https://doi.org/10.1140/epjp/i2017-11482-0
Regular Article
Capital dissipation minimization for a class of complex irreversible resource exchange processes
1
Institute of Thermal Science and Power Engineering, Naval University of Engineering, 430033, Wuhan, China
2
Military Key Laboratory for Naval Ship Power Engineering, Naval University of Engineering, 430033, Wuhan, China
3
College of Power Engineering, Naval University of Engineering, 430033, Wuhan, China
* e-mail: lingenchen@hotmail.com
Received:
24
December
2016
Accepted:
31
March
2017
Published online:
3
May
2017
A model of a class of irreversible resource exchange processes (REPes) between a firm and a producer with commodity flow leakage from the producer to a competitive market is established in this paper. The REPes are assumed to obey the linear commodity transfer law (LCTL). Optimal price paths for capital dissipation minimization (CDM) (it can measure economic process irreversibility) are obtained. The averaged optimal control theory is used. The optimal REP strategy is also compared with other strategies, such as constant-firm-price operation and constant-commodity-flow operation, and effects of the amount of commodity transferred and the commodity flow leakage on the optimal REP strategy are also analyzed. The commodity prices of both the producer and the firm for the CDM of the REPes with commodity flow leakage change with the time exponentially.
© Società Italiana di Fisica and Springer-Verlag Berlin Heidelberg, 2017
