Related papers: On the Connection between Temperature and Volatili…
Models for spin systems, known from statistical physics, are applied analogously in econometrics in the form of agent-based models. The models discussed in the econophysics literature all use the state variable $T$, which, in physics,…
Models for spin systems known from statistical physics are used in econometrics in the form of agent-based models. Econophysics research in econometrics is increasingly developing general market models that describe exchange phenomena and…
Choice models for populations of agents on graphs are studied in terms of statistical thermodynamics. Equations of state are derived and discussed for different connectivity schemes, utility approximations, and temperature and volume…
In traditional thermodynamics, temperature is a local quantity: a subsystem of a large thermal system is in a thermal state at the same temperature as the original system. For strongly interacting systems, however, the locality of…
We study the statistical properties of the sum $S_t=\int_{0}^{t}dt' \sigma_{t'}$, that is the difference of time spent positive or negative by the spin $\sigma_{t}$, located at a given site of a $D$-dimensional Ising model evolving under…
In this paper, we reconsider the spin model suggested recently to understand some features of collective decision making among higher organisms [A.T. Hartnett et al., Phys. Rev. Lett. 116 (2016) 038701]. Within the model, the state of an…
In this work we study spin-glass (SG) like behavior in the dynamics of multiple agents in a social or economic context using interactions which are similar to the physical case. The different preferences shown by individual agents are…
The temperature dependences of the conductivity \sigma(T) for strongly interacting 2D electron system in silicon have been analyzed both in zero magnetic field and in spin-polarizing magnetic field of 14.2T, parallel to the sample plane.…
In a closed economic system, money is conserved. Thus, by analogy with energy, the equilibrium probability distribution of money must follow the exponential Gibbs law characterized by an effective temperature equal to the average amount of…
A diathermal wall between two heat baths at different temperatures can be mimicked by a layer of independent spin pairs with some internal energy and where each spin $\sigma_a$ is flipped by thermostat $a$ ($a=1,2$). The transition rates…
A numerical agent-based spin model of financial markets, based on the Potts model from statistical mechanics, with a novel interpretation of the spin variable (as regards financial-market models) is presented. In this model, a value of the…
Individual traffic significantly contributes to climate change and environmental degradation. Therefore, innovation in sustainable mobility is gaining importance as it helps to reduce environmental pollution. However, effects of new ideas…
Agent-based modeling is a powerful simulation technique to understand the collective behavior and microscopic interaction in complex financial systems. Recently, the concept for determining the key parameters of the agent-based models from…
We study a statistical model consisting of $N$ basic units which interact with each other by exchanging a physical entity, according to a given microscopic random law, depending on a parameter $\lambda$. We focus on the equilibrium or…
The explicit thermodynamic functions, in particular, the specific heat of a spin system interacting with a spin bath which exerts finite dissipation on the system are determined. We show that the specific heat is a sum of the products of a…
In this paper, we discuss different models for human logic systems and describe a game with nature. Godel`s incompleteness theorem is taken into account to construct a model of logical networks based on axioms obtained by symmetry breaking.…
We analyze income tax evasion dynamics in a standard model of statistical mechanics, the Ising model of ferromagnetism. However, in contrast to previous research, we use an inhomogeneous multi-dimensional Ising model where the local degrees…
Temperature of a finite-sized system fluctuates due to the thermal fluctuations. However, a systematic mathematical framework for measuring or estimating the temperature is still underdeveloped. Here, we incorporate the estimation theory in…
We discuss recent work in the study of a simple model for the collective behaviour of diverse speculative agents in an idealized stockmarket, considered from the perspective of the statistical physics of many-body systems. The only…
By treating the financial market as a thermodynamic system, we establish a one-to-one correspondence between thermodynamic variables and economic quantities. Measured by the expected loss under the worst-case scenario, financial risk caused…