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| Main Author: | |
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| Format: | Preprint |
| Published: |
2025
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2510.01737 |
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| _version_ | 1866915530706780160 |
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| author | MacKay, Robert S |
| author_facet | MacKay, Robert S |
| contents | Chater and MacKay [CM] derived an entropy function of state for exchange economies satisfying a list of axioms, and showed that a change of state of a system of such economies is possible if and only if their total entropy does not decrease. In this paper, a large class of agent-based models is proved to satisfy the axioms in the thermodynamic limit, and the entropy is shown to be the logarithm of the partition function for their stationary distributions. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2510_01737 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Entropy for a class of micro-economic models MacKay, Robert S Mathematical Physics Probability Chater and MacKay [CM] derived an entropy function of state for exchange economies satisfying a list of axioms, and showed that a change of state of a system of such economies is possible if and only if their total entropy does not decrease. In this paper, a large class of agent-based models is proved to satisfy the axioms in the thermodynamic limit, and the entropy is shown to be the logarithm of the partition function for their stationary distributions. |
| title | Entropy for a class of micro-economic models |
| topic | Mathematical Physics Probability |
| url | https://arxiv.org/abs/2510.01737 |