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Econophysics

Econophysics Book
Author : Gheorghe Săvoiu
Publisher : Academic Press
Release : 2013
ISBN : 0124046266
Language : En, Es, Fr & De

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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

Econophysics

Econophysics Book
Author : Sitabhra Sinha,Arnab Chatterjee,Anirban Chakraborti,Bikas K. Chakrabarti
Publisher : John Wiley & Sons
Release : 2010-11-22
ISBN : 3527408150
Language : En, Es, Fr & De

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Book Description :

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.

Introduction to Econophysics

Introduction to Econophysics Book
Author : Rosario N. Mantegna,H. Eugene Stanley
Publisher : Cambridge University Press
Release : 2007-07-16
ISBN : 9780521039871
Language : En, Es, Fr & De

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Book Description :

Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling, permit an understanding of the global behavior of economic systems without first having to work out a detailed microscopic description of the system. This pioneering text explores the use of these concepts in the description of financial systems, the dynamic new specialty of econophysics. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully-developed turbulent fluids and apply them to financial time series. They also present a new stochastic model that displays several of the statistical properties observed in empirical data. Physicists will find the application of statistical physics concepts to economic systems fascinating. Economists and other financial professionals will benefit from the book's empirical analysis methods and well-formulated theoretical tools that will allow them to describe systems composed of a huge number of interacting subsystems.

New Perspectives and Challenges in Econophysics and Sociophysics

New Perspectives and Challenges in Econophysics and Sociophysics Book
Author : Frédéric Abergel,Bikas K. Chakrabarti,Anirban Chakraborti,Nivedita Deo,Kiran Sharma
Publisher : Springer
Release : 2019-05-15
ISBN : 9783030113636
Language : En, Es, Fr & De

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Book Description :

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.

Econophysics of Stock and other Markets

Econophysics of Stock and other Markets Book
Author : Arnab Chatterjee,Bikas K. Chakrabarti
Publisher : Springer Science & Business Media
Release : 2007-12-31
ISBN : 9788847005020
Language : En, Es, Fr & De

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Book Description :

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.

Econophysics

Econophysics Book
Author : Gheorghe Săvoiu,Ion Iorga Simăn
Publisher : Elsevier Inc. Chapters
Release : 2012-11-27
ISBN : 0128068647
Language : En, Es, Fr & De

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Book Description :

Download Econophysics book written by Gheorghe Săvoiu,Ion Iorga Simăn, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Classical Econophysics

Classical Econophysics Book
Author : Allin F. Cottrell,Paul Cockshott,Gregory John Michaelson,Ian P. Wright,Victor Yakovenko
Publisher : Routledge
Release : 2009-06-02
ISBN : 1134020759
Language : En, Es, Fr & De

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Book Description :

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.

Essentials of Econophysics Modelling

Essentials of Econophysics Modelling Book
Author : Frantisek Slanina
Publisher : Oxford University Press
Release : 2013-12
ISBN : 0199299684
Language : En, Es, Fr & De

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Book Description :

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.

Introduction to Econophysics

Introduction to Econophysics Book
Author : Rosario N. Mantegna,H. Eugene Stanley
Publisher : Unknown
Release : 2000
ISBN : 9780521620086
Language : En, Es, Fr & De

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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.

Econophysics and Financial Economics

Econophysics and Financial Economics Book
Author : Franck Jovanovic,Christophe Schinckus
Publisher : Oxford University Press
Release : 2016-12-29
ISBN : 0190205032
Language : En, Es, Fr & De

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Book Description :

What is econophysics? What makes an econophysicist? Why are financial economists reluctant to use results from econophysics? Can we overcome disputes concerning hypotheses used in financial economics and that make no sense for econophysicists? How can we create a profitable dialogue betweenfinancial economists and econophysicists? How do we develop a common theoretical framework allowing the creation of more efficient models for the financial industry? This book moves beyond the disciplinary frontiers in order to initiate the development of a common theoretical framework that makes sense for both traditionally trained financial economists and econophysicists. Unlike other publications dedicated to econophysics, this book is written by twofinancial economists and it situates econophysics in the evolution of financial economics. The major issues that concern the collaboration between the two fields are analyzed in detail. More specifically, this book explains the theoretical and methodological foundations of these two fields in anaccessible vocabulary providing the first extensive analytic comparison between models and results from both fields. The book also identifies the major conceptual gate-keepers that complicate dialogue between the two communities while it provides elements to overcome them. By mixing conceptual, historical, theoretical and formal arguments our analysis bridges the current deaf dialogue between financial economists and econophysicists. This book details the recent results in econophysics that bring it closer to financial economics. So doing, it identifies what remainsto be done for econophysicists to contribute significantly to financial economics. Beyond the clarification of the current situation, this book also proposes a generic model compatible with the two fields, defining minimal conditions for common models. Finally, this book provides a research agendafor a more fruitful collaboration between econophysicists and financial economists, creating new research opportunities. In this perspective, it lays the foundations for common theoretical framework and models.

The Application of Econophysics

The Application of Econophysics Book
Author : Hideki Takayasu
Publisher : Springer Science & Business Media
Release : 2012-12-06
ISBN : 4431539476
Language : En, Es, Fr & De

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Book Description :

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.

Econophysics and Data Driven Modelling of Market Dynamics

Econophysics and Data Driven Modelling of Market Dynamics Book
Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer
Release : 2015-01-27
ISBN : 3319084739
Language : En, Es, Fr & De

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Book Description :

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.

Econophysics

Econophysics Book
Author : Gheorghe Săvoiu,Constantin Andronache
Publisher : Elsevier Inc. Chapters
Release : 2012-11-27
ISBN : 0128068701
Language : En, Es, Fr & De

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Book Description :

Download Econophysics book written by Gheorghe Săvoiu,Constantin Andronache, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Econophysics of Systemic Risk and Network Dynamics

Econophysics of Systemic Risk and Network Dynamics Book
Author : Frédéric Abergel,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer Science & Business Media
Release : 2012-08-08
ISBN : 8847025532
Language : En, Es, Fr & De

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Book Description :

The primary goal of the book is to present the ideas and research findings of active researchers such as physicists, economists, mathematicians and financial engineers working in the field of “Econophysics,” who have undertaken the task of modeling and analyzing systemic risk, network dynamics and other topics. Of primary interest in these studies is the aspect of systemic risk, which has long been identified as a potential scenario in which financial institutions trigger a dangerous contagion mechanism, spreading from the financial economy to the real economy. This type of risk, long confined to the monetary market, has spread considerably in the recent past, culminating in the subprime crisis of 2008. As such, understanding and controlling systemic risk has become an extremely important societal and economic challenge. The Econophys-Kolkata VI conference proceedings are dedicated to addressing a number of key issues involved. Several leading researchers in these fields report on their recent work and also review contemporary literature on the subject.

Practical Fruits of Econophysics

Practical Fruits of Econophysics Book
Author : Hideki Takayasu
Publisher : Springer Science & Business Media
Release : 2006-01-05
ISBN : 9784431289142
Language : En, Es, Fr & De

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Book Description :

The proceedings of the Third Nikkei Econophysics Symposium, "Business Models in the 21st Century - Risk Management and Expectations for Econophysics," held in Tokyo in November 2004, are gathered herein. Cutting-edge research on the practical application of econophysics is included, covering such topics as the predictability of markets, the analysis of rare events, the mechanism of crashes and bubbles, markets’ correlation and risk management, investment strategy, stochastic market simulations, agent-based market simulations, wealth distribution, and network structures in economics, most of which are beyond the scope of standard financial technology. New market models and financial-data analysis methods are introduced, and dynamic aspects of markets and economy are highlighted. Professionals, researchers, and students will find an invaluable resource in this first book of its kind to summarize the latest work in the field of econophysics.

Experimental Econophysics

Experimental Econophysics Book
Author : Ji-Ping Huang
Publisher : Springer
Release : 2014-08-05
ISBN : 3662442345
Language : En, Es, Fr & De

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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.

The Story of Econophysics

The Story of Econophysics Book
Author : Kishore Chandra Dash
Publisher : Cambridge Scholars Publishing
Release : 2019-08-22
ISBN : 1527538885
Language : En, Es, Fr & De

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Book Description :

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 Wealth Distributions

Econophysics of Wealth Distributions Book
Author : Arnab Chatterjee,Sudhakar Yarlagadda,Bikas K. Chakrabarti
Publisher : Springer Science & Business Media
Release : 2007-06-25
ISBN : 884700389X
Language : En, Es, Fr & De

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Book Description :

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.

Econophysics of Agent Based Models

Econophysics of Agent Based Models Book
Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer Science & Business Media
Release : 2013-09-07
ISBN : 3319000233
Language : En, Es, Fr & De

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Book Description :

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.

Noise and Fluctuations in Econophysics and Finance

Noise and Fluctuations in Econophysics and Finance Book
Author : Derek Abbott
Publisher : Society of Photo Optical
Release : 2005
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Proceedings of SPIE present the original research papers presented at SPIE conferences and other high-quality conferences in the broad-ranging fields of optics and photonics. These books provide prompt access to the latest innovations in research and technology in their respective fields. Proceedings of SPIE are among the most cited references in patent literature.