| CROSS-DISCIPLINARY PHYSICS AND RELATED AREAS OF SCIENCE AND TECHNOLOGY |
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Statistical Physics of Economic Systems: a Survey for Open Economies |
| TAO Yong*,CHEN Xun |
| School of Economics and Business Administration, Chongqing University, Chongqing 400044 |
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| Cite this article: |
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TAO Yong, CHEN Xun 2012 Chin. Phys. Lett. 29 058901 |
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Abstract We extend the theoretical framework of an independent economy developed by Tao [Phys. Rev. E 82 (2010) 036118] so as to include multiple economies. Since the starting point of our framework is on the basis of the theory of the competitive markets of traditional economics, this framework shall be suitable for any free market. Our study shows that integration of world economies can decrease trade friction among economic systems, but may also cause a global economic crisis whenever economy disequilibrium occurs in any one of these economic systems.
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Received: 06 January 2012
Published: 30 April 2012
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| PACS: |
89.65.-s
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(Social and economic systems)
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05.30.-d
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(Quantum statistical mechanics)
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03.75.Nt
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(Other Bose-Einstein condensation phenomena)
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