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Is it Possible to Describe Economical Phenomena by Methods of Statistical Physics of Open Systems?

2000/05/05 by L. Ya. Kobelev, Kobelev, L. Ya., O. L. Kobeleva +3
Economics, Econometrics and Finance · Physics and Astronomy · #Complex Systems and Time Series Analysis #FOS: Physical sciences #General Physics (physics.gen-ph) #Theoretical and Computational Physics #physics.gen-ph

paper · pdf · doi:10.48550/arxiv.physics/0005010

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arxiv created 2000/05/05 · openalex publication_date 2000/05/05 · arxiv updated 2009/12/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28

Abstract

The methods of statistical physics of open systems are used for describing the time dependence of economic characteristics (income, profit, cost, supply, currency etc.) and their correlations with each other. Nonlinear equations (analogies of known reaction-diffusion, kinetic, Langevin equation) describing appearance of bifurcations, self-sustained oscillational processes, self-organizations in economic phenomena are offered.

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