Economics has seen a recent rise in interest in information theory as an alternative
framework to the conventional notion of equilibrium as a fixed state, such as Walrasian …

Conditional on education and experience, the distribution of personal labor income appears
to be double Pareto, a distribution that obeys the power law in both the upper and lower …

In numerically implementing the optimization of an expected value in many economic
models, it is often necessary to approximate a given continuous probability distribution by a …

Once controlled for the trend, the distribution of personal income appears to be double
Pareto, a distribution that obeys the power law exactly in both the upper and the lower tails. I …

This paper studies the pattern of technical change at the firm level by applying and
extending the Quantal Response Statistical Equilibrium model (QRSE). The model assumes …

Based on the theory of stochastic chemical kinetics, the inherent randomness of biochemical
reaction networks can be described by discrete-state continuous-time Markov chains …

This paper shows that signal restoration methodology is appropriate for predicting the
equilibrium state of certain economic systems. A formal justification for this is provided by …

We develop an information-theoretic framework for economic modeling. This framework is
based on principles of entropic inference that are designed for reasoning on the basis of …

The maximum entropy principle is a powerful tool for solving underdetermined inverse
problems. This paper considers the problem of discretizing a continuous distribution, which …

The paper develops an information‐theoretic model of induced technical change where
payoff‐maximizing agents are exposed to a positive degree of uncertainty when adopting …