An Economic analogy to Electrodynamics
AbstractIn this note, we would like to find the laws of electrodynamics in simple economic systems. In this direction, we identify the chief economic variables and parameters, scalar and vector, which are amenable to be put directly into the crouch of the laws of electrodynamics, namely Maxwell's equations. Moreover, we obtain Phillp's curve, recession and Black-Scholes formula, as sample applications.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1001.1847.
Date of creation: Jan 2010
Date of revision: Aug 2013
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Web page: http://arxiv.org/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-23 (All new papers)
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