Publication detail

Dynamic Modeling Economic Equilibrium with Maple

CHVÁTALOVÁ, Z. HŘEBÍČEK, J.

Original Title

Dynamic Modeling Economic Equilibrium with Maple

Type

abstract

Language

English

Original Abstract

The paper describes the continuous dynamic model for the economic equilibrium on the individual market with perfect competition. Models of the demand and supply are continuous differentiable functions that represent the dependence of price and quantity. We respect the assumption that these variables are developed in direct proportion to the time. The mathematization is based on the application of differential equations with delays.We assume that in the market economy change of variables is dependent on the variables values, which was achieved in the past. Standard differential equations with delay can describe the time development of real phenomena more precisely. Modeling, computations and visualization are performed in the Maple system. We present an approach to solutions of mathematical models described by standard differential equations with delayed argument with using the Maple™ system. Currently, the library package with resources for differential equations with delay is built in this system. It serves as a background for formulation of interactive numerical simulation. This paper also presents this library package (briefly).

Keywords

Differential equations with delay; economic equilibrium; price; quantity

Authors

CHVÁTALOVÁ, Z.; HŘEBÍČEK, J.

Released

13. 9. 2017

Publisher

Univerzita Hradec Králové, Fakulta informatiky a managementu

Location

Hradec Králové

ISBN

978-80-7435-677-3

Book

Book of Abstracts of 35th International Conference Mathematical Methods in Economics

Pages from

47

Pages to

47

Pages count

1

BibTex

@misc{BUT145455,
  author="Zuzana {Chvátalová} and Jiří {Hřebíček}",
  title="Dynamic Modeling Economic Equilibrium with Maple",
  booktitle="Book of Abstracts of 35th International Conference Mathematical Methods in Economics",
  year="2017",
  pages="47--47",
  publisher="Univerzita Hradec Králové, Fakulta informatiky a managementu",
  address="Hradec Králové",
  isbn="978-80-7435-677-3",
  note="abstract"
}