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Full-Text Articles in Physical Sciences and Mathematics
An Ancient Bankruptcy Solution Makes Economic Sense, Anh H. Ly, Michael Zakharevich, Olga Kosheleva, Vladik Kreinovich
An Ancient Bankruptcy Solution Makes Economic Sense, Anh H. Ly, Michael Zakharevich, Olga Kosheleva, Vladik Kreinovich
Departmental Technical Reports (CS)
While econometrics is a reasonable recent discipline, quantitative solutions to economic problem have been proposed since the ancient times. In particular, solutions have been proposed for the bankruptcy problem: how to divide the assets between the claimants? One of the challenges of analyzing ancient solutions to economics problems is that these solutions are often presented not as a general algorithm, but as a sequence of examples. When there are only a few such example, it is often difficult to convincingly extract a general algorithm from them. This was the case, for example, for the supposedly fairness-motivated Talmudic solution to the …
Quantum Ideas In Economics Beyond Quantum Econometrics, Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta
Quantum Ideas In Economics Beyond Quantum Econometrics, Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta
Departmental Technical Reports (CS)
It is known that computational methods developed for solving equations of quantum physics can be successfully applied to solve economic problems; there is a whole related research area called quantum econometrics. Current quantum econometrics techniques are based on a purely mathematical similarity between the corresponding equations, without any attempt to relate the underlying ideas. We believe that the fact that quantum equations can be successfully applied in economics indicates that there is a deeper relation between these areas, beyond a mathematical similarity. In this paper, we show that there is indeed a deep relation between the main ideas of …