Fractional derivative of demand and supply functions in the cobweb economics model and Markov process
This paper presents a more general cobweb model that incorporates the Hilfer fractional derivative in either the demand or supply function or Markov process. The main contributions of this study include deriving the analytical solution for the general model, analyzing the stability of the solution,...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Frontiers Media S.A.
2023-10-01
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| Series: | Frontiers in Physics |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fphy.2023.1266860/full |