Statistical Mechanics Approaches to Socioeconomic Behavior

37 Pages Posted: 1 Jul 2000 Last revised: 24 Jul 2010

See all articles by Steven N. Durlauf

Steven N. Durlauf

University of Chicago; National Bureau of Economic Research (NBER)

Date Written: September 1996

Abstract

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.

Suggested Citation

Durlauf, Steven N., Statistical Mechanics Approaches to Socioeconomic Behavior (September 1996). NBER Working Paper No. t0203. Available at SSRN: https://ssrn.com/abstract=226626

Steven N. Durlauf (Contact Author)

University of Chicago ( email )

1155 East 60th Street
Chicago, IL 60637
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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