Software technology and its related activities are examined from an industrial and economic perspective. More specifically, the distinct characteristics of software from the perspective of the end-user, the software engineer, the operational manager, the intellectual property lawyer, the owner, and the economist are identified. The overlaps and relationships among these perspectives are discuss...

When advising policy we face the fundamental problem that economic processes are connected with uncertainty and thus policy can err. In this paper we show how the use of simulation models can reduce policy errors. We suggest that policy is best based on socalled abductive simulation models, which help to better understand how policy measures can influence economic processes. We show that abduct...

The Internet creates opportunities for micro-level unbundling in stockbroking and other information-intensive industries. This research proposes a framework to capture the unbundling effects on value chains and illustrates the opportunities for the case of the Australian securities market. Inter-organisational work and data-flow models are employed to describe the phases of on-line trading and ...

We build on evidence from neurobiology to model the process through which the brain maps evidence received from the outside world into decisions. This mechanism can be represented by a decision-threshold model. The sensory system encodes information in the form of cellfiring. Cell-firing is then measured against a threshold and an action is triggered depending on whether the threshold is surpas...

This work focuses on the development of economic model predictive control (EMPC) systems for transportreaction processes described by nonlinear parabolic partial differential equations (PDEs) and their applications to a nonisothermal tubular reactor where a second-order chemical reaction takes place. The tubular reactor is modeled by two nonlinear parabolic PDEs. Galerkin’s method is used to de...

The paper contributes to techno-economic modelling of CO2 capture process in coalfired power plants. Technological options of CO2 capture have been chosen and cost estimation relationships (CERs) for the chosen options provided. The CERs are being fitted into a developed overall model of carbon capture and sequestration. Functions relating capital costs, operation and maintenance costs and tota...

Biological diversity on the planet is a result of billions of years of evolution and ecologists, such as John Maynard Smith, are using evolutionary game theory to explain the role of animal behaviour in the evolution process. Game theory, following the work of von Neumann, Morgenstern, Nash and others, is gaining support as a methodology for modelling economic behaviour. As economic activity is...