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Fractional Deterministic Factor Analysis of Economic Processes with Memory and Nonlocality

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Chaotic, Fractional, and Complex Dynamics: New Insights and Perspectives

Part of the book series: Understanding Complex Systems ((UCS))

Abstract

In this paper, we describe an application of the fractional calculus to factor analysis of dynamic systems in economy. Basic concepts and methods that allow us to take into account the effects of memory and nonlocality in deterministic factor analysis are suggested. These methods give a quantitative description of the influence of individual factors on the change of the effective economic indicator. We suggested two methods of fractional integro-differentiation of non-integer order for the deterministic factor analysis of economic processes. It has been shown that these methods, which are based on the integro-differentiation of non-integer order, can give more accurate results than the standard methods of factor analysis, which are based on differentiation and integration of integer orders.

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Author information

Authors and Affiliations

  1. Lomonosov Moscow State University Business School, Lomonosov Moscow State University, Leninskie Gory, 1 (52A), Moscow, 119991, Russia

    Valentina V. Tarasova

  2. Skobeltsyn Institute of Nuclear Physics, Lomonosov Moscow State University, Leninskie Gory, 1 (2), Moscow, 119991, Russia

    Vasily E. Tarasov

Authors
  1. Valentina V. Tarasova
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  2. Vasily E. Tarasov
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Correspondence to Valentina V. Tarasova .

Editor information

Editors and Affiliations

  1. Stern College for Women, Yeshiva University, New York, New York, USA

    Mark Edelman

  2. INPE/LAC, Instituto Nacional de Pesquisas Espaciai, São José dos Campos, São Paulo, Brazil

    Elbert E. N. Macau

  3. Departamento de Fisica, Universidad Rey Juan Carlos, Móstoles, Madrid, Spain

    Miguel A. F. Sanjuan

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Tarasova, V.V., Tarasov, V.E. (2018). Fractional Deterministic Factor Analysis of Economic Processes with Memory and Nonlocality. In: Edelman, M., Macau, E., Sanjuan, M. (eds) Chaotic, Fractional, and Complex Dynamics: New Insights and Perspectives. Understanding Complex Systems. Springer, Cham. https://doi.org/10.1007/978-3-319-68109-2_9

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