ACCUMULATION AND CONSUMPTION IN MICROECONOMIC SYSTEM
Two main processes are common for an economic system. They are consumption and accumulation. The first one is described by utility function, either cardinal or ordinal one. The mathematical model for accumulation process can be constructed using wealth function introduced within the frame of irrever...
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| Format: | Article |
| Language: | English |
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Croatian Interdisciplinary Society
2004-12-01
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| Series: | Interdisciplinary Description of Complex Systems |
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| Online Access: | http://indecs.eu/2004/indecs2004-pp119-125.pdf |