Models for Nonlinear Decisions Overview and Two Case Examples in Finance and Energy

Ionut Purica, Lucian Albu (), Marioara Iordan and Sorin Dinu
Additional contact information
Marioara Iordan: Institute for Economic Forecasting, Romanian Academy.
Sorin Dinu: Institute for Economic Forecasting, Romanian Academy.

Journal for Economic Forecasting, 2020, issue 2, 194-201

Abstract: The latest years evolutions in the financial and economic world have once more proven that the models used to describe the behavior of given systems should be extended and the approach on which they are based should change from linear to nonlinear. A series of such models are described in the paper, with a synthesis of the main features of nonlinear behavior, and a case example is presented on how to describe in order to be able to predict the discontinuous decision associated with the financial crises and with the technological evolution of the energy systems. Suggestions are made on the need to control crises and not to eliminate them if one wants to better adapt to a nonlinear world dynamic and on the optimal scenarios for the penetration of fuel cell technologies for energy production.

Keywords: Nonlinear models; discontinuous decisions; financial crises; energy technologies (search for similar items in EconPapers)
JEL-codes: C3 C61 C62 D7 D87 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2020:i:2:p:194-201

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