Title of article :
A macro-physics model of depreciation rate in economic exchange
Author/Authors :
Marmont Lobo، نويسنده , , Rui F. and de Sousa، نويسنده , , Miguel Rocha، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2014
Abstract :
This article aims at a new approach for a known fundamental result: barter or trade increases economic value. It successfully bridges the gap between the theory of value and the exchange process attached to the transition from endowments to the equilibrium in the core and contract curve. First, we summarise the theory of value; in Section 2, we present the Edgeworth (1881) box and an axiomatic approach and in Section 3, we apply our pure exchange model. Finally (in Section 4), using our open econo-physics pure barter (EPB) model, we derive an improvement in value, which means that pure barter leads to a decline in depreciation rate.
Keywords :
Depreciation rate , Econo-physics pure barter model (EPB) , Pure barter , Edgeworth box , Theory of value
Journal title :
Physica A Statistical Mechanics and its Applications
Journal title :
Physica A Statistical Mechanics and its Applications