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Spatial Multiobjective Optimization of Agricultural Conservation Practices using a SWAT Model and an Evolutionary Algorithm
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Maximum Profit Output Configuration of Multi-Reservoir Resource Exchange Intermediary.

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This study models a commercial engine using thermodynamics principles to maximize profit. Optimal configurations involve specific commodity and price processes, guiding economic system operations.

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finite time thermodynamicsgeneralized thermodynamic optimizationmaximum profitmulti-reservoir commercial engineoptimal control

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Area of Science:

  • Economics and Thermodynamics
  • Economic modeling and resource exchange

Background:

  • Economic systems can be modeled using thermodynamic principles.
  • Resource exchange intermediaries, or commercial engines, require optimization for maximum profit.

Purpose of the Study:

  • To propose a model of a multi-reservoir resource exchange intermediary (commercial engine).
  • To determine the optimal configuration of a commercial engine for maximum profit output using optimal control theory.

Main Methods:

  • Analogies between thermodynamics and economics.
  • Application of optimal control theory.
  • Numerical examples with a three-economic-subsystem model.

Main Results:

  • Optimal configuration involves two instantaneous constant commodity flux processes and two constant price processes.
  • The optimal configuration is qualitatively independent of the number of economic subsystems and commodity transfer laws.
  • Maximum profit may require certain subsystems to not interact directly with the engine.

Conclusions:

  • The proposed model provides theoretical guidelines for optimizing actual economic processes and systems.
  • The optimal configuration is robust across different economic subsystem numbers and transfer laws.
  • Understanding these principles can enhance the efficiency of resource exchange intermediaries.