Thermodynamic model of capital extraction in economic systems

A.M. Tsirlin, (), V. Kazakov,, N.A. Alimova and A.A. Ahremenkov
Additional contact information
A.M. Tsirlin,: Program Systems Institute of the Russian Academy of Sciences, Pereslavl-Zalesskij, Russia
V. Kazakov,: School of Finance and Economics, University of Technology Sydney, Australia
N.A. Alimova: Program Systems Institute of the Russian Academy of Sciences, Pereslavl-Zalesskij, Russia
A.A. Ahremenkov: Program Systems Institute of the Russian Academy of Sciences, Pereslavl-Zalesskij, Russia

Interdisciplinary Description of Complex Systems - scientific journal, 2005, vol. 3, issue 1, 1-16

Abstract: In this paper the properties of the wealth function of an economic system are studied. An economic analog of the Gibbs-Duhem equation is derived. Equilibrium states and limiting profit extraction regimes in non-equilibrium economic systems are obtained for the Cobb-Douglas wealth function.

Keywords: nonequilibrium and irreversible thermodynamics; economics; econophysics; financial markets; business and management (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://indecs.eu/2005/indecs2005-pp1-16.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:3:y:2005:i:1:p:1-16

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 ().