|
Differential Equations and Mathematical Physics
Approximate analytical solutions of the nonlinear fractional order financial model by two efficient methods with a comparison study
M. I. Liaqatab, A. Khanb, A. Irshadb, A. Akgülcde, E. Yu. Prosviryakovfg a Government College University, Lahore, 54600, Pakistan
b National College of Business Administration & Economics, Lahore, 54660, Pakistan
c Lebanese American University, Beirut, 1102 2801, Lebanon
d Siirt University, Siirt, 56100, Turkey
e Near East University, Nicosia, 99138, Turkey
f Ural Federal University, Ekaterinburg, 620137, Russian Federation
g Institute of Engineering Science, RAS (Urals Branch), Ekaterinburg, 620049, Russian Federation
(published under the terms of the Creative Commons Attribution 4.0 International License)
Abstract:
The financial system has become prominent and important in global economics, because the key
to stabilizing the economy is to secure or control the financial system or market.
The goal of this study is to determine whether or not the approximate analytical series solutions obtained by the
residual power series method and Elzaki transform decomposition method of
the fractional nonlinear financial model satisfy economic theory. The fractional derivative is used
in the sense of the Caputo derivative.
The results are depicted numerically and in figures that
show the behavior of the approximate solutions of the interest rate, investment demand, and price
index. Both methods yielded results in accordance with economic theory, which established that
researchers could apply these two methods to solve various types of fractional nonlinear problems that
arise in financial systems.
Keywords:
approximate solutions, fractional nonlinear financial model, residual power series method, Elzaki transform decomposition method
Received: August 10, 2023 Revised: March 27, 2024 Accepted: May 26, 2024 First online: September 11, 2024
Citation:
M. I. Liaqat, A. Khan, A. Irshad, A. Akgül, E. Yu. Prosviryakov, “Approximate analytical solutions of the nonlinear fractional order financial model by two efficient methods with a comparison study”, Vestn. Samar. Gos. Tekhn. Univ., Ser. Fiz.-Mat. Nauki [J. Samara State Tech. Univ., Ser. Phys. Math. Sci.], 28:2 (2024), 223–246
Linking options:
https://www.mathnet.ru/eng/vsgtu2055 https://www.mathnet.ru/eng/vsgtu/v228/i2/p223
|
|