Classical Econophysics

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Classical Econophysics

Author : Allin F. Cottrell,Paul Cockshott,Gregory John Michaelson,Ian P. Wright,Victor Yakovenko
Publisher : Routledge
Page : 419 pages
File Size : 52,9 Mb
Release : 2009-06-02
Category : Business & Economics
ISBN : 9781134020751

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Classical Econophysics by Allin F. Cottrell,Paul Cockshott,Gregory John Michaelson,Ian P. Wright,Victor Yakovenko Pdf

This monograph examines the domain of classical political economy using the methodologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance. The book begins by examining the most basic feature of economic life – production – and asks what it is about physical laws that allows production to take place. How is it that human labour is able to modify the world? It looks at the role that information has played in the process of mass production and the extent to which human labour still remains a key resource. The Ricardian labour theory of value is re-examined in the light of econophysics, presenting agent based models in which the Ricardian theory of value appears as an emergent property. The authors present models giving rise to the class distribution of income, and the long term evolution of profit rates in market economies. Money is analysed using tools drawn both from computer science and the recent Chartalist school of financial theory. Covering a combination of techniques drawn from three areas, classical political economy, theoretical computer science and econophysics, to produce models that deepen our understanding of economic reality, this new title will be of interest to higher level doctoral and research students, as well as scientists working in the field of econophysics.

Quantum Interaction

Author : Harald Atmanspacher,Emmanuel Haven,Kirsty Kitto,Derek Raine
Publisher : Springer
Page : 358 pages
File Size : 40,9 Mb
Release : 2014-04-17
Category : Computers
ISBN : 9783642549434

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Quantum Interaction by Harald Atmanspacher,Emmanuel Haven,Kirsty Kitto,Derek Raine Pdf

This book constitutes the refereed proceedings of the 7th International Conference on Quantum Interaction, QI 2013, held in Leicester, UK, in July 2013. The 31 papers presented in this book were carefully selected from numerous submissions. The papers cover various topics on quantum interaction and revolve around four themes: information processing/retrieval/semantic representation and logic; cognition and decision making; finance/economics and social structures and biological systems.

Econophysics of Agent-Based Models

Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer Science & Business Media
Page : 302 pages
File Size : 52,7 Mb
Release : 2013-09-07
Category : Science
ISBN : 9783319000237

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Econophysics of Agent-Based Models by Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh Pdf

The primary goal of this book is to present the research findings and conclusions of physicists, economists, mathematicians and financial engineers working in the field of "Econophysics" who have undertaken agent-based modelling, comparison with empirical studies and related investigations. Most standard economic models assume the existence of the representative agent, who is “perfectly rational” and applies the utility maximization principle when taking action. One reason for this is the desire to keep models mathematically tractable: no tools are available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories of traditional economics involving the representative agent. This book is based on the Econophys-Kolkata VII Workshop, at which many such modelling efforts were presented. In the book, leading researchers in their fields report on their latest work, consider recent developments and review the contemporary literature.

The Story of Econophysics

Author : Kishore Chandra Dash
Publisher : Cambridge Scholars Publishing
Page : 222 pages
File Size : 52,8 Mb
Release : 2019-08-22
Category : Business & Economics
ISBN : 9781527538887

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The Story of Econophysics by Kishore Chandra Dash Pdf

This book will appeal to the lay-reader with an interest in the history of what is today termed ‘Econophysics’, looking at various works throughout the ages that have led to the emergence of this field. It begins with a discussion of the philosophers and scientists who have contributed to this discipline, before moving on to considering the contributions of different institutions, books, journals and conferences in nurturing the subject.

Econophysics of Income and Wealth Distributions

Author : Bikas K. Chakrabarti,Anirban Chakraborti,Satya R. Chakravarty,Arnab Chatterjee
Publisher : Cambridge University Press
Page : 225 pages
File Size : 51,9 Mb
Release : 2013-03-07
Category : Business & Economics
ISBN : 9781107013445

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Econophysics of Income and Wealth Distributions by Bikas K. Chakrabarti,Anirban Chakraborti,Satya R. Chakravarty,Arnab Chatterjee Pdf

The first monograph in econophysics focussed on the analyses and modelling of these distributions, ideal for physicists and economists.

Contradictions

Author : Paul Zarembka
Publisher : Emerald Group Publishing
Page : 320 pages
File Size : 53,8 Mb
Release : 2013-05-09
Category : Political Science
ISBN : 9781781906712

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Contradictions by Paul Zarembka Pdf

Bringing together renowned political economy scholars, this volume analyzes two decisive factors in the world spread of capitalism: - a shift toward dominance of the financial sector; - global wage differentials so deep that recognition of a labor aristocracy cannot be avoided.

From Galileo to Modern Economics

Author : Gianfranco Tusset
Publisher : Springer
Page : 210 pages
File Size : 46,7 Mb
Release : 2018-09-08
Category : Business & Economics
ISBN : 9783319956121

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From Galileo to Modern Economics by Gianfranco Tusset Pdf

Empirical laws are rare in economics. This book describes efforts to anchor economic knowledge to invariant empirical laws. It links 17th and 18th century Galilean monetary economists to econophysics, a field that emerged in the mid-1990s. This virtual journey from past to present is charted by episodes on aggregates and empirical primacy. It includes the virtually unknown story of 19th century scholars who, by searching for a stricter mathematical approach, paved the way to an ‘engineering’ view of economics. Then there are celebrities like Pareto and his first empirical law governing the distribution of wealth. Pareto and Amoroso sparked a debate on the skewed distribution that spanned decades, ranging from finance to market transformations, to econophysics, with its concepts and tools inherited from statistical physics. The last stage of the journey goes through econophysics and the recent gradual advances it has made, which show how its position vis-à-vis economics has been changing.

Econophysics

Author : Gheorghe Savoiu
Publisher : Academic Press
Page : 180 pages
File Size : 46,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780124046269

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Econophysics by Gheorghe Savoiu Pdf

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

Ubiquitous Quantum Structure

Author : Andrei Y. Khrennikov
Publisher : Springer Science & Business Media
Page : 226 pages
File Size : 54,5 Mb
Release : 2010-01-23
Category : Science
ISBN : 9783642051012

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Ubiquitous Quantum Structure by Andrei Y. Khrennikov Pdf

Quantum-like structure is present practically everywhere. Quantum-like (QL) models, i.e. models based on the mathematical formalism of quantum mechanics and its generalizations can be successfully applied to cognitive science, psychology, genetics, economics, finances, and game theory. This book is not about quantum mechanics as a physical theory. The short review of quantum postulates is therefore mainly of historical value: quantum mechanics is just the first example of the successful application of non-Kolmogorov probabilities, the first step towards a contextual probabilistic description of natural, biological, psychological, social, economical or financial phenomena. A general contextual probabilistic model (Växjö model) is presented. It can be used for describing probabilities in both quantum and classical (statistical) mechanics as well as in the above mentioned phenomena. This model can be represented in a quantum-like way, namely, in complex and more general Hilbert spaces. In this way quantum probability is totally demystified: Born's representation of quantum probabilities by complex probability amplitudes, wave functions, is simply a special representation of this type.

New Approaches to Monetary Theory

Author : Heiner Ganßmann
Publisher : Routledge
Page : 291 pages
File Size : 55,9 Mb
Release : 2012-03-12
Category : Business & Economics
ISBN : 9781136820137

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New Approaches to Monetary Theory by Heiner Ganßmann Pdf

Everybody uses money every day, but we rarely stop to think about how money works. In this book, scholars from different disciplines seek to answer that question; from historians to economists, sociologists, a philosopher and a physicist. Money works as a social construction because we have mutual expectations that support its use – despite the seeming irrationality of trading valuable things or doing strenuous work for pieces of paper or numbers in accounts. Recently, there has been a revival of interest in monetary theory, not least because the impacts of globalizing markets and of new communication and information technologies have changed the forms of money. The deep crisis of the financial system has demonstrated the importance of a functioning monetary system and although renewed interest in this has led to significant contributions in various fields, it remains true that no social science discipline on its own is sufficiently equipped to explain the basic workings of monetary systems, their rapid innovation and their effects on social, economic and political structures. The contributors to this book report on their latest research on the origins of money, on the nature of monetary transactions, on money and the state, and on the role of money and finance in the recent global crisis. They show how established theories of money and the policies guided by these theories went wrong. This collection will be a valuable resource for students and researchers seeking a deeper understanding of money.

Money as Organization, Gustavo Del Vecchio's Theory

Author : Gianfranco Tusset
Publisher : Routledge
Page : 203 pages
File Size : 47,7 Mb
Release : 2015-10-06
Category : Business & Economics
ISBN : 9781317319245

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Money as Organization, Gustavo Del Vecchio's Theory by Gianfranco Tusset Pdf

Between 1909-17, Gustavo Del Vecchio developed a ‘theory of circulation’. In a series of articles he set out his thoughts on the utility and value of money, credit, discount rates, banking and international payments. Tusset re-evaluates Del Vecchio’s theory, concluding that money represents a technology which organizes both economy and society.

Social Fairness and Economics

Author : Lance Taylor,Armon Rezai,Thomas Michl
Publisher : Routledge
Page : 427 pages
File Size : 55,9 Mb
Release : 2013-02-11
Category : Business & Economics
ISBN : 9781136270871

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Social Fairness and Economics by Lance Taylor,Armon Rezai,Thomas Michl Pdf

This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley’s contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.

Dynamics of Markets

Author : Joseph L. McCauley
Publisher : Cambridge University Press
Page : 287 pages
File Size : 46,9 Mb
Release : 2009-09-03
Category : Business & Economics
ISBN : 9781139479578

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Dynamics of Markets by Joseph L. McCauley Pdf

This second edition presents the advances made in finance market analysis since 2005. The book provides a careful introduction to stochastic methods along with approximate ensembles for a single, historic time series. The new edition explains the history leading up to the biggest economic disaster of the 21st century. Empirical evidence for finance market instability under deregulation is given, together with a history of the explosion of the US Dollar worldwide. A model shows how bounds set by a central bank stabilized FX in the gold standard era, illustrating the effect of regulations. The book presents economic and finance theory thoroughly and critically, including rational expectations, cointegration and arch/garch methods, and replaces several of those misconceptions by empirically based ideas. This book will be of interest to finance theorists, traders, economists, physicists and engineers, and leads the reader to the frontier of research in time series analysis.

International Business: Concepts, Methodologies, Tools, and Applications

Author : Management Association, Information Resources
Publisher : IGI Global
Page : 2393 pages
File Size : 42,9 Mb
Release : 2016-03-17
Category : Business & Economics
ISBN : 9781466698154

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International Business: Concepts, Methodologies, Tools, and Applications by Management Association, Information Resources Pdf

Business transactions and partnerships across borders have become easier than ever due to globalization and global digital connectivity. As part of this shift in the business sphere, managers, executives, and strategists across industries must acclimate themselves with the challenges and opportunities for conducting business globally. International Business: Concepts, Methodologies, Tools, and Applications presents the latest research innovations focusing on cross-cultural communications and training, international relations, multinational enterprises, outsourcing, international business strategies, and competitive advantage in the global marketplace. This publication is an exhaustive multi-volume work essential to academic and corporate libraries who serve researchers, scholars, business executives and professionals, and graduate-level business students.

Relational Methodologies and Epistemology in Economics and Management Sciences

Author : Biggiero, Lucio
Publisher : IGI Global
Page : 485 pages
File Size : 50,9 Mb
Release : 2016-01-18
Category : Philosophy
ISBN : 9781466697713

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Relational Methodologies and Epistemology in Economics and Management Sciences by Biggiero, Lucio Pdf

The social sciences, especially economics, management, and organizational science, are experiencing a tremendous renewed interest for their epistemological and methodological statutes, as witnessed by the many books and specialized journals established during the last two decades. Relational Methodologies and Epistemology in the Economics and Management Sciences identifies and presents the four main network-based methodologies including network analysis, Boolean network simulation modeling, artificial neural network simulation modeling, and agent-based simulation modeling in addition to their conceptual-epistemological implications and concrete applications within the social and natural sciences. Featuring a critical assessment of relational methodologies and their practical applications, this timely publication is ideal for use by corporate R&D departments, researchers, theorists, and graduate-level students.