Progress in Fractional Differentiation & Applications
Article Title
Abstract
An economic interpretation of the Caputo derivatives of non-integer orders is proposed. The suggested economic interpretation of the fractional derivatives is based on a generalization of average and marginal values of economic indicators. We formulate an economic interpretation by using the concept of the T-indicator that allows us to describe economic processes with memory. The standard average and marginal values of indicator are special cases of the proposed T-indicator, when the order is equal to zero and one, respectively. The fractional derivatives are interpreted as economic characteristics (indicators) that are intermediate between the standard average and marginal values of indicators.
Suggested Reviewers
N/A
Digital Object Identifier (DOI)
http://dx.doi.org/10.18576/pfda/030101
Recommended Citation
V. Tarasova, Valentina and E. Tarasov, Vasily
(2017)
"Economic Interpretation of Fractional Derivatives,"
Progress in Fractional Differentiation & Applications: Vol. 3:
Iss.
1, Article 1.
DOI: http://dx.doi.org/10.18576/pfda/030101
Available at:
https://digitalcommons.aaru.edu.jo/pfda/vol3/iss1/1