{"product_id":"algebra-and-discrete-mathematics-for-economics-numbers-graphs-and-matrices-in-input-output-economics-9783112234426","title":"Algebra and Discrete Mathematics for Economics: Numbers, Graphs and Matrices in Input-Output Economics","description":"\u003cp\u003e • Author(s): Klaus Denecke\u003cbr\u003e • Publisher: de Gruyter\u003cbr\u003e • Publisher Imprint: de Gruyter\u003cbr\u003e • BISAC: Algebra - General\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eAlgebra and Discrete Mathematics are essential tools also for economists. \u003cbr\u003eGlobalization makes that goods and services are exchanged worldwide. Input-output analysis uses the advantage of a relatively stable flow of commodities and services. The essential principles can be described by input-output tables. Such tables correspond to systems of linear equations, written as single equations consisting of matrices whose entries are non-negative rational numbers. The flow itself can be described by a directed edge-valued graph where the sets of values consist of positive rational numbers. Therefore numbers, especially non-negative rational numbers, multiple-partite graphs and matrices with non-negative rational entries play an important role in input-output analysis. Thus knowledge from Algebra and Discrete Mathematics becomes more and more useful in this area.\u003cbr\u003eWe will consider a particular set of graphs, the so-called input-output graphs and a particular set of matrices, the input-output matrices, define a partial binary operation on each of these sets and prove that we obtain weakly isomorphic weakly partial semigroups. The result of considering this situation can be applied to multiple-step production processes, to material reqirements planning and to internal cost allocation of a business. \u003cbr\u003eThe results show that Algebra and Discrete Mathematics are quite useful for mathematical modeling in Economy.\u003c\/p\u003e","brand":"de Gruyter","offers":[{"title":"Paperback","offer_id":47966688411799,"sku":"9783112234426","price":6028.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9783112234426.webp?v=1782911840","url":"https:\/\/atlanticbooks.com\/products\/algebra-and-discrete-mathematics-for-economics-numbers-graphs-and-matrices-in-input-output-economics-9783112234426","provider":"Atlantic Books","version":"1.0","type":"link"}