Acta Physica Polonica B

Vol. 32, No. 2, February 2001, page 597

The Thermodynamics of Portfolios

E.W. Piotrowski, J. Sladkowski

We propose a new method of valuation of portfolios and their respective investing strategies. To this end we define a canonical ensemble of portfolios that allows to use the formalism of thermodynamics.

PACS numbers: 02.50.--r, 02.50.Le, 05.70.--a, 05.90.+m

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