From Physics to Econophysics and Back: Methods and Insights PDF Download

Author: Siew Ann Cheong
Publisher: Frontiers Media SA
ISBN: 2889765199
Category : Science
Languages : en
Pages : 341

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Author: Gheorghe Savoiu
Publisher: Academic Press
ISBN: 0124046266
Category : Business & Economics
Languages : en
Pages : 180

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Book Description
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

Author: Luc T. Wille
Publisher: Springer Science & Business Media
ISBN: 3662089688
Category : Science
Languages : en
Pages : 369

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Book Description
This book provides a unique insight into the latest breakthroughs in a consistent manner, at a level accessible to undergraduates, yet with enough attention to the theory and computation to satisfy the professional researcher Statistical physics addresses the study and understanding of systems with many degrees of freedom. As such it has a rich and varied history, with applications to thermodynamics, magnetic phase transitions, and order/disorder transformations, to name just a few. However, the tools of statistical physics can be profitably used to investigate any system with a large number of components. Thus, recent years have seen these methods applied in many unexpected directions, three of which are the main focus of this volume. These applications have been remarkably successful and have enriched the financial, biological, and engineering literature. Although reported in the physics literature, the results tend to be scattered and the underlying unity of the field overlooked.

Author: Ji-Ping Huang
Publisher: Springer
ISBN: 3662442345
Category : Science
Languages : en
Pages : 192

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Book Description
Experimental Econophysics describes the method of controlled human experiments, which is developed by physicists to study some problems in economics or finance, namely, stylized facts, fluctuation phenomena, herd behavior, contrarian behavior, hedge behavior, cooperation, business cycles, partial information, risk management, and stock prediction. Experimental econophysics together with empirical econophysics are two branches of the field of econophysics. The latter one has been extensively discussed in the existing books, while the former one has been seldom touched. In this book, the author will focus on the branch of experimental econophysics. Empirical econophysics is based on the analysis of data in real markets by using some statistical tools borrowed from traditional statistical physics. Differently, inspired by the role of controlled experiments and system modelling (for computer simulations and/or analytical theory) in developing modern physics, experimental econophysics specially relies on controlled human experiments in the laboratory (producing data for analysis) together with agent-based modelling (for computer simulations and/or analytical theory), with an aim at revealing the general cause-effect relationship between specific parameters and emergent properties of real economic/financial markets. This book covers the basic concepts, experimental methods, modelling approaches, and latest progress in the field of experimental econophysics.

Author: Peter Richmond
Publisher: Oxford University Press
ISBN: 0199674701
Category : Business & Economics
Languages : en
Pages : 258

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Book Description
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.

Author: Ubaldo Garibaldi
Publisher: Cambridge University Press
ISBN: 1139490672
Category : Business & Economics
Languages : en
Pages : 343

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Book Description
Econophysics applies the methodology of physics to the study of economics. However, whilst physicists have good understanding of statistical physics, they may be unfamiliar with recent advances in statistical conjectures, including Bayesian and predictive methods. Equally, economists with knowledge of probabilities do not have a background in statistical physics and agent-based models. Proposing a unified view for a dynamic probabilistic approach, this book is useful for advanced undergraduate and graduate students as well as researchers in physics, economics and finance. The book takes a finitary approach to the subject, discussing the essentials of applied probability, and covering finite Markov chain theory and its applications to real systems. Each chapter ends with a summary, suggestions for further reading, and exercises with solutions at the end of the book.

Author: Bikas K. Chakrabarti
Publisher: John Wiley & Sons
ISBN: 9783527406708
Category : Business & Economics
Languages : en
Pages : 656

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Book Description
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.

Author: Arnab Chatterjee
Publisher: Springer Science & Business Media
ISBN: 8847006651
Category : Science
Languages : en
Pages : 266

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Book Description
Econophysics research studies, which apply methods developed by physicists to solve problems in economics, enable you to deepen your understanding of what financial systems are and how they operate. Articles in this book identify and explain the statistical behavior of the underlying networks in trading, banking, and stock markets as well as other financial systems. Authors also debate the latest issues arising from these econophysics studies.

Author: Rosario N. Mantegna
Publisher: Cambridge University Press
ISBN: 1139431226
Category : Business & Economics
Languages : en
Pages : 164

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Book Description
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.

Author: Nelson Boli?var
Publisher: Arcler Press
ISBN: 9781773610979
Category :
Languages : en
Pages : 0

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Book Description
This book is intended to guide the reader into Econophysics, a brief approach to their methods and how economics has seemed a major impulse to become a predictable phenomenon. The book begins with an introduction to Econophysics, historical and basis and go on to cover statistical approaches to economics, and the near relation with physics models, probability in economics, few models and its reach. Also, the relation of economics with present interest in our lives, and in physics, justifying the use of probabilistic methods to analyze the markets and other approaches with modern physics in economics are presented as well.