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A Note on Caputo’s Derivative Operator Interpretation in Economy

Author

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  • Hameed Ur Rehman
  • Maslina Darus
  • Jamal Salah

Abstract

We propound the economic idea in terms of fractional derivatives, which involves the modified Caputo’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 Caputo’s derivative operator of order instead of integer order derivative . The two sides of Caputo’s derivative are expressed by a brief time-line. The degree of attenuation is further depressed by involving the modified Caputo’s operator.

Suggested Citation

  • Hameed Ur Rehman & Maslina Darus & Jamal Salah, 2018. "A Note on Caputo’s Derivative Operator Interpretation in Economy," Journal of Applied Mathematics, Hindawi, vol. 2018, pages 1-7, October.
    • Handle: RePEc:hin:jnljam:1260240
    DOI: 10.1155/2018/1260240
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    Cited by:

    1. Vasily E. Tarasov, 2019. "Rules for Fractional-Dynamic Generalizations: Difficulties of Constructing Fractional Dynamic Models," Mathematics, MDPI, vol. 7(6), pages 1-50, June.
    2. Vasily E. Tarasov, 2023. "General Fractional Calculus in Multi-Dimensional Space: Riesz Form," Mathematics, MDPI, vol. 11(7), pages 1-20, March.
    3. Vasily E. Tarasov, 2019. "On History of Mathematical Economics: Application of Fractional Calculus," Mathematics, MDPI, vol. 7(6), pages 1-28, June.
    4. Shi, Jianping & He, Ke & Fang, Hui, 2022. "Chaos, Hopf bifurcation and control of a fractional-order delay financial system," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 194(C), pages 348-364.

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