Finite-Time Thermodynamics in Economics
In this paper, we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factors using the wealth function concept. The existence of the welfare function is proved, the concept of capital dissipation is introduced as a measure of the irreversi...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2020-08-01
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| Series: | Entropy |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1099-4300/22/8/891 |