Stochastic models of social-economic dynamics

Stochastic models of social-economic dynamics

Model of time evolution which may be applied to description both of social and economy dynamics is proposed. The model is based on the assumption that evolution is stochastic process which have Markov property. Empirical data show that the stochastic process is ergodic. Such observation makes it pos...

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Bibliographic Details
Published in:2015 International Conference "Stability and Control Processes" in Memory of V.I. Zubov (SCP) pp. 483 - 485
Main Authors: Malafeyev, Oleg A., Nemnyugin, Sergey A., Ivaniukovich, Georgy A.
Format: Conference Proceeding
Language:English
Published: IEEE 01-10-2015
Subjects:
Biological system modeling
Computational modeling
Computer simulation
Economics
Markov processes
Mathematical model
Online Access:Get full text
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Summary:Model of time evolution which may be applied to description both of social and economy dynamics is proposed. The model is based on the assumption that evolution is stochastic process which have Markov property. Empirical data show that the stochastic process is ergodic. Such observation makes it possible to apply the known and proven methods of computer simulation.
DOI:10.1109/SCP.2015.7342178