A rate-dependent probabilistic model of hysteresis
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Cross, Rod and Grinfeld, Michael and Lamba, Harbir (2024) A rate-dependent probabilistic model of hysteresis. Mathematics, 12 (24). 3924. ISSN 2227-7390 (https://doi.org/10.3390/math12243924)
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Abstract
Instead of modelling an economic agent by a hysteron, we suggest a fluid–mechanical notion of rate-dependent hysteretic agents based on the theory of Poisson counters. It leads to a simple representation of assemblies of such agents. We discuss the properties of the new version of hysteresis and its advantages over classical models of hysteresis in economics.
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Item type: Article ID code: 91580 Dates: DateEvent13 December 2024Published11 December 2024Accepted31 October 2024SubmittedSubjects: Science > Mathematics
Social Sciences > Economic Theory > Methodology > Mathematical economics. Quantitative methodsDepartment: Strathclyde Business School > Economics
Strategic Research Themes > Measurement Science and Enabling Technologies
Strategic Research Themes > Advanced Manufacturing and Materials
Faculty of Science > Mathematics and StatisticsDepositing user: Pure Administrator Date deposited: 13 Dec 2024 16:40 Last modified: 13 Dec 2024 16:40 URI: https://strathprints.strath.ac.uk/id/eprint/91580
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