A NEW MATHEMATICAL MODEL TO DETERMINE LOSS IN INTERCONNECTED INDUSTRY SYSTEMS
Journal Title: European Journal of Business and Social Sciences - Year 2014, Vol 2, Issue 10
Abstract
In this paper, the terms disaster is conceptualised and explained as an event or a group of events with the corresponding outcomes. An event is described in detail by its severity and size. The corresponding numerical outcome of the event is redefined by magnitude of damage. The damage may be categorised as physical, social, and psychological and the consequential aspect of damage may be shown as the economic loss. The loss can be the output degradation of one industry of the economy. The relationships between the various aspects of the damage mentioned are clarified in this paper. The outputdegradation may spread to other industries in an economy through the interaction linkages between the affected industry and other industries. In this paper, a new mathematical model is developed based on the input-output model. The model can measure the economic loss via interconnected linkage and the parameters of the model are estimated by three innovative methods. The stability, limitation, and application of the model are also discussed and the event size distribution is considered as an additional random factor. Therefore a random distribution is linked to the model and the model is tested with a numerical example.
Authors and Affiliations
Seyed Abdelhamid Shobeiri Nejad| Phd candidate in Applied Mathematics, Environmental Futures Centre Science, Environment, Engineering and Technology [ENV], Gurudeo Anand Tularam| Senior Lecturer in Mathematics and Statistics Science, Environment, Engineering and Technology [ENV], James McBroom| Lecturer in Mathematics and Statistics Science, Environment, Engineering and Technology [ENV]
Keywords
Related Articles
- EP ID EP10339
- DOI -
- Views 325
- Downloads 16
EVALUATION OF CUSTOMER SERVICE AND RETENTION; A COMPARATIVE ANALYSIS OF TELECOMMUNICATION SERVICE PROVIDERS
For a product to receive complete loyalty depends not only on the quality of the product but also on the satisfaction derived from such product. All three, loyalty, quality and satisfaction are significant factors tha...
THE ANTECEDENT VARIABLES OF ATTITUDE IN FORMING INTENTION TO SWITCH SMARTPHONE (The Survey Study: Samsung Brand in Surakarta)
The intention to switch smartphone is an interesting issue to be studied, because it can be used to elaborate the consumers’ intention to switch otherwise give insights and stimuli for marketer to maintain their rel...
FACTORS INFLUENCING THE SUCCESSFUL ENTREPRENEURSHIP OF IMMIGRANTS: THE CASE OF KAVALA AND DRAMA CITY
The aim of this paper is to investigate the relationship between demographic data and motivation of immigrant entrepreneurs with the perceived course of their businesses. The methodology that was used for this survey...
THE RECOMMENDATIONS IMPROVING SERVICE QUALITY OF COMMERCIAL BANKS INTO THE TRANS-PACIFIC PARTNERSHIP (TPP)
The banking system is a catalyst and engine of growth that is responsible for being a life wire to every sector of the economy. It is evident that no sector in the economy can flourish or prosper without the support a...
PERSONALITY CHARACTERISTICS AND BUSINESS PHILOSOPHY: AN ENTREPRENEURSHIP EXPERIMENT
Although entrepreneurship field can be considered partially as a habitat or cultural phenomenon, most of the studies in the area focus on individual entrepreneur and his/her personality characteristics and demographic...