Willis, Geoff (2011): Wealth, income, earnings and the statistical mechanics of flow systems.

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Abstract
This paper looks at empirical data from economics regarding wealth, earnings and income, alongside a flow model for an economy based on the general LotkaVolterra models of Levy & Solomon. The data and modelling suggest that a simple economic system might provide a tractable model for giving an exact statistical mechanical solution for an 'out of equilibrium' flow model. This might also include an exact mathematical definition of a 'dissipative structure' derived from maximum entropy considerations. This paper is primarily a qualitative discussion of how such a mathematical proof might be achieved.
Item Type:  MPRA Paper 

Original Title:  Wealth, income, earnings and the statistical mechanics of flow systems 
Language:  English 
Keywords:  wealth; earnings; income; entropy; lotka; volterra; dissipative 
Subjects:  D  Microeconomics > D3  Distribution > D31  Personal Income, Wealth, and Their Distributions D  Microeconomics > D5  General Equilibrium and Disequilibrium 
Item ID:  31139 
Depositing User:  Geoff Willis 
Date Deposited:  26 May 2011 19:00 
Last Modified:  27 Sep 2019 03:50 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/31139 