Regensburg 2002 – scientific programme
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AKSOE: Physik sozio-ökonomischer Systeme
AKSOE 16: Makro-ökonomische Modelle und Wirtschaftswachstum I
AKSOE 16.3: Talk
Wednesday, March 13, 2002, 15:00–15:30, H8
II. The model of regular solutions in economic systems: No-dqMixingNo-dq people and goods. — •Jürgen Mimkes 1, Thorsten Fründ1, and Geoff Willis2 — 1Fachbereich Physik Universität Paderborn — 2South Elmsall, West Yorkshire, UK
The model of regular solutions has been applied to economic systems. A market is a statistical mixture of goods, the entropy of mixing depends on the micro ec onomic conditions. The entropy has been calculated for different micro-economic systems and compared to economic data:
1. Income: Boltzmann income distribution in Germany and the US,
2. Property: Boltzmann property distribution in Germany,
3. Economy: the production function entropy vs. Cobb Douglas,
4. Trade: the exponential distribution of supply and demand,
5. Companies: the entropy of product variety,
6. Business: the entropy of personnel variety (A football team of 11 goalkeepers ?)
The Lagrange principle L= E + T S may be regarded as a fundamental equation of macro-economics. In economic cycles the entropy of mixing is a measure of the probability of success.