A simple model is presented to illustrate the equilibrium thermostatistics of a nonentensive finite system. Interaction between the finite system and the reservoir is taken into account as a nonextensive term λH1H2 in the expression of total energy (H1 and H2 are the energy of the finite system...

Criteria are given that κ-deformed logarithmic and exponential functions should satisfy. With a pair of such functions one can associate another function, called the deduced logarithmic function. It is shown that generalized thermostatistics can be formulated in terms of κ-deformed exponential...

I entertain a generalization of the standard Bolzmann-Gibbs-Shannon measure of entropy in multiplier preferences of model uncertainty. Using this measure, I derive a generalized exponential certainty equivalent, which nests the exponential certainty equivalent of the standard Hansen-Sargent...

The volatility analysis of stock returns data is paramount in financial studies. We investigate the dynamics of volatility and randomness of the Pakistan Stock Exchange (PSX-100) and obtain insights into the behavior of investors during and before the coronavirus disease (COVID-19 pandemic). The...

Landsberg's notion of disorder, entropy normalized to maximum entropy, was originally proposed for the Shannon information-theoretic entropy to overcome extensivity-based deficiencies of entropy as a measure of disorder. We generalize Landsberg's concept to three classes of extended entropies:...

Generalized entropies are studied as Lyapunov functions for the master equation (Markov chains). Three basic properties of these Lyapunov functions are taken into consideration: universality (independence of the kinetic coefficients), trace-form (the form of sum over the states), and additivity...

A measure of redundancy inherent in the layouts of water distribution networks is developed using the Tsallis entropy. Both the local redundancy at a node and the global redundancy due to the redundancies at adjacent nodes are derived. The redundancy measure is applied to layouts reported in the...