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Mediated Character of Economic Interactions
Department of Quality, Faculty of Mech. Eng. and Naval Arch. - University of Zagreb, I. Lucica 1, HR - 10000 Zagreb, Croatia
Department of Physics, Faculty of Science - University of Zagreb, P.O.Box 331, HR - 10002, Zagreb, Croatia
Department of Control Engineering, Faculty of Mech. Eng. and Naval Arch. - University of Zagreb, I. Lucica 1, HR - 10000 Zagreb, Croatia
* Author to whom correspondence should be addressed.
Received: 6 May 2003; Accepted: 7 February 2003 / Published: 11 June 2003
Abstract: Economic interactions are conducted between economic agents - individuals and collectives, through exchange of natural or artificial entities - goods, services and money, in a myriad of combinations. In this article we adopt a microscopic point of view, concentrate on the exchanged entities, and extract their relevant attributes as seen from structurally simple economic processes. Following that, we approach the interpretation of the economic interactions with their mediated character emphasized. Mediators of the interaction are locally available environment units. They are locally recognized and appropriately interpreted in a given value set as goods and money. The overall intensity of economic interactions considered is related to mediators' spatial and temporal characteristics. Extracted characteristics of mediators and economic processes are compacted in the set of formal rules. The approach is connected with similar approaches in economy and physics.
Keywords: Economic processes; economic interactions; mediators; agents
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MDPI and ACS Style
Stepanic, J., Jr.; Bertovic, I.; Kasac, J. Mediated Character of Economic Interactions. Entropy 2003, 5, 61-75.
Stepanic J, Jr, Bertovic I, Kasac J. Mediated Character of Economic Interactions. Entropy. 2003; 5(2):61-75.
Stepanic, Josip, Jr.; Bertovic, Igor; Kasac, Josip. 2003. "Mediated Character of Economic Interactions." Entropy 5, no. 2: 61-75.