相关论文: Thermodynamics Formulation of Economics
We propose concept of equation of state (EoS) effect structure in form of diagrams and rules. This concept helps justifying EoS status of an empirical relation. We apply the concept to closed system of consumers and we are able to formulate…
Foundations of equilibrium thermodynamics are the equation of state (EoS) and four postulated laws of thermodynamics. We use equilibrium thermodynamics paradigms in constructing the EoS for microeconomics system that is a market. This…
This work critics on nature of thermodynamics coordinates and on roles of the variables in the equation of state (EoS). Coordinate variables in the EoS are analyzed so that central concepts are noticed and are used to lay a foundation in…
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…
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…
Equation of state (EOS) describes the thermodynamic properties of substances. It has important applications in many fields such as power mechanics, geophysics, astrophysics, and detonation physics. Currently, most EOSs have been constructed…
The application of principles of thermodynamics and statistical mechanics to economic systems is considered in a broad historical perspective, extending from prehistoric times to the present day. The hypothesis of maximum entropy production…
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…
We present a systematic approach to construct complete equations of state (EOSs), or to ensure thermodynamic consistency of complete and incomplete forms of EOSs using a minimal and sufficient set of relations. We apply the proposed…
Economic engineering is a new field wherein economic systems are modelled in the same manner as traditional mechanical and electrical engineering systems. In this paper, we use Newton's theory of motion as the basis for the theory of…
Transitions between different states of matter and their thermodynamic properties are described by the Equation of State (EoS). A universal representation of the EoS of Quantum Chromodynamics (QCD) for the wide range of phase diagram has…
An axiomatic approach to macroeconomics based on the mathematical structure of thermodynamics is presented. It deduces relations between aggregate properties of an economy, concerning quantities and flows of goods and money, prices and the…
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…
The pivotal point of the paper is to discuss the behavior of temperature, pressure, energy density as a function of volume along with determination of caloric EoS from following two model: $w(z)=w_{0}+w_{1}\ln(1+z)$ & $…
An heuristic model of the society, as an assembly of weakly interacting individuals, is discussed. The model allows to connect macroscopic phenomena with features of relations between individuals. Addressing to the problem of inequality, a…
Boyle's 1662 observation that the volume of a gas is, at constant temperature, inversely proportional to pressure, offered a prototypical example of how an equation of state (EoS) can succinctly capture key properties of a many-particle…
In economics, construction of perfect models in a way that would be comparable to the standards customary in physical sciences is generally not feasible. In particular, the observed value for an economic equilibrium may deviate…
In the last years new interdisciplinary approaches to economics and social science have been developed. A Thermodynamic approach to socio-economics has brought to a new interdisciplinary scientific field called econophysics. Why…
Trailing the modern ideas of sociophysics, a minimalistic thermodynamic model of society is proposed, which consists of three social ingredients: people, economy, and entropy. Employing the universal van der Waals equation of state, many…
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…