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The overlapping generations (OLG) model is one of the dominating frameworks of analysis in the study of macroeconomic dynamics and economic growth.In contrast to the Ramsey–Cass–Koopmans neoclassical growth model in which individuals are infinitely-lived, in the OLG model individuals live a finite length of time, long enough to overlap with at least one period of another agent's life.
A major feature which sets overlapping generations models in economics apart from the standard model with a finite number of infinitely lived individuals is that the First Welfare Theorem might not hold—that is, competitive equilibria may be not be Pareto optimal.
Non-overlapping generations are found in species in which the adult generation dies after one breeding season. If a species for instance can only survive winter in the juvenile state the species will automatically consist of non-overlapping generations. The bee Amegilla dawsoni, an example of a species with non-overlapping generations
A word n-gram language model is a purely statistical model of language. It has been superseded by recurrent neural network–based models, which have been superseded by large language models. [1] It is based on an assumption that the probability of the next word in a sequence depends only on a fixed size window of previous words.
Concurrent programming languages and multiprocessor programs must have a consistency model (also known as a memory model). The consistency model defines rules for how operations on computer memory occur and how results are produced. One of the first consistency models was Leslie Lamport's sequential consistency model. Sequential consistency is ...
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For example, the problem of computing the Fibonacci sequence exhibits overlapping subproblems. The problem of computing the nth Fibonacci number F(n), can be broken down into the subproblems of computing F(n − 1) and F(n − 2), and then adding the two.
In epidemiology, the next-generation matrix is used to derive the basic reproduction number, for a compartmental model of the spread of infectious diseases. In population dynamics it is used to compute the basic reproduction number for structured population models. [1] It is also used in multi-type branching models for analogous computations. [2]