A new mathematical model driven by the Theory of Complexity applied to the relation between economic variables, money demand and blockchain crypto-coin application
*Gerardo IovaneCorresponding authorgiovane@unisa.itDepartment of Computer ScienceUniversity of SalernoFisciano (SA), 84084, Italy0000-0002-3119-4608View full profile → , Massimo Ceccobellimceccobelli@luiss.itDepartment of Business and ManagementLibera Università International degli Studi Sociali (L.U.I.S.S.)Rome, ItalyView full profile →
* Corresponding author · click or hover a name for details
- Received:
- 07 Aug 2024
- Published Online:
- 07 Oct 2025
- Article type:
- Research Article
- Language:
- EN
- Article no.:
- JIM-2186
- Pages:
- 337–361
Abstract
Keywords
Subject Classifications
References
[1] J. R. Hicks and M. Friedman, “The optimum quantity of money,” The Economic Journal, vol. 80, no. 319, pp. 669–672 (Sep. 1970), doi: 10.2307/2229959.
[2] J. M. Keynes, The General Theory of Employment, Interest and Money, Cham: Springer, Palgrave Macmillan, pp. 404 (2018), doi: 10.1007/978-3-319-70344-2.
[3] H. R. Varian, Intermediate Microeconomics: A Modern Approach, New York, NY: W. W. Norton & Company (2014).
[4] R. S. Pindyck and D. L. Rubinfeld, Microeconomics, Boston, MA: Pearson (2017).
[5] W. Nicholson, Microeconomic Theory: Basic Principles and Extensions, Boston, MA: Cengage Learning (2019).
[6] H. Markowitz, “Portfolio selection,” The Journal of Finance, vol. 7, no. 1, pp. 77–91 (1952).
[7] J. Lintner, “The valuation of risk assets and the selection of risky investments in stock portfolios and capital budgets,” The Review of Economics and Statistics, vol. 47, no. 1, pp. 13–37 (1965).
[8] J. W. Pratt, “Risk aversion in the small and in the large,” Econometrica, vol. 32, no. 1/2, pp. 122–136 (1964).
[9] J. R. Hicks, “Mr. Keynes and the ‘Classics’: A suggested interpretation,” Econometrica, vol. 5, no. 2, pp. 147–159 (1937).
[10] D. Patinkin, Money, Interest, and Prices: An Integration of Monetary and Value Theory, New York, NY: Harper & Brothers (1956).
[11] P. R. Krugman and M. Obstfeld, International Economics: Theory and Policy, Boston, MA: Pearson (2017).
[12] K. Rogoff, “The purchasing power parity puzzle,” Journal of Economic Literature, vol. 34, no. 2, pp. 647–668 (1996).
[13] M. P. Taylor, International Macroeconomics, Oxford, UK: Oxford University Press (2014).
[14] D. Kahneman and A. Tversky, “Prospect theory: An analysis of decision under risk,” Econometrica, vol. 47, no. 2, pp. 263–292 (1979).
[15] A. Tversky and D. Kahneman, “The framing of decisions and the psychology of choice,” Science, vol. 211, no. 4481, pp. 453–458 (1981).
[16] D. Kahneman and A. Tversky, “Advances in prospect theory: Cumulative representation of uncertainty,” Journal of Risk and Uncertainty, vol. 5, no. 4, pp. 297–323 (1992).
[17] A. Tversky and D. Kahneman, “Loss aversion in riskless choice: A reference-dependent model,” The Quarterly Journal of Economics, vol. 106, no. 4, pp. 1039–1061 (1992).
[18] D. Kahneman and A. Tversky, “Choices, values, and frames,” American Psychologist, vol. 39, no. 4, pp. 341–350 (1992).
[19] D. Kahneman and A. Tversky, “Prospect theory: Much ado about nothing?” Judgment and Decision Making, vol. 1, no. 1, pp. 53–58 (1999).
[20] A. Tversky and D. Kahneman, “Choices, values and frames,” in Choices, Values, and Frames, D. Kahneman and A. Tversky, Eds., Cambridge, UK: Cambridge University Press, pp. 7–36 (2000).
[21] D. Kahneman and A. Tversky, “Prospect theory: For risk and ambiguity,” Journal of Economic Perspectives, vol. 15, no. 1, pp. 45–61 (2000).
[22] A. Panwar and V. Bhatnagar, “Analyzing the performance of data processing in private blockchain based distributed ledger,” Journal of Information and Optimization Sciences, vol. 41, no. 6, pp. 1407–1418 (2020), doi: 10.1080/02522667.2020.1809095.
[23] M. Miah, S. J. Miah, and S. Venkatraman, “Blockchain: At a glance idea for information science researchers,” Journal of Information and Optimization Sciences, vol. 42, no. 7, pp. 1589–1624 (2021), doi: 10.1080/02522667.2021.1930644.
[24] G. Iovane, A. Briscione, and E. Benedetto, “Financion: A quantum approach to financial market modelling,” Journal of Statistics and Management Systems, vol. 24, pp. 1127–1149 (2021).




