Related papers: Thermostatistical Evaluation of Economic Activity
Power-law distributions are widely observed in complex systems, yet establishing their thermodynamic consistency remains a theoretical challenge. In this paper, we present a thermodynamic framework for power-law statistics based on the…
Stochastic thermodynamics as reviewed here systematically provides a framework for extending the notions of classical thermodynamics like work, heat and entropy production to the level of individual trajectories of well-defined…
Simple application of the Einstein model combined with the elastic description of solid state is developed. The frequency of quantum oscillators has been assumed as volume dependent and, furthermore, elastic energy terms of static character…
We study the thermal and non-thermal steady state scaling functions and the steady-state dynamics of a model of local quantum criticality. The model we consider, i.e. the pseudogap Kondo model, allows us to study the concept of effective…
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…
We show how statistical thermodynamics can be formulated in situations in which thermodynamics applies, while equilibrium statistical mechanics does not. A typical case is, in the words of Landau and Lifshitz, that of partial (or…
The fundamental assumption of statistical mechanics is that the system is equally likely in any of the accessible microstates. Based on this assumption, the Boltzmann distribution is derived and the full theory of statistical thermodynamics…
Using the quantum Hamiltonian for a gravitational system with boundary, we find the partition function and derive the resulting thermodynamics. The Hamiltonian is the boundary term required by functional differentiability of the action for…
The foundations of the Boltzmann-Gibbs (BG) distributions for describing equilibrium statistical mechanics of systems are examined. Broadly, they fall into: (i) probabilistic paaroaches based on the principle of equal a priori probability…
We study the inflationary scenario in the Tsallis entropy-based cosmology. The Friedmann equations in this setup can be derived by using the first law of thermodynamics. To derive the relations of the power spectra of the scalar and tensor…
We study the low-temperature thermodynamics of weakly-interacting uniform liquids in one-dimensional attractive Bose-Bose mixtures.~The Bogoliubov approach is used to simultaneously describe quantum and thermal fluctuations. First, we…
We analyze the ergodicity of three one-dimensional Hamiltonian systems, with harmonic, quartic and Mexican-hat potentials, coupled to the logistic thermostat. As criteria for ergodicity we employ: the independence of the Lyapunov spectrum…
Item Price Elasticity is used to quantify the responsiveness of consumer demand to changes in item prices, enabling businesses to create pricing strategies and optimize revenue management. Sectors such as store retail, e-commerce, and…
The basic aspects of both Boltzmann-Gibbs (BG) and nonextensive statistical mechanics can be seen through three different stages. First, the proposal of an entropic functional ($S_{BG} =-k\sum_i p_i \ln p_i$ for the BG formalism) with the…
We derive a course grained, continuum model of the 2D vertex model, applicable for different underlying geometries, and allowing for analytical analysis of an otherwise numerical model. Using a geometric approach and out--of--equilibrium…
Energy consumption in Ecuador has increased significantly during the last decades, affecting negatively the financial position of the country since large energy consumption subsidies are provided in its internal market and Ecuador is mostly…
Large entropy fluctuations in a nonequilibrium steady state of classical mechanics were studied in extensive numerical experiments on a simple 2-freedom model with the so-called Gauss time-reversible thermostat. The local fluctuations (on a…
Economic systems are similar with physic systems for their large number of individuals and the exist of equilibrium. In this paper, we present a model applying the equilibrium statistical model in economic systems. Consistent with…
This paper is about our attempt of identifying trade elasticities through the variations in the exchange rate, for possible applications to the case of services whose physical transactions are veiled in the trade statistics. The regression…
In this communication, the derivation of the Boltzmann-Gibbs and the Maxwellian distributions is presented from a geometrical point of view under the hypothesis of equiprobability. It is shown that both distributions can be obtained by…