The physical foundation of economics :: an analytical thermodynamic theory /
All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of ther...
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| Main Author: | |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
New Jersey :
World Scientific Pub.,
©2005.
|
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. It's aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences. |
| Physical Description: | 1 online resource (xiv, 132 pages) : illustrations |
| Bibliography: | Includes bibliographical references (pages 123-130) and index. |
| ISBN: | 9812703411 9789812703415 9789812563231 9812563237 1281372943 9781281372949 |
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| 245 | 1 | 4 | |a The physical foundation of economics : |b an analytical thermodynamic theory / |c Jing Chen. |
| 260 | |a New Jersey : |b World Scientific Pub., |c ©2005. | ||
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| 504 | |a Includes bibliographical references (pages 123-130) and index. | ||
| 505 | 0 | |a Cover -- Contents -- Preface -- 1. The Entropy Theory of Human Mind -- 1.1 Introduction -- 1.2 What is Information? -- 1.3 The Entropy Theory of Human Psychology -- 1. Conservatism -- 2. Herding behavior -- 3. Overconfidence and irrationality -- 4. Loss aversion in winning and risk seeking in losses -- 5. Framing, representativeness and biases -- 1.4 Concluding Remarks -- 2. The Entropy Theory of Value -- 2.1 Introduction -- 2.2 The Properties of the Entropy Theory of Value -- 1. Scarcity and value -- 2. Value and the number of producers -- 3. Substitutability and value -- 4. Market size, product life cycle and product value -- 2.3 Physical Entropy, Information and Economic Value -- 2.4 The Entropy Theory of Value and Information -- 2.5 Economic Wealth and Social Welfare -- 2.6 Concluding Remarks -- 3. Production and Competition: An Analytical Thermodynamic Theory -- 3.1 Some Historical Background -- 3.2 Basic Theory -- 3.3 A Comparison with Neoclassical Economic Theory -- 3.4 What is Next? -- 4. Natural Resources, Technology and Institutions: A Historical Perspective -- 4.1 Dynamics of Change in Human Civilization -- 4.2 General Patterns in Biological Evolution -- 4.3 Industrialization: Origin and its Sustainability -- 4.3.1. The origin of the Industrial Revolution -- 4.3.2. The future of our fossil fuel based civilization -- 4.4 Concluding Remarks -- 5. Migration, Trade, Education and Fertility: A Spatial Perspective -- 5.1 Migration and Trade -- 5.2 Education and Fertility -- 5.2.1. Theory of education and fertility -- 5.2.2. A comparison with the mainstream theory -- 5.3 Long Term Consequences of Migration Restriction -- 5.4 Concluding Remarks -- 6. From Modern Astronomy to Modern Finance: A New Theory of Finance -- 6.1 What Finance and Astronomy Have in Common? -- 6.2 From Modern Astronomy to Modern Finance: A Brief Review -- 6.3 A New Theory of Corporate Finance -- 6.4 A New Theory of Investment -- 6.5 Criteria for a Good Theory -- 6.6 Concluding Remarks -- Epilogue: Mathematics, Beauty and Reality -- Bibliography -- Index. | |
| 520 | |a All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. It's aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences. | ||
| 588 | 0 | |a Print version record. | |
| 650 | 0 | |a Thermodynamics |x Economic aspects. | |
| 650 | 0 | |a Economics |x Scientific applications. | |
| 650 | 6 | |a Thermodynamique |x Aspect économique. | |
| 650 | 6 | |a Économie politique |x Applications scientifiques. | |
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| 650 | 1 | 7 | |a Thermodynamica. |2 gtt |
| 776 | 0 | 8 | |i Print version: |a Chen, Jing, 1966- |t Physical foundation of economics. |d New Jersey : World Scientific Pub., ©2005 |w (DLC) 2005042417 |
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| contents | Cover -- Contents -- Preface -- 1. The Entropy Theory of Human Mind -- 1.1 Introduction -- 1.2 What is Information? -- 1.3 The Entropy Theory of Human Psychology -- 1. Conservatism -- 2. Herding behavior -- 3. Overconfidence and irrationality -- 4. Loss aversion in winning and risk seeking in losses -- 5. Framing, representativeness and biases -- 1.4 Concluding Remarks -- 2. The Entropy Theory of Value -- 2.1 Introduction -- 2.2 The Properties of the Entropy Theory of Value -- 1. Scarcity and value -- 2. Value and the number of producers -- 3. Substitutability and value -- 4. Market size, product life cycle and product value -- 2.3 Physical Entropy, Information and Economic Value -- 2.4 The Entropy Theory of Value and Information -- 2.5 Economic Wealth and Social Welfare -- 2.6 Concluding Remarks -- 3. Production and Competition: An Analytical Thermodynamic Theory -- 3.1 Some Historical Background -- 3.2 Basic Theory -- 3.3 A Comparison with Neoclassical Economic Theory -- 3.4 What is Next? -- 4. Natural Resources, Technology and Institutions: A Historical Perspective -- 4.1 Dynamics of Change in Human Civilization -- 4.2 General Patterns in Biological Evolution -- 4.3 Industrialization: Origin and its Sustainability -- 4.3.1. The origin of the Industrial Revolution -- 4.3.2. The future of our fossil fuel based civilization -- 4.4 Concluding Remarks -- 5. Migration, Trade, Education and Fertility: A Spatial Perspective -- 5.1 Migration and Trade -- 5.2 Education and Fertility -- 5.2.1. Theory of education and fertility -- 5.2.2. A comparison with the mainstream theory -- 5.3 Long Term Consequences of Migration Restriction -- 5.4 Concluding Remarks -- 6. From Modern Astronomy to Modern Finance: A New Theory of Finance -- 6.1 What Finance and Astronomy Have in Common? -- 6.2 From Modern Astronomy to Modern Finance: A Brief Review -- 6.3 A New Theory of Corporate Finance -- 6.4 A New Theory of Investment -- 6.5 Criteria for a Good Theory -- 6.6 Concluding Remarks -- Epilogue: Mathematics, Beauty and Reality -- Bibliography -- Index. |
| ctrlnum | (OCoLC)228171831 |
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| dewey-ones | 536 - Heat |
| dewey-raw | 536/.7 |
| dewey-search | 536/.7 |
| dewey-sort | 3536 17 |
| dewey-tens | 530 - Physics |
| discipline | Physik |
| format | Electronic eBook |
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"><subfield code="a">online resource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="347" ind1=" " ind2=" "><subfield code="a">data file</subfield></datafield><datafield tag="504" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references (pages 123-130) and index.</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">Cover -- Contents -- Preface -- 1. The Entropy Theory of Human Mind -- 1.1 Introduction -- 1.2 What is Information? -- 1.3 The Entropy Theory of Human Psychology -- 1. Conservatism -- 2. Herding behavior -- 3. Overconfidence and irrationality -- 4. Loss aversion in winning and risk seeking in losses -- 5. Framing, representativeness and biases -- 1.4 Concluding Remarks -- 2. The Entropy Theory of Value -- 2.1 Introduction -- 2.2 The Properties of the Entropy Theory of Value -- 1. Scarcity and value -- 2. Value and the number of producers -- 3. Substitutability and value -- 4. Market size, product life cycle and product value -- 2.3 Physical Entropy, Information and Economic Value -- 2.4 The Entropy Theory of Value and Information -- 2.5 Economic Wealth and Social Welfare -- 2.6 Concluding Remarks -- 3. Production and Competition: An Analytical Thermodynamic Theory -- 3.1 Some Historical Background -- 3.2 Basic Theory -- 3.3 A Comparison with Neoclassical Economic Theory -- 3.4 What is Next? -- 4. Natural Resources, Technology and Institutions: A Historical Perspective -- 4.1 Dynamics of Change in Human Civilization -- 4.2 General Patterns in Biological Evolution -- 4.3 Industrialization: Origin and its Sustainability -- 4.3.1. The origin of the Industrial Revolution -- 4.3.2. The future of our fossil fuel based civilization -- 4.4 Concluding Remarks -- 5. Migration, Trade, Education and Fertility: A Spatial Perspective -- 5.1 Migration and Trade -- 5.2 Education and Fertility -- 5.2.1. Theory of education and fertility -- 5.2.2. A comparison with the mainstream theory -- 5.3 Long Term Consequences of Migration Restriction -- 5.4 Concluding Remarks -- 6. From Modern Astronomy to Modern Finance: A New Theory of Finance -- 6.1 What Finance and Astronomy Have in Common? -- 6.2 From Modern Astronomy to Modern Finance: A Brief Review -- 6.3 A New Theory of Corporate Finance -- 6.4 A New Theory of Investment -- 6.5 Criteria for a Good Theory -- 6.6 Concluding Remarks -- Epilogue: Mathematics, Beauty and Reality -- Bibliography -- Index.</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. 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| id | ZDB-4-EBA-ocn228171831 |
| illustrated | Illustrated |
| indexdate | 2025-04-11T08:36:04Z |
| institution | BVB |
| isbn | 9812703411 9789812703415 9789812563231 9812563237 1281372943 9781281372949 |
| language | English |
| oclc_num | 228171831 |
| open_access_boolean | |
| owner | MAIN DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| physical | 1 online resource (xiv, 132 pages) : illustrations |
| psigel | ZDB-4-EBA FWS_PDA_EBA ZDB-4-EBA |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | World Scientific Pub., |
| record_format | marc |
| spelling | Chen, Jing, 1966- https://id.oclc.org/worldcat/entity/E39PCjKcmD8yFXRPMtHWx3B4G3 http://id.loc.gov/authorities/names/n2005057848 The physical foundation of economics : an analytical thermodynamic theory / Jing Chen. New Jersey : World Scientific Pub., ©2005. 1 online resource (xiv, 132 pages) : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier data file Includes bibliographical references (pages 123-130) and index. Cover -- Contents -- Preface -- 1. The Entropy Theory of Human Mind -- 1.1 Introduction -- 1.2 What is Information? -- 1.3 The Entropy Theory of Human Psychology -- 1. Conservatism -- 2. Herding behavior -- 3. Overconfidence and irrationality -- 4. Loss aversion in winning and risk seeking in losses -- 5. Framing, representativeness and biases -- 1.4 Concluding Remarks -- 2. The Entropy Theory of Value -- 2.1 Introduction -- 2.2 The Properties of the Entropy Theory of Value -- 1. Scarcity and value -- 2. Value and the number of producers -- 3. Substitutability and value -- 4. Market size, product life cycle and product value -- 2.3 Physical Entropy, Information and Economic Value -- 2.4 The Entropy Theory of Value and Information -- 2.5 Economic Wealth and Social Welfare -- 2.6 Concluding Remarks -- 3. Production and Competition: An Analytical Thermodynamic Theory -- 3.1 Some Historical Background -- 3.2 Basic Theory -- 3.3 A Comparison with Neoclassical Economic Theory -- 3.4 What is Next? -- 4. Natural Resources, Technology and Institutions: A Historical Perspective -- 4.1 Dynamics of Change in Human Civilization -- 4.2 General Patterns in Biological Evolution -- 4.3 Industrialization: Origin and its Sustainability -- 4.3.1. The origin of the Industrial Revolution -- 4.3.2. The future of our fossil fuel based civilization -- 4.4 Concluding Remarks -- 5. Migration, Trade, Education and Fertility: A Spatial Perspective -- 5.1 Migration and Trade -- 5.2 Education and Fertility -- 5.2.1. Theory of education and fertility -- 5.2.2. A comparison with the mainstream theory -- 5.3 Long Term Consequences of Migration Restriction -- 5.4 Concluding Remarks -- 6. From Modern Astronomy to Modern Finance: A New Theory of Finance -- 6.1 What Finance and Astronomy Have in Common? -- 6.2 From Modern Astronomy to Modern Finance: A Brief Review -- 6.3 A New Theory of Corporate Finance -- 6.4 A New Theory of Investment -- 6.5 Criteria for a Good Theory -- 6.6 Concluding Remarks -- Epilogue: Mathematics, Beauty and Reality -- Bibliography -- Index. All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. It's aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences. Print version record. Thermodynamics Economic aspects. Economics Scientific applications. Thermodynamique Aspect économique. Économie politique Applications scientifiques. SCIENCE Mechanics Thermodynamics. bisacsh Thermodynamics Economic aspects fast Statistische mechanica. gtt Economie. gtt Thermodynamica. gtt Print version: Chen, Jing, 1966- Physical foundation of economics. New Jersey : World Scientific Pub., ©2005 (DLC) 2005042417 |
| spellingShingle | Chen, Jing, 1966- The physical foundation of economics : an analytical thermodynamic theory / Cover -- Contents -- Preface -- 1. The Entropy Theory of Human Mind -- 1.1 Introduction -- 1.2 What is Information? -- 1.3 The Entropy Theory of Human Psychology -- 1. Conservatism -- 2. Herding behavior -- 3. Overconfidence and irrationality -- 4. Loss aversion in winning and risk seeking in losses -- 5. Framing, representativeness and biases -- 1.4 Concluding Remarks -- 2. The Entropy Theory of Value -- 2.1 Introduction -- 2.2 The Properties of the Entropy Theory of Value -- 1. Scarcity and value -- 2. Value and the number of producers -- 3. Substitutability and value -- 4. Market size, product life cycle and product value -- 2.3 Physical Entropy, Information and Economic Value -- 2.4 The Entropy Theory of Value and Information -- 2.5 Economic Wealth and Social Welfare -- 2.6 Concluding Remarks -- 3. Production and Competition: An Analytical Thermodynamic Theory -- 3.1 Some Historical Background -- 3.2 Basic Theory -- 3.3 A Comparison with Neoclassical Economic Theory -- 3.4 What is Next? -- 4. Natural Resources, Technology and Institutions: A Historical Perspective -- 4.1 Dynamics of Change in Human Civilization -- 4.2 General Patterns in Biological Evolution -- 4.3 Industrialization: Origin and its Sustainability -- 4.3.1. The origin of the Industrial Revolution -- 4.3.2. The future of our fossil fuel based civilization -- 4.4 Concluding Remarks -- 5. Migration, Trade, Education and Fertility: A Spatial Perspective -- 5.1 Migration and Trade -- 5.2 Education and Fertility -- 5.2.1. Theory of education and fertility -- 5.2.2. A comparison with the mainstream theory -- 5.3 Long Term Consequences of Migration Restriction -- 5.4 Concluding Remarks -- 6. From Modern Astronomy to Modern Finance: A New Theory of Finance -- 6.1 What Finance and Astronomy Have in Common? -- 6.2 From Modern Astronomy to Modern Finance: A Brief Review -- 6.3 A New Theory of Corporate Finance -- 6.4 A New Theory of Investment -- 6.5 Criteria for a Good Theory -- 6.6 Concluding Remarks -- Epilogue: Mathematics, Beauty and Reality -- Bibliography -- Index. Thermodynamics Economic aspects. Economics Scientific applications. Thermodynamique Aspect économique. Économie politique Applications scientifiques. SCIENCE Mechanics Thermodynamics. bisacsh Thermodynamics Economic aspects fast Statistische mechanica. gtt Economie. gtt Thermodynamica. gtt |
| title | The physical foundation of economics : an analytical thermodynamic theory / |
| title_auth | The physical foundation of economics : an analytical thermodynamic theory / |
| title_exact_search | The physical foundation of economics : an analytical thermodynamic theory / |
| title_full | The physical foundation of economics : an analytical thermodynamic theory / Jing Chen. |
| title_fullStr | The physical foundation of economics : an analytical thermodynamic theory / Jing Chen. |
| title_full_unstemmed | The physical foundation of economics : an analytical thermodynamic theory / Jing Chen. |
| title_short | The physical foundation of economics : |
| title_sort | physical foundation of economics an analytical thermodynamic theory |
| title_sub | an analytical thermodynamic theory / |
| topic | Thermodynamics Economic aspects. Economics Scientific applications. Thermodynamique Aspect économique. Économie politique Applications scientifiques. SCIENCE Mechanics Thermodynamics. bisacsh Thermodynamics Economic aspects fast Statistische mechanica. gtt Economie. gtt Thermodynamica. gtt |
| topic_facet | Thermodynamics Economic aspects. Economics Scientific applications. Thermodynamique Aspect économique. Économie politique Applications scientifiques. SCIENCE Mechanics Thermodynamics. Thermodynamics Economic aspects Statistische mechanica. Economie. Thermodynamica. |
| work_keys_str_mv | AT chenjing thephysicalfoundationofeconomicsananalyticalthermodynamictheory AT chenjing physicalfoundationofeconomicsananalyticalthermodynamictheory |