In den letzten drei Jahrhunderten ist die Wirtschaft in vielen Ländern - langfristig gesehen - dauernd gewachsen. Materieller Mangel ist in den entwickelten Ländern weitgehend verschwunden. Für die Erkenntnis der Leistungsfähigkeit der Marktwirtschaft wie der Defizite der sozialistischen...

Interest in thermodynamic analogies in economics is older than the idea of von Neumann to look for market entropy in liquidity, advice that was not taken in any thermodynamic analogy presented so far in the literature. In this paper we go further and use a standard strategy from trading theory...

This paper develops further monetary aspects of a model, first set out as part of a paper by the author published in 2007, concerning the application of thermodynamic principles to economics. The model is backed up by statistical analysis of quarterly data of the UK and USA economies. The model...

Two applications of the concept of statistical equilibrium, taken from statistical mechanics, are compared: a simple model of a pure exchange economy, constructed as an alternative to a walrasian exchange equilibrium, and a simple model of an industry, in which statistical equilibrium is used as...

Gyula Farkas (1847-1931) became a well-known scientist in his age due to his thermodynamic achievements, but today - after rediscovering his articles in 1950 - he is also noted as one of the founders of operation research. On the occasion of the 150th anniversary of his birth, his name became...

An interest for the low-energy range of the nonextensive distribution function arises from the study of radiative recombination in electron cooling devices in particle accelerators, whose experimentally measured reaction rates are much above the theoretical prediction. The use of generalized...

Using a q-analog of Boltzmann's combinatorial basis of entropy, the non-asymptotic non-degenerate and degenerate combinatorial forms of the Tsallis entropy function are derived. The new measures – supersets of the Tsallis entropy and the non-asymptotic variant of the Shannon entropy – are...