TITLE:

OPTIMAL CONTROL OF MACRO CONTROLLED SYSTEMS (No. 28)

DATE:

Friday, December 5th, 2003

TIME:

3:30 PM

LOCATION:

GMCS 214

SPEAKER:

Vladimir Kazakov, University of Sydney and University of Technology, Sydney, Australia

ABSTRACT:

Thermodynamic and microeconomic systems are examples of macro systems, which include a large number of unobservable and uncontrollable micro subsystems. The analogy between the maximal work problem in

thermodynamic system and the maximal profit problem in microeconomic system will be considered. The generalization of Prigogine principle for thermodynamic systems with heat engine and for microeconomic systems will be presented.

HOST:

Jose Castillo

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