Publication:
A statistical model of the firm
| DC Field | Value | |
|---|---|---|
| dc.contributor.author | Baaquie, Belal E. | |
| dc.date.accessioned | 2019-08-20T01:28:03Z | |
| dc.date.available | 2019-08-20T01:28:03Z | |
| dc.date.issued | 2019 | |
| dc.description.abstract | A model of the firm is proposed that considers the firm to be a stochastic and random entity described by an action functional and the Feynman path integral. The action functional is postulated based on the profit maximization principle. The Cobb-Douglas production function and the Solow-Swan model for capital input are employed to define a specific model for the firm's action functional. An option is defined on the profit of a firm in the framework of the statistical model. The option's price can be studied empirically. A profit and loss sharing system of wages is defined as an extension of fixed wages. | en_US |
| dc.identifier.citation | Baaquie, Belal E. (2019). A statistical model of the firm. Physica A: Statistical Mechanics and its Applications, 524, pp. 392-411. | en_US |
| dc.identifier.doi | https://doi.org/10.1016/j.physa.2019.04.069 | |
| dc.identifier.issn | 0378-4371 | |
| dc.identifier.uri | https://www.sciencedirect.com/science/article/pii/S0378437119304170?via%3Dihub | |
| dc.identifier.uri | https://ikr.inceif.org/handle/INCEIF/3078 | |
| dc.language | English | |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier B.V. | en_US |
| dc.rights | 2019. Elsevier B.V. | |
| dc.source | SEDONA | |
| dc.subject | Statistical model | en_US |
| dc.subject | Firm | en_US |
| dc.subject | Profit maximization | en_US |
| dc.title | A statistical model of the firm | en_US |
| dc.type | Journal Article | en_US |
| dlc.maintopic | Conventional finance | en_US |
| dspace.entity.type | Publication | |
| ikr.doctype | Scholarly Works | |
| ikr.topic.maintopic | Conventional finance | en_US |
| Appears in Collections |