Study of the grey Verhulst model based on the weighted least square method

Liwei Tang and Yayun Lu

Physica A: Statistical Mechanics and its Applications, 2020, vol. 545, issue C

Abstract: Analysis is conducted on the sources of several fitting errors of the grey Verhulst model, including approximation construction of the background value, inconsistency among the parameters of the difference and differential forms, the objective function setting of parameter estimation, and so on. However, constructing the precise background value of this model is complicated. A new parameter estimation method based on weighted least squares is proposed by transforming the model and using the approximate transformation of the objective function. Moreover, weights are determined by the converted form of target functions. In addition, the properties of the model under the new parameter form are studied. The proposed model avoids the process of precise background value construction as well as conversion from differential to difference equations. Empirical analysis shows that the method is effective.

Keywords: Grey Verhulst model; Background value; Differential equation; Weighted least square method (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0378437119320163
Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:545:y:2020:i:c:s0378437119320163

DOI: 10.1016/j.physa.2019.123615

Access Statistics for this article

Physica A: Statistical Mechanics and its Applications is currently edited by K. A. Dawson, J. O. Indekeu, H.E. Stanley and C. Tsallis

More articles in Physica A: Statistical Mechanics and its Applications from Elsevier
Bibliographic data for series maintained by Catherine Liu ().