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Generalization of the Aoki–Yoshikawa sectoral productivity model based on extreme physical information principle

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  • Bednarek, Ilona
  • Makowski, Marcin
  • Piotrowski, Edward W.
  • Sładkowski, Jan
  • Syska, Jacek

Abstract

This paper presents a continuous variable generalization of the Aoki–Yoshikawa sectoral productivity model. Information theoretical methods from the Frieden–Soffer extreme physical information statistical estimation methodology were used to construct exact solutions. Both approaches coincide in first order approximation. The approach proposed here can be successfully applied in other fields of research.

Suggested Citation

  • Bednarek, Ilona & Makowski, Marcin & Piotrowski, Edward W. & Sładkowski, Jan & Syska, Jacek, 2015. "Generalization of the Aoki–Yoshikawa sectoral productivity model based on extreme physical information principle," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 428(C), pages 161-172.
    • Handle: RePEc:eee:phsmap:v:428:y:2015:i:c:p:161-172
    DOI: 10.1016/j.physa.2015.02.033
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    1. Piotrowski, Edward W. & Sładkowski, Jan & Syska, Jacek, 2010. "Subjective modelling of supply and demand—the minimum of Fisher information solution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(21), pages 4904-4912.
    2. Scalas, Enrico & Garibaldi, Ubaldo, 2009. "A Dynamic Probabilistic Version of the Aoki-Yoshikawa Sectoral Productivity Model," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-10.
    3. Edward W. Piotrowski & Jan Sladkowski, 2008. "A model of subjective supply-demand: the maximum Boltzmann/Shannon entropy solution," Papers 0811.2084, arXiv.org.
    4. Aoyama,Hideaki & Fujiwara,Yoshi & Ikeda,Yuichi & Iyetomi,Hiroshi & Souma,Wataru Preface by-Name:Yoshikawa,Hiroshi, 2010. "Econophysics and Companies," Cambridge Books, Cambridge University Press, number 9780521191494, November.
    5. Garibaldi,Ubaldo & Scalas,Enrico, 2010. "Finitary Probabilistic Methods in Econophysics," Cambridge Books, Cambridge University Press, number 9780521515597, November.
    6. Hideaki Aoyama & Hiroshi Yoshikawa & Hiroshi Iyetomi & Yoshi Fujiwara, 2010. "Productivity dispersion: facts, theory, and implications," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 5(1), pages 27-54, June.
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