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The uncertainty relation is a distinctive characteristic of quantum theory. The uncertainty is essentially rooted in quantum states. In this work we regard the uncertainty as an intrinsic property of quantum state and characterize it…
Kinetic equations play a major rule in modeling large systems of interacting particles. Recently the legacy of classical kinetic theory found novel applications in socio-economic and life sciences, where processes characterized by large…
The aim of "A glance beyond the quantum model" [arXiv:0907.0372] to modernize the Correspondence Principle is compromised by an assumption that a classical model must start with the idea of particles, whereas in empirical terms particles…
This article is a supplement to my main contribution to the Routledge Handbook of Complexity Economics (2023). On the basis of three recent papers, it presents an unconventional perspective on economic inequality from a statistical physics…
Quantum mechanics has enjoyed a multitude of successes since its formulation in the early twentieth century. At the same time, it has generated puzzles that persist to this day. These puzzles have inspired a large literature in physics and…
The purpose of this paper is to provide a confession of sorts from an economist to political science and philosophy. A confession of the weaknesses of the political position of the economist. It is intended as a guide for political…
Is the present economic and financial crisis similar to some previous one? It would be so nice to prove that universality laws exist for predicting such rare events under a minimum set of realistic hypotheses. First, I briefly recall…
A specific theoretical framework is important for designing and conducting an experiment, and for interpretation of its results. The field of gravitational physics is expanding, and more clarity is needed. It appears that some popular…
Quantum "states" are objective probability measures. Because their dependence on a time is not the time dependence of an evolving state, they are neither states of Nature nor "states of knowledge." There is no such thing as an evolving…
Uncertainty is an important and fundamental concept in physics education. Students are often first exposed to uncertainty in introductory labs, expand their knowledge across lab courses, and then are introduced to quantum mechanical…
The notion of entropy penetrates much of science. A key feature of the all-important notion of Boltzmann-Gibbs-Shannon entropy is its extensivity (additivity over independent subsystems). However, there is a need for other quantities. In…
What is Statistics? Opinions vary. In fact, there is a continuous spectrum of attitudes toward statistics ranging from pure theoreticians, proving asymptotic efficiency and searching for most powerful tests, to wild practitioners, blindly…
Inverse statistics in economics is considered. We argue that the natural candidate for such statistics is the investment horizons distribution. This distribution of waiting times needed to achieve a predefined level of return is obtained…
The violation of Bell inequalities by experiment has convinced physicists that we cannot maintain a classical view of the world. When we argue against the possibility of local realist hidden-variable models, however, the ubiquitous…
Theoretical physics is the search for simple and universal mathematical descriptions of the natural world. In contrast, much of modern biology is an exploration of the complexity and diversity of life. For many, this contrast is prima facie…
Econophysics, is based on the premise that some ideas and methods from physics can be applied to economic situations. We intend to show in this paper how a physics concept such as entropy can be applied to an economic problem. In so doing,…
The role of mathematical models in physics has for longer been well established. The issue of their proper building and use appears to be less clear. Examples in this regard from relativity and quantum mechanics are mentioned. Comments…
Financial instability has become a significant issue in today's society. While research typically focuses on financial aspects, there is a tendency to overlook time-related aspects of unstable work schedules. The inability to rely on…
Quantum theory's irreducible empirical core is a probability calculus. While it presupposes the events to which (and on the basis of which) it serves to assign probabilities, and therefore cannot account for their occurrence, it has to be…
In the last decade, a large body of literature has been developed to explain the universal features of inequality in terms of income and wealth. By now, it is established that the distributions of income and wealth in various economies show…