dorsal/arxiv
View SchemaTypical properties of optimal growth in the Von Neumann expanding model for large random economies
| Authors | Andrea De Martino, Matteo Marsili |
|---|---|
| Categories | |
| ArXiv ID | physics/0507032 |
| URL | https://arxiv.org/abs/physics/0507032 |
| DOI | 10.1088/1742-5468/2005/09/L09003 |
| Journal | JSTAT (2005) L09003 |
Abstract
We calculate the optimal solutions of the fully heterogeneous Von Neumann expansion problem with $N$ processes and $P$ goods in the limit $N\to\infty$. This model provides an elementary description of the growth of a production economy in the long run. The system turns from a contracting to an expanding phase as $N$ increases beyond $P$. The solution is characterized by a universal behavior, independent of the parameters of the disorder statistics. Associating technological innovation to an increase of $N$, we find that while such an increase has a large positive impact on long term growth when $N\ll P$, its effect on technologically advanced economies ($N\gg P$) is very weak.
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"abstract": "We calculate the optimal solutions of the fully heterogeneous Von Neumann\nexpansion problem with $N$ processes and $P$ goods in the limit $N\\to\\infty$.\nThis model provides an elementary description of the growth of a production\neconomy in the long run. The system turns from a contracting to an expanding\nphase as $N$ increases beyond $P$. The solution is characterized by a universal\nbehavior, independent of the parameters of the disorder statistics. Associating\ntechnological innovation to an increase of $N$, we find that while such an\nincrease has a large positive impact on long term growth when $N\\ll P$, its\neffect on technologically advanced economies ($N\\gg P$) is very weak.",
"arxiv_id": "physics/0507032",
"authors": [
"Andrea De Martino",
"Matteo Marsili"
],
"categories": [
"physics.soc-ph",
"cond-mat.dis-nn",
"q-fin.GN"
],
"doi": "10.1088/1742-5468/2005/09/L09003",
"journal_ref": "JSTAT (2005) L09003",
"title": "Typical properties of optimal growth in the Von Neumann expanding model for large random economies",
"url": "https://arxiv.org/abs/physics/0507032"
},
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