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Koopman Operators and Extended Dynamic Mode Decomposition for Economic Growth Models in Terms of Fractional Derivatives

In: Essays on Financial Analytics

Author

Listed:
  • John Leventides

    (National and Kapodistrian University of Athens)

  • Evangelos Melas

    (National and Kapodistrian University of Athens)

  • Costas Poulios

    (National and Kapodistrian University of Athens)

  • Paraskevi Boufounou

    (National and Kapodistrian University of Athens)

Abstract

We apply the Koopman operator theory and Extended Dynamic Mode Decomposition (EDMD) in a non-linear dynamical system. This system describes the capital accumulation, and it is similar to the Solow-Swan model and the Ramsey-Cass-Koopmans model. However, the usual derivative is replaced with a fractional derivative. This dynamical system is approximated by a finite-dimensional linear system which is defined in some augmented state space. However, because of the presence of the fractional derivative, one expects that the dimension of the linear system will be quite bigger.

Suggested Citation

  • John Leventides & Evangelos Melas & Costas Poulios & Paraskevi Boufounou, 2023. "Koopman Operators and Extended Dynamic Mode Decomposition for Economic Growth Models in Terms of Fractional Derivatives," Lecture Notes in Operations Research, in: Pascal Alphonse & Karima Bouaiss & Pascal Grandin & Constantin Zopounidis (ed.), Essays on Financial Analytics, pages 37-44, Springer.
    • Handle: RePEc:spr:lnopch:978-3-031-29050-3_3
    DOI: 10.1007/978-3-031-29050-3_3
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