Related papers: Thermodynamics Formulation of Economics
This article derives prognostic expressions for the evolution of globally aggregated economic wealth, productivity, inflation, technological change, innovation and growth. The approach is to treat civilization as an open, non-equilibrium…
Thermodynamics is commonly presented as a theory of macroscopic systems in stable equilibrium, built upon assumptions of extensivity and scaling with system size. In this paper, we present a universal formulation of the elementary…
We develop the laws of thermodynamics in terms of general exponential families. By casting learning (log-loss minimization) problems in max-entropy and statistical mechanics terms, we translate thermodynamics results to learning scenarios.…
In this paper, we test predictions of a new theory of macroeconomics, called "thermal macroeconomics." The theory aims to apply the mathematical structure of classical thermodynamics, including analogues of temperature and entropy, to…
Economic systems are similar with physic systems for their large number of individuals and the exist of equilibrium. In this paper, we present a model applying the equilibrium statistical model in economic systems. Consistent with…
Equations of State (EoS) for fluids have been a staple of engineering design and practice for over a century. Available EoS are based on the fitting of a closed-form analytical expression to suitable experimental data. The underlying…
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…
The essence of the second law of classical thermodynamics is the `entropy principle' which asserts the existence of an additive and extensive entropy function, S, that is defined for all equilibrium states of thermodynamic systems and whose…
The hard sphere system plays a basic role in condensed matter physics and related fields, and equation of state (EoS) is the ultimate solution to its thermodynamic properties (1-3). Dozens of EoSs have been proposed since van der Waals…
Starting from a plausible assumption about the Total Revenue concept, a system of economic agents, that simulates the exchange of goods, is studied. Following a methodology equivalent to that used in the statistical-mechanical determination…
Thermodynamic relations are derived from first principles of mechanics for non-equilibrium processes. Since the key role herein is played by the law of increase of entropy, the latter is analyzed at first. It is shown that its derivation…
Relativistic temperature of gas raises the issue of the equation of state (EoS) in relativistic hydrodynamics. We study the EoS for numerical relativistic hydrodynamics, and propose a new EoS that is simple and yet approximates very closely…
Historically, the thermodynamic behavior of gasses was described first and the derived equations were adapted to solids. It is suggested that the current thermodynamic description of solid phase is still incomplete because the isothermal…
An Equation of State (\textit{EoS}) closes the set of fluid equations. Although an ideal EoS with a constant \textit{adiabatic index} $\Gamma$ is the preferred choice due to its simplistic implementation, many astrophysical fluid…
We investigate the cosmological implications of a generalized total equation of state (EoS) model by constraining its parameters using observational datasets to effectively characterize the universe's expansion history and its dynamic…
The postulational basis of classical thermodynamics has been expanded to incorporate equilibrium fluctuations. The main additional elements of the proposed thermodynamic theory are the concept of quasi-equilibrium states, a definition of…
Econophysics is an approach to quantitative economy using ideas, models, conceptual and computational methods of statistical physics. In recent years many of physical theories like theory of turbulence, scaling, random matrix theory or…
The standard formulation of thermostatistics, being based on the Boltzmann-Gibbs distribution and logarithmic Shannon entropy, describes idealized uncorrelated systems with extensive energies and short-range interactions. In this letter, we…
On the basis of information theory, a new formalism of classical non-relativistic mechanics of a mass point is proposed. The particle trajectories of a general dynamical system defined on an (1+n)-dimensional smooth manifold are treated…
We show how statistical thermodynamics can be formulated in situations in which thermodynamics applies, while equilibrium statistical mechanics does not. A typical case is, in the words of Landau and Lifshitz, that of partial (or…