Multifactor Complex-Valued Models of Economy

Abstract

The economy as an object of research is a multifactor system. This is why to provide adequate modeling, multifactor models should be applied. This chapter considers multifactor, complex-valued models with respect to production functions. The production performance is represented in the form of a complex variable where the gross margin refers to the real part and the production costs to the imaginary part. The production resource is represented by two complex variables. The first variable characterizes capital expenses and is represented in complex form. Its real part includes costs of fixed production assets, and its imaginary part thecosts of fixed nonproduction assets. The second complex variable characterizes the labor costs and is also represented as a complex variable. Its real part comprises industrial production capital, and its imaginary part – nonproduction workers.