This book presents principles of physical economics, new economic discipline primarily concerned in the book with the agent-based physical modeling of the market economic systems and eventually with the elaborating of probabilistic economic theory. At the heart of physical economics and...

This paper studies simultaneous equations models for two or more discrete outcomes. These models may be incoherent, delivering no values of the outcomes at certain values of the latent variables and covariates, and they may be incomplete, delivering more than one value of the outcomes at certain...