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Finite-Time Approach to Microeconomic and Information Exchange Processes


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  • Serghey A. Amelkin

    (Program Systems Institute of the Russian Academy of Sciences)

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    Finite-time approach allows one to optimize regimes of processes in macrosystems when duration of the processes is restricted. Driving force of the processes is difference of intensive variables: temperatures in thermodynamics, values in economics, etc. In microeconomic systems two counterflow fluxes appear due to the only driving force. They are goods and money fluxes. Another possible case is two fluxes with the same direction. The processes of information exchange can be described by this formalism.

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    Bibliographic Info

    Article provided by Croatian Interdisciplinary Society Provider Homepage: in its journal Interdisciplinary Description of Complex Systems.

    Volume (Year): 7 (2009)
    Issue (Month): 1 ()
    Pages: 8-13

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    Handle: RePEc:zna:indecs:v:7:y:2009:i:1:p:8-13

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    Related research

    Keywords: finite-time processes; information exchange; microeconomics;

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    1. Robert U. Ayres & Katalin Martina, s, 1996. "Wealth accumulation and economic progress," Journal of Evolutionary Economics, Springer, Springer, vol. 6(4), pages 347-359.
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