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Employment, Production and Consumption with Random Update: Non-equilibrium Stationary State Equations

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21340%2F13%3A00213998" target="_blank" >RIV/68407700:21340/13:00213998 - isvavai.cz</a>

  • Alternative codes found

    RIV/00216208:11640/13:00428078

  • Result on the web

    <a href="https://ojs.cvut.cz/ojs/index.php/ap/article/view/AP.2013.53.0847/1872" target="_blank" >https://ojs.cvut.cz/ojs/index.php/ap/article/view/AP.2013.53.0847/1872</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Employment, Production and Consumption with Random Update: Non-equilibrium Stationary State Equations

  • Original language description

    In this work, we investigate the Model of Employment, Production and Consumption, as introduced in a series of papers by I. Wright from the perspective of statistical physics, and we focus on the presence of equilibrium. The model itself belongs to the class of multi-agent computational models, which aim to explain macro-economic behavior using explicit micro-economic interactions. Based on the mean-field approximation, we form the Fokker-Plank equation(s) and then formulate conditions forming the stationary solution, which results in a system of non-linear integral-differential equations. This approximation then allows the presence of non-equilibrium stationary states, where the model is a mixed additive-multiplicative model.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

  • CEP classification

    AH - Economics

  • OECD FORD branch

Result continuities

  • Project

    <a href="/en/project/GAP402%2F12%2F2255" target="_blank" >GAP402/12/2255: General description of structural breaks in economy using Agent-Based models</a><br>

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2013

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Acta Polytechnica

  • ISSN

    1210-2709

  • e-ISSN

  • Volume of the periodical

    6

  • Issue of the periodical within the volume

    53

  • Country of publishing house

    CZ - CZECH REPUBLIC

  • Number of pages

    7

  • Pages from-to

    847-853

  • UT code for WoS article

  • EID of the result in the Scopus database