INDECS, Vol. 2 No. 1, 2004.
Original scientific paper
Neumannian Economy in Multi-Agent Approach. Investigation of Stability and Instability in Economic Growth
Katalin Martinás
; Department of Atomic Physics, Eötvös Loránd University, Budapest
Abstract
Axiomatic foundation of non-equilibrium microeconomics is outlined. The economic activity is modelled as transformation and transport of commodities (materials) owned by the agents. Rate of transformations (production intensity), and the rate of transport (trade) are defined by
the agents. Economic decision rules are derived from the observed economic behaviour. The non-linear equations are solved numerically for the Neumannian economy. The emergence of the equilibrium market structure appears as an order out of chaos process.
Keywords
economics; irreversibility; growth; chaos
Hrčak ID:
76889
URI
Publication date:
29.6.2004.
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