Optimization of Rate of Penetration and Mechanical Specific Energy Using Response Surface Methodology and Multi-Objective Optimization

Optimizing the drilling process is critical for the exploration of natural resources.However, there are several mechanic parameters that continuously interact with formation properties, hindering the optimization process.Rate of penetration (ROP) and mechanical specific energy (MSE) are considered two key performance indicators that allow the ident

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Economic Modelling in Institutional Economic Theory

Our paper is centered around the formation of theory of institutional modelling that includes principles and ideas reflecting the laws of societal development within the framework of institutional economic theory.We scrutinize and discuss the scientific principles of this institutional low sugar modelling that are increasingly postulated by the cla

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