| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 9727822 | Physica A: Statistical Mechanics and its Applications | 2005 | 4 Pages |
Abstract
We consider dynamics of financial markets as dynamics of expectations and discuss such a dynamics from the point of view of phenomenological thermodynamics. We describe a financial Carnot cycle and the financial analog of a heat machine. We see, that while in physics a perpetuum mobile is absolutely impossible, in economics such mobile may exist under some conditions.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Mathematical Physics
Authors
Andrei Khrennikov,