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Review of Matrix Theory with Applications in Economics and Finance

Author

Listed:
  • Dao Le Kieu Oanh

    (Ho Chi Minh University of Banking, Ho Chi Minh City, Vietnam.)

  • Le Dinh Hac

    (Ho Chi Minh University of Banking, Ho Chi Minh City, Vietnam.)

  • Do Phuong Thao

    (Faculty of Accounting - Auditing, Ho Chi Minh City Open University)

  • Shin-Hung Pan

    (Department of M-Commerce and Multimedia Applications, Asia University, Taiwan)

Abstract

Matrix theory plays a vital role in Mathematics and several other sciences due to its numerous applications. The topic of matrix theory has a lot of great content for discussion and research. It offers countless beautiful theorems that are straightforward and yet striking in their formulation, uncomplicated and yet ingenious in their proof, and diverse as well as powerful in their application. In the current period, the countries in the world most concerned are Economics and Finance. To the best of our knowledge, these two sciences have the most significant impact on the development and sustainability of each nation in the world. This paper presents the application of matrix theory to important and ubiquitous problems in Economics and Finance, namely, the problem of determining capital demands and the problem defining the quantity of each type of product. Furthermore, we also introduce applications of matrix theory in Decision Sciences to help readers have an overview of applications of matrix theory in other fields.

Suggested Citation

  • Dao Le Kieu Oanh & Le Dinh Hac & Do Phuong Thao & Shin-Hung Pan, 2022. "Review of Matrix Theory with Applications in Economics and Finance," Advances in Decision Sciences, Asia University, Taiwan, vol. 26(3), pages 54-74, September.
    • Handle: RePEc:aag:wpaper:v:26:y:2022:i:3:p:54-74
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    Cited by:

    1. Wang, Xiang & Yin, Jian & Yang, Yao & Muda, Iskandar & Abduvaxitovna, Shamansurova Zilola & AlWadi, Belal Mahmoud & Castillo-Picon, Jorge & Abdul-Samad, Zulkiflee, 2023. "Relationship between the resource curse, Forest management and sustainable development and the importance of R&D Projects," Resources Policy, Elsevier, vol. 85(PA).

    More about this item

    Keywords

    Matrix theory; Review; Applications; Finance; Economics;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy

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