In this paper, starting from Jaynes' MaxEnt methodology [10, 11], we follow the original idea of Aoki [1] to implement a canonical MaxEnt inference model for the replication of industrial firms' dynamics over a space of economic states. We develop an aggregate model to infer the distributions of...

Understanding the distribution of income and wealth in an economy has been a classic problem in economics for the last hundred years. Apart from the rapidly decaying number density of people with their income crossing over to a robust power law for the very rich, known as the Pareto power-law,...

This paper presents different recursive formulas for computing the marginals and the normalizing constant of a Gibbs distribution <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$\pi $$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mi mathvariant="italic">π</mi> </math> </EquationSource> </InlineEquation>. The common thread is the use of the underlying Markov properties of such processes. The procedures are illustrated with several examples,...</equationsource></equationsource></inlineequation>

What are the face-probabilities of a cuboidal die, i.e. a die with different side-lengths? This paper introduces a model for these probabilities based on a Gibbs distribution. Experimental data produced in this work and drawn from the literature support the Gibbs model. The experiments also...

In this paper, we adopt an agent-based approach to model collective market dynamics when interactions between the agents in a market are significant. Our model has two special features. First, social groups are formed in a random cluster process which, we believe, mimics the actual formation of...