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Adaptive Processes in Economic Systems

Adaptive Processes in Economic Systems

Roy E. Murphy

Academic Press
Publication date : 2016-06-03

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Mathematics in Science and Engineering, Volume 20, Adaptive Processes in Economic Systems demonstrates the usefulness of communications theory, self-adaptive control theory, and thermodynamic theory to certain economic processes. This book discusses the common properties of adaptive processes, role of the decision maker, and mixed adaptive processes of the first and second kind. The economic environmental processes, concept of entropy time, and stochastic dynamic economic process are also elaborated. This text likewise covers the investment model with full liquidity, adaptive capital allocation process, and concept of an economic state space. Other topics include the stochastic equilibrium in the market and individual adaptive behavior. This volume is suitable for engineers, economists, and specialists of disciplines related to economic systems.

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About the book

Author

Roy E. Murphy

Imprint

Academic Press

Collection

n.c

Publication date

2016-06-03

Pages

224 pages

Print ISBN

9781483230177

Language

English

Ebook informations

EAN PDF DRM-FREE

9781483264073

Price

£46.41

Informations accessibility

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About author(s)

Roy E. Murphy

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