Our most recent work [1] concerning the first passage time problem in the noisy voter model has been published in Chaos, Solitons and Fractals!

The mean first passage time is a prominent tool that quantifies fundamental switching behavior in systems ranging from natural to social sciences. In our earlier works the first-passage framework has found applications as a test for long-range memory [2]. While, the noisy voter model is a prominent model used to understand human opinion dynamics.

References

• R. Kazakevicius, A. Kononovicius. Mean first passage time of the symmetric noisy voter model with arbitrary initial and boundary conditions. Chaos, Solitons and Fractals 203: 117649 (2026). doi: 10.1016/j.chaos.2025.117649. arXiv:2512.02519 [cond-mat.stat-mech].
• R. Kazakevicius, A. Kononovicius, B. Kaulakys, V. Gontis. Understanding the nature of the long-range memory phenomenon in socio-economic systems. Entropy 23: 1125 (2021). doi: 10.3390/e23091125. arXiv:2108.02506 [physics.soc-ph].

Last time we have discussed a model, which shows that random promotions can be the best way to ensure efficiency of your organization. In the post we have mentioned that the research has won the Ig Nobel Management Prize in 2010. Did you know that the same group received the Ig Nobel Economics Prize in 2022? Furthermore, they received the prize for the model we have already covered on Physics of Risk. We encourage you to watch their acceptance speech below.

Last time I have shared a video about the Peter principle, which states that "in a hierarchy, every employee tends to rise to their level of incompetence." Actually, I have heard about this principle before in the scientific context. Prior to the video, I have heard about this principle from a group of Italian physicists, economists and mathematicians had working on a research project about benefits of random strategies [1]. On of their works was about the Peter principle. So, lets explore!

Can Lithuania catch up with and even overtake Western Europe? This question is provocative—but not without foundation. A recent study [1] showed that Lithuania's economic progress stands out among the countries of Central and Eastern Europe (CEE). Yet can this growth pace enable it to reach the level of Malta and other Western economies? Using the same data and methodology, we compared the development of Malta and Spain to identify which factors determine successful convergence.

Assoc. Prof. Lesya Kolinets, lecturer in international macroeconomics at VILNIUS TECH and professor at Ternopil National Economic University, and I prepared a scientific manuscript [1] on the economic development of Central and Eastern European (CEE) countries from 1995 to 2024. The results of this study may be of interest to a broad audience seeking to gain a deeper understanding of the reasons behind Lithuania’s economic success since regaining independence. Using relatively simple econometric tools, we identify the key macroeconomic and financial components of CEE economic growth, among which low private debt accumulation emerges as a particularly significant factor.

Although the article has not yet been published in any economics journal, we wish to share its findings with experts in Lithuania. Your thoughts, criticisms, and suggestions could help to improve the paper and extend the study in a broader context.