Related papers: Refuting Samuelson's Capitulation on the Re-switch…
The possibility of re-switching of techniques in Piero Sraffa's intersectoral model, namely the returning capital-intensive techniques with monotonic changes in the profit rate, is traditionally considered as a paradox putting at stake the…
Under very general conditions, we construct a micro-macro model for closed economy with a large number of heterogeneous agents. By introducing both financial capital (i.e. valued capital---- equities of firms) and physical capital (i.e.…
Some physical aspects related to the limit operations of the Thomson lamp are discussed. Regardless of the formally unbounded and even infinite number of "steps" involved, the physical limit has an operational meaning in agreement with the…
Most believe that there are no empirical grounds that make the adoption of quantum logic necessary. Ian Rumfitt has further argued that this adoption is not possible, either, for the proof that distribution fails in quantum mechanics is…
We study how Thomson's formulation of the second law: no work is extracted from an equilibrium ensemble by a cyclic process, emerges in the quantum situation through the averaging over fluctuations of work. The latter concept is carefully…
Few things in physics have caused so much hand-wringing as von Neumann's collapse hypothesis. Unable to derive it mathematically, von Neumann attributed it to interaction with the observer's brain! Few physicists agreed, but tweaks of von…
Considering the production processes, it was noted that the use of various equipment leads to an increase in output -- the phenomenon that is usually described as the substitution of labor with capital. The proposed theory of substitution…
Often, the microscopic interaction mechanism of an open quantum system gives rise to a `counter term' which renormalises the system Hamiltonian. Such term compensates for the distortion of the system's potential due to the finite coupling…
Cramer's (1986) transactional interpretation of quantum mechanics posits retrocausal influences in quantum processes in an attempt to alleviate some of the interpretational difficulties of the Copenhagen interpretation. In response to…
The relevance of Adam Smith for understanding human morality and sociality is recognized in the growing interest in his work on moral sentiments among scholars of various academic backgrounds. But, paradoxically, Adam Smith's theory of…
Many economic theories have been introduced over the course of history to articulate our understanding of the economy. Classical theories by Adam Smith and David Ricardo's Comparative Advantage have been foundational for the last century's…
Nearing a century since its inception, quantum mechanics is as lively as ever. Its signature manifestations, such as superposition, wave-particle duality, uncertainty principle, entanglement and nonlocality, were long confronted as weird…
The view that Peacock's principle of permanence has been invalidated by Hamilton's introduction of non-commutative algebras has always seemed rather odd, in light of Peacock's favorable reception of quaternions and the endorsement of his…
In a previous article [1] we presented an argument to obtain (or rather infer) Born's rule, based on a simple set of axioms named "Contexts, Systems and Modalities" (CSM). In this approach there is no "emergence", but the structure of…
The issue of how time reversible microscopic dynamics gives rise to macroscopic irreversible processes has been a recurrent issue in Physics since the time of Boltzmann whose ideas shaped, and essentially resolved, such an apparent…
Three conjectures from [R. Hegselmann, The Journal of Artificial Societies and Social Simulations 26(4), 11 (2023)] about the Hegselmann-Krause opinion dynamics and the structure of $\epsilon$-switches are proved. The first conjecture…
"Rational bubble", as introduced by the famous paper on money by Samuelson (1958), means speculation backed by nothing. The large subsequent rational bubble literature has identified attaching bubbles to dividend-paying assets in a natural…
This research studies the relation between money and prices and its practical implications analyzing quarterly data from United States (1959-2022), Canada (1961-2022), United Kingdom (1986-2022), and Brazil (1996-2022). The historical,…
L.J. Savage once hoped to show that "the superficially incompatible systems of ideas associated on the one hand with [subjective Bayesianism] and on the other hand with [classical statistics]...lend each other mutual support and…
Every function over the natural numbers has an infinite subdomain on which the function is non-decreasing. Motivated by a question of Dzhafarov and Schweber, we study the reverse mathematics of variants of this statement. It turns out that…