Related papers: An Economic analogy to Electrodynamics
The methods of statistical physics of open systems are used for describing the time dependence of economic characteristics (income, profit, cost, supply, currency etc.) and their correlations with each other. Nonlinear equations (analogies…
Several problems arising in Economics and Finance are analyzed using concepts and quantitative methods from Physics. Here is the abridged abstact: Chapter 1: By analogy with energy, the equilibrium probability distribution of money must…
We show that there exists a choice of gauge in which the electromagnetic 4-potential may be written as the difference of two 4-velocity vector fields describing the motion of a two-component space-filling relativistic fluid. Maxwell's…
We propose to unify two a priori distinct aspects of black hole physics : their thermodynamics, and their effective dynamics when they are "skeletonized" as point particles (a useful procedure when tackling, for example, their motion in a…
Maxwell's equations cannot describe a homogeneous and isotropic universe with a uniformly distributed net charge, because the electromagnetic field tensor in such a universe must be vanishing everywhere. For a closed universe with a nonzero…
The constraint equations in Maxwell theory are investigated. In analogy with some recent results on the constraints of general relativity it is shown, regardless of the signature and dimension of the ambient space, that the "divergence of a…
Statistical mechanics provides a useful analog for understanding the behavior of complex adaptive systems, including electric power markets and the power systems they intend to govern. Market-based control is founded on the conjecture that…
We consider the electrodynamics of electric charges and currents in vacuum and then generalise our results to the description of a dielectric and magnetic material medium : first in spatial algebra (SA) and then in space-time algebra (STA).…
In order to extend the limits of classical theory application in the microworld some weak generalization of Maxwell electrodynamics is suggested. It is shown that slightly generalized classical Maxwell electrodynamics can describe the…
We study a class of heterogeneous agent-based models which are based on a basic set of principles, and the most fundamental operations of an economic system: trade and product transformations. A basic guiding principle is scale invariance,…
Causality in electrodynamics is a subject of some confusion, especially regarding the application of Faraday's law and the Ampere-Maxwell law. This has led to the suggestion that we should not teach students that electric and magnetic…
It is shown that the set of equations known as Maxwell's equations perfectly describe two very different systems: (1) the usual electromagnetic phenomena in vacuum or in the matter and (2) the deformation of isotropic solid lattices,…
It is now widely accepted that the Maxwell equations of Electrodynamics constitute a self-consistent set of four independent partial differential equations. According to a certain school of thought, however, half of these equations -…
We consider an elastic-plastic medium whose motion equations are isomorphic to Maxwell's equations. Electrical charges are modeled by pressure centers of the medium. The electric interaction is shown to be concerned with the conservation…
We demonstrated the analogy between Economics and Gauge Theory of Plasticity and used it to describe the relationship between money supply and inflation at the economic market. The received equations of economical dynamics in phase space…
The differential form of the Maxwell's equations was first derived based on an assumption that the media are stationary, which is the foundation for describing the electro-magnetic coupling behavior of a system. For a general case in which…
We demonstrate how to derive Maxwell's equations, including Faraday's law and Maxwell's correction to Amp\`ere's law, by generalizing the description of static electromagnetism to dynamical situations. Thereby, Faraday's law is introduced…
Current business cycle theory is an application of the general equilibrium theory. This paper presents the business cycle model without using general equilibrium framework. We treat agents risk assessments as their coordinates x on economic…
We show that a reformulation of the ADM equations in general relativity, which has dramatically improved the stability properties of numerical implementations, has a direct analogue in classical electrodynamics. We numerically integrate…
We outline a regular way for solving Maxwell's equations. We take, as the starting point, the notion of vector potentials. The rationale for introducing this notion in electrodynamics is that the set of Maxwell's equations is seemingly…