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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…

综合物理 · 物理学 2021-08-18 Sergey Rashkovskiy

We consider the thermodynamic approach to the description of economic systems and processes. The first and second laws of thermodynamics as applied to economic systems are derived and analyzed. It is shown that there is a deep analogy…

综合金融 · 定量金融 2021-02-03 Sergey Rashkovskiy

We formulate thermodynamics of economic systems in terms of an arbitrary probability distribution for a conserved economic quantity. As in statistical physics, thermodynamic macroeconomic variables emerge as the mean value of microeconomic…

统计金融 · 定量金融 2011-05-26 H. Quevedo , M. N. Quevedo

For common people, in contrast to brokers, bankers, and those who play on rising and falling prices of stocks, the stock market law is based on the simple fact that the depositors aim for financial profit at any given concrete stage. The…

概率论 · 数学 2008-12-02 V. P. Maslov

(abridged) In this paper, we present the issues we consider as essential as far as the statistical mechanics of finite systems is concerned. In particular, we emphasis our present understanding of phase transitions in the framework of…

统计力学 · 物理学 2012-02-20 P. Chomaz , F. Gulminelli

Growing economic inequalities are observed in several countries throughout the world. Following Pareto, the power-law structure of these inequalities has been the subject of much theoretical and empirical work. But their nonequilibrium…

物理与社会 · 物理学 2016-05-30 Matteo Smerlak

In this paper we present an econophysic model for the description of shares transactions in a capital market. For introducing the fundamentals of this model we used an analogy between the electrical field produced by a system of charges and…

综合金融 · 定量金融 2011-01-26 Ion Spanulescu , Ion Popescu , Victor Stoica , Anca Gheorghiu , Victor Velter

Thermodynamic conventions suffer from describing dynamical distinctions, especially when the structural and energetic changes induced by localized rare events are insignificant. By using the ensemble theory in the trajectory space, we…

统计力学 · 物理学 2023-03-30 Qi-Jun Ye , Xin-Zheng Li

Showing that the location of the zeros of the partition function can be used to study phase transitions, Yang and Lee initiated an ambitious and very fruitful approach. We give an overview of the results obtained using this approach. After…

统计力学 · 物理学 2009-11-11 Ioana Bena , Michel Droz , Adam Lipowski

We demonstrated the analogy between Economics and Gauge Theory of Plasticity and used it to describe the relationship between money supply and inflation at the economic market. The received equations of economical dynamics in phase space…

物理与社会 · 物理学 2024-05-29 A. V. Samokish , V. E. Egorushkin

We define a nonlinear thermodynamical formalism which translates into dynamical system theory the statistical mechanics of generalized mean-field models, extending investigation of the quadratic case by Leplaideur and Watbled. Under…

动力系统 · 数学 2021-11-16 Jérôme Buzzi , Benoît Kloeckner , Renaud Leplaideur

We consider how the Lee-Yang description of phase transitions in terms of partition function zeros applies to nonequilibrium systems. Here one does not have a partition function, instead we consider the zeros of a steady-state normalization…

统计力学 · 物理学 2009-11-07 R. A. Blythe , M. R. Evans

A new point of view about the deep origin of thermodynamic phase transitions is sketched. The main idea is to link the appearance of phase transitions to some major topology change of suitable submanifolds of phase space instead of linking…

统计力学 · 物理学 2017-08-23 Marco Pettini , Roberto Franzosi , Lionel Spinelli

The paper present one of attempts to apply the thermodynamics laws to economics. Introducing common thermodynamic parameters and considering world economics as a one macrosystem, authors demonstrate the possible consequences of entropy…

物理与社会 · 物理学 2008-07-03 A. M. Tishin , O. B. Baklitskaya

Recently, a morphological transition in the velocity distribution of a relativistic gas has been pointed out which shows hallmarks of a critical phenomenon. Here, we provide a general framework which allows for a thermodynamic approach to…

统计力学 · 物理学 2015-10-21 Afshin Montakhab , Leila Shahsavar , Malihe Ghodrat

Phase Transition is associated with a drastic change in some observable (ordered parameter) of the system when the controlled parameter is tuned smoothly. Lee-Yang theory of phase transition is discussed which is related to the accumulation…

统计力学 · 物理学 2022-05-10 Shoaib Akhtar

We investigate the relationship between ground-state (zero-temperature) quantum phase transitions in systems with variable Hamiltonian parameters and classical (temperature-driven) phase transitions in standard thermodynamics. An analogy is…

核理论 · 物理学 2009-11-11 Pavel Cejnar , Stefan Heinze , Jan Dobes

Scaling properties in financial fluctuations are reviewed from the standpoint of statistical physics. We firstly show theoretically that the balance of demand and supply enhances fluctuations due to the underlying phase transition…

统计力学 · 物理学 2008-12-10 H. Takayasu , M. Takayasu , M. P. Okazaki , K. Marumo , T. Shimizu

A thermodynamic phase transition denotes a drastic change of state of a physical system due to a continuous change of thermodynamic variables, as for instance pressure and temperature. The classical van der Waals equation of state is the…

数学物理 · 物理学 2015-06-16 Antonio Moro

We study a phase transition in a non-equilibrium model first introduced in [5], using the Yang-Lee description of equilibrium phase transitions in terms of both canonical and grand canonical partition function zeros. The model consists of…

统计力学 · 物理学 2007-05-23 Farhad H Jafarpour
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