Econophysics

Econophysics
Author: Gheorghe Savoiu
Publisher: Academic Press
Total Pages: 180
Release: 2013
Genre: Business & Economics
ISBN: 0124046266

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The remarkable evolution of econophysics research has brought the deep synthesis of ideas derived from economics and physics to subjects as diverse as education, banking, finance, and the administration of large institutions. The original papers in this collection present a broad summary of these advances, written by interdisciplinary specialists. Included are studies on subjects in the development of econophysics; on the perspectives offered by econophysics on large problems in economics and finance, including the 2008-9 financial crisis; and on higher education and group decision making. The introductions and insights they provide will benefit everyone interested in applications of this new transdisciplinary science. Ten papers present an updated version of the origins, issues, and applications of econophysics Economics and finance chapters consider lessons learned from the 2008-9 financial crisis Sociophysics chapters propose new thinking on educational reforms and group decision making

The Application of Econophysics

The Application of Econophysics
Author: Hideki Takayasu
Publisher: Springer Science & Business Media
Total Pages: 352
Release: 2012-12-06
Genre: Science
ISBN: 4431539476

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Econophysics is a newborn field of science bridging economics and physics. A special feature of this new science is the data analysis of high-precision market data. In economics arbitrage opportunity is strictly denied; however, by observing high-precision data we can prove the existence of arbitrage opportunity. Also, financial technology neglects the possibility of market prediction; however, in this book you can find many examples of predicted events. There are other surprising findings. This volume is the proceedings of a workshop on "application of econophysics" at which leading international researchers discussed their most recent results.

Introduction to Econophysics

Introduction to Econophysics
Author: Rosario N. Mantegna
Publisher: Cambridge University Press
Total Pages: 164
Release: 1999-11-13
Genre: Business & Economics
ISBN: 1139431226

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This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.

Macro-Econophysics

Macro-Econophysics
Author: Hideaki Aoyama
Publisher: Cambridge University Press
Total Pages: 438
Release: 2017-07-04
Genre: Science
ISBN: 1108225802

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The concepts of statistical physics and big data play an important role in the evidence-based analysis and interpretation of macroeconomic principles. The techniques of complex networks, big data, and statistical physics are useful to understand theories of economic systems, and the authors have applied these to understand the intricacies of complex macroeconomic problems. Recent research work using tools and techniques of big data, statistical physics, complex networks, and statistical science is covered, and basic graph algorithms and statistical measures of complex networks are described. The application of big data and statistical physics tools to assess price dynamics, inflation, systemic risks, and productivity is discussed. Chapter-end summary and numerical problems are provided to reinforce understanding of concepts.

Econophysics and Sociophysics

Econophysics and Sociophysics
Author: Bikas K. Chakrabarti
Publisher: John Wiley & Sons
Total Pages: 648
Release: 2007-02-27
Genre: Science
ISBN: 352760958X

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Using tricks to handle coupled nonlinear dynamical many-body systems, several advancements have already been made in understanding the behavior of markets/economic/social systems and their dynamics. The book intends to provide the reader with updated reviews on such major developments in both econophysics and sociophysics, by leading experts in the respective fields. This is the first book providing a panoramic view of these developments in the last decade.

Econophysics

Econophysics
Author: Sitabhra Sinha
Publisher: John Wiley & Sons
Total Pages: 371
Release: 2010-12-06
Genre: Science
ISBN: 3527408150

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Filling the gap for an up-to-date textbook in this relatively new interdisciplinary research field, this volume provides readers with a thorough and comprehensive introduction. Based on extensive teaching experience, it includes numerous worked examples and highlights in special biographical boxes some of the most outstanding personalities and their contributions to both physics and economics. The whole is rounded off by several appendices containing important background material.

Econophysics and Physical Economics

Econophysics and Physical Economics
Author: Peter Richmond
Publisher: Oxford University Press, USA
Total Pages: 258
Release: 2013-09-05
Genre: Business & Economics
ISBN: 0199674701

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This book summarises progress in the understanding of financial markets and economics based on the established methodology of statistical physics. It offers a new approach to the fundamentals of economics that offers the potential for increased insight and understanding. It should be of interest to all serious students of the subject.

Econophysics and Sociophysics: Recent Progress and Future Directions

Econophysics and Sociophysics: Recent Progress and Future Directions
Author: Frédéric Abergel
Publisher: Springer
Total Pages: 254
Release: 2017-01-11
Genre: Science
ISBN: 3319477056

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This book presents the proceedings from ECONOPHYS-2015, an international workshop held in New Delhi, India, on the interrelated fields of “econophysics” and “sociophysics”, which have emerged from the application of statistical physics to economics and sociology. Leading researchers from varied communities, including economists, sociologists, financial analysts, mathematicians, physicists, statisticians, and others, report on their recent work, discuss topical issues, and review the relevant contemporary literature. A society can be described as a group of people who inhabit the same geographical or social territory and are mutually involved through their shared participation in different aspects of life. It is possible to observe and characterize average behaviors of members of a society, an example being voting behavior. Moreover, the dynamic nature of interaction within any economic sector comprising numerous cooperatively interacting agents has many features in common with the interacting systems of statistical physics. It is on these bases that interest has grown in the application within sociology and economics of the tools of statistical mechanics. This book will be of value for all with an interest in this flourishing field.

Traffic and Granular Flow ’99

Traffic and Granular Flow ’99
Author: D. Helbing
Publisher: Springer Science & Business Media
Total Pages: 532
Release: 2012-12-06
Genre: Mathematics
ISBN: 3642597513

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"Are there common phenomena and laws in the dynamic behavior of granular materials, traffic, and socio-economic systems?" The answers given at the international workshop "Traffic and Granular Flow '99" are presented in this volume. From a physical standpoint, all these systems can be treated as (self)-driven many-particle systems with strong fluctuations, showing multistability, phase transitions, non-linear waves, etc. The great interest in these systems is due to several unexpected new discoveries and their practical relevance for solving some fundamental problems of today's societies. This includes intelligent measures for traffic flow optimization and methods from "econophysics" for stabilizing (stock) markets.

Econophysics of Order-driven Markets

Econophysics of Order-driven Markets
Author: Frédéric Abergel
Publisher: Springer Science & Business Media
Total Pages: 316
Release: 2011-04-06
Genre: Business & Economics
ISBN: 8847017661

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The primary goal of the book is to present the ideas and research findings of active researchers from various communities (physicists, economists, mathematicians, financial engineers) working in the field of "Econophysics", who have undertaken the task of modelling and analyzing order-driven markets. Of primary interest in these studies are the mechanisms leading to the statistical regularities ("stylized facts") of price statistics. Results pertaining to other important issues such as market impact, the profitability of trading strategies, or mathematical models for microstructure effects, are also presented. Several leading researchers in these fields report on their recent work and also review the contemporary literature. Some historical perspectives, comments and debates on recent issues in Econophysics research are also included.