Related papers: Entropy and Economics
Maximum Entropy is a powerful concept that entails a sharp separation between relevant and irrelevant variables. It is typically invoked in inference, once an assumption is made on what the relevant variables are, in order to estimate a…
Entropy is one of the most fundamental quantities in physics. For systems with few degrees of freedom, the value of entropy provides a powerful insight into its microscopic dynamics, such as the number, degeneracy and relative energies of…
The theory of thermal macroeconomics (TM) analyses economic phenomena within the mathematical framework of classical thermodynamics, using a set of axioms that apply to the purely macroscopic aspects of an economy [CM]. The theory shows…
The notion of metric entropy dimension is introduced to measure the complexity of entropy zero dynamical systems. For measure preserving systems, we define entropy dimension via the dimension of entropy generating sequences. This…
The total entropy production fluctuations are studied in some exactly solvable models. For these systems, the detailed fluctuation theorem holds even in the transient state, provided initially the system is prepared in thermal equilibrium.…
This paper presents a conceptual model describing the medium and long-term co-evolution of natural and socio-economic subsystems of Earth. An economy is viewed as an out-of-equilibrium dissipative structure that can only be maintained with…
The chemical reactions are very complex, and include oscillation, condensation, catalyst and self-organization, etc. In these case changes of entropy may increase or decrease. The second law of thermodynamics is based on an isolated system…
Entropy generation in quantum sytems is tied to the existence of a nonclassical environment (heat bath or other) with which the system interacts. The continuous `measuring' of the open system by its environment induces decoherence of its…
We consider the thermodynamic approach to the description of economic systems and processes. The first and second laws of thermodynamics as applied to economic systems are derived and analyzed. It is shown that there is a deep analogy…
The stochastic entropy generated during the evolution of a system interacting with an environment may be separated into three components, but only two of these have a non-negative mean. The third component of entropy production is…
We use a simple hard-core gas model to study the dynamics of small exploding systems. The system is initially prepared in a thermalized state in a spherical container and then allowed to expand freely into the vacuum. We follow the…
Thermodynamic entropy is determined by a heat measurement through the Clausius equality. The entropy then formalizes a fundamental limitation of operations by the second law of thermodynamics. The entropy is also expressed as the Shannon…
We consider critical models in one dimension. We study the ground state in thermodynamic limit [infinite lattice]. Following Bennett, Bernstein, Popescu, and Schumacher, we use the entropy of a sub-system as a measure of entanglement. We…
We study the entanglement entropy arising from coherent states and one--particle states. We show that it is possible to define a finite entanglement entropy by subtracting the vacuum entropy from that of the considered states, when the…
In a recent paper Andrei N. Soklakov explained the foundations of the Lagrangian formulation of classical particle mechanics by means of Kolmogorov complexity. In the present paper we use some of Soklakov ideas in order to derive the second…
Trying to identify the entropy production within a cell has been part of debates and studies in the last century. First the idea was to make a resemblance of a cell with a Carnot engine, which is the most thermodynamically perfect machine.…
A very simplified model of the Universe is considered in order to propose an alternative approach to the irreversible evolution of the Universe at very early times. The entropy generation at the quantum stage can be thought as a consequence…
In classical thermodynamics the entropy is an extensive quantity, i.e.\ the sum of the entropies of two subsystems in equilibrium with each other is equal to the entropy of the full system consisting of the two subsystems. The extensitivity…
Since the 1960s, the question whether markets are efficient or not is controversially discussed. One reason for the difficulty to overcome the controversy is the lack of a universal, but also precise, quantitative definition of efficiency…
Uncertainty is an important feature of dynamic systems, and entropy has been widely used to measure this attribute. In this Letter, we prove that state aggregation and decomposition can decrease and increase the entropy, respectively, of…