Finite-Time Approach to Microeconomic and Information Exchange Processes

Sergey Amelkin ()

Interdisciplinary Description of Complex Systems - scientific journal, 2009, vol. 7, issue 1, 8-13

Abstract: 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.

Keywords: finite-time processes; information exchange; microeconomics (search for similar items in EconPapers)
JEL-codes: D03 D83 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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