Utility maximizing entropy and the second law of thermodynamics. (Q1879820)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Utility maximizing entropy and the second law of thermodynamics. |
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Utility maximizing entropy and the second law of thermodynamics. (English)
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15 September 2004
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In the context of expected utility maximization problems, the authors prove that a necessary and sufficient condition for the second law of thermodynamics to hold is that the generalized entropy tends to its minimum value.
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entropy
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Markov operators
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utility maximization
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exactness
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H-theorem
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second law of thermodynamics
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