Considerations on the stochastic approach in economics

Ion Smeureanu () and Gheorghe Ruxanda
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Ion Smeureanu: Bucharest University of Economic Studies, Romania
Gheorghe Ruxanda: Bucharest University of Economic Studies, Romania

The AMFITEATRU ECONOMIC journal, 2013, vol. 15, issue 34, 401-416

Abstract: This paper presents several views on stochastic aspects in economic modeling. The authors analyzed the necessity of stochastic approach in economics, they described the specificity of stochastic models in this field and they presented the premises of this approach as well as the tools used. An analogy on stochastic events in economics and physics is also presented. Some views on the stochastic approach in production and energy consumption models are presented in the final part of the paper.

Keywords: stochastic approach; stochastic modeling of energy; probability distribution; statistic inference; econometrics; risk and uncertainty. (search for similar items in EconPapers)
JEL-codes: C01 C40 C51 D81 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:15:y:2013:i:34:p:401-416

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