Intensive quantities in an economy and conjugate variables (Q382366)
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scientific article; zbMATH DE number 6228536
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Intensive quantities in an economy and conjugate variables |
scientific article; zbMATH DE number 6228536 |
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Intensive quantities in an economy and conjugate variables (English)
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18 November 2013
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Using the simplest economic planning problem as an example, the author shows that the intensive variables (such as prices, interest or exchange rate; compare with goods, resources and money which are extensive variables) arise naturally as conjugate variables to balance constraints, under the decomposition of the planning problem into the problem of the dynamical equilibrium of an economy.
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Ramsey problem
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economic dynamics
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optimization
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0.78659695
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0.7823908
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0.7816826
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0.77471864
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0.7742337
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0.7740135
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