A Rate-Dependent Probabilistic Model of Hysteresis

A Rate-Dependent Probabilistic Model of Hysteresis

Instead of modelling an economic agent by a hysteron, we suggest a fluid–mechanical notion of rate-dependent hysteretic agents based on the theory of Poisson counters. It leads to a simple representation of assemblies of such agents. We discuss the properties of the new version of hysteresis and its...

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Bibliographic Details
Main Authors: Rod Cross, Michael Grinfeld, Harbir Lamba
Format: Article
Language:English
Published: MDPI AG 2024-12-01
Series:Mathematics
Subjects:
hysteresis
supply and demand
Poisson counters
Online Access:https://www.mdpi.com/2227-7390/12/24/3924
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