In the last year we have already written that work in the context of Physics of Risk provides varying insights into very different complex systems. The previous article 1 contained brief review of Physics of Risk platform and discussions on some of the models published using it. This article received great response and was even awarded the Best Paper Award by the publisher IARIA. Continue reading “IARIA publication reviewing our different research directions” »
Working on Physics of Risk is very interesting and useful experience. This experience provides valuable insights into the mechanics behind various complex systems, well modeled by macroscopic models. Using our experience we are able to obtain qualitative and quantitative agreements between varying models. In our newest publication 1 we have used one-step formalism 2 to obtain macroscopic treatments of Kirman model 3.
Bass diffusion model 1 is widely known and very important model in marketing science. This model predicts diffusion, sales, of new successful products inside the market. While previously discussed model, Kirman model 2, has wide range of possible applications – from biology to finance. In 2 it is noted that behavior observed by entomologists is similar to one observed in economic scenarios (ex. popularity of books and restaurants). Thus one might expect that Kirman’s model might be modified to work in the marketing scenario. Continue reading “Unidirectional Kirman’s model” »
2006-2013 Vilnius University Institute of Theorethical Physics and Astronomy.
