Pereslavl-Zalesskij, Russia
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MATHEMATICAL MODELS AND EQUILIBRIUM
IN IRREVERSIBLE MICROECONOMICS
Anatoly M. Tsirlin, Sergey A. Amelkin
Program Systems Institute of the Russian Academy of SciencesPereslavl-Zalesskij, Russia
Received: 12. July 2009. Accepted: 30. June 2010.
ABSTRACT
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.
KEY WORDS
irreversible microeconomics, mathematical models, thermodynamics
CLASSIFICATION
JEL: C63, D01, D83
Full paper as pdf version.