From: Philip Dunn (pscumnud@DIRCON.CO.UK)
Date: Fri Jun 25 2004 - 06:54:01 EDT
Quoting Paul C <clyder@GN.APC.ORG>: > Philip Dunn wrote: > > >Quoting clyder@GN.APC.ORG: > > > > > > > >>Has anyone else here read Duncan Foley's work on statistical > >>mechanics and neo-classical economics? > >> > >>---------------------------------------------------------------- > >>This message was sent using IMP, the Internet Messaging Program. > >> > >> > >> > > > >Hi Paul > > > >Not the statistical mechanics, only: > > > >Classical thermodynamics and economic general equilibrium theory (with Eric > >Smith) > > > > > >Philip Dunn > > > > > > > > > I realise that I was wrong to say statistical mechanics. It is very > much classical thermodynamics whereas my familiarity is more > with the statistical mechanics or Shannon concepts of entropy. > > I thus find Duncans identification of entropy with utility of a single > agent very > strange since to me the idea of entropy has to be based on > summing over large ensembles. > My first thought would also have been 'agent=atom in a gas' but DF takes each agent as a thermodynamic system. I don't think statistical mechanics is behind this. I was impressed by the way that the GE initial endowments and trading to equilibrium were dropped in favour of reversible near-equilibrium trading (keeping the refrigator stocked). Rather like Marxian reproduction, in fact. Philip Dunn
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