Economic order/production quantity (EOQ/EPQ) models have generally been presented for manufacturing products. Incorporating some important features of a specific category of products, different EOQ/EPQ models have been proposed in literature. This study proposes a new class of inventory models, i.e. a model for a specific type of inventory items: growing items. Poultry and livestock are good ex...

The United Nations agenda for sustainable development by the year 2030 proposes 17 sustainable development goals which include access to affordable, reliable and clean energy, sustained economic growth with full productive employment and, urgent action to mitigate environmental degradation. Planning for sustainable development requires integrating conflicting criteria on economy, energy, enviro...

Elias Sanidas Abstract In this paper it is argued that Korea and other countries in East Asia like Korea have a particular fate quite predictable in the long run in terms of economic growth and political dependency unless economic integration takes place in a particular direction. Thus the presence of the potentially giant China makes things “difficult” for “Korean” countries (e.g Thailand, Mal...

To deal with dynamic changes of their environment, agents need an adaptive mechanism. This paper proposes an integration of classifier-based framework (named XCS) and an agent-based framework (named DIMA). The result of this integration is an adaptiveagent framework. It has been applied to simulate economic models.

This paper examines the behaviour of firms over time using different economic models as a basis for setting price. A simulation model was created in order to examine the behaviour of the economic models over time. The paper examines the behaviour of a firm using two standard neoclassical economic models: a model built on the principle of marginalism, ie. the firm produces at the point where mar...

We present a dynamic model of "scal policy in a simple growth framework where social polarization (of preferences) plays a central role in the evolution of "scal instability and growth collapse. In a highly polarized society, a de"cit occurs endogenously, "scal spending path becomes more volatile, output collapses, and economic growth rate is reduced along the transition path to a new lower lev...

This article presents a model of macroeconomic growth that combines in a single formalization two complementary views on innovation and economic growth, the technologygap approach and the Kaldorian theory of cumulative causation. The model suggests that what matters for economic growth in the long run is the existence of a good match between the patterns of technological change, income distribu...

This paper investigates the relationship between financial development and economic growth for UK for the period 1965-2007 using a vector error correction model (VECM). The purpose of this paper is to examine the long-run relationship between these variables applying the Johansen cointegration analysis. Granger causality tests indicated that there is a causal relationship between financial deve...

The causation relationship between economic growth and military expenditures in developing countries has received growing focus in recent years. One of the arguments in this field is that military spending absorbs a significant proportion of the limited financial resources in LDCs. The present study examines the causal relation in two models: defense spending with total real economic growth and...

This research evaluates the connection between corruption, economic development, and insecurity in several Colombian departments. This chapter explores the dynamics of these variables using two empirical techniques: the Data Envelopment Analysis (DEA) and the Dynamic Panel Data Model (DPDM). DEA is performed to evaluate social performance in terms of corruption, economic development, and insecu...