A Note on Caputo’s Derivative Operator Interpretation in Economy
Hameed Ur Rehman (),
Maslina Darus () and
Jamal Salah ()
Journal of Applied Mathematics, 2018, vol. 2018, 1-7
We propound the economic idea in terms of fractional derivatives, which involves the modified Caputoâ€™s fractional derivative operator. The suggested economic interpretation is based on a generalization of average count and marginal value of economic indicators. We use the concepts of which analyses the economic performance with the presence of memory. The reaction of economic agents due to recurrence identical alteration is minimized by using the modified Caputoâ€™s derivative operator of order instead of integer order derivative . The two sides of Caputoâ€™s derivative are expressed by a brief time-line. The degree of attenuation is further depressed by involving the modified Caputoâ€™s operator.
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnljam:1260240
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