Gibbs himself referred to this type of statistical ensemble as being in " statistical equilibrium ".
2.
The market does not'self-organize'into a stable statistical equilibrium, rather, markets are unstable.
3.
These systems can be described by statistical ensembles that depend on a few observable parameters, and which are in statistical equilibrium.
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These ensembles are known as " equilibrium ensembles " and their condition is known as " statistical equilibrium ".
5.
Whereas statistical mechanics proper involves dynamics, here the attention is focussed on " statistical equilibrium " ( steady state ).
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Statistical equilibrium does not mean that the particles have stopped moving ( mechanical equilibrium ), rather, only that the ensemble is not evolving.
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Such a statistical ensemble, one that does not change over time, is called " stationary " and can said to be in " statistical equilibrium ".
8.
Statistical equilibrium occurs if, for each state in the ensemble, the ensemble also contains all of its future and past states with probabilities equal to the probability of being in that state.
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According to Glansdorff and Prigogine ( 1971, page 15 ), in general, these principles apply only to systems that can be described by thermodynamical variables, in which dissipative processes dominate by excluding large deviations from statistical equilibrium.
10.
A "'thermodynamic ensemble "'is a specific variety of statistical ensemble that, among other properties, is in statistical equilibrium ( defined below ), and is used to derive the properties of thermodynamic systems from the laws of classical or quantum mechanics.
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