Statistical Mechanics Approaches to Socioeconomic Behavior
37 Pages Posted: 1 Jul 2000 Last revised: 24 Jul 2010
Date Written: September 1996
This paper provides a unified framework for interpreting a wide range of interactions models which have appeared in the economics literature. A formalization taken from the statistical mechanics literature is shown to encompass a number of socioeconomic phenomena ranging from out of wedlock births to aggregate output to crime. The framework bears a close relationship to econometric models of discrete choice and therefore holds the potential for rendering interactions models estimable. A number of new applications of statistical mechanics to socioeconomic problems are suggested.
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