Publication detail

A Nonlinear Microeconomic Model of Goods Production and Sale Using Functional Analysis

NOVOTNÁ, V. ŠKAPA, S.

Original Title

A Nonlinear Microeconomic Model of Goods Production and Sale Using Functional Analysis

Type

conference paper

Language

English

Original Abstract

Mathematical methods have been used with increasing success in solving particular tasks of dynamic process modelling, both in macroeconomics and microeconomics. The efforts to simulate processes in situations when experiments on real objects cannot be performed or such experiments would be uneconomical are the most fre-quent reason for modelling in microeconomics. This paper presents a nonlinear dynamic model of production, storage and sale of daily consumer goods, accounting for the impact of history on the behaviour of the respec-tive values at present. The model is described using the so-called ordinary delay differential equations and may be used in production planning or as a part of models addressing issues of cooperation or competition. The solu-tion is demonstrated on a practical example and is presented graphically.

Keywords

goods, delay differential equations, functional differential equation, microeconomic model

Authors

NOVOTNÁ, V.; ŠKAPA, S.

Released

2. 11. 2017

Publisher

Management Academic Society in Romania

Location

Bucharest

ISBN

2286-1440

Periodical

INTERNATIONAL MANAGEMENT CONFERENCE

State

Romania

Pages from

1

Pages to

8

Pages count

6

BibTex

@inproceedings{BUT142573,
  author="Veronika {Novotná} and Stanislav {Škapa}",
  title="A Nonlinear Microeconomic Model of Goods Production and Sale Using Functional Analysis",
  booktitle="PROCEEDINGS OF THE 11th INTERNATIONAL MANAGEMENT CONFERENCE - The Role of Management in the Economic Paradigm of the XXIst Century 
 
 
 

 
 
 
 

 
",
  year="2017",
  journal="INTERNATIONAL MANAGEMENT CONFERENCE",
  pages="1--8",
  publisher="Management Academic Society in Romania",
  address="Bucharest",
  issn="2286-1440"
}