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 328
- Downloads 16
Perceptions of Nigerian Secondary School Students on the Socio-economic and Socio-cultural factors hindering Educational achievement: A Gender Focus
Efforts have not been directed toward examining variations in the perceptions of both male and female students with regard to the socio-economic and socio-cultural variables underpinning secondary educational achievem...
ASSESSING SUSTAINABILITY OF RURAL WATER PROJECTS IN NAIVASHA, KENYA, CASE STUDY: MARAIGUSHU WATER PROJECT
As the world hurried to achieve the millennium Development Goal number 7 which aimed at halving the population accessing safe and improved drinking water, many water development projects were undertaken in the developi...
LEVEL OF DEPRESSION, SELF-ESTEEM AND LIFE SATISFACTION AMONG INFERTILE FEMALE
The aim of the current study was to check the level of depression, selfesteem and life satisfaction among infertile females. To investigate how infertility effects on female’s life. The 120 participant selected as a...
EFFECTS OF COMPETITION ON THE PROFITABILITY OF CEMENT MANUFACTURERS IN KENYA
The main objective of this study was to identify the effects of competition on the profitability of cement manufacturers in Kenya. This study adopted a survey research design while, stratified random sampling was used...
DOES MEMBERSHIP IN MUTUAL HEALTH INSURANCE GUARANTEE QUALITY HEALTH CARE? SOME EVIDENCE FROM GHANA
Access to health care and quality of health care are inextricably linked. Not merely is access to health care important, but also its quality: hence the apparent increasing demands for health care services where they...