Optimal Processes in Irreversible Thermodynamics and Microeconomics

Anatoly M. Tsirlin () and Vladimir A. Kazakov
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Anatoly M. Tsirlin: Program System Institute - Russian Academy of Science
Vladimir A. Kazakov: Program System Institute - Russian Academy of Science

Interdisciplinary Description of Complex Systems - scientific journal, 2004, vol. 2, issue 1, 29-42

Abstract: This paper describes general methodology that allows one to extend Carnot efficiency of classical thermodynamic for zero rate processes onto thermodynamic systems with finite rate. We define the class of minimal dissipation processes and show that it represents generalization of reversible processes and determines the limiting possibilities of finite rate systems. The described methodology is then applied to microeconomic exchange systems yielding novel estimates of limiting efficiencies for such systems.

Keywords: finite-time thermodynamics; minimal dissipation process; optimal exchange processes in microeconomics (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (4)

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