EMPLOYMENT, PRODUCTION AND CONSUMPTION WITH RANDOM UPDATE: NON-EQUILIBRIUM STATIONARY STATE EQUATIONS
| Autor: | Jan Novotný, Hynek Lavička |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Consumption (economics)
Computational model Mathematical optimization Work (thermodynamics) Class (set theory) Series (mathematics) General Engineering lcsh:TA1-2040 Applied mathematics Production (economics) lcsh:Engineering (General). Civil engineering (General) Focus (optics) Stationary state Mathematics |
| Zdroj: | Acta Polytechnica, Vol 53, Iss 6 (2013) |
| ISSN: | 1805-2363 1210-2709 |
| DOI: | 10.14311/ap.2013.53.0847 |
| Popis: | In this work, we investigate the Model of Employment, Production and Consumption, as introduced in a series of papers by I. Wright [1–3] from the perspective of statistical physics, and we focus on the presence of equilibrium. The model itself belongs to the class of multi-agent computational models, which aim to explain macro-economic behavior using explicit micro-economic interactions.Based on the mean-field approximation, we form the Fokker-Plank equation(s) and then formulate conditions forming the stationary solution, which results in a system of non-linear integral-differential equations. This approximation then allows the presence of non-equilibrium stationary states, where the model is a mixed additive-multiplicative model. |
| Databáze: | OpenAIRE |
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