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Consumer, Firm, and Price Dynamics: An Econophysics Approach

Estola:Consumer, Firm, and Price Dynami
Autor: Matti Estola
Verfügbarkeit: Auf Lager.
Artikelnummer: 661465
ISBN / EAN: 9783639104158

Verfügbarkeit: sofort lieferbar

Inkl. MwSt. , zzgl. Versandkosten


The assumptions of neoclassical analysis have§prohibited the development of economics into a§quantitative science. The assumptions do not allow§modeling time dependent processes and increasing§returns to scale in firms' production in a§perfectly competed industry. Further, the assumed§optimal behavior prohibits understanding changes in§economic quantities because none likes to change his§optimal behavior.§§In the book the assumption of optimal behavior in§neoclassical analysis is changed to the following:§Economic agents like to better their situation if§possible. This approach is shown to lead to an§analogous framework of modeling in economics as§Newtonian framework in classical mechanics. The§economic forces acting upon consumption, production,§and price in a non-equilibrium situation are defined,§and showed that these forces cause an adjustment§toward an equilibrium state, or keep the system in§motion with time. The proposed framework gives game§theoretic analysis and a dynamic extension of§neoclassical analysis from a single principle that§contains economic growth too.


Autor Verlag VDM Verlag Dr. Müller
ISBN / EAN 9783639104158 Bindung Taschenbuch

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