Tuesday, May 16, 2017

Explore more about information equilibrium

Originally formulated by physicists Peter Fielitz and Guenter Borchardt for natural complex systems, information equilibrium [arXiv:physics.gen-ph] is a potentially useful framework for understanding many economic phenomena. Here are some additional resources:


A tour of information equilibrium
Slide presentation (51 slides)


Dynamic equilibrium and information equilibrium
Slide presentation (19 slides)


Maximum entropy and information theory approaches to economics
Slide presentation (27 slides)


Information equilibrium as an economic principle
Pre-print/working paper (44 pages)
[arXiv:q-fin.EC], [SSRN], [EconPapers:RePEc]

...

Update 27 July 2017


Macro ensembles and information equilibrium
Simple macroeconomics: AD-AS, IS-LM
Slide presentation (29 slides)

2 comments:

  1. 4 hours and my head hurts, indicating my math isn't up to a detailed critique - but it looks interesting.
    Nothing I could fault, but I can't be confident something isn't hiding in the assumptions.
    Someone with better skills in this domain required.

    ReplyDelete
    Replies
    1. All of the assumptions are laid out in pretty explicit mathematical detail in section II of this paper:

      https://arxiv.org/abs/0905.0610

      Delete

Comments are welcome. Please see the Moderation and comment policy.

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.