Related papers: Entropy and Economics
`Entropy' appears as driving force in many different evolution equations, both deterministic and stochastic, and in these equations this `entropy' also takes different forms. We show how all these examples can be understood as different…
Thermodynamics have been applied to astronomy, biology, psychology, some social systems and so on. But, various evolutions from astronomy to biology and social systems cannot be only increase of entropy. When fluctuations are magnified due…
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…
An axiomatic approach to macroeconomics based on the mathematical structure of thermodynamics is presented. It deduces relations between aggregate properties of an economy, concerning quantities and flows of goods and money, prices and the…
These lectures deal with the problem of inductive inference, that is, the problem of reasoning under conditions of incomplete information. Is there a general method for handling uncertainty? Or, at least, are there rules that could in…
The Renyi entropy is a generalization of the usual concept of entropy which depends on a parameter q. In fact, Renyi entropy is closely related to free energy. Suppose we start with a system in thermal equilibrium and then suddenly divide…
Free energy and entropy are examined in detail from the standpoint of classical thermodynamics. The approach is logically based on the fact that thermodynamic work is mediated by thermal energy through the tendency for nonthermal energy to…
The routine definitions of both entropy, and differential entropy show inconsistencies that make them not reciprocally coherent. We propose a few possible modifications of these quantities so that 1) they no longer show incongruities, 2)…
Thermodynamics can be formulated in either of two approaches, the phenomenological approach, which refers to the macroscopic properties of systems, and the statistical approach, which describes systems in terms of their microscopic…
We discuss and compare different definitions of the entropy of a black hole. In particular we show that the thermodynamical entropy defined by the response of the free energy of a black hole to the change of temperature does not coincide…
Entropy is a quantity for counting physical degrees of freedom in a system. At a finite temperature, one can use thermal entropy to study thermodynamical properties. At zero temperature, entanglement entropy is expected to provide a…
The entropy production is commonly interpreted as measuring the distance from equilibrium. However, this explanation lacks a rigorous description due to the absence of a natural equilibrium measure. The present analysis formalizes this…
Thermodynamic entropy, as defined by Clausius, characterizes macroscopic observations of a system based on phenomenological quantities such as temperature and heat. In contrast, information-theoretic entropy, introduced by Shannon, is a…
In the scientific and engineering literature, the second law of thermodynamics is expressed in terms of the behavior of entropy in reversible and irreversible processes. According to the prevailing statistical mechanics interpretation the…
This paper addresses fundamental aspects of statistical mechanics such as the motivation of a classical state space with spontaneous transitions, the meaning of non-equilibrium in the context of thermalization, and the justification of…
Entropic dynamics is a framework for defining dynamical systems that is aligned with the principles of information theory. In an entropic dynamics model for motion on a statistical manifold, we find that the rate of changes for expected…
The concept of entropy in statistical physics is related to the existence of irreversible macroscopic processes. In this work, we explore a recently introduced entropy formula for a class of stochastic processes with more than one absorbing…
We use rigorous non-equilibrium thermodynamic arguments to prove (i) the residual entropy of any system is bounded below by the experimentally (calorimetrically) determined absolute temperature entropy, which itself is bounded below by the…
Ever since Claude Shannon used entropy for his "Mathematical Theory of Communication", entropy has become a buzzword in research circles with scientists applying entropy to describe any phenomena that are reminiscent of disorder. In this…
Many theoretical expressions of dissipation along non-equilibrium processes have been proposed. However, they have not been fully verified by experiments. Especially for systems strongly interacting with environments the connection between…