Publication result detail

The Use of Modern Methods of Mathematical Modelling to Backup Decision Making in Business Management

OLEŠOVSKÝ, V.

Original Title

The Use of Modern Methods of Mathematical Modelling to Backup Decision Making in Business Management

English Title

The Use of Modern Methods of Mathematical Modelling to Backup Decision Making in Business Management

Type

Paper in proceedings (conference paper)

Original Abstract

Mathematical economics is a discipline using economic theories and mathematics to investigate the economic legitimacy. The fundamental method of mathematical economics is so called mathematical modelling that is creating models of economic phenomena. In modelling the mathematisation brings mainly objective generalised view of the investigated phenomena and in its consequences leads to formalisation of knowledge and elaboration of new theories, through which it significantly influences the development of the fields. One of the advantages of using mathematics in economics is the fact that mathematics is comprehensible to people speaking via different mother tongues. Disadvantage of using the mathematics in economics is the jeopardy that the mathematical view may outweigh the economical one.

English abstract

Mathematical economics is a discipline using economic theories and mathematics to investigate the economic legitimacy. The fundamental method of mathematical economics is so called mathematical modelling that is creating models of economic phenomena. In modelling the mathematisation brings mainly objective generalised view of the investigated phenomena and in its consequences leads to formalisation of knowledge and elaboration of new theories, through which it significantly influences the development of the fields. One of the advantages of using mathematics in economics is the fact that mathematics is comprehensible to people speaking via different mother tongues. Disadvantage of using the mathematics in economics is the jeopardy that the mathematical view may outweigh the economical one.

Keywords

Mathematical modelling, inventory management, delay differential equations (DDEs)

Key words in English

Mathematical modelling, inventory management, delay differential equations (DDEs)

Authors

OLEŠOVSKÝ, V.

RIV year

2016

Released

12.11.2015

Publisher

IBIMA publishing

Location

Madrid

ISBN

978-0-9860419-5-2

Book

Innovation Management and Sustainable Economic Competitive Advantage: From Regional Development to Global Growth

Pages from

1203

Pages to

1210

Pages count

8

BibTex

@inproceedings{BUT119076,
  author="Václav {Olešovský}",
  title="The Use of Modern Methods of Mathematical Modelling to Backup Decision Making in Business Management",
  booktitle="Innovation Management and Sustainable Economic Competitive Advantage: From Regional Development to Global Growth",
  year="2015",
  pages="1203--1210",
  publisher="IBIMA publishing",
  address="Madrid",
  isbn="978-0-9860419-5-2"
}