On modeling with multiplicative differential equations
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- Bashirov, A.E., Mısırlı, E., Tandoğdu, Y. et al. Appl. Math. J. Chin. Univ. (2011) 26: 425. doi:10.1007/s11766-011-2767-6
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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.