This study examines a new formulation of non-equilibrium thermodynamics, which gives a conditional derivation of the “maximum entropy production” (MEP) principle for flow and/or chemical reaction systems at steady state. The analysis uses a dimensionless potential function φst for non-equilibrium systems, analogous to the free energy concept of equilibrium thermodynamics. Spontaneous reductions...

Prediction markets which trade on contracts representing unknown future outcomes are designed specifically to aggregate expert predictions via the market price. While there are some existing machine learning interpretations for the market price and connections to Bayesian updating under the equilibrium analysis of such markets, there is less of an understanding of what the instantaneous price i...

The study of ion-exchange kinetics on soils and soil constituents has attracted much interest throughout the last decade. The introduction of a stirred-flow method to study these reactions, as well as other adsorption-desorption phenomena, has stimulated this interest. However, the manner in which rate data are interpreted using this technique and other flow methods has been questioned. Accordi...

We study the statistics of the work done, fluctuation relations, and irreversible entropy production in a quantum many-body system subject to the sudden quench of a control parameter. By treating the quench as a thermodynamic transformation we show that the emergence of irreversibility in the nonequilibrium dynamics of closed many-body quantum systems can be accurately characterized. We demonst...

Length frequency data of the longtail tuna, Thunnus tonggol collected from October 2006 to September 2007 were analyzed for evaluation of the stock parameters. T. tonggol is mainly caught by gillnet method. Yearly tuna and tuna-like catches in Iran are of the order of 174,234 mt, close to 46% of which are longtail tuna. The VBG parameters for longtail tuna were: L∞ =133.72cm K=0.35 year−1.The l...

In this paper we show that a Kelly trader is indifferent to trade derivative if and only the no-arbitrage price uniquely given by minimal martingale measure price, thus providing natural selection mechanism for option pricing in incomplete markets. We also unique indifference results market equilibrium sense no can improve magnitude of his instantaneous Sharpe ratio, trading derivative, actions...

This article is composed of two parts. The first part is aimed at providing an overview on the kinetic description of random nonlinear waves considering the one-dimensional nonlinear Schrödinger (NLS) equation as a representative model of optical wave propagation. We expose, in particular, the key problem of achieving a closure of the infinite hierarchy of moment equations for the random field....

Freedman and Xu [J. Math. Biol., 31 (1993), pp. 513–527] proposed two chemostattype competition models with nutrient recycling. In the first model the recycling is instantaneous, whereas in the second, the recycling is delayed. They carried out the equilibrium analysis and obtained persistence criteria for the models. In this paper, by applying the method of Liapunov functionals we study the gl...

We report laboratory experiments that use new, visually oriented software to explore the dynamics of 3 × 3 games with intransitive best responses. Each moment, each player is matched against the entire population, here 8 human subjects. A “heat map” offers instantaneous feedback on current profit opportunities. In the continuous slow adjustment treatment, we see distinct cycles in the populatio...

We study the DC current generation in a periodically driven Bloch system connected to heat bath. Under relaxation time approximation, density matrix for such is obtained, which related two equilibria: Floquet quasiequilibrium where diagonal under Floquet-Bloch eigenbasis and an instantaneous thermal equilibrium. Then, responses their power features, i.e., input behavior, are discussed unified m...