Title: Random contractions in continuous discounting of Bernoulli selecting processes arising in systemics

Authors: Constantinos T. Artikis

Addresses: Risk and Reliability Engineering Research Group, University of Bradford, West Yorkshire, BD 7 1DP, UK

Abstract: The formulation, investigation, and application of stochastic models constitute research activities of exceptional theoretical and practical importance. In particular, stochastic discounting models are adopted as strong analytical tools with very extensive applicability for solving difficult problems in a very wide variety of practical disciplines. The main research intention of the paper is the theoretical investigation of a formulated stochastic discounting model. More precisely, the paper establishes sufficient conditions for embedding the formulated stochastic discounting model into the extremely useful class of random contractions of Bernoulli selecting processes. Moreover, the paper makes quite clear the role of the formulated stochastic model in the leading discipline of systemics.

Keywords: systemics; stochastic discounting models; random contractions; continuous discounting; Bernoulli selection; stochastic modelling.

DOI: 10.1504/IJASS.2016.10003032

International Journal of Applied Systemic Studies, 2016 Vol.6 No.4, pp.294 - 301

Received: 01 Oct 2014
Accepted: 31 Aug 2015

Published online: 09 Feb 2017 *

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