A Rate-Dependent Probabilistic Model of Hysteresis

Rod Cross, Michael Grinfeld () and Harbir Lamba
Additional contact information
Michael Grinfeld: Department of Mathematics and Statistics, University of Strathclyde, Glasgow G1 1XH, UK
Harbir Lamba: Department of Mathematical Sciences, George Mason University, Fairfax, VA 22030, USA

Mathematics, 2024, vol. 12, issue 24, 1-8

Abstract: Instead of modelling an economic agent by a hysteron, we suggest a fluid–mechanical notion of rate-dependent hysteretic agents based on the theory of Poisson counters. It leads to a simple representation of assemblies of such agents. We discuss the properties of the new version of hysteresis and its advantages over classical models of hysteresis in economics.

Keywords: hysteresis; supply and demand; Poisson counters (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2227-7390/12/24/3924/pdf (application/pdf)
https://www.mdpi.com/2227-7390/12/24/3924/ (text/html)

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:gam:jmathe:v:12:y:2024:i:24:p:3924-:d:1542833

Access Statistics for this article

Mathematics is currently edited by Ms. Emma He

More articles in Mathematics from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().