Original scientific paper

Thermodynamic Model of Capital Extraction in Economic Systems

A.M. Tsirlin
V. Kazakov
N.A. Alimova
A.A. Ahremenkov

Abstract

In this paper the properties of the wealth function of an economic system are studied. An economic analog of the Gibbs-Duhem equation is derived. Equilibrium states and limiting profit extraction regimes in non-equilibrium economic systems are obtained for the Cobb-Douglas wealth function.

Keywords

nonequilibrium and irreversible thermodynamics; economics; econophysics; financial markets; business and management

Hrčak ID:

708

URI

https://hrcak.srce.hr/708

Publication date:

3.10.2005.

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