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 ...

The report warns many economic models are failing to capture extreme weather events and rising uncertainty likely to dominate ...

Scientists have warned that current models are significantly underrepresenting the toll climate change is taking on the ...

Economic models used by governments, central banks and investors are increasingly understating physical climate risk because ...

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 ...

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 ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

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 ...

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 ...