IDEAS home Printed from https://ideas.repec.org/a/eee/phsmap/v324y2003i1p372-379.html
   My bibliography  Save this article

A non-linear model of economic production processes

Author

Listed:
  • Ponzi, A.
  • Yasutomi, A.
  • Kaneko, K.

Abstract

We present a new two phase model of economic production processes which is a non-linear dynamical version of von Neumann's neoclassical model of production, including a market price-setting phase as well as a production phase. The rate of an economic production process is observed, for the first time, to depend on the minimum of its input supplies. This creates highly non-linear supply and demand dynamics. By numerical simulation, production networks are shown to become unstable when the ratio of different products to total processes increases. This provides some insight into observed stability of competitive capitalist economies in comparison to monopolistic economies. Capitalist economies are also shown to have low unemployment.

Suggested Citation

  • Ponzi, A. & Yasutomi, A. & Kaneko, K., 2003. "A non-linear model of economic production processes," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 372-379.
    • Handle: RePEc:eee:phsmap:v:324:y:2003:i:1:p:372-379
    DOI: 10.1016/S0378-4371(02)01885-X
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S037843710201885X
    Download Restriction: Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000
    File URL: https://libkey.io/10.1016/S0378-4371(02)01885-X?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ponzi, A. & Yasutomi, A. & Kaneko, K., 2006. "Complex dynamical behaviour in economic production networks," Journal of Economic Behavior & Organization, Elsevier, vol. 61(4), pages 729-749, December.
    2. A. Mustafin & A. Kantarbayeva, 2022. "Clearing function in the context of the invariant manifold method," Papers 2206.11205, arXiv.org.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:phsmap:v:324:y:2003:i:1:p:372-379. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.