Related papers: Thermostatistical Evaluation of Economic Activity
A thermodynamic approach to the description of economic systems and processes is developed. It is shown that there is a deep analogy between the parameters of thermodynamic and economic systems (markets); so each thermodynamic parameter can…
We examine the effect of non-equilibrium processes modeled by the introduction of a generalized Boltzmann factor on the thermal and magnetic properties of an array of two-dimensional GaAs quantum dots in the presence of an external uniform…
We extend the recently developed non-gaussian thermodynamic formalism \cite{tre98} of a (presumably strongly turbulent) non-Markovian medium to its most general form that allows for the formulation of a consistent thermodynamic theory. All…
This paper develops a comprehensive theoretical framework that imports concepts from stochastic thermodynamics to model price impact and characterize the feasibility of round-trip arbitrage in financial markets. A trading cycle is treated…
We brief{}ly review the connection between statistical mechanics and thermodynamics. We show that, in order to satisfy thermodynamics and its Legendre transformation mathematical frame, the celebrated Boltzmann-Gibbs~(BG) statistical…
We present an extensive thermodynamic analysis of a hysteresis experiment performed on a simplified yet Earth-like climate model. We slowly vary the solar constant by 20% around the present value and detect a substantial bistability: for a…
Sports organizations often want to estimate athlete strengths. For games with scored outcomes, a common approach is to assume observed game scores follow a normal distribution conditional on athletes' latent abilities, which may change over…
Our previous works have shown the statistical mechanics of self-gravitating system. In this paper, we will show its thermodynamics and compare our results with observations and simulations. We propose that our statistical mechanics can be…
We investigate activities that have different periods of duration. We define the profit intensity as a measure of this economic category. The profit intensity in a repeated trading has a unique property of attaining its maximum at a fixed…
The spread of COVID-19 and ensuing containment measures have accentuated the profound interdependence among nations or regions. This has been particularly evident in tourism, one of the sectors most affected by uncoordinated mobility…
The thermodynamic properties of subsystems in strong interaction with the neighborhood can largely differ from the standard behavior. Here we study the thermodynamic properties of rings and triplets in equilibrated disordered 2D-silica.…
Statistical models of economic distributions lead to Boltzmann distributions rather than a Pareto power law. This result is supported by two facts: 1. the distributions of income, car sales, marriages or jobs are a matter of chances and…
An unified thermodynamical framework based in the use of a generalized Massieu-Planck thermodynamic potential is proposed and a new formulation of Boltzmann-Gibbs Statistical Mechanics is established. Under this philosophy a generalization…
We study a supersolid in the context of a Gross-Pitaevskii theory with a non-local effective potential. We employ a homogenisation technique which allows us to calculate the elastic moduli, supersolid fraction and other state variables of…
Thermodynamic quantities, like heat, entropy, or work, are random variables, in stochastic systems. Here, we investigate the statistics of the heat exchanged by a Brownian particle subjected to a logarithm-harmonic potential. We derive…
This paper reviews various applications of the theory of smooth dynamical systems to conceptual problems of nonequilibrium statistical mechanics. We adopt a new point of view which has emerged progressively in recent years, and which takes…
I introduce a novel approach to structural modelling and estimation of continuous demand systems, utilising consideration sets to analyse differentiated products markets with very large choice sets and purchases over multiple goods,…
As countries develop, the relative importance of agriculture declines and economic activity becomes spatially concentrated. We develop a model integrating structural change and regional disparities to jointly capture these phenomena. A key…
A novel geometric formalism for statistical estimation is applied here to the canonical distribution of classical statistical mechanics. In this scheme thermodynamic states, or equivalently, statistical mechanical states, can be…
We analyze social and economic systems with a hierarchical structure and show that for such systems, it is possible to construct thermostatistics, based on the intermediate Gentile statistics. We show that in social and economic…