Abstract
Statistical mechanics models constitute a mathematical framework that is useful in describing the aggregate behaviour of interacting populations. While the methods originate in physics, they have proven useful in modelling socio-economic phenomena. This article describes the basic properties of statistical mechanics models and discusses their use in theoretical and empirical economics.
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Durlauf, S.N. (2018). Statistical Mechanics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2640
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2640
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