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An Economic analogy to Electrodynamics

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  • Sanjay Dasari
  • Anindya Kumar Biswas

Abstract

In 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.

Suggested Citation

  • Sanjay Dasari & Anindya Kumar Biswas, 2010. "An Economic analogy to Electrodynamics," Papers 1001.1847, arXiv.org, revised Apr 2017.
  • Handle: RePEc:arx:papers:1001.1847
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    File URL: http://arxiv.org/pdf/1001.1847
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    1. J. E. Stiglitz, 1999. "Introduction," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 28(3), pages 249-254, November.
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