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Full-Text Articles in Social and Behavioral Sciences
Why Quadratic Log-Log Dependence Is Ubiquitous And What Next, Sean R. Aguilar, Vladik Kreinovich, Uyen Pham
Why Quadratic Log-Log Dependence Is Ubiquitous And What Next, Sean R. Aguilar, Vladik Kreinovich, Uyen Pham
Departmental Technical Reports (CS)
In many real-life situations ranging from financial to volcanic data, growth is described either by a power law -- which is linear in log-log scale, or by a quadratic dependence in the log-log scale. In this paper, we use natural scale invariance requirement to explain the ubiquity of such dependencies. We also explain what should be a reasonable choice of the next model, if quadratic turns out to be not too accurate: it turns out that under scale invariance, the next class of models are cubic dependencies in the log-log scale, then fourth order dependencies, etc.
Economics Of Reciprocity And Temptation, Laxman Bokati, Olga Kosheleva, Vladik Kreinovich, Nguyen Ngoc Thach
Economics Of Reciprocity And Temptation, Laxman Bokati, Olga Kosheleva, Vladik Kreinovich, Nguyen Ngoc Thach
Departmental Technical Reports (CS)
Behavioral economics has shown that in many situations, people's behavior differs from what is predicted by simple traditional utility-maximization economic models. It is therefore desirable to be able to accurately describe people's actual behavior. In some cases, the difference from the traditional models is caused by bounded rationality -- our limited ability to process information and to come up with a truly optimal solutions. In such cases, predicting people's behavior is difficult. In other cases, however, people actually optimize -- but the actual expression for utility is more complicated than in the traditional models. In such case, it is, in …