Feichtinger, G., Grass, D., & Winkler-Dworak, M. (2020). The Mathematics of Ageing. Central European Journal of Operations Research, 28(2), 371–399. https://doi.org/10.1007/s10100-019-00661-w
E105-04 - Forschungsbereich Variationsrechnung, Dynamische Systeme und Operations Research
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Journal:
Central European Journal of Operations Research
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ISSN:
1435-246X
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Date (published):
Jun-2020
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Number of Pages:
29
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Publisher:
SPRINGER
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Peer reviewed:
Yes
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Keywords:
optimal control; Management Science and Operations Research; scientific production over the life cycle; Age-structured models; optimal recruitment of learned societies.
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Abstract:
Age is a crucial variable in social sciences and particularly in population dynamics. In the first part of this paper, a two-state optimal control model is proposed to explain the substantial variations of scientific production over the life cycle of researchers. We identify conditions under which typical hump-shaped age-specific patterns of scientific production turn out to be optimal for individual researchers. The second part of the paper deals with the ageing of learned societies. In a nutshell, the dilemma of a learned society is that keeping young, i.e. electing young entrants, has the drawback of reducing the replacement rate of members. It turns out that electing a mix of young and old members delivers the optimal solution of the problem, i.e. guaranteeing a young age structure, while ensuring a high recruitment rate.
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Research Areas:
Mathematical Methods in Economics: 70% Modelling and Simulation: 30%