Neumannian Economy in Multi-agent Approach. Investigation of Stability and Instability in Economic Growth

Katalin Martinas ()
Additional contact information
Katalin Martinas: Department of Atomic Physics, Eötvös Loránd Technical University

Interdisciplinary Description of Complex Systems - scientific journal, 2004, vol. 2, issue 1, 70-78

Abstract: Axiomatic foundation of non-equilibrium microeconomics is outlined. The economic activity is modelled as transformation and transport of commodities (materials) owned by the agents. Rate of transformations (production intensity), and the rate of transport (trade) are defined by the agents. Economic decision rules are derived from the observed economic behaviour. The non-linear equations are solved numerically for the Neumannian economy. The emergence of the equilibrium market structure appears as an order out of chaos process.

Keywords: economics; irreversibility; growth; chaos (search for similar items in EconPapers)
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://indecs.eu/2004/indecs2004-pp70-78.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zna:indecs:v:2:y:2004:i:1:p:70-78

Access Statistics for this article

More articles in Interdisciplinary Description of Complex Systems - scientific journal from Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu
Bibliographic data for series maintained by Josip Stepanic ().