Dynamics of money

P Bak1, S F Nørrelykke, M Shubik

  • 1Niels Bohr Institute, Blegdamsvej 17, 2100 Copenhagen, Denmark.

Related Concept Videos

Dynamic Equilibrium02:20

Dynamic Equilibrium

A reversible chemical reaction represents a chemical process that proceeds in both forward (left to right) and reverse (right to left) directions. When the rates of the forward and reverse reactions are equal, the concentrations of the reactant and product species remain constant over time and the system is at equilibrium. A special double arrow is used to emphasize the reversible nature of the reaction. The relative concentrations of reactants and products in equilibrium systems vary greatly;...
Dynamics Of Circular Motion: Applications01:17

Dynamics Of Circular Motion: Applications

Suppose a car moves on flat ground and turns to the left. The centripetal force causing the car to turn in a circular path is due to friction between the tires and the road. For this, a minimum coefficient of friction is needed, or the car will move in a larger-radius curve and leave the roadway. Let's now consider banked curves, where the slope of the road helps in negotiating the curve. The greater the angle of the curve, the faster one can take the curve. It is common for race tracks for...
Energy Diagrams - I01:14

Energy Diagrams - I

The dynamics of a mechanical system can be easily understood by interpreting a potential energy diagram. Since energy is a scalar quantity, the interpretation of the dynamics of the system becomes even simpler.
Take the example of a skater on a parabolic ramp. The potential energy at different points along the ramp will be proportional to the height of the ramp, which varies quadratically with the horizontal position on the ramp. As the skater moves down the ramp from the highest position,...
Laminar and Turbulent Flow01:07

Laminar and Turbulent Flow

Fluid dynamics is the study of fluids in motion. Velocity vectors are often used to illustrate fluid motion in applications like meteorology. For example, wind—the fluid motion of air in the atmosphere—can be represented by vectors indicating the speed and direction of the wind at any given point on a map. Another method for representing fluid motion is a streamline. A streamline represents the path of a small volume of fluid as it flows. When the flow pattern changes with time, the streamlines...
Conservation of Linear Momentum for a System of Particles01:28

Conservation of Linear Momentum for a System of Particles

In the dynamic realm of billiards, a fascinating interplay of forces governs the motion of cue balls and stationary balls. When the cue ball collides with a stationary ball, linear momentum is exchanged. The cue ball imparts a fraction of its linear momentum to the stationary ball, causing the cue ball to decelerate while initiating the motion of the stationary ball.
The impulsive force at play during this interaction is of extremely short duration, rendering its impulse negligible. When...
Steady Flow of a Fluid Stream01:27

Steady Flow of a Fluid Stream

Consider a control volume, such as a pipe with solid boundaries, through which fluid flows and changes direction due to the impulse exerted by the resulting force from the pipe walls. In steady flow, the mass of fluid entering the control volume at a given time, t, with velocity v1, is equal to the mass leaving after infinitesimal time dt, with velocity v2.
During this process, the momentum of the fluid within the control volume remains constant over the time interval dt. By applying the...