Mathematical Models and Equilibrium in Irreversible Microeconomics

A set of equilibrium states in a system consisting of economic agents, economic reservoirs, and firms is considered. Methods of irreversible microeconomics are used. We show that direct sale/purchase leads to an equilibrium state which depends upon the coefficients of supply/demand functions. To reach the unique equilibrium state it is necessary to add either monetary exchange or an intermediate firm.

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Year of publication:	2010
Authors:	Tsirlin, Anatoly M. ; Amelkin, Sergey A.
Published in:	Interdisciplinary Description of Complex Systems - scientific journal. - Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, ISSN 1334-4676. - Vol. 8.2010, 1, p. 13-23
Publisher:	Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu
Subject:	irreversible microeconomics \| mathematical models \| thermodynamics

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C63 - Computational Techniques ; D01 - Microeconomic Behavior: Underlying Principles ; D83 - Search, Learning, Information and Knowledge
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008520960