Representing Markets Using The Boltzmann Distribution
Date
2016-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of Delaware
Abstract
The applicability of using the Boltzmann distribution for modeling economic
markets is reviewed. While remaining accessible to business students and professionals,
this review provides a clear, yet rigorous account of using a Boltzmann-inspired
statistical formulation of market behavior. The formulation's
flexibility for modeling
market behavior in two types of markets is shown and the distribution's use for
practical analysis encouraged. Suggestions for future study are also given.
Description
Keywords
markets, physics, boltzmann distribution, economics