Entropy for a class of micro-economic models
Mathematical Physics
2025-10-03 v1 math.MP
Probability
Abstract
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 decrease. In this paper, a large class of agent-based models is proved to satisfy the axioms in the thermodynamic limit, and the entropy is shown to be the logarithm of the partition function for their stationary distributions.
Cite
@article{arxiv.2510.01737,
title = {Entropy for a class of micro-economic models},
author = {Robert S MacKay},
journal= {arXiv preprint arXiv:2510.01737},
year = {2025}
}