Related papers: Thermodynamics and Economics
The climate is a forced and dissipative nonlinear system featuring non-trivial dynamics of a vast range of spatial and temporal scales. The understanding of the climate's structural and multiscale properties is crucial for the provision of…
After the justification of the maximum entropy approach for equilibrium thermodynamic system, and of a maximum path entropy algorithm for nonequilibrium thermodynamic systems by virtue of the principle of virtual work, we present in this…
We outline a phenomenological theory of evolution and origin of life by combining the formalism of classical thermodynamics with a statistical description of learning. The maximum entropy principle constrained by the requirement for…
Chater and MacKay [CM] derived an entropy function of state for exchange economies satisfying a list of axioms, and showed that a change of state of a system of such economies is possible if and only if their total entropy does not…
Heat can flow from cold to hot at any phase separation. Therefore Lynden-Bell's gravo-thermal catastrophe must be reconsidered. The original objects of Thermodynamics, the separation of phases at first order phase transitions, like boiling…
The variational method is very important in mathematical and theoretical physics because it allows us to describe the natural systems by physical quantities independently from the frame of reference used. A global and statistical approach…
Statistical mechanics provides a useful analog for understanding the behavior of complex adaptive systems, including electric power markets and the power systems they intend to govern. Market-based control is founded on the conjecture that…
The concept of entropy in nonequilibrium macroscopic systems is investigated in the light of an extended equation of motion for the density matrix obtained in a previous study. It is found that a time-dependent information entropy can be…
We present a thermodynamic theory for a generic population of $M$ individuals distributed into $N$ groups (clusters). We construct the ensemble of all distributions with fixed $M$ and $N$, introduce a selection functional that embodies the…
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…
In a macroscopic (quantum or classical) Hamiltonian system, we prove the second law of thermodynamics in the forms of the minimum work principle and the law of entropy increase, under the assumption that the initial state is described by a…
Halfway between the experiment and the focus group, between the quiz and a game, we have experienced a new format to "focus" on sustainability and the fundamental laws of thermodynamics and its principles. Concepts as reversibility,…
We present some novel thermodynamic ideas based on the Maupertuis principle. By considering Hamiltonians written in terms of appropriate action-angle variables we show that thermal states can be characterized by the action variables and by…
A generalized entropy arising in the context of superstatistics is obtained for an ideal gas. The curvature scalar associated to the thermodynamic space generated by this modified entropy is calculated using two formalisms of the geometric…
We introduce a model for a periodically driven electron pump that sequentially interact with an arbitrary number of heat and particle reservoirs. Exact expressions for the thermodynamic fluxes, such as entropy production and particle flows…
Living systems maintain or increase local order by working against the Second Law of Thermodynamics. Thermodynamic consistency is restored as they dissipate heat, thereby increasing the net entropy of their environment. Recently introduced…
In this work, a composite economic model predictive control (CEMPC) is proposed for the optimal operation of a stand-alone integrated energy system (IES). Time-scale multiplicity exists in IESs dynamics is taken into account and addressed…
Microcanonical Thermodynamics allows the application of Statistical Mechanics on one hand to closed finite and even small systems and on the other to the largest,self-gravitating ones. However, one has to reconsider the fundamental…
Entropy production (EP) is a key quantity in thermodynamics, and yet measuring EP has remained a challenging task. Here we introduce an EP estimator, called multidimensional entropic bound (MEB), utilizing an ensemble of trajectories…
The statistical mechanical description of small systems staying in thermal equilibrium with an environment can be achieved by means of the Hamiltonian of mean force. In contrast to the reduced density matrix of an open quantum system, or…