Related papers: Entropy Oriented Trading: A Trading Strategy Based…
This paper develops a comprehensive theoretical framework that imports concepts from stochastic thermodynamics to model price impact and characterize the feasibility of round-trip arbitrage in financial markets. A trading cycle is treated…
In statistical thermodynamics the 2nd law is properly spelled out in terms of conditioned probabilities. As such it makes the statement, that `entropy increases with time' without preferring a time direction. In this paper I try to explain…
Expected utility maximization problems in mathematical finance lead to a generalization of the classical definition of entropy. It is demonstrated that a necessary and sufficient condition for the second law of thermodynamics to operate is…
This article is a short version of a longer article to appear in Physics Reports (cond-mat/9708200). The essential postulates of classical thermodynamics are formulated, from which the second law is deduced as the principle of increase of…
The second law of thermodynamics states that the entropy of an isolated system is almost always increasing. We propose combinatorial formalizations of the second law and explore their conditions of possibilities.
The second law of thermodynamics is discussed and reformulated from a quantum information theoretic perspective for open quantum systems using relative entropy. Specifically, the relative entropy of a quantum state with respect to…
This paper is a non-technical, informal presentation of our theory of the second law of thermodynamics as a law that is independent of statistical mechanics and that is derivable solely from certain simple assumptions about adiabatic…
A major part of the many thermally driven processes in our natural environment as well as in engineering solutions of Carnot-type machinery is based on the second law of thermodynamics (or principle of entropy increase). An interesting link…
The dynamics of molecular collisions in a macroscopic body are encoded by the parameter Thermodynamic entropy - a statistical measure of the number of molecular configurations that correspond to a given macrostate. Directionality in the…
Free energy and entropy are examined in detail from the standpoint of classical thermodynamics. The approach is logically based on the fact that thermodynamic work is mediated by thermal energy through the tendency for nonthermal energy to…
We argue that the entanglement entropy for a very small subsystem obeys a property which is analogous to the first law of thermodynamics when we excite the system. In relativistic setups, its effective temperature is proportional to the…
The paper present one of attempts to apply the thermodynamics laws to economics. Introducing common thermodynamic parameters and considering world economics as a one macrosystem, authors demonstrate the possible consequences of entropy…
The essential postulates of classical thermodynamics are formulated, from which the second law is deduced as the principle of increase of entropy in irreversible adiabatic processes that take one equilibrium state to another. The entropy…
Entanglement is central both to the foundations of quantum theory and, as a novel resource, to quantum information science. The theory of entanglement establishes basic laws, such as the non-increase of entanglement under local operations,…
It exists a large class of systems for which the traditional notion of extensivity breaks down. From experimental examples we induce two general hypothesis concerning such systems. In the first the existence of an internal coordinate system…
This paper is the second part of a previous paper (Marquet, 2019) dealing with the need to define the entropy with an absolute way, by using the third law of thermodynamics. In this second part it is shown that there is a need and interest…
I argue here that both the first and second laws of thermodynamics, generally understood to be quintessentially physical in nature, can be equally well described as being about certain types of information without the need to invoke…
The microscopic explanation of entropy has been challenged from both experimental and theoretical point of view. The expression of entropy is derived from the first law of thermodynamics indicating that entropy or the second law of…
We argue that on its face, entanglement theory satisfies laws equivalent to thermodynamics if the theory can be made reversible by adding certain bound entangled states as a free resource during entanglement manipulation. Subject to…
We consider the thermodynamic approach to the description of economic systems and processes. The first and second laws of thermodynamics as applied to economic systems are derived and analyzed. It is shown that there is a deep analogy…