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Time and Money [electronic resource] : How Long and How Much Money is Needed to Regulate a Viable Economy / by Jean-Pierre Aubin.

By: Aubin, Jean-Pierre [author.].
Contributor(s): SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Lecture Notes in Economics and Mathematical Systems: 670Publisher: Cham : Springer International Publishing : Imprint: Springer, 2014Description: XVIII, 144 p. 32 illus., 29 illus. in color. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783319000053.Subject(s): System theory | Calculus of variations | Sociophysics | Econophysics | Economic theory | Macroeconomics | Economics | Economic Theory/Quantitative Economics/Mathematical Methods | Calculus of Variations and Optimal Control; Optimization | Socio- and Econophysics, Population and Evolutionary Models | Complex Systems | Macroeconomics/Monetary Economics//Financial EconomicsAdditional physical formats: Printed edition:: No titleDDC classification: 330.1 Online resources: Click here to access online
Contents:
The Underlying Thesis -- How Long and How Much Endowing One Commodity -- Keeping the Endowment Above a Viability Threshold -- Uncertain Endowments and Economic Cycles -- Evolutions and their Temporal Windows -- Endowing Fundamental Values:Willingness To Pay -- Endowing Exchange Values: Adam Smith's Invisible Man -- Why Viability Theory? -- What Is to Be Done?.
In: Springer eBooksSummary: This authored monograph presents an unconventional approach to an important topic in economic theory. The author is an expert in the field of viability theory which was motivated by economics at the end of the 1970's (see Dynamic Economic Theory: a Viability Approach, Springer, (1996).  It is used here to analyze how an economy should be dynamically endowed so that it is economically viable.    Economic viability requires an assumption on the joint evolution of commodities transactions, fluctuations of prices and numeraire units: the sum of the "transactions values" and the "impact of price fluctuations" should be negative or equal to zero. The book presents a computation of the minimum endowment which restores economic viability and derives the dynamic laws that regulate both transactions and price fluctuations.    The target audience primarily comprises open-minded and mathematically interested economists but the book may also be beneficial for graduate students.
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The Underlying Thesis -- How Long and How Much Endowing One Commodity -- Keeping the Endowment Above a Viability Threshold -- Uncertain Endowments and Economic Cycles -- Evolutions and their Temporal Windows -- Endowing Fundamental Values:Willingness To Pay -- Endowing Exchange Values: Adam Smith's Invisible Man -- Why Viability Theory? -- What Is to Be Done?.

This authored monograph presents an unconventional approach to an important topic in economic theory. The author is an expert in the field of viability theory which was motivated by economics at the end of the 1970's (see Dynamic Economic Theory: a Viability Approach, Springer, (1996).  It is used here to analyze how an economy should be dynamically endowed so that it is economically viable.    Economic viability requires an assumption on the joint evolution of commodities transactions, fluctuations of prices and numeraire units: the sum of the "transactions values" and the "impact of price fluctuations" should be negative or equal to zero. The book presents a computation of the minimum endowment which restores economic viability and derives the dynamic laws that regulate both transactions and price fluctuations.    The target audience primarily comprises open-minded and mathematically interested economists but the book may also be beneficial for graduate students.

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