The paper uses a new technique to find a unique solution to a delay differential cobweb model (formulated from a joint supply-demand function of price) with real model parameters via the Lambert W-function without considering any complex branches. The dynamics of the model are demonstrated with simulations and found to complement previous studies using literature values. However, the condition for instability in the previous studies was defied by our model due to the time delay associated with the supply function. The practical application and advantage of this model over the existing models are that the stability of this model is not limited to only the ratio of price elasticity of demand and supply but also the time-delay parameter (i.e., a missing link in the previous models). Our model, on the other hand, loses its stability when the time delay associated with the supply function is fixed at . Since most of the physical systems, including economical systems, are time-delay inherent and such stability conditionalities should not limit their performance, it is recommended that such systems be modelled using delay differential functions. The novelty of this research is that there has not been a definite general solution to the cobweb model with a time delay whose price dynamics mimic the behaviour of the existing cobweb models in the literature. An illustrative example in a delayed fractional-order differential equation also buttressed the importance of the time delay in the model, aside from the impact of the ratio of the price elasticity of supply and demand.
This paper provides a mathematical fractional-order model that accounts for the mindset of patients in the transmission of COVID-19 disease, the continuous inflow of foreigners into the country, immunization of population subjects, and temporary loss of immunity by recovered individuals. The analytic solutions, which are given as series solutions, are derived using the fractional power series method (FPSM) and the residual power series method (RPSM). In comparison, the series solution for the number of susceptible members, using the FPSM, is proportional to the series solution, using the RPSM for the first two terms, with a proportional constant of ψ Γ n α + 1 , where ψ is the natural birth rate of the baby into the susceptible population, Γ is the gamma function, n is the n th term of the series, and α is the fractional order as the initial number of susceptible individuals approaches the population size of Ghana. However, the variation in the two series solutions of the number of members who are susceptible to the COVID-19 disease begins at the third term and continues through the remaining terms. This is brought on by the nonlinear function present in the equation for the susceptible subgroup. The similar finding is made in the series solution of the number of exposed individuals. The series solutions for the number of deviant people, the number of nondeviant people, the number of people quarantined, and the number of people recovered using the FPSM are unquestionably almost identical to the series solutions for same subgroups using the RPSM, with the exception that these series solutions have initial conditions of the subgroup of the population size. It is observed that, in this paper, the series solutions of the nonlinear system of fractional partial differential equations (PDEs) provided by the RPSM are more in line with the field data than the series solutions provided by the FPSM.