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Accumulation and consumptionin microeconomic system

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Author Info
S.A. Amelkin () (Program Systems Institute of the Russian Academy of Sciences)
Abstract

Two main processes are common for an economic system. They are consumption and accumulation. The first one is described by utility function, either cardinal or ordinal one. The mathematical model for accumulation process can be constructed using wealth function introduced within the frame of irreversible microeconomics. Characteristics of utility and wealth functions are compared and a problem of extreme performance of resources exchange process is solved for a case when both the consumption and accumulation exist. Classification-ACM-1998: J.4; Social and behavioral sciences - Sociology

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File URL: http://indecs.eu/2004/indecs2004-pp119-125.html
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Publisher Info
Article provided by Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu in its journal Interdisciplinary Description of Complex Systems.

Volume (Year): 2 (2004)
Issue (Month): 2 ()
Pages: 119-125
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:zna:indecs:v:2:y:2004:i:1:p:119-125

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For technical questions regarding this item, or to correct its listing, contact: (Josip Stepanic).

Related research
Keywords: irreversible microeconomics; accumulation; consumption; wealth function; maximum income determination problem;

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This page was last updated on 2009-12-30.

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