Genesis and development of modeling in the context of socio-economic project development

Обушний, Сергій Миколайович and Новіков, Артем Вікторович (2023) Genesis and development of modeling in the context of socio-economic project development European scientific journal of Economic and Financial innovation (1(11)). pp. 165-176. ISSN 2617-8648

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The article analysesthe evolution and impact of modeling on the socio-economic development of projects. The authors analyze the development of knowledge in probability theory and its role in predicting future eventsfor projects. In the 19th century, scientists made significant contributions to the development of statistics and the application of probabilistic methods in statistical research. In the latter half of the 19th century, Bayesian statistics was developed, allowing for the consideration of prior knowledge and updating it based on new evidence. In the 20th century, researchers developed mathematical models that combined probability theory with economics and decision-making. These models became the basis for risk assessment and decision-making based on event probabilities, opening the way for forecasting the future considering risks and their consequences.The article emphasizes that modeling is one of the key methods of understanding and finds wide application in various scientific disciplines and practical tasks. Modeling allows for the creation of simplified abstract representations of real systems to study their properties, interactions, and behavior prediction under different conditions. Modeling encompasses mathematical, physical, computational, and conceptual approaches, enabling the simplified representation of real systems for studying their properties, interactions, and behavior prediction under different conditions.The article also discusses the use of modern tools such as Big Data, quantum computers, agent-based modeling, digital twins, system dynamics, machine learning, and others. These tools help improve the modeling process and expand its capabilities in forecasting and decision-making.The concluding part of the article highlights the need to consider ethical and moral aspects and the role of humans in the decision-making process based on modeling and analysis results. Considering these aspects is important in the implementation of projects that have significant socio-economic implications for the future of society.

Item Type: Article
Uncontrolled Keywords: genesis of modeling; probability and prediction; statistical methods; mathematical models; modern modeling methods; ethical and moral aspects of modeling and decision-making
Subjects: Статті у журналах > Фахові (входять до переліку фахових, затверджений МОН)
Divisions: Факультет економіки та управління > Кафедра фінансів
Depositing User: Сергій Миколайович Обушний
Date Deposited: 27 Jun 2023 11:35
Last Modified: 27 Jun 2023 11:35

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