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 Lotka-Volterra 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 |
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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.uni-muenchen.de/id/eprint/31139 |