In this paper, we present a multi-formalism modeling framework (abbreviated by MFMF) for modeling and simulation. The proposed framework is defined based on the concepts of meta-models and uses object-orientation to overcome the complexities and to enhance the extensibility. The framework can be used as a basis for modeling by various formalisms and to support model composition in a unified man...

Current climate variability is already imposing significant challenge to Ethiopia. Therefore, farmers have faced income variability in almost every production season. Problems associated with dependence on rain fed agriculture are common in Ethiopia. Smallholder farmers’ vulnerability from such income variability is also common. Over the years, a range of risk management strategies have been us...

Using renewable energy for domestic consumption has been identified as a key strategy by the Intergovernmental Panel on Climate Change to reduce greenhouse gas emissions. Critical to the success of this strategy is to know whether consumers are willing to pay to increase the proportion of electricity generated from renewable energy in their electricity portfolio. There are a number of studies i...

abstract by using cross-section data which gathered through a survey research in mashhad ,contingent valuation approach and tobit model this study tries to determine economical value of air pollution and effective factors on wtp. based on contingent valuation approach, air pollution total value of airpollution in high-polluted region equals 7134146560 rials per month and in middle-polluted regi...

Nowadays, tourism related activities are widely regarded as key tools for rural development. Accordingly, it would be worthwhile to estimate the recreational value of Javaherdeh Village, in order to propose a better management plan for attracting more tourists to this place. This research employed a contingent valuation method to determine the recreational value and individual willingness to pa...

This working paper presents a simple model for the macroeconomic behavior of bitcoin based on the economic equation of exchange. According to this model, the value of bitcoin is determined largely by the willingness of bitcoin holders to save bitcoin and not by its transactional use. This model therefore predicts that increased use of bitcoin will not cause its value to rise, but that the value...

This study analyzes characteristics determining member’s willingness to invest in cooperatives using ordered logit model. The data were collected in a field survey among 122 cooperative members in north-central China. The descriptive analysis of survey evidence suggests that cooperatives in China generally having poor ability to deliver the processing services related to product package, gradin...