Discover how economists' assumptions shape economic models, affecting predictions about consumer behavior, resource ...

Decentralized finance (DeFi) has emerged as the flagship concept and use case for blockchain technology and cryptocurrency. DeFi is the use of smart contracts and other decentralized technologies to ...

Economic Model Predictive Control (EMPC) represents an evolution of traditional control strategies, where the primary objective is to directly optimise an economic cost function rather than merely ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Americans have been hammered for decades with an economic message that amounts to this: When wealthy ...

Digitalization is transforming everything, and as a part of this, the technology-driven economic model (TDEM) continues to evolve. You may have heard of this model as a technology-based economy model.

Economists have an imaginary person they call a “representative agent,” who is about as realistic as the Easter bunny or the Abominable Snowman. The representative agent is supposed to stand in for ...

To build relationships with China, the second-largest economy in the world, it’s important to understand the politics of Chinese leadership. An economic model could provide some insight. The CCP’s ...