The transition to a low‐carbon economy will entail a large‐scale structural change. Some
industries will have to expand their relative economic weight, while other industries …

Economic systems produce robust statistical patterns in key sate variables including prices
and incomes. Statistical equilibrium methods explain the distributional properties of state …

This paper explores the foundations and properties of the quantal response statistical
equilibrium (QRSE) model developed by Scharfenaker and Foley (2017). The QRSE model …

Understanding inequality energy consumption at the global level delivers key insights for
strategies to mitigate climate change. Recent contributions [4, 28, 48, 49] have studied …

This paper establishes that entry and exit stabilize the top half of the profitability distribution
in the post‐1970 US economy. We, first, document stability in the distribution of total profits …

This paper is motivated by a distinctive appreciation of the difficulties posed by quantitative
observational inquiry into complex social and economic systems. It develops ordinary and …

This paper motivates the distinctive analytical usefulness of socio-combinatorial
characterizations of statistical equilibria in economic systems. It does so by drawing on …

This paper considers patterns of organization in distributions of the rate of return on capital
(RoC) realized by individual enterprises. It shows that large-sample cross sections of RoC …

The economy is an emerging and adapting complex system. The decisions agents make
affect the observed macroeconomic outcome, while the macroeconomic outcome leads …

Bayes' theorem incorporates distinct types of information through the likelihood and prior.
Direct observations of state variables enter the likelihood and modify posterior probabilities …