Reprint
Mathematical Economics
Application of Fractional Calculus
Edited by
June 2020
278 pages
- ISBN978-3-03936-118-2 (Paperback)
- ISBN978-3-03936-119-9 (PDF)
This book is a reprint of the Special Issue Mathematical Economics: Application of Fractional Calculus that was published in
Computer Science & Mathematics
Engineering
Physical Sciences
Public Health & Healthcare
Summary
This book is devoted to the application of fractional calculus in economics to describe processes with memory and non-locality. Fractional calculus is a branch of mathematics that studies the properties of differential and integral operators that are characterized by real or complex orders. Fractional calculus methods are powerful tools for describing the processes and systems with memory and nonlocality. Recently, fractional integro-differential equations have been used to describe a wide class of economical processes with power law memory and spatial nonlocality. Generalizations of basic economic concepts and notions the economic processes with memory were proposed. New mathematical models with continuous time are proposed to describe economic dynamics with long memory. This book is a collection of articles reflecting the latest mathematical and conceptual developments in mathematical economics with memory and non-locality based on applications of fractional calculus.
Format
- Paperback
License
© 2020 by the authors; CC BY-NC-ND license
Keywords
mathematical economics; economic theory; fractional calculus; fractional dynamics; long memory; non-locality; fractional calculus; fractional dynamics; fractional generalization; long memory; non-locality; mathematical economics; economic theory; econometric modelling; identification; Phillips curve; Mittag-Leffler function; generalized fractional derivatives; growth equation; Mittag–Leffler function; Caputo fractional derivative; economic growth model; least squares method; fractional diffusion equation; fundamental solution; option pricing; risk sensitivities; portfolio hedging; business cycle model; stability; time delay; time-fractional-order; Hopf bifurcation; Einstein’s evolution equation; Kolmogorov–Feller equation; diffusion equation; fractional diffusion equation; self-affine stochastic fields; random market hypothesis; efficient market hypothesis; fractal market hypothesis; financial time series analysis; evolutionary computing; fractional calculus; modelling; economic growth; prediction; Group of Twenty; fractional calculus; pseudo-phase space; economy; system modeling; deep assessment; fractional calculus; least squares; modeling; GDP per capita; prediction; LSTM; econophysics; continuous-time random walk (CTRW); fractional calculus; Mittag–Leffler functions; Laplace transform; Fourier transform; n/a