A rate-dependent probabilistic model of hysteresis

Rod Cross; Michael Grinfeld; Harbir Lamba

doi:10.3390/math12243924

A rate-dependent probabilistic model of hysteresis

Rod Cross, Michael Grinfeld^*, Harbir Lamba

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

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Abstract

Instead of modelling an economic agent by a hysteron, we suggest a fluid–mechanical notion of rate-dependent hysteretic agents based on the theory of Poisson counters. It leads to a simple representation of assemblies of such agents. We discuss the properties of the new version of hysteresis and its advantages over classical models of hysteresis in economics.

Original language	English
Article number	3924
Number of pages	8
Journal	Mathematics
Volume	12
Issue number	24
DOIs	https://doi.org/10.3390/math12243924
Publication status	Published - 13 Dec 2024

Keywords

hysteresis
supply and demand
Poisson counters

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10.3390/math12243924Licence: CC BY 4.0

Cross-etal-Mathematics-2024-A-rate-dependent-probabilistic-model-of-hysteresisFinal published version, 253 KBLicence: CC BY 4.0

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AB - Instead of modelling an economic agent by a hysteron, we suggest a fluid–mechanical notion of rate-dependent hysteretic agents based on the theory of Poisson counters. It leads to a simple representation of assemblies of such agents. We discuss the properties of the new version of hysteresis and its advantages over classical models of hysteresis in economics.

KW - hysteresis

KW - supply and demand

KW - Poisson counters

U2 - 10.3390/math12243924

DO - 10.3390/math12243924

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JO - Mathematics

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A rate-dependent probabilistic model of hysteresis

Abstract

Keywords

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