Time and money [electronic resource] : how long and how much money is needed to regulate a viable economy / Jean-Pierre Aubin.

Time and money [electronic resource] : how long and how much money is needed to regulate a viable economy / Jean-Pierre Aubin.

9783319000053 electronic book
3319000055 electronic book
9783319000046

Cham : Springer, [2013?]

©2014

English

1 online resource (xviii, 144 pages) : illustrations (some color).

10.1007/978-3-319-00005-3 doi

HB171

330.1

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.

Includes bibliographical references and index.

Access limited to authorized users.

Description based on online resource; title from PDF title page (SpringerLink, viewed September 3, 2013).

Lecture notes in economics and mathematical systems ; 670. 0075-8442

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