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

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

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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

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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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

Publication year

2013

Confidentiality

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

Name of the periodical

Acta Polytechnica

ISSN

1210-2709

e-ISSN

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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

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EID of the result in the Scopus database

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