Fluctuation theorems and expected utility hypothesis
Fuente:
arXiv
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| Autores principales: | , |
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| Formato: | Preprint |
| Publicado: |
2023
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| Acceso en línea: | |
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| _version_ | 1866914642473779200 |
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| author | Francica, Gianluca Dell'Anna, Luca |
| author_facet | Francica, Gianluca Dell'Anna, Luca |
| contents | The expected utility hypothesis is a popular concept in economics that is useful for making decisions when the payoff is uncertain. In this paper, we investigate the implications of a fluctuation theorem in the theory of expected utility. In particular, we wonder whether entropy could serve as a guideline for gambling. We prove the existence of a bound involving the certainty equivalent which depends on the entropy produced. Then, we examine the dependence of the certainty equivalent on the entropy by looking at specific situations, in particular the work extraction from a nonequilibrium initial state. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2307_12358 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | Fluctuation theorems and expected utility hypothesis Francica, Gianluca Dell'Anna, Luca Statistical Mechanics Quantum Physics The expected utility hypothesis is a popular concept in economics that is useful for making decisions when the payoff is uncertain. In this paper, we investigate the implications of a fluctuation theorem in the theory of expected utility. In particular, we wonder whether entropy could serve as a guideline for gambling. We prove the existence of a bound involving the certainty equivalent which depends on the entropy produced. Then, we examine the dependence of the certainty equivalent on the entropy by looking at specific situations, in particular the work extraction from a nonequilibrium initial state. |
| title | Fluctuation theorems and expected utility hypothesis |
| topic | Statistical Mechanics Quantum Physics |
| url | https://arxiv.org/abs/2307.12358 |