Towards equation of state for a market: A thermodynamical paradigm of economics

Burin Gumjudpai

doi:10.1088/1742-6596/1144/1/012181

Towards equation of state for a market: A thermodynamical paradigm of economics

Burin Gumjudpai

Naresuan University
Ministry of Education
National Institute of Development Administration

Research output: Contribution to journal › Conference article › peer-review

2 Citations (Scopus)

Abstract

Foundations of equilibrium thermodynamics are the equation of state (EoS) and four postulated laws of thermodynamics. We use equilibrium thermodynamics paradigms in constructing the EoS for microeconomics system that is a market. This speculation is hoped to be first step towards whole pictures of thermodynamical paradigm of economics.

Original language	English
Article number	012181
Journal	Journal of Physics: Conference Series
Volume	1144
Issue number	1
DOIs	https://doi.org/10.1088/1742-6596/1144/1/012181
Publication status	Published - 19 Dec 2018
Externally published	Yes
Event	Siam Physics Congress 2018: A Creative Path to Sustainable Innovation, SPC 2018 - Pitsanulok, Thailand Duration: 21 May 2018 → 23 May 2018

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10.1088/1742-6596/1144/1/012181

Cite this

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abstract = "Foundations of equilibrium thermodynamics are the equation of state (EoS) and four postulated laws of thermodynamics. We use equilibrium thermodynamics paradigms in constructing the EoS for microeconomics system that is a market. This speculation is hoped to be first step towards whole pictures of thermodynamical paradigm of economics.",

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AB - Foundations of equilibrium thermodynamics are the equation of state (EoS) and four postulated laws of thermodynamics. We use equilibrium thermodynamics paradigms in constructing the EoS for microeconomics system that is a market. This speculation is hoped to be first step towards whole pictures of thermodynamical paradigm of economics.

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U2 - 10.1088/1742-6596/1144/1/012181

DO - 10.1088/1742-6596/1144/1/012181

M3 - Conference article

AN - SCOPUS:85059469363

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Y2 - 21 May 2018 through 23 May 2018

ER -

Towards equation of state for a market: A thermodynamical paradigm of economics

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