Related papers: Thermostatistical Evaluation of Economic Activity
We show that a simple and intuitive three-parameter equation fits remarkably well the evolution of the gross domestic product (GDP) in current and constant dollars of many countries during times of recession and recovery. We then argue that…
The main purpose of this paper is to generalize some recent results obtained by Chilarescu and Manuel Gomez. Essentially, we are trying to study the effect of elasticity of substitution on the parameters of economic growth, based on its two…
This work validates a dynamic production network model, used to quantify the impact of economic shocks caused by COVID-19 in the UK, using data for Belgium. Because the model was published early during the 2020 COVID-19 pandemic, it relied…
Ab initio thermodynamics is a widespread, computationally efficient approach to predict the stable configuration of a surface in contact with a surrounding (gas or liquid) environment. In a prevalent realization of this approach, this…
We investigate the thermodynamic properties of a single inertial probe driven into a nonequilibrium steady-state by random collisions with self-propelled active walkers. The probe and walkers are confined within a gravitational harmonic…
We study the uniqueness and regularity of the steady states of the diffusively driven Boltzmann equation in the physically relevant case where the restitution coefficient depends on the impact velocity including, in particular, the case of…
This paper examines empirical methods for estimating the response of aggregated electricity demand to high-frequency price signals, the short-term elasticity of electricity demand. We investigate how the endogeneity of prices and the…
We study correlation properties of the generalized elastic model which accounts for the dynamics of polymers, membranes, surfaces and fluctuating interfaces, among others. We develop a theoretical framework which leads to the emergence of…
This mathematical essay brings together ideas from Economics, Geobiodynamics and Thermodynamics. Its purpose is to obtain real models of complex evolutionary systems. More specifically, the essay defines Roegenian Economy and links…
Within the description of stochastic differential equations it is argued that the existence of Boltzmann-Gibbs type distribution in economy is independent of the time reversal symmetry in econodynamics. Both power law and exponential…
The thermodynamics and dynamics of supercooled liquids correlate with their elasticity. In particular for covalent networks, the jump of specific heat is small and the liquid is {\it strong} near the threshold valence where the network…
We examine the thermodynamic characteristics of unified quantum statistics as a novel framework that undergoes a crossover between Bose-Einstein and Fermi-Dirac statistics by varying a generalization parameter $\delta$. We find an…
Problem definition: Professional sports leagues may be suspended due to various reasons such as the recent COVID-19 pandemic. A critical question the league must address when re-opening is how to appropriately select a subset of the…
Generic axiomatic-nonextensive statistics characterized by two asymptotic properties, to each of them a scaling function is assigned, characterized by c and d for first and second scaling property, respectively, is formulated in a…
Superstatistics [C. Beck and E.G.D. Cohen, Physica A 322, 267 (2003)] is a formalism aimed at describing statistical properties of a generic extensive quantity E in complex out-of-equilibrium systems in terms of a superposition of…
The dynamics of temperature fluctuations of a gas of Brownian particles in local equilibrium with a nonequilibrium heat bath, are described using an approach consistent with Boltzmann-Gibbs statistics (BG). We use mesoscopic nonequilibrium…
We suggest employing log-ergodic processes to simulate the velocity of money in an ergodic manner. Our approach sheds light on economic behavior, policy implications, and financial dynamics by maintaining long-term stability. By bridging…
We argue that one can model deviations from the ensemble average in non-equilibrium statistical mechanics by promoting the Boltzmann equation to an equation in terms of {\em functionals} , representing possible candidates for phase space…
Smart meter data analysis can provide insights into residential electricity consumption behaviors. Seasonal variation in consumption is not well understood but yet important to utilities for energy pricing and services. This paper aims to…
A robust thermodynamic relation between inflation corrected monetary valuation and energy emerges from existing work. This is based on the energy used, the aggregate efficiency of all production processes ($\Lambda(t)$) in terms of Joules…