Abstract
In the present work we discuss a third alternative to explain the latest observational data concerning the accelerating Universe and its different stages. The particle creation mechanism in the framework of non-equilibrium thermodynamics is considered as a basic cosmic mechanism acting on the flat FRW geometry. By assuming that the gravitationally induced particle production occurs under "adiabatic" conditions, the deceleration parameter is expressed in terms of the particle creation rate which is chosen as a truncated power series of the Hubble parameter. The model shows the evolution of the Universe starting from inflation to the present late time acceleration and it also predicts future decelerating stage.
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