“…The first term in the above equation is referred to as the Boltzmann-Shannon-Gibbs (BSG) entropy, which has been applied in multiple fields, ranging from condensed matter physics [14] to finance [26,8]. Along with its path equivalent, maximum caliber [16], it has been successfully used to derive statistical mechanics [17], non-relativistic quantum mechanics, Newton's laws and Bayes' rule [16,9]. Under the axioms of consistency, uniqueness, invariance under coordinate transformations, sub-set and system independence, it can be proved that for constraints in the form of expected values, drawing self-consistent inferences requires maximising the entropy [33,29].…”