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Thermodynamics of markets
Physica A: Statistical Mechanics and its Applications ( IF 2.8 ) Pub Date : 2020-12-24 , DOI: 10.1016/j.physa.2020.125699
S.A. 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 between the parameters of thermodynamic and economic systems (markets); in particular, each thermodynamic parameter can be associated with a certain economic parameter or indicator. The economic meaning of such primordial thermodynamic concepts as pressure, volume, internal energy, heat, etc. has been established. The thermostatistics of the market is considered. It is shown that, as in conventional thermostatistics, many market parameters, such as price of goods, quantity of goods, etc., as well as their fluctuations can be calculated formally using the partition function of an economic system.



中文翻译:

市场热力学

我们考虑用热力学方法来描述经济系统和过程。推导和分析了应用于经济系统的热力学第一定律和第二定律。结果表明,在热力学和经济系统(市场)的参数之间存在着深层次的类比。特别地,每个热力学参数可以与某个经济参数或指标相关联。已经建立了诸如压力,体积,内部能量,热量等原始热力学概念的经济意义。考虑市场的温度统计。结果表明,与传统的温度统计一样,可以使用经济系统的分区函数来正式计算许多市场参数,例如商品价格,商品数量等,以及它们的波动。

更新日期:2020-12-30
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