Exact probability distribution function for the volatility of cumulative production

Rubina Zadourian and Andreas Klümper

Physica A: Statistical Mechanics and its Applications, 2018, vol. 495, issue C, 59-66

Abstract: In this paper we study the volatility and its probability distribution function for the cumulative production based on the experience curve hypothesis. This work presents a generalization of the study of volatility in Lafond et al. (2017), which addressed the effects of normally distributed noise in the production process. Due to its wide applicability in industrial and technological activities we present here the mathematical foundation for an arbitrary distribution function of the process, which we expect will pave the future research on forecasting of the production process.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:495:y:2018:i:c:p:59-66

DOI: 10.1016/j.physa.2017.12.003

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