Laplace Transform Method for Economic Models with Constant Proportional Caputo Derivative
Esra Karataş Akgül, Ali Akgül, Dumitru Bǎleanu
Abstract
In this study, we solved the economic models based on market equilibrium with constant proportional Caputo derivative using the Laplace transform. We proved the accuracy and efficiency of the method. We constructed the relations between the solutions of the problems and bivariate Mittag–Leffler functions.
Topics & Concepts
Laplace transformConstant (computer programming)Bivariate analysisMathematicsInverse Laplace transformApplied mathematicsDerivative (finance)Laplace transform applied to differential equationsTwo-sided Laplace transformMathematical analysisMellin transformFourier transformComputer scienceStatisticsEconomicsFourier analysisFractional Fourier transformFinancial economicsProgramming languageFractional Differential Equations SolutionsDifferential Equations and Boundary ProblemsIterative Methods for Nonlinear Equations