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 paper proposes an abstract machine model as the necessary precursor for demonstrating this conjecture and establishes the dynamic laws as the basis for a special theory of emergence applied to the global behavior and control of complex adaptive systems. The abstract machine in a large system amounts to the analog of a particle in thermodynamic theory. The permit the establishment of a theory dynamic control of complex system behavior based on statistical mechanics. Thus we may be better able to engineer a few simple control laws for a very small number of devices types, which when deployed in very large numbers and operated as a system of many interacting markets yields the stable and optimal control of the thermodynamic system.
Date: January 31, 2003
Creator: Chassin, David P.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department