model. ... ensures that the interpolated input used for the reference units.

  8. INTEGRATION OF AN ECONOMIC WITH AN ECOLOGICAL MODEL

    Science.gov (United States)

    We summarize our work on integration of an economy under imperfect competition with a simple Lotka-Volterra type ecological model. Firms and households operate within a single period planning horizon, thus there is no savings or investment. Wages are set by a dominant employer. P...

  9. Modelling the economic trade-offs of irrigation pipeline investments ...

    African Journals Online (AJOL)

    The Soil Water Irrigation Planning and Energy Management (SWIP-E) mathematical programming model was developed and applied in this paper to provide decision support regarding the optimal mainline pipe diameter, irrigation system delivery capacity and size of the irrigation system. SWIP-E unifies the interrelated ...

  10. A Schumpeterian Model of Entrepreneurship, Innovation, and Regional Economic Growth

    NARCIS (Netherlands)

    Batabyal, A.; Nijkamp, P.

    2012-01-01

    The authors provide the first theoretical analysis of a one-sector, discrete-time, Schumpeterian model of growth in a regional economy in which consumers are risk neutral, there is no population growth, monopolistic entrepreneurs produce intermediate goods, and a single consumption good is produced

  11. WASTES: a waste management logistics/economics model

    International Nuclear Information System (INIS)

    McNair, G.W.; Shay, M.R.; Fletcher, J.F.; Cashwell, J.W.

    1985-01-01

    The WASTES logistics model is a simulation language based model for analyzing the logistic flow of spent fuel/nuclear waste throughout the waste management system. The model tracks the movement of spent fuel/nuclear waste from point of generation to final destination. The model maintains inventories of spent fuel/nuclear waste at individual reactor sites as well as at various facilities within the waste management system. A maximum of 14 facilities may be utilized within a single run. These 14 facilities may include any combination of the following facilities: (1) federal interim storage (FIS), (2) reprocessing (REP), (3) monitored retrievable storage (MRS), (4) geological disposal facilities (GDF). The movement of spent fuel/nuclear waste between these facilities is controlled by the user specification of loading and unloading rates, annual and maximum capacities and commodity characteristics (minimum age or heat constraints) for each individual facility. In addition, the user may specify varying levels of priority on the spent fuel/nuclear waste that will be eligible for movement within a given year. These levels of priority allow the user to preferentially move spent fuel from reactor sites that are experiencing a loss of full-core-reserve (FCR) margin in a given year or from reactors that may be in the final stages of decommissioning. The WASTES model utilizes the reactor specific data available from the PNL spent fuel database. This database provides reactor specific information on items such as spent fuel basin size, reactor location, and transportation cask preference (i.e., rail or truck cask). In addition, detailed discharge data is maintained that provides the number of assemblies, metric tons, and exposure for both historic and projected discharges at each reactor site

  12. Using an Integrated Hydrologic-Economic Model to Develop Minimum Cost Water Supply Portfolios and Manage Supply Risk

    Science.gov (United States)

    Characklis, G. W.; Ramsey, J.

    2004-12-01

    Water scarcity has become a reality in many areas as a result of population growth, fewer available sources, and reduced tolerance for the environmental impacts of developing the new supplies that do exist. As a result, successfully managing future water supply risk will become more dependent on coordinating the use of existing resources. Toward that end, flexible supply strategies that can rapidly respond to hydrologic variability will provide communities with increasing economic advantages, particularly if the frequency of more extreme events (e.g., drought) increases due to global climate change. Markets for established commodities (e.g., oil, gas) often provide a framework for efficiently responding to changes in supply and demand. Water markets, however, have remained relatively crude, with most transactions involving permanent transfers and long regulatory processes. Recently, interest in the use of flexible short-term transfers (e.g., leases, options) has begun to motivate consideration of more sophisticated strategies for managing supply risk, strategies similar to those used in more mature markets. In this case, communities can benefit from some of the advantages that water enjoys over other commodities, in particular, the ability to accurately characterize the stochastic nature of supply and demand through hydrologic modeling. Hydrologic-economic models are developed for two different water scarce regions supporting active water markets: Edward Aquifer and Lower Rio Grande Valley. These models are used to construct portfolios of water supply transfers (e.g., permanent transfers, options, and spot leases) that minimize the cost of meeting a probabilistic reliability constraint. Real and simulated spot price distributions allow each type of transfer to be priced in a manner consistent with financial theory (e.g., Black-Scholes). Market simulations are integrated with hydrologic models such that variability in supply and demand are linked with price behavior

  13. An Agent-Based Dynamic Model of Politics, Fertility and Economic Development

    Directory of Open Access Journals (Sweden)

    Zining Yang

    2016-08-01

    Full Text Available In the political economy of development, government policy choices at a single point in time can dramatically affect a country's development path by impacting fertility, economic and political decisions across generations. Combining system dynamics and agent-based modeling approaches in a complex adaptive system, a simulation framework of the Politics of Fertility and Economic Development (POFED is formalized to understand the relationship between politics, economic, and demography change at both macro and micro levels. First, a new political capacity measurement is used; and the system dynamics model is validated with the latest data. Second, the endogenous attributes are fused with non-cooperative game theory in an agent-based framework to simulate the interactive political economic dynamics of individual intra-societal transactions. Finally, macro and micro levels are connected with policy levers of political capacity and political instability by merging system dynamics and agent-based components. This paper also explores the agent-based model's behavioral dynamics via simulation methods to identify paths towards economic development and political stability. This model demonstrates micro level human agency can act, react and interact, thus driving macro level dynamics, while macro structures provide political, social and economic environments that constrain or incentivize micro level human behavior.

  14. A model for the calculation of the off-site economic consequences of nuclear reactor accidents

    International Nuclear Information System (INIS)

    Gallego, E.; Alonso, A.

    1988-01-01

    The off-site economic cost of nuclear reactor accidents will depend on the countermeasures adopted to reduce its radiological impact. The assessment of the direct costs of emergency countermeasures (evacuation, early relocation and food disposal) as well as those of long-term protective actions (food disposal, decontamination or interdiction) is the objective of a model under development, with the sponsorship of the CEC Radiation Protection Programme, called MECA (Model for assessing the Economic Consequences of Accidents). The meteorological and socio-economical peculiarities of each site studied will be taken into account, by means of a flexible meteorological sampling scheme, which considers the geographical distribution of population and economic centers, and a data-base, compatible with the existing European grid, that contains the population distribution and the economic characteristics of the environs of the site to be studied with more detail near the reactor. The paper summarizes the particular models which will be included in MECA and shows the importance of site-specific adaptable modelling for economic risk evaluation

  15. Economic Model Predictive Control for Smart Energy Systems

    DEFF Research Database (Denmark)

    Halvgaard, Rasmus

    Model Predictive Control (MPC) can be used to control the energy distribution in a Smart Grid with a high share of stochastic energy production from renewable energy sources like wind. Heat pumps for heating residential buildings can exploit the slow heat dynamics of a building to store heat and ...... and hereby shift the heat pump power consumption to periods with both low electricity prices and a high fraction of green energy in the grid.......Model Predictive Control (MPC) can be used to control the energy distribution in a Smart Grid with a high share of stochastic energy production from renewable energy sources like wind. Heat pumps for heating residential buildings can exploit the slow heat dynamics of a building to store heat...

  16. Tax Evasion and Economic Growth in an Endogenous Growth Model

    OpenAIRE

    加藤, 秀弥; KATO, Hideya

    2004-01-01

    This paper presents an endogenous growth model with tax evasion where government expenditures affect production. An individual evades a tax so as to maximize his or her utility, the tax authority controls the detection probability to maximize net tax revenue, and the government chooses the income tax rate to maximize individuals’ utility. The main conclusions are as follows. First, the optical income tax rate with tax evasion is higher than that without tax evasion. Second, the rise in a ...

  17. Do expert ratings or economic models explain champagne prices?

    DEFF Research Database (Denmark)

    Bentzen, Jan Børsen; Smith, Valdemar

    2008-01-01

    Champagne is bought with low frequency and many consumers most likely do not have or seek full information on the quality of champagne. Some consumers may rely on the reputation of particular brands, e.g. "Les Grandes Marques", some consumers choose to gain information from sensory ratings...... of champagne. The aim of this paper is to analyse the champagne prices on the Scandinavian markets by applying a hedonic price function in a comparative framework with minimal models using sensory ratings....

  18. Economic modelling of energy services: Rectifying misspecified energy demand functions

    International Nuclear Information System (INIS)

    Hunt, Lester C.; Ryan, David L.

    2015-01-01

    Although it is well known that energy demand is derived, since energy is required not for its own sake but for the energy services it produces – such as heating, lighting, and motive power – energy demand models, both theoretical and empirical, often fail to take account of this feature. In this paper, we highlight the misspecification that results from ignoring this aspect, and its empirical implications – biased estimates of price elasticities and other measures – and provide a relatively simple and empirically practicable way to rectify it, which has a strong theoretical grounding. To do so, we develop an explicit model of consumer behaviour in which utility derives from consumption of energy services rather than from the energy sources that are used to produce them. As we discuss, this approach opens up the possibility of examining many aspects of energy demand in a theoretically sound way that have not previously been considered on a widespread basis, although some existing empirical work could be interpreted as being consistent with this type of specification. While this formulation yields demand equations for energy services rather than for energy or particular energy sources, these are shown to be readily converted, without added complexity, into the standard type of energy demand equation(s) that is (are) typically estimated. The additional terms that the resulting energy demand equations include, compared to those that are typically estimated, highlight the misspecification that is implicit when typical energy demand equations are estimated. A simple solution for dealing with an apparent drawback of this formulation for empirical purposes, namely that information is required on typically unobserved energy efficiency, indicates how energy efficiency can be captured in the model, such as by including exogenous trends and/or including its possible dependence on past energy prices. The approach is illustrated using an empirical example that involves

  19. A Linked Hydro-Economic Model to Examine the Effects of Water Policy on Rural Poverty

    Science.gov (United States)

    Maneta, M. P.; Torres, M.; Vosti, S. A.; Wallender, W. W.; Howitt, R.; Rodrigues, L. N.; Bassoi, L. H.; Pfeiffer, L.; Young, J.

    2006-12-01

    The sustainable intensification of small-scale agriculture is a necessary condition for reducing rural poverty in developing countries. Increasing the amount of irrigated cropland and the economic efficiency of irrigation are two key components of most intensification strategies. Improved access to water generally increases farm income but richer farmers use a disproportionate share of the available water, decreasing the chances of poor farmers to meet their water needs. Furthermore, water and poverty have strong spatial components that have so far been neglected in water planning. In that sense, too little is known about the short and long term hydrological effects, especially the externality effects of changes in on-farm water use and its implications to nearby farmers. To address this gap in knowledge, a spatially distributed and transient description of changes in surface and groundwater allocation under different agricultural management scenarios is needed. We propose a hydro-economic model providing a realistic spatio-temporal description of the linkages between the economic and hydrologic subsystems. This hydro-economic model is composed of a basin-level 3D spatially distributed transient hydrologic model (MOD-HMS) and a farm-level, spatially distributed agricultural production model. Both models are explicitly linked through the boundary conditions of the hydrologic model. The linkage will account for the spatial and temporal impact of different crop mixes, irrigation techniques and groundwater pumpage on water availability at farm level to assess the effects of policy action on the hydro-economic components of the system.

  20. The Theoretical Basis of Modeling the Economic Mechanism of Intellectual Security of Enterprise

    Directory of Open Access Journals (Sweden)

    Puyda Halia V.

    2017-11-01

    Full Text Available The article is aimed at studying the existing scientific approaches to the process of modeling the economic mechanism of intellectual security of enterprise. The author has allocated three approaches: process; based on IDFE0 methodology; system, considering the entities of economic activity as complex systems; and the so-called «information», based on the theory of economic mechanisms. The main features of each of the studied approaches have been disclosed, suggesting to consolidate them to obtain a synergistic effect in the construction of the economic mechanism of intellectual security of enterprises. The basic principles of creation of mechanisms of intellectual security of enterprise have been developed. Also, on the basis of the main postulate of the theory of economic mechanisms – reverse design, the cyclic passes process of designing the economic mechanism of intellectual security of enterprise has been illustrated. That, certainly, does not exhaust the theoretical problematics in the field of modeling the economic mechanisms of intellectual security of enterprise, raising new challenges for further researches.

  1. The role of economic strain on adolescent delinquency: a microsocial process model.

    Science.gov (United States)

    Low, Sabina; Sinclair, Ryan; Shortt, Joann Wu

    2012-08-01

    The current study examines the role of economic strain as a moderator of the microsocial processes influencing younger siblings' delinquency (externalizing behavior and substance use) in a longitudinal design. The younger siblings (122 younger brothers and 122 younger sisters) were from 244 families with same-sex biological siblings. Structural equation modeling was utilized to examine a process model whereby mothers' harsh/inconsistent parenting and older sibling delinquency influence younger siblings' delinquent behavior via sibling aggression and delinquent peer affiliation. Findings suggest that indirect mechanisms vary as a function of economic strain, with sibling aggression having a stronger, more detrimental effect on adolescent delinquency in economically strained families. Data suggest that familial economic conditions contextualize the relative roles of parenting, sibling, and peer processes in the transmission of risk to adolescent delinquency. PsycINFO Database Record (c) 2012 APA, all rights reserved.

  2. A Framework for Developing the Structure of Public Health Economic Models.

    Science.gov (United States)

    Squires, Hazel; Chilcott, James; Akehurst, Ronald; Burr, Jennifer; Kelly, Michael P

    2016-01-01

    A conceptual modeling framework is a methodology that assists modelers through the process of developing a model structure. Public health interventions tend to operate in dynamically complex systems. Modeling public health interventions requires broader considerations than clinical ones. Inappropriately simple models may lead to poor validity and credibility, resulting in suboptimal allocation of resources. This article presents the first conceptual modeling framework for public health economic evaluation. The framework presented here was informed by literature reviews of the key challenges in public health economic modeling and existing conceptual modeling frameworks; qualitative research to understand the experiences of modelers when developing public health economic models; and piloting a draft version of the framework. The conceptual modeling framework comprises four key principles of good practice and a proposed methodology. The key principles are that 1) a systems approach to modeling should be taken; 2) a documented understanding of the problem is imperative before and alongside developing and justifying the model structure; 3) strong communication with stakeholders and members of the team throughout model development is essential; and 4) a systematic consideration of the determinants of health is central to identifying the key impacts of public health interventions. The methodology consists of four phases: phase A, aligning the framework with the decision-making process; phase B, identifying relevant stakeholders; phase C, understanding the problem; and phase D, developing and justifying the model structure. Key areas for further research involve evaluation of the framework in diverse case studies and the development of methods for modeling individual and social behavior. This approach could improve the quality of Public Health economic models, supporting efficient allocation of scarce resources. Copyright © 2016 International Society for Pharmacoeconomics

  3. An Innovative Economic Incentive Model for Improvement of the Working Environment in Europe

    DEFF Research Database (Denmark)

    Koch, Christian

    1997-01-01

    work injury compensation system, that a number of European countries operate. Building on an understanding of enterprise decision processes and ressources, it is suggested to implement a range of tools targetting different groups of enterprises. The central tools are bonus schemes, a special scheme......The design of economic incentive schemes to promote working environment embetterment has proven complicated. The contribution list some central preconditions and tools of an economic incentive model for improving the working environment. The economic incentive is proposed built into the compulsory...... for small enterprises, a marketing label and low interest investment aid. It is finally discussed what contrains the implementation of such a scheme can be confronted with....

  4. Forecasting performances of three automated modelling techniques during the economic crisis 2007-2009

    DEFF Research Database (Denmark)

    Kock, Anders Bredahl; Teräsvirta, Timo

    2014-01-01

    . The performances of these three model selectors are compared by looking at the accuracy of the forecasts of the estimated neural network models. We apply the neural network model and the three modelling techniques to monthly industrial production and unemployment series from the G7 countries and the four......In this work we consider the forecasting of macroeconomic variables during an economic crisis. The focus is on a specific class of models, the so-called single hidden-layer feed-forward autoregressive neural network models. What makes these models interesting in the present context is the fact...... that they form a class of universal approximators and may be expected to work well during exceptional periods such as major economic crises. Neural network models are often difficult to estimate, and we follow the idea of White (2006) of transforming the specification and nonlinear estimation problem...

  5. Energy-Environment interface: an economic model approach

    International Nuclear Information System (INIS)

    Glot-Sanchez, N.

    1995-01-01

    This thesis is separated in two parts. The first part has four chapters, from the first to the fourth one;the second part has four chapters, from the fifth to the eighth one. The first part describes an analysis of different areas about the subject: the energy sphere, the environmental sphere, the notion of external effects and environmental policy in terms of instruments. The second part is the analysis of the results of a model, aiming to determine the energy strategies in matter of electricity production and their investments to reduce carbon dioxide emissions. 181 refs

  6. Innovation, Decentralization, and Planning in a Multi-Region Model of Schumpeterian Economic Growth

    OpenAIRE

    Batabyal, Amit; Nijkamp, Peter

    2014-01-01

    We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i=1,...,N, our analysis leads to five findings. First, we define the balanced growth path (BGP) allocations and the equilibrium of interest. Second, we stipulate the form of the innovation possibilities frontier that is consistent with balanced economic growth. Third, we derive the growth rate of the ith region in the decentral...

  7. Real-time economic optimization for a fermentation process using Model Predictive Control

    DEFF Research Database (Denmark)

    Petersen, Lars Norbert; Jørgensen, John Bagterp

    2014-01-01

    Fermentation is a widely used process in production of many foods, beverages, and pharmaceuticals. The main goal of the control system is to maximize profit of the fermentation process, and thus this is also the main goal of this paper. We present a simple dynamic model for a fermentation process...... and demonstrate its usefulness in economic optimization. The model is formulated as an index-1 differential algebraic equation (DAE), which guarantees conservation of mass and energy in discrete form. The optimization is based on recent advances within Economic Nonlinear Model Predictive Control (E......-NMPC), and also utilizes the index-1 DAE model. The E-NMPC uses the single-shooting method and the adjoint method for computation of the optimization gradients. The process constraints are relaxed to soft-constraints on the outputs. Finally we derive the analytical solution to the economic optimization problem...

  8. Economically optimized electricity trade modeling. Iran-Turkey case

    International Nuclear Information System (INIS)

    Shakouri G, H.; Eghlimi, M.; Manzoor, D.

    2009-01-01

    The advantages of power trade between countries, which are attainable for various facts, are distinguished now. Daily differences in the peak-load times of neighboring countries commonly occur for differences in the longitudes of their location. Seasonal differences are also caused by differences in the latitudes leading to different climates. Consequently, different load curves help to have such a production schedule that reduces blackouts and investments for power generation by planning for a proper trade between countries in a region. This paper firstly describes the methodology and framework for the power trade and then the results of an optimal power trade model between Iran and Turkey, which shows a potential benefit for both countries by peak shaving, are presented. The results, in the worst case design, represent optimality of about 1500 MW electricity export from Iran to Turkey at the Turkish peak times, as well as 447 MW electricity import from Turkey at the Iranian peak times. In addition, results derived from running a Long-Run model show that there will be greater potential for power export from Iran to Turkey, which is a guideline of an energy conservation strategy for both countries in the future. (author)

  9. Studies and research concerning BNFP. Identification and simplified modeling of economically important radwaste variables

    International Nuclear Information System (INIS)

    Ebel, P.E.; Godfrey, W.L.; Henry, J.L.; Postles, R.L.

    1983-09-01

    An extensive computer model describing the mass balance and economic characteristics of radioactive waste disposal systems was exercised in a series of runs designed using linear statistical methods. The most economically important variables were identified, their behavior characterized, and a simplified computer model prepared which runs on desk-top minicomputers. This simplified model allows the investigation of the effects of the seven most significant variables in each of four waste areas: Liquid Waste Storage, Liquid Waste Solidification, General Process Trash Handling, and Hulls Handling. 8 references, 1 figure, 12 tables

  10. Forecasting performance of three automated modelling techniques during the economic crisis 2007-2009

    DEFF Research Database (Denmark)

    Kock, Anders Bredahl; Teräsvirta, Timo

    In this work we consider forecasting macroeconomic variables during an economic crisis. The focus is on a speci…c class of models, the so-called single hidden-layer feedforward autoregressive neural network models. What makes these models interesting in the present context is that they form a cla...... during the economic crisis 2007–2009. Forecast accuracy is measured by the root mean square forecast error. Hypothesis testing is also used to compare the performance of the different techniques with each other....

  11. Ecosystem-based fishery management: a critical review of concepts and ecological economic models

    DEFF Research Database (Denmark)

    Nguyen, Thanh Viet

      An ecosystem approach means different things to different people. As a result the concept of ecosystem-based fishery management is evolving and it has no universal definition or consistent application. As regards ecosystem modeling, most economic models of fishery ignore the linkages to lower...... trophic levels. In particular, environmental data and other bottom-up information is widely disregarded. The objective of this paper is to provide a critical review of concepts and ecological economic models relating to ecosystem-based fishery management....

  12. Emergent behavior in a coupled economic and coastline model for beach nourishment

    Directory of Open Access Journals (Sweden)

    E. D. Lazarus

    2011-12-01

    Full Text Available Developed coastal areas often exhibit a strong systemic coupling between shoreline dynamics and economic dynamics. "Beach nourishment", a common erosion-control practice, involves mechanically depositing sediment from outside the local littoral system onto an actively eroding shoreline to alter shoreline morphology. Natural sediment-transport processes quickly rework the newly engineered beach, causing further changes to the shoreline that in turn affect subsequent beach-nourishment decisions. To the limited extent that this landscape/economic coupling has been considered, evidence suggests that towns tend to employ spatially myopic economic strategies under which individual towns make isolated decisions that do not account for their neighbors. What happens when an optimization strategy that explicitly ignores spatial interactions is incorporated into a physical model that is spatially dynamic? The long-term attractor that develops for the coupled system (the state and behavior to which the system evolves over time is unclear. We link an economic model, in which town-manager agents choose economically optimal beach-nourishment intervals according to past observations of their immediate shoreline, to a simplified coastal-dynamics model that includes alongshore sediment transport and background erosion (e.g. from sea-level rise. Simulations suggest that feedbacks between these human and natural coastal processes can generate emergent behaviors. When alongshore sediment transport and spatially myopic nourishment decisions are coupled, increases in the rate of sea-level rise can destabilize economically optimal nourishment practices into a regime characterized by the emergence of chaotic shoreline evolution.

  13. MODEL EVALUATION OF THE SPATIAL DEVELOPMENT OF THE REGION THROUGH THE DEVELOPMENT OF REGIONAL ECONOMIC CLUSTERS

    Directory of Open Access Journals (Sweden)

    Чингис Дашидалаевич Дашицыренов

    2013-12-01

    Full Text Available The article describes a model of evaluation of effectiveness of spatial development of a region. Main approaches and criteria to assess effectiveness of socio-economic development of a region based on use of regional economic cluster are identified.The author believes that clusterization allows to eliminate or localize mentioned above restrictions which are characteristic of specific activity of entities. Effect in this case can be measured by increase in productivity obtained from cluster’s resources use  in regard to specific form of enterprises’ existence.The article also focused on definition of idea of synergic effect and the model of effectiveness of clusters. Cluster integration’s essence is considered – it is pointed out that a new structure is formed, which has emergent characteristics.Thus, main approach to spatial socio-economic development of a region proposed by the author is diversification of organizational and economic forms into regional economic clusters.Proposed by the author model allows to assess effectiveness of clusterization for spatial socio-economic development of any region. DOI: http://dx.doi.org/10.12731/2218-7405-2013-10-14

  14. Model Proposition for the Fiscal Policies Analysis Applied in Economic Field

    Directory of Open Access Journals (Sweden)

    Larisa Preda

    2007-05-01

    Full Text Available This paper presents a study about fiscal policy applied in economic development. Correlations between macroeconomics and fiscal indicators signify the first steep in our analysis. Next step is a new model proposal for the fiscal and budgetary choices. This model is applied on the date of the Romanian case.

  15. Modelling and economic evaluation of forest biome shifts under climate change in Southwest Germany

    Science.gov (United States)

    Marc Hanewinkel; Susan Hummel; Dominik. Cullmann

    2010-01-01

    We evaluated the economic effects of a predicted shift from Norway spruce (Picea abies) to European beech (Fagus sylvatica) for a forest area of 1.3 million ha in southwest Germany. The shift was modelled with a generalized linear model (GLM) by using presence/absence data from the National Forest Inventory in Baden-Wurttemberg...

  16. User's Guide To CHEAP0 II-Economic Analysis of Stand Prognosis Model Outputs

    Science.gov (United States)

    Joseph E. Horn; E. Lee Medema; Ervin G. Schuster

    1986-01-01

    CHEAP0 II provides supplemental economic analysis capability for users of version 5.1 of the Stand Prognosis Model, including recent regeneration and insect outbreak extensions. Although patterned after the old CHEAP0 model, CHEAP0 II has more features and analytic capabilities, especially for analysis of existing and uneven-aged stands....

  17. Introducing labour productivity changes into models used for economic impact analysis in tourism

    NARCIS (Netherlands)

    Klijs, Jeroen; Peerlings, Jack; Heijman, Wim

    2017-01-01

    In tourism management, traditional input-output models are often applied to calculate economic impacts, including employment impacts. These models imply that increases in output are translated into proportional increases in labour, indicating constant labour productivity. In non-linear input-

  18. Random regret minimization : Exploration of a new choice model for environmental and resource economics

    NARCIS (Netherlands)

    Thiene, M.; Boeri, M.; Chorus, C.G.

    2011-01-01

    This paper introduces the discrete choice model-paradigm of Random Regret Minimization (RRM) to the field of environmental and resource economics. The RRM-approach has been very recently developed in the context of travel demand modelling and presents a tractable, regret-based alternative to the

  19. A Multi-Region Model of Economic Growth with Human Capital and Negative Externalities in Innovation

    NARCIS (Netherlands)

    Batabyal, A.; Nijkamp, P.

    2013-01-01

    We use a multi-region model and provide the first theoretical analysis of the effects of human capital use and a particular kind of innovative activity on economic growth. In each of the N heterogeneous regions in our model, consumers have constant relative risk aversion preferences, there are

  20. Multistability and complex dynamics in a simple discrete economic model

    International Nuclear Information System (INIS)

    Peng Mingshu; Jiang Zhonghao; Jiang Xiaoxia; Hu Jiping; Qu Youli

    2009-01-01

    In this paper, we will propose a generalized Cournot duopoly model with Z 2 symmetry. We demonstrate that cost functions incorporating an interfirm externality lead to a system of couple one-dimensional maps. In the situation where agents take turns, we find in an analytic way that there coexist multiple unstable/stable period-2 cycles or synchronized/asynchronized periodic orbits. Coupling one-dimension chaos can be observed. In a more general situation, where agents move simultaneously, a closer analysis reveals some well-known local bifurcations and global bifurcations which typically occur in two-parameter families of two-dimensional discrete time dynamical systems, including codimension-one (fold-, flip-, Neimark-Sacker-) bifurcations, codimension-two (fold/flip, 1:2 resonance, 1:3 resonance and 1:4 resonance) bifurcations, and hetero-clinic, homo-clinic bifurcations, etc. Multistability, including the coexistence of synchronized/asynchronized solutions are also discussed.

  1. A Linear Algorithm for Black Scholes Economic Model

    Directory of Open Access Journals (Sweden)

    Dumitru FANACHE

    2008-01-01

    Full Text Available The pricing of options is a very important problem encountered in financial domain. The famous Black-Scholes model provides explicit closed form solution for the values of certain (European style call and put options. But for many other options, either there are no closed form solution, or if such closed form solutions exist, the formulas exhibiting them are complicated and difficult to evaluate accurately by conventional methods. The aim of this paper is to study the possibility of obtaining the numerical solution for the Black-Scholes equation in parallel, by means of several processors, using the finite difference method. A comparison between the complexity of the parallel algorithm and the serial one is given.

  2. Pharmaceutical interventions for mitigating an influenza pandemic: modeling the risks and health-economic impacts.

    Science.gov (United States)

    Postma, Maarten J; Milne, George; Nelson, E Anthony S; Pyenson, Bruce; Basili, Marcello; Coker, Richard; Oxford, John; Garrison, Louis P

    2010-12-01

    Model-based analyses built on burden-of-disease and cost-effectiveness theory predict that pharmaceutical interventions may efficiently mitigate both the epidemiologic and economic impact of an influenza pandemic. Pharmaceutical interventions typically encompass the application of (pre)pandemic influenza vaccines, other vaccines (notably pneumococcal), antiviral treatments and other drug treatment (e.g., antibiotics to target potential complications of influenza). However, these models may be too limited to capture the full macro-economic impact of pandemic influenza. The aim of this article is to summarize current health-economic modeling approaches to recognize the strengths and weaknesses of these approaches, and to compare these with more recently proposed alternative methods. We conclude that it is useful, particularly for policy and planning purposes, to extend modeling concepts through the application of alternative approaches, including insurers' risk theories, human capital approaches and sectoral and full macro-economic modeling. This article builds on a roundtable meeting of the Pandemic Influenza Economic Impact Group that was held in Boston, MA, USA, in December 2008.

  3. Agent-based model for electricity consumption and storage to evaluate economic viability of tariff arbitrage for residential sector demand response

    International Nuclear Information System (INIS)

    Zheng, Menglian; Meinrenken, Christoph J.; Lackner, Klaus S.

    2014-01-01

    Highlights: • Storage-based demand response (loadshifting) is underutilized in residential sector. • Economics (arbitrage savings versus equipment cost) are not well understood. • Stochastic demand models and real-life tariffs can illuminate economic viability. • A range of available storage options provide economically viable DR. • Daily/seasonal stochastic demand variations crucial to understanding optimum capacity. - Abstract: Demand response (DR) is one of many approaches to address temporal mismatches in demand and supply of grid electricity. More common in the commercial sector, DR usually refers to reducing consumption at certain hours or seasons, thus reducing peak demand from the grid. In the residential sector, where sophisticated appliance-level controls such as automatic dimming of lights or on-demand lowering of air conditioning are less common, building-based electricity storage to shift grid consumption from peak to off-peak times could provide DR without requiring consumers to operate their appliances on shifted or reduced schedules: Storage would be dispatched to appliances as needed while still shaving peaks on the grid. Technologically, storage and two-way-inverters are readily available to enable such residential DR. Economically, however, the situation is less clear. Specifically, are time-varying electricity tariffs available such that electricity cost reduction via arbitrage could offset manufacturing, financing, and installation costs of the required storage? To address this question we (i) devise an agent-based appliance-level stochastic model to simulate the electricity demand of an average U.S. household; (ii) loadshift the demand via simple dispatch strategies; and (iii) determine potential profits to the building owner, i.e. reduced electricity cost of the modified demand with realistic tariffs (Con Edison, NY) minus storage cost. We determine the economic viability for a range of traditional and advanced storage technologies

  4. Using the Agent-Based Modeling in Economic Field

    Directory of Open Access Journals (Sweden)

    Nora Mihail

    2006-12-01

    Full Text Available The last ten years of the XX century has been the witnesses of the apparition of a new scientific field, which is usually defined as the study of “Complex adaptive systems”. This field, generic named Complexity Sciences, shares its subject, the general proprieties of complex systems across traditional disciplinary boundaries, with cybernetics and general systems theory. But the development of Complexity Sciences approaches is determined by the extensive use of Agent-Based-Models (ABM as a research tool and an emphasis on systems, such as markets, populations or ecologies, which are less integrated or “organized” than the ones, such as companies and economies, intensively studied by the traditional disciplines. For ABM, a complex system is a system of individual agents who have the freedom to act in ways that are not always totally predictable, and whose actions are interconnected such that one agent’s actions changes the context (environment for other agents. These are many examples of such complex systems: the stock market, the human body immune system, a business organization, an institution, a work-team, a family etc.

  5. Modeling companion diagnostics in economic evaluations of targeted oncology therapies: systematic review and methodological checklist.

    Science.gov (United States)

    Doble, Brett; Tan, Marcus; Harris, Anthony; Lorgelly, Paula

    2015-02-01

    The successful use of a targeted therapy is intrinsically linked to the ability of a companion diagnostic to correctly identify patients most likely to benefit from treatment. The aim of this study was to review the characteristics of companion diagnostics that are of importance for inclusion in an economic evaluation. Approaches for including these characteristics in model-based economic evaluations are compared with the intent to describe best practice methods. Five databases and government agency websites were searched to identify model-based economic evaluations comparing a companion diagnostic and subsequent treatment strategy to another alternative treatment strategy with model parameters for the sensitivity and specificity of the companion diagnostic (primary synthesis). Economic evaluations that limited model parameters for the companion diagnostic to only its cost were also identified (secondary synthesis). Quality was assessed using the Quality of Health Economic Studies instrument. 30 studies were included in the review (primary synthesis n = 12; secondary synthesis n = 18). Incremental cost-effectiveness ratios may be lower when the only parameter for the companion diagnostic included in a model is the cost of testing. Incorporating the test's accuracy in addition to its cost may be a more appropriate methodological approach. Altering the prevalence of the genetic biomarker, specific population tested, type of test, test accuracy and timing/sequence of multiple tests can all impact overall model results. The impact of altering a test's threshold for positivity is unknown as it was not addressed in any of the included studies. Additional quality criteria as outlined in our methodological checklist should be considered due to the shortcomings of standard quality assessment tools in differentiating studies that incorporate important test-related characteristics and those that do not. There is a need to refine methods for incorporating the characteristics

  6. Jobs and Economic Development Impact (JEDI) User Reference Guide: Fast Pyrolysis Biorefinery Model

    Energy Technology Data Exchange (ETDEWEB)

    Zhang, Yimin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Goldberg, Marshall [MRG and Associates, Nevada City, CA (United States)

    2015-02-01

    This guide -- the JEDI Fast Pyrolysis Biorefinery Model User Reference Guide -- was developed to assist users in operating and understanding the JEDI Fast Pyrolysis Biorefinery Model. The guide provides information on the model's underlying methodology, as well as the parameters and data sources used to develop the cost data utilized in the model. This guide also provides basic instruction on model add-in features and a discussion of how the results should be interpreted. Based on project-specific inputs from the user, the JEDI Fast Pyrolysis Biorefinery Model estimates local (e.g., county- or state-level) job creation, earnings, and output from total economic activity for a given fast pyrolysis biorefinery. These estimates include the direct, indirect and induced economic impacts to the local economy associated with the construction and operation phases of biorefinery projects.Local revenue and supply chain impacts as well as induced impacts are estimated using economic multipliers derived from the IMPLAN software program. By determining the local economic impacts and job creation for a proposed biorefinery, the JEDI Fast Pyrolysis Biorefinery Model can be used to field questions about the added value biorefineries might bring to a local community.

  7. The relation between maturity and sophistication shall be properly dealt with in nuclear power development

    International Nuclear Information System (INIS)

    Li Yongjiang

    2009-01-01

    The paper analyses the advantages and disadvantages of the second generation improved technologies and third generation technologies mainly developed in China in terms of safety and economy. The paper also discusses the maturity of the second generation improved technologies and the sophistication of the third generation technologies respectively. Meanwhile, the paper proposes that the advantage and disadvantage of second generation improved technologies and third generation technologies should be carefully taken into consideration and the relationship between the maturity and sophistication should be properly dealt with in the current stage. A two-step strategy shall be taken as a solution to solve the problem of insufficient capacity of nuclear power, trace and develop the third generation technologies, so as to ensure the sound and fast development of nuclear power. (authors)

  8. Reactive polymer coatings: A robust platform towards sophisticated surface engineering for biotechnology

    Science.gov (United States)

    Chen, Hsien-Yeh

    Functionalized poly(p-xylylenes) or so-called reactive polymers can be synthesized via chemical vapor deposition (CVD) polymerization. The resulting ultra-thin coatings are pinhole-free and can be conformally deposited to a wide range of substrates and materials. More importantly, the equipped functional groups can served as anchoring sites for tailoring the surface properties, making these reactive coatings a robust platform that can deal with sophisticated challenges faced in biointerfaces. In this work presented herein, surface coatings presenting various functional groups were prepared by CVD process. Such surfaces include aldehyde-functionalized coating to precisely immobilize saccharide molecules onto well-defined areas and alkyne-functionalized coating to click azide-modified molecules via Huisgen 1,3-dipolar cycloaddition reaction. Moreover, CVD copolymerization has been conducted to prepare multifunctional coatings and their specific functions were demonstrated by the immobilization of biotin and NHS-ester molecules. By using a photodefinable coating, polyethylene oxides were immobilized onto a wide range of substrates through photo-immobilization. Spatially controlled protein resistant properties were characterized by selective adsorption of fibrinogen and bovine serum albumin as model systems. Alternatively, surface initiator coatings were used for polymer graftings of polyethylene glycol) methyl ether methacrylate, and the resultant protein- and cell- resistant properties were characterized by adsorption of kinesin motor proteins, fibrinogen, and murine fibroblasts (NIH3T3). Accessibility of reactive coatings within confined microgeometries was systematically studied, and the preparation of homogeneous polymer thin films within the inner surface of microchannels was demonstrated. Moreover, these advanced coatings were applied to develop a dry adhesion process for microfluidic devices. This process provides (i) excellent bonding strength, (ii) extended

  9. The modelling of off-site economic consequences of nuclear accidents

    International Nuclear Information System (INIS)

    Alonso, A.; Gallego, E.; Martin, J.E.

    1991-01-01

    The paper presents a computer model for the probabilistic assessment of the off-site economic risk derived from nuclear accidents. The model is called MECA (Model for Economic Consequence Assessment) and takes into consideration the direct costs caused, following an accident, by the different countermeasures adopted to prevent both the early and chronic exposure of the population to the radionuclides released, as well as the direct costs derived from health damage to the affected population. The model uses site-specific data that are organized in a socio-economic data base; detailed distributions of population, livestock census, agricultural production and farmland use, as well as of employment, salaries, and added value for different economic sectors are included. This data base has been completed for Spain, based on available official statistics. The new code, coupled to a general ACA code, provides capability to complete probabilistic risk assessments from the point of view of the off-site economic consequences, and also to perform cost-effectiveness analysis of the different countermeasures in the field of emergency preparedness

  10. Putin’s Russia: Russian Mentality and Sophisticated Imperialism in Military Policies

    OpenAIRE

    Szénási, Lieutenant-Colonel Endre

    2016-01-01

    According to my experiences, the Western world hopelessly fails to understand Russian mentality, or misinterprets it. During my analysis of the Russian way of thinking I devoted special attention to the examination of military mentality. I have connected the issue of the Russian way of thinking to the contemporary imperial policies of Putin’s Russia.  I have also attempted to prove the level of sophistication of both. I hope that a better understanding of both the Russian mentality and imperi...

  11. Prediction of Combine Economic Life Based on Repair and Maintenance Costs Model

    Directory of Open Access Journals (Sweden)

    A Rohani

    2014-09-01

    Full Text Available Farm machinery managers often need to make complex economic decisions on machinery replacement. Repair and maintenance costs can have significant impacts on this economic decision. The farm manager must be able to predict farm machinery repair and maintenance costs. This study aimed to identify a regression model that can adequately represent the repair and maintenance costs in terms of machine age in cumulative hours of use. The regression model has the ability to predict the repair and maintenance costs for longer time periods. Therefore, it can be used for the estimation of the economic life. The study was conducted using field data collected from 11 John-Deer 955 combine harvesters used in several western provinces of Iran. It was found that power model has a better performance for the prediction of combine repair and maintenance costs. The results showed that the optimum replacement age of John-Deer 955 combine was 54300 cumulative hours.

  12. Energy Production and Regional Economic Growth in China: A More Comprehensive Analysis Using a Panel Model

    Directory of Open Access Journals (Sweden)

    Yaobin Liu

    2013-03-01

    Full Text Available China has witnessed a fast economic growth in the recent two decades. However, the heavy energy exploitation seems to show a negative relation to regional economic growth. Thus, the issue is whether the energy production is a curse or blessing for the regional economic growth in China. The present study deploys a comprehensive approach to rigorously prove the validity of a proposed panel data model that includes a second generation panel unit root test and panel cointegration and a spatial panel model. The results from the second generation panel unit root test and panel cointegration allowing for cross-sectional dependences show the differenced series are stationary and there exists a cointegration relationship among these variables for all sub-regions. The results from the spatial panel data model support the conjecture of the spatial dependent and show that there is a “resource curse” only for the Western region and Central region in China.

  13. [The theory of the demographic transition as a reference for demo-economic models].

    Science.gov (United States)

    Genne, M

    1981-01-01

    The aim of the theory of demographic transition (TTD) is to better understand the behavior and interrelationship of economic and demographic variables. There are 2 types of demo-economic models: 1) the malthusian models, which consider demographic variables as pure exogenous variables, and 2) the neoclassical models, which consider demographic variables as strictly endogenous. If TTD can explore the behavior of exogenous and endogenous demographic variables, it cannot demonstrate neither the relation nor the order of causality among the various demographic and economic variables, but it is simply the theoretical framework of a complex social and economic phenomenon which started in Europe in the 19th Century, and which today can be extended to developing countries. There are 4 stages in the TTD; the 1st stage is characterized by high levels of fecundity and mortality; the 2nd stage is characterized by high fecundity levels and declining mortality levels; the 3rd stage is characterized by declining fecundity levels and low mortality levels; the 4th stage is characterized by low fertility and mortality levels. The impact of economic variables over mortality and birth rates is evident for mortality rates, which decline earlier and at a greater speed than birth rates. According to reliable mathematical predictions, around the year 1987 mortality rates in developing countries will have reached the low level of European countries, and growth rate will be only 1.5%. If the validity of demo-economic models has not yet been established, TTD has clearly shown that social and economic development is the factor which influences demographic expansion.

  14. Musical Sophistication and the Effect of Complexity on Auditory Discrimination in Finnish Speakers

    Science.gov (United States)

    Dawson, Caitlin; Aalto, Daniel; Šimko, Juraj; Vainio, Martti; Tervaniemi, Mari

    2017-01-01

    Musical experiences and native language are both known to affect auditory processing. The present work aims to disentangle the influences of native language phonology and musicality on behavioral and subcortical sound feature processing in a population of musically diverse Finnish speakers as well as to investigate the specificity of enhancement from musical training. Finnish speakers are highly sensitive to duration cues since in Finnish, vowel and consonant duration determine word meaning. Using a correlational approach with a set of behavioral sound feature discrimination tasks, brainstem recordings, and a musical sophistication questionnaire, we find no evidence for an association between musical sophistication and more precise duration processing in Finnish speakers either in the auditory brainstem response or in behavioral tasks, but they do show an enhanced pitch discrimination compared to Finnish speakers with less musical experience and show greater duration modulation in a complex task. These results are consistent with a ceiling effect set for certain sound features which corresponds to the phonology of the native language, leaving an opportunity for music experience-based enhancement of sound features not explicitly encoded in the language (such as pitch, which is not explicitly encoded in Finnish). Finally, the pattern of duration modulation in more musically sophisticated Finnish speakers suggests integrated feature processing for greater efficiency in a real world musical situation. These results have implications for research into the specificity of plasticity in the auditory system as well as to the effects of interaction of specific language features with musical experiences. PMID:28450829

  15. Musical Sophistication and the Effect of Complexity on Auditory Discrimination in Finnish Speakers.

    Science.gov (United States)

    Dawson, Caitlin; Aalto, Daniel; Šimko, Juraj; Vainio, Martti; Tervaniemi, Mari

    2017-01-01

    Musical experiences and native language are both known to affect auditory processing. The present work aims to disentangle the influences of native language phonology and musicality on behavioral and subcortical sound feature processing in a population of musically diverse Finnish speakers as well as to investigate the specificity of enhancement from musical training. Finnish speakers are highly sensitive to duration cues since in Finnish, vowel and consonant duration determine word meaning. Using a correlational approach with a set of behavioral sound feature discrimination tasks, brainstem recordings, and a musical sophistication questionnaire, we find no evidence for an association between musical sophistication and more precise duration processing in Finnish speakers either in the auditory brainstem response or in behavioral tasks, but they do show an enhanced pitch discrimination compared to Finnish speakers with less musical experience and show greater duration modulation in a complex task. These results are consistent with a ceiling effect set for certain sound features which corresponds to the phonology of the native language, leaving an opportunity for music experience-based enhancement of sound features not explicitly encoded in the language (such as pitch, which is not explicitly encoded in Finnish). Finally, the pattern of duration modulation in more musically sophisticated Finnish speakers suggests integrated feature processing for greater efficiency in a real world musical situation. These results have implications for research into the specificity of plasticity in the auditory system as well as to the effects of interaction of specific language features with musical experiences.

  16. Integrated Ecological-Economic Modeling of Regions with the use of GIS Technologies

    Directory of Open Access Journals (Sweden)

    G.N. Bulatova

    2017-11-01

    Full Text Available The paper shows the process of modeling the integrated map “Scheme of the ecological and economic regionalization of the territory of the Russian Federation on the basis of the mineral and raw materials base of natural adsorbents” using GIS technologies. The map is based on three main groups of indicators: natural, economic and environmental. The ecological content of the map is characterized by indicators that are potential or actual sources of pollutant release into the environment (nuclear power plants, nuclear reactors, radioactive waste storage and disposal sites, nuclear test sites, industrial enterprises, railways, operating and under construction oil pipelines, hydrocarbon fields, etc.. The economic component of the map is the reserves estimated by the indicators of study and development, the relationship to the subsoil fund and forecast resources. The natural group of indicators is represented by the mineral and raw material base of natural adsorbents (fields and objects of forecast resources that can be used to prevent harmful emissions and for the ecological and economic rehabilitation of contaminated areas. Based on the analysis of cartographic data, the ecological and economic areas of the territorial distribution of man-caused environmental impacts and the presence of adsorption raw materials are identified. As an example, a description is given of the ecological and economic model of the regionalization of the Privolzhsky Federal District using the GIS “Mineral resource base of natural adsorbents of Russia” developed at the Federal State Unitary Enterprise TsNIIgeolnerud.

  17. Modeling imbalanced economic recovery following a natural disaster using input-output analysis.

    Science.gov (United States)

    Li, Jun; Crawford-Brown, Douglas; Syddall, Mark; Guan, Dabo

    2013-10-01

    Input-output analysis is frequently used in studies of large-scale weather-related (e.g., Hurricanes and flooding) disruption of a regional economy. The economy after a sudden catastrophe shows a multitude of imbalances with respect to demand and production and may take months or years to recover. However, there is no consensus about how the economy recovers. This article presents a theoretical route map for imbalanced economic recovery called dynamic inequalities. Subsequently, it is applied to a hypothetical postdisaster economic scenario of flooding in London around the year 2020 to assess the influence of future shocks to a regional economy and suggest adaptation measures. Economic projections are produced by a macro econometric model and used as baseline conditions. The results suggest that London's economy would recover over approximately 70 months by applying a proportional rationing scheme under the assumption of initial 50% labor loss (with full recovery in six months), 40% initial loss to service sectors, and 10-30% initial loss to other sectors. The results also suggest that imbalance will be the norm during the postdisaster period of economic recovery even though balance may occur temporarily. Model sensitivity analysis suggests that a proportional rationing scheme may be an effective strategy to apply during postdisaster economic reconstruction, and that policies in transportation recovery and in health care are essential for effective postdisaster economic recovery. © 2013 Society for Risk Analysis.

  18. Modelling the role of forests on water provision services: a hydro-economic valuation approach

    Science.gov (United States)

    Beguería, S.; Campos, P.

    2015-12-01

    Hydro-economic models that allow integrating the ecological, hydrological, infrastructure, economic and social aspects into a coherent, scientifically- informed framework constitute preferred tools for supporting decision making in the context of integrated water resources management. We present a case study of water regulation and provision services of forests in the Andalusia region of Spain. Our model computes the physical water flows and conducts an economic environmental income and asset valuation of forest surface and underground water yield. Based on available hydrologic and economic data, we develop a comprehensive water account for all the forest lands at the regional scale. This forest water environmental valuation is integrated within a much larger project aiming at providing a robust and easily replicable accounting tool to evaluate yearly the total income and capital of forests, encompassing all measurable sources of private and public incomes (timber and cork production, auto-consumption, recreational activities, biodiversity conservation, carbon sequestration, water production, etc.). We also force our simulation with future socio-economic scenarios to quantify the physical and economic efects of expected trends or simulated public and private policies on future water resources. Only a comprehensive integrated tool may serve as a basis for the development of integrated policies, such as those internationally agreed and recommended for the management of water resources.

  19. Economic damages of ozone air pollution to crops using combined air quality and GIS modelling

    Science.gov (United States)

    Vlachokostas, Ch.; Nastis, S. A.; Achillas, Ch.; Kalogeropoulos, K.; Karmiris, I.; Moussiopoulos, N.; Chourdakis, E.; Banias, G.; Limperi, N.

    2010-09-01

    This study aims at presenting a combined air quality and GIS modelling methodological approach in order to estimate crop damages from photochemical air pollution, depict their spatial resolution and assess the order of magnitude regarding the corresponding economic damages. The analysis is conducted within the Greater Thessaloniki Area, Greece, a Mediterranean territory which is characterised by high levels of photochemical air pollution and considerable agricultural activity. Ozone concentration fields for 2002 and for specific emission reduction scenarios for the year 2010 were estimated with the Ozone Fine Structure model in the area under consideration. Total economic damage to crops turns out to be significant and estimated to be approximately 43 M€ for the reference year. Production of cotton presents the highest economic loss, which is over 16 M€, followed by table tomato (9 M€), rice (4.2 M€), wheat (4 M€) and oilseed rape (2.8 M€) cultivations. Losses are not spread uniformly among farmers and the major losses occur in areas with valuable ozone-sensitive crops. The results are very useful for highlighting the magnitude of the total economic impacts of photochemical air pollution to the area's agricultural sector and can potentially be used for comparison with studies worldwide. Furthermore, spatial analysis of the economic damage could be of importance for governmental authorities and decision makers since it provides an indicative insight, especially if the economic instruments such as financial incentives or state subsidies to farmers are considered.

  20. Physics and financial economics (1776-2014): puzzles, Ising and agent-based models.

    Science.gov (United States)

    Sornette, Didier

    2014-06-01

    This short review presents a selected history of the mutual fertilization between physics and economics--from Isaac Newton and Adam Smith to the present. The fundamentally different perspectives embraced in theories developed in financial economics compared with physics are dissected with the examples of the volatility smile and of the excess volatility puzzle. The role of the Ising model of phase transitions to model social and financial systems is reviewed, with the concepts of random utilities and the logit model as the analog of the Boltzmann factor in statistical physics. Recent extensions in terms of quantum decision theory are also covered. A wealth of models are discussed briefly that build on the Ising model and generalize it to account for the many stylized facts of financial markets. A summary of the relevance of the Ising model and its extensions is provided to account for financial bubbles and crashes. The review would be incomplete if it did not cover the dynamical field of agent-based models (ABMs), also known as computational economic models, of which the Ising-type models are just special ABM implementations. We formulate the 'Emerging Intelligence Market Hypothesis' to reconcile the pervasive presence of 'noise traders' with the near efficiency of financial markets. Finally, we note that evolutionary biology, more than physics, is now playing a growing role to inspire models of financial markets.

  1. Measurement of the Economic Growth and Add-on of the R.M. Solow Adjusted Model

    Directory of Open Access Journals (Sweden)

    Ion Gh. Rosca

    2007-08-01

    Full Text Available Besides the models of M. Keynes, R.F. Harrod, E. Domar, D. Romer, Ramsey-Cass-Koopmans model etc., the R.M. Solow model is part of the category which characterizes the economic growth.The paper aim is the economic growth measurement and add-on of the R.M. Solow adjusted model.

  2. Does ICT Participate in Economic Convergence among Asian Countries: Evidence from Dynamic Panel Data Model

    Directory of Open Access Journals (Sweden)

    Bilal MEHMOOD

    2013-01-01

    Full Text Available Conventional Convergence models usually oversee the role of information and communications technology (ICT as a determinant of convergence. This paper introduces ICT as a factor contributing towards economic convergence in Asian countries. In addition to ICT, other factors like demographic traits, level of human development and electricity consumption are used as regressors. System GMM technique is used to estimate convergence regression for se-lected Asian countries for data of time span 2001-2010. Support for ICT-augmented conver-gence is found, implying that ICT has the tendency to participate in convergence process. Suitable demographic features, human development and electricity consumption are also found to contribute to economic convergence in the sample countries of Asia. Findings of this paper indicate the need to complement the favorable demographic endowments in Asian economies with economically productive usage of ICT to proceed towards economic convergence in Asian Region.

  3. Multi products single machine economic production quantity model with multiple batch size

    Directory of Open Access Journals (Sweden)

    Ata Allah Taleizadeh

    2011-04-01

    Full Text Available In this paper, a multi products single machine economic order quantity model with discrete delivery is developed. A unique cycle length is considered for all produced items with an assumption that all products are manufactured on a single machine with a limited capacity. The proposed model considers different items such as production, setup, holding, and transportation costs. The resulted model is formulated as a mixed integer nonlinear programming model. Harmony search algorithm, extended cutting plane and particle swarm optimization methods are used to solve the proposed model. Two numerical examples are used to analyze and to evaluate the performance of the proposed model.

  4. Applied welfare economics with discrete choice models: implications of theory for empirical specification

    DEFF Research Database (Denmark)

    Batley, Richard; Ibáñez Rivas, Juan Nicolás

    2013-01-01

    in economics. Whilst some researchers were quick to see its practical potential (e.g. McFadden, 1968, 1975), it was not until the late 1970s and early 1980s that RUM was equipped with a reasonably comprehensive theoretical rationale in terms of the economics of consumption. An important tenet of this rationale......The apparatus of the Random Utility Model (RUM) first emerged in the early 1960s, with Marschak (1960) and Block and Marschak (1960) translating models originally developed for discriminant analysis in psychophysics (Thurstone, 1927) to the alternative domain of discrete choice analysis...

  5. Modelling the economic impact of three lameness causing diseases using herd and cow level evidence

    DEFF Research Database (Denmark)

    Ettema, Jehan Frans; Østergaard, Søren; Kristensen, Anders Ringgaard

    2010-01-01

    Diseases to the cow's hoof, interdigital skin and legs are highly prevalent and of large economic impact in modern dairy farming. In order to support farmer's decisions on preventing and treating lameness and its underlying causes, decision support models can be used to predict the economic...... horn diseases. Secondly, the existing simulation model was set-up inwaythat it uses hyper-distributions describing diseases risk of the three lameness causing diseases. By combining information on herd level risk factors with prevalence of lameness or prevalence of underlying diseases among cows...

  6. An Economic Model and Experiments to Understand Aluminum-Cerium Alloy Recycling

    Science.gov (United States)

    Iyer, Ananth V.; Lim, Heejong; Rios, Orlando; Sims, Zachary; Weiss, David

    2018-04-01

    We provide an economic model to understand the impact of adoption, sorting and pricing of scrap on the recycling of a new aluminum-cerium (AlCe) alloy for use in engine blocks in the automobile industry. The goal of the laboratory portion of this study is to investigate possible effects of cerium contamination on well-established aluminum recycling streams. Our methodology includes three components: (1) focused data gathering from industry supply chain participants, (2) experimental data through laboratory experiments to understand the impact of cerium on existing alloys and (3) an economic model to understand pricing incentives on a recycler's separation of AlCe engine blocks.

  7. Technical-economic modelling of an aluminium high pressure die casting system for automotive parts fabrication

    International Nuclear Information System (INIS)

    Faura, F.

    1997-01-01

    In the present paper a technical-economic model for an aluminium high pressure die casting system has been developed. In order to obtain the necessary data for correlations utilized by the model, has been analyzed the production systems of companies that use these processes. This has allowed to determine the most important technological variables that affect to the economical aspect of the process. A computer application has been developed which allows to explore easily the influence of different system parameters. (Author) 12 refs

  8. The Effect of Units Lost Due to Deterioration in Fuzzy Economic Order Quantity (FEOQ) Model

    OpenAIRE

    M. Pattnaik

    2013-01-01

    For several decades, the Economic Order Quantity (EOQ) model and its variations have received much attention from researchers. Recently, there has been an investigation into an EOQ model incorporating effect of units lost due to deterioration in infinite planning horizon with crisp decision environment. Accounting for holding and ordering cost, as has traditionally been the case of modeling inventory systems in fuzzy environment are investigated which are not precisely known and defined on a ...

  9. Economic sustainability in franchising: a model to predict franchisor success or failure

    OpenAIRE

    Calderón Monge, Esther; Pastor Sanz, Ivan .; Huerta Zavala, Pilar Angélica

    2017-01-01

    As a business model, franchising makes a major contribution to gross domestic product (GDP). A model that predicts franchisor success or failure is therefore necessary to ensure economic sustainability. In this study, such a model was developed by applying Lasso regression to a sample of franchises operating between 2002 and 2013. For franchises with the highest likelihood of survival, the franchise fees and the ratio of company-owned to franchised outlets were suited to the age ...

  10. Introduction to Economic Analysis

    OpenAIRE

    R. Preston McAfee

    2005-01-01

    This book presents introductory economics ("principles") material using standard mathematical tools, including calculus. It is designed for a relatively sophisticated undergraduate who has not taken a basic university course in economics. It also contains the standard intermediate microeconomics material and some material that ought to be standard but is not. The book can easily serve as an intermediate microeconomics text. The focus of this book is on the conceptual tools and not on fluff. M...

  11. Agent-Based and Macroscopic Modeling of the Complex Socio-Economic Systems

    Directory of Open Access Journals (Sweden)

    Aleksejus Kononovičius

    2013-08-01

    Full Text Available Purpose – The focus of this contribution is the correspondence between collective behavior and inter-individual interactions in the complex socio-economic systems. Currently there is a wide selection of papers proposing various models for the both collective behavior and inter-individual interactions in the complex socio-economic systems. Yet the papers directly relating these two concepts are still quite rare. By studying this correspondence we discuss a cutting edge approach to the modeling of complex socio-economic systems. Design/methodology/approach – The collective behavior is often modeled using stochastic and ordinary calculus, while the inter-individual interactions are modeled using agent-based models. In order to obtain the ideal model, one should start from these frameworks and build a bridge to reach another. This is a formidable task, if we consider the top-down approach, namely starting from the collective behavior and moving towards inter-individual interactions. The bottom-up approach also fails, if complex inter-individual interaction models are considered, yet in this case we can start with simple models and increase the complexity as needed. Findings – The bottom-up approach, considering simple agent-based herding model as a model for the inter-individual interactions, allows us to derive certain macroscopic models of the complex socio-economic systems from the agent-based perspective. This provides interesting insights into the collective behavior patterns observed in the complex socio-economic systems. Research limitations/implications –The simplicity of the agent-based herding model might be considered to be somewhat limiting. Yet this simplicity implies that the model is highly universal. It reproduces universal features of social behavior and also can be further extended to fit different socio-economic scenarios. Practical implications – Insights provided in this contribution might be used to modify existing

  12. A comparison of economic evaluation models as applied to geothermal energy technology

    Science.gov (United States)

    Ziman, G. M.; Rosenberg, L. S.

    1983-01-01

    Several cost estimation and financial cash flow models have been applied to a series of geothermal case studies. In order to draw conclusions about relative performance and applicability of these models to geothermal projects, the consistency of results was assessed. The model outputs of principal interest in this study were net present value, internal rate of return, or levelized breakeven price. The models used were VENVAL, a venture analysis model; the Geothermal Probabilistic Cost Model (GPC Model); the Alternative Power Systems Economic Analysis Model (APSEAM); the Geothermal Loan Guarantee Cash Flow Model (GCFM); and the GEOCOST and GEOCITY geothermal models. The case studies to which the models were applied include a geothermal reservoir at Heber, CA; a geothermal eletric power plant to be located at the Heber site; an alcohol fuels production facility to be built at Raft River, ID; and a direct-use, district heating system in Susanville, CA.

  13. Interactive model to assess economics of anaerobic digestion of the farm

    Science.gov (United States)

    1981-08-01

    An interactive computer model, to provide economic assessment for on the farm anaerobic digestion systems was designed. The model is accessed as part of the MASEC Models Library. It consists of two phases: engineering analysis and economic analysis. User inputs are stored in a data base and may be retained for future use. Model outputs include a recap of user inputs, calculations for gas production, digester heat requirements, system revenues, yearly cash flow, and a graph of the net present value of the investment. The model is generalized so that nonfarm applications may also be analyzed. The program will work equally well for various digester designs such as continuously stirred reactors, plug flow systems, and fluidized bed columns.

  14. Economic dynamics with financial fragility and mean-field interaction: A model

    Science.gov (United States)

    Di Guilmi, C.; Gallegati, M.; Landini, S.

    2008-06-01

    Following Aoki’s statistical mechanics methodology [Masanao Aoki, New Approaches to Macroeconomic Modeling, Cambridge University Press, 1996; Masanao Aoki, Modeling Aggregate Behaviour and Fluctuations in Economics, Cambridge University Press, 2002; Masanao Aoki, and Hiroshi Yoshikawa, Reconstructing Macroeconomics, Cambridge University Press, 2006], we provide some insights into the well-known works of [Bruce Greenwald, Joseph Stiglitz, Macroeconomic models with equity and credit rationing, in: R. Hubbard (Ed.), Information, Capital Markets and Investment, Chicago University Press, Chicago, 1990; Bruce Greenwald, Joseph Stiglitz, Financial markets imperfections and business cycles, Quarterly journal of Economics (1993)]. Specifically, we reach analytically a closed form solution of their models overcoming the aggregation problem. The key idea is to represent the economy as an evolving complex system, composed by heterogeneous interacting agents, that can be partitioned into a space of macroscopic states. This meso level of aggregation permits to adopt mean-field interaction modeling and master equation techniques.

  15. Development of a Conceptual Model of Disease Progression for Use in Economic Modeling of Chronic Obstructive Pulmonary Disease.

    Science.gov (United States)

    Tabberer, Maggie; Gonzalez-McQuire, Sebastian; Muellerova, Hana; Briggs, Andrew H; Rutten-van Mölken, Maureen P M H; Chambers, Mike; Lomas, David A

    2017-05-01

    To develop and validate a new conceptual model (CM) of chronic obstructive pulmonary disease (COPD) for use in disease progression and economic modeling. The CM identifies and describes qualitative associations between disease attributes, progression and outcomes. A literature review was performed to identify any published CMs or literature reporting the impact and association of COPD disease attributes with outcomes. After critical analysis of the literature, a Steering Group of experts from the disciplines of health economics, epidemiology and clinical medicine was convened to develop a draft CM, which was refined using a Delphi process. The refined CM was validated by testing for associations between attributes using data from the Evaluation of COPD Longitudinally to Identify Predictive Surrogate Endpoints (ECLIPSE). Disease progression attributes included in the final CM were history and occurrence of exacerbations, lung function, exercise capacity, signs and symptoms (cough, sputum, dyspnea), cardiovascular disease comorbidities, 'other' comorbidities (including depression), body composition (body mass index), fibrinogen as a biomarker, smoking and demographic characteristics (age, gender). Mortality and health-related quality of life were determined to be the most relevant final outcome measures for this model, intended to be the foundation of an economic model of COPD. The CM is being used as the foundation for developing a new COPD model of disease progression and to provide a framework for the analysis of patient-level data. The CM is available as a reference for the implementation of further disease progression and economic models.

  16. CIM-EARTH: Community integrated model of economic and resource trajectories for humankind.

    Energy Technology Data Exchange (ETDEWEB)

    Elliott, J.; Foster, I.; Judd, K.; Moyer, E.; Munson, T.; Univ. of Chicago; Hoover Inst.

    2010-01-01

    Climate change is a global problem with local climatic and economic impacts. Mitigation policies can be applied on large geographic scales, such as a carbon cap-and-trade program for the entire U.S., on medium geographic scales, such as the NOx program for the northeastern U.S., or on smaller scales, such as statewide renewable portfolio standards and local gasoline taxes. To enable study of the environmental benefits, transition costs, capitalization effects, and other consequences of mitigation policies, we are developing dynamic general equilibrium models capable of incorporating important climate impacts. This report describes the economic framework we have developed and the current Community Integrated Model of Economic and Resource Trajectories for Humankind (CIM-EARTH) instance.

  17. Economic intermittency in a two-country model of business cycles coupled by investment

    International Nuclear Information System (INIS)

    Saiki, Y.; Chian, A.C.L.; Yoshida, H.

    2011-01-01

    Highlights: → Intermittent economic behavior of Keynes-Goodwin type model is investigated. → After a transition the system keeps its memory before the transition. → The intermittent phenomena is examined from the business cycle patterns. → It is concluded that dynamical patterns do not alter much around the transition. - Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes-Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

  18. Economic intermittency in a two-country model of business cycles coupled by investment

    Energy Technology Data Exchange (ETDEWEB)

    Saiki, Y., E-mail: saiki@math.sci.hokudai.ac.jp [Department of Mathematics, Hokkaido University, Sapporo 060-0810 (Japan); Chian, A.C.L. [National Institute for Space Research (INPE) and World Institute for Space Environment Research (WISER), P.O. Box 515, Sao Jose dos Campos-SP 12227-010 (Brazil); California Institute of Technology, Pasadena, CA 91125 (United States); Yoshida, H. [College of Economics, Nihon University, Tokyo 101-8360 (Japan)

    2011-06-15

    Highlights: > Intermittent economic behavior of Keynes-Goodwin type model is investigated. > After a transition the system keeps its memory before the transition. > The intermittent phenomena is examined from the business cycle patterns. > It is concluded that dynamical patterns do not alter much around the transition. - Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes-Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

  19. Improving models of democracy: the example of lagged effects of economic development, education, and gender equality.

    Science.gov (United States)

    Balaev, Mikhail

    2014-07-01

    The author examines how time delayed effects of economic development, education, and gender equality influence political democracy. Literature review shows inadequate understanding of lagged effects, which raises methodological and theoretical issues with the current quantitative studies of democracy. Using country-years as a unit of analysis, the author estimates a series of OLS PCSE models for each predictor with a systematic analysis of the distributions of the lagged effects. The second set of multiple OLS PCSE regressions are estimated including all three independent variables. The results show that economic development, education, and gender have three unique trajectories of the time-delayed effects: Economic development has long-term effects, education produces continuous effects regardless of the timing, and gender equality has the most prominent immediate and short term effects. The results call for the reassessment of model specifications and theoretical setups in the quantitative studies of democracy. Copyright © 2014 Elsevier Inc. All rights reserved.

  20. Sophisticated Calculation of the 1oo4-architecture for Safety-related Systems Conforming to IEC61508

    International Nuclear Information System (INIS)

    Hayek, A; Al Bokhaiti, M; Schwarz, M H; Boercsoek, J

    2012-01-01

    With the publication and enforcement of the standard IEC 61508 of safety related systems, recent system architectures have been presented and evaluated. Among a number of techniques and measures to the evaluation of safety integrity level (SIL) for safety-related systems, several measures such as reliability block diagrams and Markov models are used to analyze the probability of failure on demand (PFD) and mean time to failure (MTTF) which conform to IEC 61508. The current paper deals with the quantitative analysis of the novel 1oo4-architecture (one out of four) presented in recent work. Therefore sophisticated calculations for the required parameters are introduced. The provided 1oo4-architecture represents an advanced safety architecture based on on-chip redundancy, which is 3-failure safe. This means that at least one of the four channels have to work correctly in order to trigger the safety function.