IDEAS home Printed from https://ideas.repec.org/a/zna/indecs/v4y2006i2p102-123.html
   My bibliography  Save this article

Optimal Processes in Irreversible Microeconomics

Author

Listed:
  • Anatoly M. Tsirlin

    (Program Systems Institute of the Russian Academy of Sciences, Pereslavl-Zalesskij)

  • Vladimir Kazakov

    (School of Finance and Economics, University of Technology, Sydney)

Abstract

In this paper we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factor using wealth function concept.

Suggested Citation

  • Anatoly M. Tsirlin & Vladimir Kazakov, 2006. "Optimal Processes in Irreversible Microeconomics," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 4(2), pages 102-123.
    • Handle: RePEc:zna:indecs:v:4:y:2006:i:2:p:102-123
    as

    Download full text from publisher

    File URL: http://indecs.eu/2006/indecs2006-pp102-123.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. A. M. Tsirlin & Valdimir Kazakov & N. A. Kolinko, 2003. "A Minimal Dissipation Type-Based Classification in Irreversible Thermodynamics and Microeconomics," Research Paper Series 104, Quantitative Finance Research Centre, University of Technology, Sydney.
    2. Hurwicz, Leonid & Richter, Marcel K., 1979. "An integrability condition with applications to utility theory and thermodynamics," Journal of Mathematical Economics, Elsevier, vol. 6(1), pages 7-14, March.
    3. A. Tsirlin & V. Kazakov & N. Kolinko, 2003. "A minimal dissipation type-based classification in irreversible thermodynamics and microeconomics," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 35(4), pages 565-570, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Li, Jun & Chen, Lingen & Sun, Fengrui, 2007. "Optimal configuration of a class of endoreversible heat-engines for maximum power-output with linear phenomenological heat-transfer law," Applied Energy, Elsevier, vol. 84(9), pages 944-957, September.
    2. Jerison, David & Jerison, Michael, 1993. "Approximately Rational Consumer Demand," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(2), pages 217-241, April.
    3. A.M. Tsirlin, & V. Kazakov, & N.A. Alimova & A.A. Ahremenkov, 2005. "Thermodynamic model of capital extraction in economic systems," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 3(1), pages 1-16.
    4. Russell, Thomas, 1997. "How quasi-rational are you?: A behavioral interpretation of a two form which measures non-integrability of a system of demand equations," Economics Letters, Elsevier, vol. 56(2), pages 181-186, October.
    5. Yuhki Hosoya, 2024. "The Relationship between Consumer Theories with and without Utility Maximization," Papers 2404.10931, arXiv.org.
    6. D. Wade Hands, 2014. "Paul Samuelson and Revealed Preference Theory," History of Political Economy, Duke University Press, vol. 46(1), pages 85-116, Spring.

    More about this item

    Keywords

    microeconomics; non-equilibrium thermodynamics; irreversibility;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

    Statistics

    Access and download statistics

    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:zna:indecs:v:4:y:2006:i:2:p:102-123. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Josip Stepanic (email available below). General contact details of provider: .

    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.