Finite-Time Thermodynamics in Economics

In this paper, we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factors using the wealth function concept. The existence of the welfare function is proved, the concept of capital dissipation is introduced as a measure of the irreversi...

Descripción completa

Detalles Bibliográficos
Autores principales: Tsirlin, Anatoly, Gagarina, Larisa
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2020
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7517512/
https://www.ncbi.nlm.nih.gov/pubmed/33286661
http://dx.doi.org/10.3390/e22080891
_version_ 1783587243228659712
author Tsirlin, Anatoly
Gagarina, Larisa
author_facet Tsirlin, Anatoly
Gagarina, Larisa
author_sort Tsirlin, Anatoly
collection PubMed
description In this paper, we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factors using the wealth function concept. The existence of the welfare function is proved, the concept of capital dissipation is introduced as a measure of the irreversibility of processes in the microeconomic system, and the economic balances are recorded, including capital dissipation. Problems in the form of kinetic equations leading to given conditions of minimal dissipation are considered.
format Online
Article
Text
id pubmed-7517512
institution National Center for Biotechnology Information
language English
publishDate 2020
publisher MDPI
record_format MEDLINE/PubMed
spelling pubmed-75175122020-11-09 Finite-Time Thermodynamics in Economics Tsirlin, Anatoly Gagarina, Larisa Entropy (Basel) Article In this paper, we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factors using the wealth function concept. The existence of the welfare function is proved, the concept of capital dissipation is introduced as a measure of the irreversibility of processes in the microeconomic system, and the economic balances are recorded, including capital dissipation. Problems in the form of kinetic equations leading to given conditions of minimal dissipation are considered. MDPI 2020-08-13 /pmc/articles/PMC7517512/ /pubmed/33286661 http://dx.doi.org/10.3390/e22080891 Text en © 2020 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Tsirlin, Anatoly
Gagarina, Larisa
Finite-Time Thermodynamics in Economics
title Finite-Time Thermodynamics in Economics
title_full Finite-Time Thermodynamics in Economics
title_fullStr Finite-Time Thermodynamics in Economics
title_full_unstemmed Finite-Time Thermodynamics in Economics
title_short Finite-Time Thermodynamics in Economics
title_sort finite-time thermodynamics in economics
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7517512/
https://www.ncbi.nlm.nih.gov/pubmed/33286661
http://dx.doi.org/10.3390/e22080891
work_keys_str_mv AT tsirlinanatoly finitetimethermodynamicsineconomics
AT gagarinalarisa finitetimethermodynamicsineconomics

Ejemplares similares