The Abstract Machine Model for Transaction-based System Control
Description:
Recent work applying statistical mechanics to economic modeling has demonstrated the effectiveness of using thermodynamic theory to address the complexities of large scale economic systems. Transaction-based control systems depend on the conjecture that when control of thermodynamic systems is based on price-mediated strategies (e.g., auctions, markets), the optimal allocation of resources in a market-based control system results in an emergent optimal control of the thermodynamic system. This …
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Date:
January 31, 2003
Creator:
Chassin, David P.
Partner:
UNT Libraries Government Documents Department