Thursday, July 30, 2015

Updated graphics for the entropic hot potato effect

Scott Sumner's hot potato effect is a prime example of an entropic force. I wrote about this in more detail a few months ago, but I thought I'd update the graphics with a nice gif instead of a youtube video (the red line shows the median of the distribution) and add an accompanying plot of the entropy getting a shock and returning to normal:


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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.