Econophysics

Author : Rosario N. Mantegna,H. Eugene Stanley
Publisher : Cambridge University Press
Page : 164 pages
File Size : 45,7 Mb
Release : 1999-11-13
Category : Business & Economics
ISBN : 9781139431224

Get Book

Introduction to Econophysics by Rosario N. Mantegna,H. Eugene Stanley Pdf

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 : Carlo Requião da Cunha
Publisher : CRC Press
Page : 218 pages
File Size : 42,7 Mb
Release : 2021-10-29
Category : Business & Economics
ISBN : 9781000464238

Get Book

Introduction to Econophysics by Carlo Requião da Cunha Pdf

Econophysics explores the parallels between physics and economics and is an exciting topic that is attracting increasing attention. However there is a lack of literature that explains the topic from a broad perspective. This book introduces advanced undergraduates and graduate students in physics and engineering to the topic from this outlook, and is accompanied by rigorous mathematics which ensures that this will also be a good guide for established researchers in the field as well as researchers from other fields, such as mathematics and statistics, who are interested in the topic. Key features: Presents a multidisciplinary approach that will be of interest to students and researchers from physics, engineering, mathematics, statistics, and other physical sciences Accompanied by Python code with further learning opportunities, available for readers to download from the CRC Press website. Accessible to both students and researchers Carlo R. da Cunha is an associate professor of physics and engineering physics at the Universidade Federal do Rio Grande do Sul (Brazil) and has been since 2011. Dr. da Cunha received his M.Sc. Degree from the West Virginia University in 2001 and his Ph.D. degree from Arizona State University in 2005. He was a postdoctoral researcher at McGill University in Canada in 2006 and an assistant professor of engineering at the University Federal de Santa Catarina between 2007 and 2011. He has been a guest professor at the Technische Universität Wien (Austria), Chiba University (Japan) and Arizona State University (US). His research revolves around the physics of complex systems where he has been drawing parallels between physical and economic systems from quantum to social levels. To access additional resources please take a lookhere.

Author : Sitabhra Sinha,Arnab Chatterjee,Anirban Chakraborti,Bikas K. Chakrabarti
Publisher : John Wiley & Sons
Page : 371 pages
File Size : 45,7 Mb
Release : 2010-12-06
Category : Science
ISBN : 9783527408153

Get Book

Econophysics by Sitabhra Sinha,Arnab Chatterjee,Anirban Chakraborti,Bikas K. Chakrabarti Pdf

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.

Author : Gheorghe Savoiu
Publisher : Academic Press
Page : 180 pages
File Size : 49,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780124046269

Get Book

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

Author : Arnab Chatterjee,Bikas K. Chakrabarti
Publisher : Springer Science & Business Media
Page : 255 pages
File Size : 53,5 Mb
Release : 2007-12-31
Category : Science
ISBN : 9788847005020

Get Book

Econophysics of Stock and other Markets by Arnab Chatterjee,Bikas K. Chakrabarti Pdf

This book reviews the latest econophysics researches on the fluctuations in stock, forex and other markets. The statistical modeling of markets, using various agent-based game theoretical approaches, and their scaling analysis have been discussed. The leading researchers in these fields have reported on their recent work and also reviewed the contemporary literature. Some historical perspectives as well as some comments and debates on recent issues in econophysics research have also been included.

Author : Arnab Chatterjee,Bikas K. Chakrabarti
Publisher : Springer Science & Business Media
Page : 266 pages
File Size : 43,9 Mb
Release : 2007-11-06
Category : Science
ISBN : 9788847006652

Get Book

Econophysics of Markets and Business Networks by Arnab Chatterjee,Bikas K. Chakrabarti Pdf

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 : Arnab Chatterjee,Sudhakar Yarlagadda,Bikas K. Chakrabarti
Publisher : Springer Science & Business Media
Page : 251 pages
File Size : 42,8 Mb
Release : 2007-06-25
Category : Business & Economics
ISBN : 9788847003897

Get Book

Econophysics of Wealth Distributions by Arnab Chatterjee,Sudhakar Yarlagadda,Bikas K. Chakrabarti Pdf

We all know the hard fact: neither wealth nor income is ever uniform for us all. Justified or not, they are unevenly distributed; few are rich and many are poor! Investigations for more than hundred years and the recent availability of the income distribution data in the internet (made available by the finance ministries of various countries; from the tax return data of the income tax departments) have revealed some remarkable features. Irrespective of many differences in culture, history, language and, to some extent, the economic policies followed in different countries, the income distribution is seen to fol low a particular universal pattern. So does the wealth distribution. Barring an initial rise in population with income (or wealth; for the destitutes), the population decreases either exponentially or in a log-normal way for the ma jority of 'middle income' group, and it eventually decreases following a power law (Pareto law, following Vilfredo Pareto's observation in 1896) for the rich est 5-10 % of the population! This seems to be an universal feature - valid for most of the countries and civilizations; may be in ancient Egypt as well! Econophysicists tried to view this as a natural law for a statistical ma- body-dynamical market system, analogous to gases, liquids or solids: classical or quantum.

Author : Ji-Ping Huang
Publisher : Springer
Page : 204 pages
File Size : 49,5 Mb
Release : 2014-08-05
Category : Science
ISBN : 9783662442340

Get Book

Experimental Econophysics by Ji-Ping Huang Pdf

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 : Gheorghe Săvoiu,Ion Iorga Simăn
Publisher : Elsevier Inc. Chapters
Page : 178 pages
File Size : 44,5 Mb
Release : 2012-11-27
Category : Business & Economics
ISBN : 9780128068649

Get Book

Econophysics by Gheorghe Săvoiu,Ion Iorga Simăn Pdf

Author : Franck Jovanovic,Christophe Schinckus
Publisher : Oxford University Press
Page : 249 pages
File Size : 52,5 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780190205034

Get Book

Econophysics and Financial Economics by Franck Jovanovic,Christophe Schinckus Pdf

This work provides an extensive analytic comparison between models and results from econophysics and financial economics in an accessible and common vocabulary. Unlike other publications dedicated to econophysics, it situates this field in the evolution of financial economics by laying the foundations for common theoretical framework and models.

Author : Frantisek Slanina
Publisher : Oxford University Press
Page : 427 pages
File Size : 55,5 Mb
Release : 2013-12
Category : Business & Economics
ISBN : 9780199299683

Get Book

Essentials of Econophysics Modelling by Frantisek Slanina Pdf

This book is a course in methods and models rooted in physics and used in modelling economic and social phenomena. It covers the discipline of econophysics, which creates an interface between physics and economics. Besides the main theme, it touches on the theory of complex networks and simulations of social phenomena in general. After a brief historical introduction, the book starts with a list of basic empirical data and proceeds to thorough investigation of mathematical and computer models. Many of the models are based on hypotheses of the behaviour of simplified agents. These comprise strategic thinking, imitation, herding, and the gem of econophysics, the so-called minority game. At the same time, many other models view the economic processes as interactions of inanimate particles. Here, the methods of physics are especially useful. Examples of systems modelled in such a way include books of stock-market orders, and redistribution of wealth among individuals. Network effects are investigated in the interaction of economic agents. The book also describes how to model phenomena like cooperation and emergence of consensus. The book will be of benefit to graduate students and researchers in both Physics and Economics.

Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer
Page : 353 pages
File Size : 41,8 Mb
Release : 2015-01-27
Category : Science
ISBN : 9783319084732

Get Book

Econophysics and Data Driven Modelling of Market Dynamics by Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh Pdf

This book presents the works and research findings of physicists, economists, mathematicians, statisticians, and financial engineers who have undertaken data-driven modelling of market dynamics and other empirical studies in the field of Econophysics. During recent decades, the financial market landscape has changed dramatically with the deregulation of markets and the growing complexity of products. The ever-increasing speed and decreasing costs of computational power and networks have led to the emergence of huge databases. The availability of these data should permit the development of models that are better founded empirically, and econophysicists have accordingly been advocating that one should rely primarily on the empirical observations in order to construct models and validate them. The recent turmoil in financial markets and the 2008 crash appear to offer a strong rationale for new models and approaches. The Econophysics community accordingly has an important future role to play in market modelling. The Econophys-Kolkata VIII conference proceedings are devoted to the presentation of many such modelling efforts and address recent developments. A number of leading researchers from across the globe report on their recent work, comment on the latest issues, and review the contemporary literature.

Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer Science & Business Media
Page : 302 pages
File Size : 42,7 Mb
Release : 2013-09-07
Category : Science
ISBN : 9783319000237

Get Book

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.

Author : Kishore Chandra Dash
Publisher : Cambridge Scholars Publishing
Page : 222 pages
File Size : 47,6 Mb
Release : 2019-08-22
Category : Business & Economics
ISBN : 9781527538887

Get Book

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.

Author : Frédéric Abergel,Bikas K. Chakrabarti,Anirban Chakraborti,Nivedita Deo,Kiran Sharma
Publisher : Springer
Page : 272 pages
File Size : 44,9 Mb
Release : 2019-04-02
Category : Science
ISBN : 9783030113643

Get Book

New Perspectives and Challenges in Econophysics and Sociophysics by Frédéric Abergel,Bikas K. Chakrabarti,Anirban Chakraborti,Nivedita Deo,Kiran Sharma Pdf

This book presents the latest perspectives and challenges within the interrelated fields of econophysics and sociophysics, which have emerged from the application of statistical physics to economics and sociology. Economic and financial markets appear to be in a permanent state of flux. Billions of agents interact with each other, giving rise to complex dynamics of economic quantities at the micro and macro levels. With the availability of huge data sets, researchers can address questions at a much more granular level than was previously possible. Fundamental questions regarding the aggregation of actions and information and the coordination, complexity, and evolution of economic and financial networks are currently receiving much attention in the econophysics research agenda. In parallel, the sociophysics literature has focused on large-scale social data and their interrelations. In this book, leading researchers from different communities – economists, sociologists, financial analysts, mathematicians, physicists, statisticians, and others – report on their recent work and their analyses of economic and social behavior.