Quantal Response Statistical Equilibrium: A New Class of Maximum Entropy Distributions

2021 ◽  
Author(s):  
Ellis Scharfenaker
Keyword(s):  
Maximum Entropy ◽  
Statistical Equilibrium ◽  
Quantal Response ◽  
New Class ◽  
Maximum Entropy Distributions

scholarly journals Dynamics of the US Housing Market: A Quantal Response Statistical Equilibrium Approach

Entropy ◽  
2018 ◽  
Vol 20 (11) ◽  
pp. 831 ◽  
Author(s):  
Özlem Ömer
Keyword(s):  
Housing Market ◽  
Maximum Entropy ◽  
Price Index ◽  
Housing Price ◽  
Statistical Equilibrium ◽  
Market Dynamics ◽  
Quantal Response ◽  
Housing Price Index ◽  
The Us ◽  
Equilibrium Approach

In this article, we demonstrate that a quantal response statistical equilibrium approach to the US housing market with the help of the maximum entropy method of modeling is a powerful way of revealing different characteristics of the housing market behavior before, during and after the recent housing market crash in the US. In this line, a maximum entropy approach to quantal response statistical equilibrium model (QRSE) is employed in order to model housing market dynamics in different phases of the most recent housing market cycle using the S&P Case Shiller housing price index for 20 largest- Metropolitan Regions, and Freddie Mac housing price index (FMHPI) for 367 Metropolitan Cities for the US between 2000 and 2015. Estimated model parameters provide an alternative way to understand and explain the behaviors of economic agents, and market dynamics by questioning the traditional economic theory, which takes assumption for the behavior of rational utility maximizing representative agent with self-fulfilled expectations as given.

scholarly journals On maximum-entropy and related principles in statistical equilibrium

1990 ◽  
Vol 13 (2) ◽  
pp. 357-361
Author(s):  
C. G. Chakrabarti ◽  
V. Mukhopadhyay
Keyword(s):  
Maximum Entropy ◽  
Closed System ◽  
Thermal Equilibrium ◽  
Statistical Equilibrium ◽  
Statistical Characterization

The paper aims to study the importance and equivalence of the principles of maximum-entropy, and sufficient and stable inferences in the statistical characterization of the thermal equilibrium of a closed system.

Sign in / Sign up

Export Citation Format

Share Document