On modeling with multiplicative differential equations |
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| Authors: | Agamirza E. Bashirov Emine Mısırlı Yücel Tandoğdu Ali Özyapıcı |
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| Affiliation: | [1]Department of Mathematics, Eastern Mediterranean University, Gazimagusa, via Mersin 10, Turkey, [2]Department of Mathematics, Ege University, Izmir, Turkey [3]Department of Mathematics, Eastern Mediterranean University, Gazimagusa, via Mersin 10, Turkey. [4]Department of Computer Engineering, Lefke European University, Gemikonagi, via Mersin 10, Turkey. |
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| Abstract: | This work is aimed to show that various problems from different fields can be modeled more efficiently using multiplicative calculus, in place of Newtonian calculus. Since multiplicative calculus is still in its infancy, some effort is put to explain its basic principles such as exponential arithmetic, multiplicative calculus, and multiplicative differential equations. Examples from finance, actuarial science, economics, and social sciences are presented with solutions using multiplicative calculus concepts. Based on the encouraging results obtained it is recommended that further research into this field be vested to exploit the applicability of multiplicative calculus in different fields as well as the development of multiplicative calculus concepts. |
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| Keywords: | Gompertz function elasticity exponential arithmetic multiplicative calculus growth. |
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