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Rethinking Economic Measurement Using Statistical Ensembles.

¹Signal Power and Light, Inc., Cordova, AL 35550, USA.

Entropy (Basel, Switzerland)

|March 28, 2025

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Quantum game theory resolves economic paradoxes using statistical ensembles. This new statistical economics framework accurately predicts economic behavior and analyzes equality concepts.

Area of Science:

Economics
Quantum Game Theory
Statistical Mechanics

Background:

The expected utility hypothesis, a cornerstone of economic decision-making, faces persistent foundational challenges.
The Allais paradox has historically hindered the investigation of human choice heuristics in economics.

Purpose of the Study:

To introduce a novel framework, statistical economics, by leveraging quantum game theory.
To resolve foundational issues in economic theory and explore new economic tools.

Main Methods:

Application of statistical ensembles from quantum game theory to economic problems.
Analysis of choice under uncertainty, economic prediction using income distribution and exergy input, and formalization of equality concepts.

Main Results:

Keywords:

Allais paradox entropy expected utility income distribution income inequality production function utility

Related Experiment Videos

The Allais paradox is resolved, revealing underlying choice heuristics.
A strong link between canonical ensembles and neoclassical economics is established.
A predictive model for economic behavior, using income distribution and exergy input, demonstrates high accuracy over 24 years of US data.
Equality of outcome is modeled as a Bose-Einstein condensate, showing its potential to reduce economic activity.

Conclusions:

Quantum game theory provides a robust platform for a new field: statistical economics.
Statistical economics offers powerful tools for understanding economic phenomena, from individual choice to societal structures.
The framework accurately predicts economic behavior and provides novel insights into concepts of economic equality.