Publication detail

MODELLING IN PUBLIC ECONOMICS DUE DIFFERENTIAL EQUATIONS WITH DELAY

MYŠKA, M.

Original Title

MODELLING IN PUBLIC ECONOMICS DUE DIFFERENTIAL EQUATIONS WITH DELAY

Type

journal article - other

Language

English

Original Abstract

This paper focuses on describing the basics of modelling in economics. The results of this field of science often lead to the solution of ordinary differential equations (ODE). However, models constructed in this way are not always close enough to reality. In order to be able to better model real situations, in addition to the current states of variables, we also consider their behaviour in the past, which then leads to change of the model to a system of functional differential equations. We often include dependence on the past in the models with shifted arguments, in that case we are talking about the so-called differential equations with a delay (DDE), which cannot be solved using standard methods for solving ODE. This article also introduces DDE, along with a basic method for finding a solution and illustrative model.

Keywords

economic modelling, dynamic models, differential equations with delay, delayed argument, method of steps, eGovernment.

Authors

MYŠKA, M.

Released

31. 12. 2020

ISBN

1813-8489

Periodical

Administrarea Publică

Year of study

108

Number

4

State

Republic of Moldova

Pages from

69

Pages to

76

Pages count

8

URL

http://aap.gov.md/en/article/public-administration-journal

BibTex

@article{BUT167405,
  author="Michal {Myška}",
  title="MODELLING IN PUBLIC ECONOMICS DUE DIFFERENTIAL EQUATIONS WITH DELAY",
  journal="Administrarea Publică",
  year="2020",
  volume="108",
  number="4",
  pages="69--76",
  doi="10.5281/zenodo.4300330",
  issn="1813-8489",
  url="http://aap.gov.md/en/article/public-administration-journal"
}