Binary alloys as a model for the multicultural society

The equivalence of neo-Darwinism and Walrasian equilibrium: in defense of Organismus economicus

“…Alchian's approach is neo-Darwinist, which we discussed at length. Becker's approach in the 1962 essay is thermodynamic equilibrium which is practiced by growing number of ecophysicists who study the economy (e.g., Mimkes 1995Mimkes , 2000. Nonetheless, both approaches show that market equilibrium is possible without the assumption of rationality.…”

An Ising Spin‐Based Model to Explore Efficient Flexibility in Distributed Power Systems

“…Finally, the temperature can represent customers' uncertainty about the effectiveness of the flexibility program that can impact on the reliability and security of the system. We can also associate with noise in customers' information channels; too much noise destroys the spontaneous magnetisation (max/min flexibility previously achieved) [15]. Also, when the "social temperature" [28] is high it destroys large domains (subpopulations) and hence it favours the mixing of options.…”

“…For low values the constraints are more stiff and the feasible space becomes fragmented. In the limit = 0 (maximum homogeneity of load split) we find that for combinations of {5, 6,10,13,14,15,22,23,24,25,26,27,28,29,30, 31} aggregators there are no optimal solutions (black dots). The reason for this is that for = 0 and, say, = 5, we are forcing to evenly distribute 32 buses among 5 aggregators so that at least one bus belongs to one aggregator.…”

“…This model has been shown to roughly correspond to an Ising model at = 0 [14]. In this regard, the temperature has been understood as a proxy of tolerance in binary thermodynamic societies; solubility corresponds to integration (i.e., mixing) and the miscibility gap to segregation [15]. Ising inspired systems have also been applied to financial markets to explain expectation bubbles and economic crashes [16].…”

A Thermodynamic Formulation of Economics

“…A thermodynamic approach to socio-economics has been favored by D. K. Foley (1994) [4], J. Mimkes (1995) [10] and Drȃgulescu and V. M. Yakovenko (2001) [3]. Financial markets have been discussed by M. Levy et al (2000) [8], S. Solomon and Richmond (2001) [14], Y.…”