Related papers: The Cobb-Douglas Production Function and the Old B…
A central question in economics is whether automation will displace human labor and diminish standards of living. Whilst prior works typically frame this question as a competition between human labor and machines, we frame it as a…
In this paper we study the volatility and its probability distribution function for the cumulative production based on the experience curve hypothesis. This work presents a generalization of the study of volatility in [1], which addressed…
We analyze the evolution of cumulative national shares of Nobel Prizes since 1901, properly taking into account that most prizes were divided among several laureates. We rank by citizenship at the moment of the award, and by country of…
In this paper we provide a novel family of stochastic orders that generalizes second order stochastic dominance, which we call the $\alpha,[a,b]$-concave stochastic orders. These stochastic orders are generated by a novel set of "very"…
A stochastic version of the Noether Theorem is derived for systems under the action of external random forces. The concept of moment generating functional is employed to describe the symmetry of the stochastic forces. The theorem is applied…
We analyze three sets of income data: the US Panel Study of Income Dynamics PSID), the British Household Panel Survey (BHPS), and the German Socio-Economic Panel (GSOEP). It is shown that the empirical income distribution is consistent with…
The cyclicity and Koblitz conjectures ask about the distribution of primes of cyclic and prime-order reduction, respectively, for elliptic curves over $\mathbb{Q}$. In 1976, Serre gave a conditional proof of the cyclicity conjecture, but…
Using the Generalised Lotka Volterra (GLV) model adapted to deal with muti agent systems we can investigate economic systems from a general viewpoint and obtain generic features common to most economies. Assuming only weak generic…
This letter treats of the power-law distribution of the sales of items. We propose a simple stochastic model which expresses a selling process of an item. This model produces a stationary power-law distribution, whose power-law exponent is…
Starting from the BBGKY hierarchy, describing the kinetics of nonlinear particle system, we obtain the relevant entropy and stationary distribution function. Subsequently, by employing the Lorentz transformations we propose the relativistic…
A continuous approximation for the results of [1] is obtained. In this approximation the energy distribution is represented in the form of the product of the Gibbs factor and superstatistics factor. The mutual weights of the factors are…
In economics, construction of perfect models in a way that would be comparable to the standards customary in physical sciences is generally not feasible. In particular, the observed value for an economic equilibrium may deviate…
Scientific and technological progress is largely driven by firms in many domains, including artificial intelligence and vaccine development. However, we do not know yet whether the success of firms' research activities exhibits dynamic…
In 1876, Lewis Carroll proposed a voting system in which the winner is the candidate who with the fewest changes in voters' preferences becomes a Condorcet winner---a candidate who beats all other candidates in pairwise majority-rule…
Building on the notion of $q$-integral introduced by Thomae in 1869, we introduce $q$-order statistics (that, is $q$-analogues of the classical order statistics, for $0<q<1$) which arise from dependent and not identically distributed…
This paper proposes a new, Beveridgean model of the Phillips curve. While the New Keynesian Phillips Curve is based on monopolistic pricing under price-adjustment costs, the Beveridgean Phillips curve is based on directed-search pricing…
This Chapter reviews statistical models for the probability distribution of money developed in the econophysics literature since the late 1990s. In these models, economic transactions are modeled as random transfers of money between the…
This dissertation reports work where physics methods are applied to financial and economical problems. The first part studies stock market data (chapter 1 to 5). The second part is devoted to personal income in the USA (chapter 6). We first…
Each production establishment is assumed to have, at any given time, a unique combination of capital and labor (a Leontief function), but the aggregate output at that same time must still be modeled with a Cobb-Douglas function (or a CES,…
Taking as a hypothesis a form of the labour theory of value, and $without$ $assuming$ $equilibrium$, we derive an equation that yields the profit-rate $\pi$ as a function of time. For a mature economy, $\pi(t)$ reduces to the product of two…