Academic Journals Database
Disseminating quality controlled scientific knowledge

Finite-Time Approach to Microeconomic and Information Exchange Processes

Author(s): Serghey A. Amelkin

Journal: Interdisciplinary Description of Complex Systems
ISSN 1334-4684

Volume: 7;
Issue: 1;
Start page: 8;
Date: 2009;
VIEW PDF   PDF DOWNLOAD PDF   Download PDF Original page

Keywords: finite-time processes | information exchange | microeconomics

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.
Save time & money - Smart Internet Solutions      Why do you need a reservation system?