Things like that do get considered in theoretical chemistry.
For further discussion I would suggest you forget the complication for the moment of the α, β γ, just let us suppose they are all 1, which is complicated enough to be going on with.
The thing to realize is that your scheme cannot be the complete representation of anything chemical.
The scheme shows A transforming into B and then back into A going through C. But if that were all, in normal chemistry B can transform back directly into A.So a normal chemical scheme would include the reverse arrows at each step, one from B back to A and from A directly to C. etc. For a normal chemical reaction there would be a constraint on these rate constants
k
abk
bck
ca = k
ack
cbk
ba
(obvious notation). This is called the "Principle of microscopic reversibility" - there are some quibbles about that and some prefer "principle of detailed balance".
The result of these principles is, you might say, boringness. Kinetics that could happen if it were not true do not happen normally.
So why think about it at all? As I said, it cannot be your schemes cannot be the
complete representation of anything chemical. But it can represent something of which you have left out a part. for example , suppose one of the arrows represent a photochemical reaction (with constant illumination). Then the rate constants are not bound by the above equation. You have an input of energy which is not shown in the scheme. In a long time the system does not reach a true equilibrium, but a
steady state.Unlike the approach to equilibrium, the approach to the steady state may not be monotonic. In many chemical mechanisms steady states are of interest and may be represented in figures looking like your scheme. Example, in enzyme kinetics you get schemes like illustrated below (sorry for quality). Here a substance, x, combines with enzyme E which exists in two interconvertible forms E and E', to form the interconvertible enzyme-substrate complexes EX, E'X which then convert into the reaction product P regenerating E and E'. Here E is produced from EX by two different processes – dissociation and catalytic breakdown. The effective rate constant for EX → E Is the sum of the two rate constants. We can observe reactions over a time where the total concentration of x is essentially constant, so we have a steady state. The microscopic reversibility relations hold for the disassociation rate constants only, not necessarily for the overall ones.
The equations for the resulting steady-state kinetics are complicated!
I can find some references for anyone interested. I would also be interested to hear from anyone else, firstly because I have the impression that this subject is dealt with within different specialities who do not know about each other, secondly because I would like to be brought up to date!