Employment, production and consumption with random update: non-equilibrium stationary state equations

0428078 - NHU-C 2015 RIV CZ eng J - Journal Article
Lavička, H. - Novotný, Jan
Employment, production and consumption with random update: non-equilibrium stationary state equations.
Acta Polytechnica. Roč. 53, č. 6 (2013), s. 847-853. ISSN 1210-2709. E-ISSN 1805-2363
Institutional support: PRVOUK-P23
Keywords : multi-agent based model * equilibrium * Langevin equations
Subject RIV: AH - Economics

In this work, we investigate the Model of Employment, Production and Consumption, as introduced in a series of papers by I. Wright [1–3] 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.
Permanent Link: http://hdl.handle.net/11104/0233901