A nonequilibrium ensemble formalism: Criterion for truncation of description

2000 ◽  
Vol 112 (6) ◽  
pp. 2692-2700 ◽  
Author(s):  
J. Galvão Ramos ◽  
Áurea R. Vasconcellos ◽  
Roberto Luzzi
Keyword(s):  
2019 ◽  
Vol 49 (4) ◽  
pp. 494-501
Author(s):  
Jackelinne L. Vasconcelos ◽  
Clóves G. Rodrigues ◽  
Roberto Luzzi

Entropy ◽  
2021 ◽  
Vol 23 (2) ◽  
pp. 196
Author(s):  
Guillermo Chacón-Acosta ◽  
Vanessa Ángeles-Sánchez

In kinetic exchange models, agents make transactions based on well-established microscopic rules that give rise to macroscopic variables in analogy to statistical physics. These models have been applied to study processes such as income and wealth distribution, economic inequality sources, economic growth, etc., recovering well-known concepts in the economic literature. In this work, we apply ensemble formalism to a geometric agents model to study the effect of saving propensity in a system with money, credit, and debt. We calculate the partition function to obtain the total money of the system, with which we give an interpretation of the economic temperature in terms of the different payment methods available to the agents. We observe an interplay between the fraction of money that agents can save and their maximum debt. The system’s entropy increases as a function of the saved proportion, and increases even more when there is debt.


2001 ◽  
Vol 24 (3) ◽  
pp. 1-70
Author(s):  
Roberto Luzzi ◽  
ÁUrea R. Vasconcellos ◽  
J. GalvÃo Ramos

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