383:
representation establish an efficiency ranking of different markets and distinguish different bond market dynamics. It was found that more developed countries have stock markets with higher entropy and lower complexity, while those markets from emerging countries have lower entropy and higher complexity. Moreover, the authors conclude that the classification derived from the complexity-entropy causality plane is consistent with the qualifications assigned by major rating companies to the sovereign instruments. A similar study developed by
Bariviera et al. explore the relationship between credit ratings and informational efficiency of a sample of corporate bonds of US oil and energy companies using also the complexity–entropy causality plane. They find that this classification agrees with the credit ratings assigned by Moody's.
659:
526:"apparently left economics untouched". He reviews different avenues for quantum economics, some of which he notes are contradictory, settling on "quantum economics therefore needs to take a different kind of leaf from the book of quantum physics, by adopting quantum methods, not because they appear natural or elegant or come pre-approved by some higher authority or bear resemblance to something else, but because they capture in a useful way the most basic properties of what is being studied."
121:. Unsatisfied with the traditional explanations and approaches of economists – which usually prioritized simplified approaches for the sake of soluble theoretical models over agreement with empirical data – they applied tools and methods from physics, first to try to match financial data sets, and then to explain more general economic phenomena.
647:, published a critique of econophysics. They cite important empirical contributions primarily in the areas of finance and industrial economics, but list four concerns with work in the field: lack of awareness of economics work, resistance to rigor, a misplaced belief in universal empirical regularity, and inappropriate models.
124:
One driving force behind econophysics arising at this time was the sudden availability of large amounts of financial data, starting in the 1980s. It became apparent that traditional methods of analysis were insufficient – standard economic methods dealt with homogeneous agents and equilibrium, while
345:
models used by economists. The fluctuation-dissipation theorem connects the two to establish a concrete correspondence of "temperature", "entropy", "free potential/energy", and other physics notions to an economics system. The statistical mechanics model is not constructed a-priori - it is a result
610:
is an increasingly large variable in the tail region of the distribution considered (i.e. a price statistics with much more than 10 data). I.e., the events considered are not simply "outliers" but must really be taken into account and cannot be "insured away". It appears that it also plays a role
513:
says: "Quantum economics and finance is the application of probability based on projective geometry—also known as quantum probability—to modelling in economics and finance. It draws on related areas such as quantum cognition, quantum game theory, quantum computing, and quantum physics." In his
557:
property (i.e. scale invariant over many orders of magnitude in the data), arising from the tendency of individual market competitors, or of aggregates of them, to exploit systematically and optimally the prevailing "microtrends" (e.g., rising or falling prices). These "fat tails" are not only
382:
were used in several papers by econophysicist
Aurelio F. Bariviera and coauthors in order to assess the degree in the informational efficiency of stock markets. Zunino et al. use an innovative statistical tool in the financial literature: the complexity-entropy causality plane. This Cartesian
626:
theory. Fat tails can, however, also be due to other phenomena, such as a random number of terms in the central-limit theorem, or any number of other, non-econophysics models. Due to the difficulty in testing such models, they have received less attention in traditional economic analysis.
562:, which may be on the one hand, very small such that one may tend to neglect them, but which - on the other hand - are not negligible at all, i.e. they can never be made exponentially tiny, but instead follow a measurable algebraically decreasing power law, for example with a
374:
has used econophysics to model sociability via implementation of ideas in
Humanomics. There, noisy decision making and interaction parameters that facilitate the social action responses of reward and punishment result in spin glass models identical to those in physics.
807:"Econophysics of Wealth Distributions", Eds. A. Chatterjee et al., New Economic Windows, Springer, Milan (2005), & the subsequent eight Proc. Volumes published in 2006, 2007, 2010, 2011, 2013, 2014, 2015 & 2019 in the New Economic Windows series of Springer
816:
Farjoun and
Machover disclaim complete originality: their book is dedicated to the late Robert H. Langston, who they cite for direct inspiration (page 12), and they also note an independent suggestion in a discussion paper by
176:
If "econophysics" is taken to denote the principle of applying statistical mechanics to economic analysis, as opposed to a particular literature or network, priority of innovation is probably due to
Emmanuel Farjoun and
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Quantum statistical models have been successfully applied to finance by several groups of econophysicists using different approaches, but the origin of their success may not be due to quantum analogies.
611:
that near a change of the tendency (e.g. from falling to rising prices) there are typical "panic reactions" of the selling or buying agents with algebraically increasing bargain rapidities and volumes.
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Econophysics
Research in India in the last two Decades (1993-2013) (Published in "IIM Kozhikode Society & Management Review", Sage publication (USA), Vol. 2 Issue 2 (July), pp. 135-146 (2013))
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478:
he realized their work overlapped. Together they worked out a new approach to solving stochastic differential equations. Their approach is used to efficiently calculate solutions to the
420:
equation (see however for a critique of the Black–Scholes methodology). The Black–Scholes theory can be extended to provide an analytical theory of main factors in economic activities.
390:, which can be used to identify the noise in financial correlation matrices. One paper has argued that this technique can improve the performance of portfolios, e.g., in applied in
1273:
Vasiliki Plerou; Parameswaran
Gopikrishnan; Bernd Rosenow; Luis Amaral; Thomas Guhr; H. Eugene Stanley (2002). "Random matrix approach to cross correlations in financial data".
604:
777:
Interview of H. E. Stanley on
Econophysics (Published in "IIM Kozhikode Society & Management Review", Sage publication (USA), Vol. 2 Issue 2 (July), pp. 73-78 (2013))
263:, Victor Yakovenko and Yi-Cheng Zhang. Particularly noteworthy among the formal courses on econophysics is the one offered continuously for more than a decade by
264:
236:
2137:
337:, it has been shown that an emergence-producing equilibrium based on information via Shannon information entropy produces the same equilibrium measure (
1981:
761:
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of a boundedly rational assumption and modeling on existing neoclassical models. It has been used to prove the "inevitability of collusion" result of
136:, to describe the large number of papers written by physicists in the problems of (stock and other) markets, in a conference on statistical physics in
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538:, whose scope and aims significantly differ from those of economic theory. Various econophysicists have introduced models for price fluctuations in
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The almost regular meeting series on the topic include: ECONOPHYS-KOLKATA (held in
Kolkata & Delhi), Econophysics Colloquium, ESHIA/ WEHIA.
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1936:
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The ideology of econophysics is embodied in a new probabilistic economic theory and, on its basis, a unified theory of stock markets.
95:
1527:
Oksendal, Bernt. Stochastic differential equations: an introduction with applications. Springer
Science & Business Media, 2013.
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Oksendal, Bernt. Stochastic differential equations: an introduction with applications. Springer Science & Business Media, 2013.
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If, on the other hand, "econophysics" is taken to denote the application of physics to economics, one can consider the works of
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in a case for which the neoclassical version of the model does not predict collusion. Here the demand is increasing, as with
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from statistical mechanics) as a stochastic dynamical equation which represents noisy decisions, both of which are based on
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1946:
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fallacy preferring to buy more successful stocks and sell those that are less successful, or among short traders during a
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in 1969 for having developed and applied dynamic models for the analysis of economic processes, studied physics with
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Studies in History and Philosophy of Science Part B: Studies in History and Philosophy of Modern Physics
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26:(in economics) interdisciplinary research field, applying theories and methods originally developed by
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Abergel, F., Aoyama, H., Chakrabarti, B.K., Chakraborti, A., Deo, N., Raina, D., Vodenska, I. (Eds.),
1976:
1826:
2441:
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Economic Fluctuations and Statistical Physics: Quantifying Extremely Rare and Much Less Rare Events,
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When Physics Became Undisciplined (& Fathers of Econophysics): Cambridge University Thesis (2018)
1793:
The physicists noted the scaling behaviour of "fat tails" through a letter to the scientific journal
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1894:
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and Imre Kondor. The first book on econophysics was by R. N. Mantegna & H. E. Stanley in 2000.
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2679:
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2203:
Financial Bubbles, Real Estate Bubbles, Derivative Bubbles, and the Financial and Economic Crisis,
2002:
1989:
1964:
1959:
1003:"Inevitability of Collusion in a Coopetitive Bounded Rational Cournot Model with Increasing Demand"
166:, has been applied to the study of productive systems. That is the case with the works done at the
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1718:
Enrico Scalas (2006). "The application of continuous-time random walks in finance and economics".
215:
Econophysics has nothing to do with the "physical quantities approach" to economics, advocated by
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in Marx's political economy by re-conceptualising the relevant quantities as random variables.
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107:
1502:
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Dixon, Huw (2000). "keeping up with the Joneses: competition and the evolution of collusion".
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Johnson, Joseph; Tellis, G.J.; Macinnis, D.J. (2005). "Losers, Winners, and Biased Trades".
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Nature Physics Focus issue: Complex networks in finance March 2013 Volume 9 No 3 pp 119–128
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Econophysics was started in the mid-1990s by several physicists working in the subfield of
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in European Funded Research Projects as Forecasting Financial Crises and the Harvard-MIT
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23:
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252:
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35:
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Max Greenberg and H. Oliver Gao, "Twenty-five years of random asset exchange modeling"
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618:" methods, mainly by numerical ones, since they contain the deviations from the usual
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many of the more interesting phenomena in financial markets fundamentally depended on
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2019:
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Presently, one of the main results of econophysics comprises the explanation of the
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2016:
Aplikasi Fisika dalam Analisis Keuangan (Physics Applications in Financial Analysis
1919:
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1655:
1624:
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1428:
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1191:
Bariviera, A.F., Zunino, L., Guercio, M.B., Martinez, L.B. and Rosso, O.A. (2013).
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Zunino, L., Bariviera, A.F., Guercio, M.B., Martinez, L.B. and Rosso, O.A. (2012).
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2011:
1994:
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More Heat than Light - Economics as Social Physics, Physics as Nature's Economics
1951:
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1996. The inaugural meeting on econophysics was organised in 1998 in Budapest by
63:
42:. Some of its application to the study of financial markets has also been termed
1850:
1739:
1628:
1145:
1103:
748:
Kishore Chandra Dash, Story of Econophysics, Cambridge Scholars Press (UK, 2019)
3575:
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3254:
3239:
3204:
3189:
3169:
3139:
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2610:
2319:
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798:"An Introduction to Econophysics", Cambridge University Press, Cambridge (2000)
708:
678:
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429:
99:
51:
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2007:
1858:
1704:
1667:
1589:
359:
338:
91:
79:
3350:
1419:
Bouchaud, J-P.; Potters, M. (2001). "Welcome to a non-Black-Scholes world".
3610:
3249:
3194:
3089:
3079:
3074:
2999:
2844:
2369:
2297:
2224:
2133:
Income Distribution Dynamics of Economic Systems: An Econophysical Approach
1911:
1312:
728:
644:
614:
As in quantum field theory the "fat tails" can be obtained by complicated "
303:
240:
216:
39:
2171:
2131:
1193:"Efficiency and credit ratings: a permutation-information-theory analysis"
1080:"An elementary humanomics approach to boundedly rational quadratic models"
3224:
3214:
3004:
2883:
2827:
2302:
1287:
351:
299:
280:
1825:
Gallegati, Mauro; Keen, Steve; Lux, Thomas; Ormerod, Paul (2006-10-01).
3630:
3620:
3134:
2934:
2711:
2030:
Physical Modeling of Economic Systems. Classical and Quantum Economies.
1973:
An Introduction to Econophysics: Correlations and Complexity in Finance
1540:
Numerical Methods in Finance and Economics: A MATLAB-Based Introduction
1460:
The Unity of Science and Economics: A New Foundation of Economic Theory
1154:
1077:
640:
315:
314:. Moreover, there have been attempts to use the mathematical theory of
284:
2193:
Applications of Statistical Physics to Understanding Complex Systems,
1432:
1237:
3481:
2984:
2914:
2271:
891:
882:, Anirban Chakraborti, Satya R Chakravarty, Arnab Chatterjee (2012).
428:
Various other tools from physics that have so far been used, such as
417:
401:
347:
145:
83:
31:
27:
2122:
Econophysics and Sociophysics: Recent Progress and Future Directions
1903:
204:
as part of it. Indeed, as shown by Bruna Ingrao and Giorgio Israel,
2763:
1581:
1212:
1037:
471:
141:
2167:
Conference to mark 25th anniversary of Farjoun and Machover's book
1642:
Orrell, David; Haven, Emmanuel; Hawkins, Raymond J. (2024-01-17).
1389:
787:
1023:
534:
Econophysics is having some impacts on the more applied field of
137:
71:
144:) in 1995 and first appeared in its proceedings publication in
2223:
Bubble trouble: how physics can quantify stock-market crashes,
1986:
Patterns of Speculation - A Study in Observational Econophysics
1752:
290:
Physics models that have been applied in economics include the
223:. Notable econophysicists are Emmanuel Bacry, Giulio Bottazzi,
514:
overview article in the same issue, David Orrell outlines how
2157:
Is Inequality Inevitable?; Scientific American, November 2019
1755:"Modelling the short term herding behaviour of stock markets"
949:
Kahneman, Daniel; Sibony, Olivier; Sunstein, Cass R. (2021).
2240:
2061:
Econophysics and Sociophysics : Trends and Perspectives
1938:
Laws of Chaos: a probabilistic approach to political economy
183:
Laws of Chaos: A Probabilistic Approach to Political Economy
856:"Econophysics, 2023-2024 ~ e-Prospectus, Leiden University"
832:"Econophysics, 2012-2013 ~ e-Prospectus, Leiden University"
559:
1537:
Paolo Brandimarte (6 June 2013). "Chapter 1. Motivation".
306:
models developed to study cardiac arrest, and models with
549:
in the distribution of many kinds of financial data as a
2069:
Sitabhra Sinha, Arnab Chatterjee, Anirban Chakraborti,
1824:
1200:
Journal of Statistical Mechanics: Theory and Experiment
370:. Nobel laureate and founder of experimental economics
1361:
1336:
948:
1831:
Physica A: Statistical Mechanics and Its Applications
1801:
Scaling behavior in the dynamics of an economic index
1126:
Physica A: Statistical Mechanics and Its Applications
572:
558:
mathematically important, because they comprise the
2146:
European Physical Journal B, vol. 97 art. 69 (2024).
1385:
1383:
654:
509:
The editorial in the inaugural issue of the journal
400:
There are also analogies between finance theory and
255:, Jean-Francois Muzy, Enrico Scalas, Angelo Secchi,
1872:Philip Ball (2006). "Econophysics: Culture Crash".
1507:. University of California Press. pp. 115–16.
1641:
1564:Arioli, Gianni; Valente, Giovanni (October 2021).
1391:
598:
542:or original points of view on established models.
2014:, Dahlan, R. M., Hariadi, Y., Suroso, R. (2004).
1566:"What Is Really Quantum in Quantum Econophysics?"
1536:
1380:
884:Econophysics of Income & Wealth Distributions
322:, as developed by many scientists among whom are
208:in economics is based on the physical concept of
82:, was originally trained under the renowned Yale
3704:
2138:Cambridge University Press (Cambridge, UK, 2020)
2089:Cambridge University Press (Cambridge, UK, 2010)
2003:Cambridge University Press (Cambridge, UK, 2004)
1990:Cambridge University Press (Cambridge, UK, 2002)
1977:Cambridge University Press (Cambridge, UK, 1999)
1960:Cambridge University Press (Cambridge, UK, 1989)
1078:Michael J. Campbell and Vernon L. Smith (2021).
78:, former Yale University Professor of Economics
16:Application of physics to the study of economics
1530:
1418:
1394:Theory of Financial Risk and Derivative Pricing
926:
2127:, New Economic Windows Series, Springer (2017)
2085:Finitary Probabilistic Methods in Econophysics
1799:by Rosario N. Mantegna and H. Eugene Stanley:
287:methods often taken from statistical physics.
3380:
3366:
2256:
1999:Dynamics of Markets, Econophysics and Finance
1717:
1563:
1390:Jean-Philippe Bouchaud; Marc Potters (2003).
1119:"On the efficiency of sovereign bond markets"
1052:
1007:Journal of Mathematical Economics and Finance
976:Journal of Economic Behavior and Organization
759:Yale Economic Review, Retrieved October-25-09
1753:Y. Shapira; Y. Berman; E. Ben-Jacob (2014).
1258:: CS1 maint: multiple names: authors list (
1176:: CS1 maint: multiple names: authors list (
912:: CS1 maint: multiple names: authors list (
1871:
1017:
674:Bose–Einstein condensation (network theory)
74:-based preferences. One of the founders of
3373:
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2263:
2249:
2059:, Anirban Chakraborti, Arnab Chatterjee,
1893:
1778:
1694:
1286:
1211:
1153:
592:
106:. In particular, Tinbergen developed the
96:Nobel Memorial Prize in Economic Sciences
34:, usually those including uncertainty or
3733:Interdisciplinary subfields of economics
1811:
1809:
1644:"What is Quantum Finance and Economics?"
1635:
1000:
459:
2096:What has econophysics ever done for us?
2042:Arnab Chatterjee, Sudhakar Yarlagadda,
1602:
1364:Probabilistic Theory of Stock Exchanges
1061:"Congress Wants to Talk About GameStop"
251:, Rosario N. Mantegna, Matteo Marsili,
70:, as an example, was the originator of
3705:
3571:Atomic, molecular, and optical physics
2213:Financial crises and risk management,
1815:See for example Preis, Mantegna, 2003.
1680:
1058:
310:as well as other models developed for
132:The term "econophysics" was coined by
3713:Applied and interdisciplinary physics
3354:
2244:
2112:The Guidance of an Enterprise Economy
2032:Novosibirsk, Nauka (Science) (2005),
1935:Emmanual Farjoun and Moshé Machover,
1806:
1803:, Nature Vol. 376, pages 46-49 (1995)
1452:
1450:
1332:
1330:
973:
368:drive up GameStop stock price in 2021
129:and far-from-equilibrium situations.
50:. Econophysics is closely related to
2083:Ubaldo Garibaldi and Enrico Scalas,
2052:Springer-Verlag Italia (Milan, 2005)
2048:Econophysics of Wealth Distributions
1456:
504:
162:, heavily reliant on analogies from
108:gravity model of international trade
2340:Agent-based computational economics
2229:Physics World Online Lecture Series
1504:Enigmas of Chance: An Autobiography
1500:
1355:
13:
1929:
1447:
1327:
967:
699:Kinetic exchange models of markets
599:{\displaystyle P\propto x^{-4}\,,}
489:
296:kinetic exchange models of markets
172:Observatory of Economic Complexity
14:
3744:
2150:
1827:"Worrying trends in econophysics"
1059:Levine, Matt (18 February 2021).
267:at the Physics Department of the
110:that has become the workhorse of
2798:neoclassical–Keynesian synthesis
1230:10.1088/1742-5468/2013/08/P08007
657:
279:Basic tools of econophysics are
3692:Timeline of physics discoveries
1865:
1818:
1787:
1746:
1711:
1683:"Quantum Economics and Physics"
1674:
1605:"Econophysics for philosophers"
1603:Rickles, Dean (December 2007).
1596:
1557:
1521:
1494:
1485:
1412:
1362:Anatoly V. Kondratenko (2021).
1337:Anatoly V. Kondratenko (2015).
1266:
1184:
1110:
1071:
994:
951:Noise: A Flaw in Human Judgment
942:
920:
872:
529:
518:benefited from the concepts of
1398:. Cambridge University Press.
848:
824:
810:
801:
792:
781:
770:
752:
741:
694:Detrended fluctuation analysis
274:
30:in order to solve problems in
1:
2734:Critique of political economy
2270:
2075:Econophysics: An Introduction
1780:10.1088/1367-2630/16/5/053040
1687:Quantum Economics and Finance
1648:Quantum Economics and Finance
1339:Probabilistic Economic Theory
1001:Campbell, Michael J. (2016).
988:10.1016/s0167-2681(00)00117-7
735:
511:Quantum Economics and Finance
1681:Orrell, David (2024-03-08).
1026:Journal of Consumer Research
630:
540:physics of financial markets
423:
76:neoclassical economic theory
62:Physicists' interest in the
7:
3723:Schools of economic thought
3656:Quantum information science
2177:
1851:10.1016/j.physa.2006.04.029
1833:. Econophysics Colloquium.
1740:10.1016/j.physa.2005.11.024
1629:10.1016/j.shpsb.2007.01.003
1146:10.1016/j.physa.2012.04.009
1104:10.1016/j.physa.2020.125309
650:
308:self-organizing criticality
219:and others associated with
10:
3749:
3487:Classical electromagnetism
2872:Real business-cycle theory
1305:10.1103/PhysRevE.65.066126
936:Princeton University Press
888:Cambridge University Press
493:
463:
456:of statistical mechanics.
404:theory. For instance, the
206:general equilibrium theory
189:solving (their words) the
57:
46:referring to its roots in
3664:
3601:
3529:
3445:
3417:
3389:
3312:
3270:
2912:
2646:
2395:
2360:
2278:
2018:. Bina Sumber Daya MIPA.
1696:10.1177/29767032241237547
1660:10.1177/29767032231210519
1543:. John Wiley & Sons.
1469:10.1007/978-1-4939-3466-9
378:Quantifiers derived from
3593:Condensed matter physics
2065:Wiley-VCH, Berlin (2006)
2028:Anatoly V. Kondratenko.
932:Why Stock Markets Crash?
860:studiegids.leidenuniv.nl
836:studiegids.leidenuniv.nl
386:Another good example is
354:, stock buyers with the
66:is not new (see e.g.,);
2512:Industrial organization
2335:Computational economics
2172:Econophysics Colloquium
2130:Marcelo Byrro Ribeiro,
1941:, Verso (London, 1983)
620:Gaussian approximations
112:international economics
3677:Nobel Prize in Physics
3539:Relativistic mechanics
2717:Modern monetary theory
2382:Experimental economics
2352:Pluralism in economics
2325:Mathematical economics
1759:New Journal of Physics
600:
522:, and yet concepts of
516:neoclassical economics
480:Black–Scholes equation
474:attended a lecture by
406:Black–Scholes equation
392:portfolio optimization
225:Jean-Philippe Bouchaud
210:mechanical equilibrium
191:transformation problem
3728:Statistical mechanics
3682:Philosophy of physics
1570:Philosophy of Science
704:Long-range dependency
601:
460:Statistical mechanics
440:(including so-called
366:group's collusion to
362:as occurred with the
312:earthquake prediction
292:kinetic theory of gas
164:statistical mechanics
119:statistical mechanics
3718:Mathematical finance
3641:Mathematical physics
2591:Social choice theory
2347:Behavioral economics
2330:Complexity economics
1421:Quantitative Finance
684:Complexity economics
570:
536:quantitative finance
388:random matrix theory
127:heterogeneous agents
94:, who won the first
88:Josiah Willard Gibbs
36:stochastic processes
3616:Atmospheric physics
3455:Classical mechanics
3383:branches of physics
2675:American (National)
2375:Economic statistics
2071:Bikas K Chakrabarti
2057:Bikas K Chakrabarti
2044:Bikas K Chakrabarti
1965:Rosario N. Mantegna
1886:2006Natur.441..686B
1843:2006PhyA..370....1G
1771:2014NJPh...16e3040S
1732:2006PhyA..362..225S
1621:2007SHPMP..38..948R
1457:Chen, Jing (2015).
1297:2002PhRvE..65f6126P
1222:2013JSMTE..08..007F
1138:2012PhyA..391.4342Z
1096:2021PhyA..56225309C
953:. William Collins.
900:2013eiwd.book.....C
880:Bikas K Chakrabarti
635:In 2006 economists
564:failure probability
520:classical mechanics
470:When mathematician
466:Feynman–Kac formula
454:Feynman–Kac formula
434:classical mechanics
343:bounded rationality
229:Bikas K Chakrabarti
181:(1983). Their book
48:statistical physics
44:statistical finance
3672:History of physics
2234:2011-12-30 at the
1501:Kac, Mark (1987).
764:2008-05-08 at the
643:, Thomas Lux, and
596:
380:information theory
320:information theory
265:Diego Garlaschelli
253:Joseph L. McCauley
237:Diego Garlaschelli
168:Santa Fe Institute
40:nonlinear dynamics
3700:
3699:
3687:Physics education
3636:Materials science
3603:Interdisciplinary
3561:Quantum mechanics
3348:
3347:
2879:New institutional
2219:Videolectures.net
2209:Videolectures.net
2199:Videolectures.net
2189:Videolectures.net
1969:H. Eugene Stanley
1880:(7094): 686–688.
1550:978-1-118-62557-6
1478:978-1-4939-3464-5
1433:10.1080/713665871
1373:978-5-02-041486-0
1348:978-5-02-019121-1
1275:Physical Review E
1132:(18): 4342–4349.
524:quantum mechanics
505:Quantum economics
446:quantum economics
442:classical economy
438:quantum mechanics
328:Claude E. Shannon
269:Leiden University
261:H. Eugene Stanley
134:H. Eugene Stanley
104:Leiden University
3740:
3626:Chemical physics
3566:Particle physics
3492:Classical optics
3375:
3368:
3361:
3352:
3351:
2552:Natural resource
2387:Economic history
2313:Mechanism design
2265:
2258:
2251:
2242:
2241:
2117:MIT Press (2016)
2110:and Eric Smith,
2079:Wiley-VCH (2010)
1982:Bertrand Roehner
1924:
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1288:cond-mat/0108023
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330:, respectively.
324:Murray Gell-Mann
221:neo-Ricardianism
158:In recent years
68:Daniel Bernoulli
3748:
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3742:
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3646:Medical physics
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3556:Nuclear physics
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3519:Non-equilibrium
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3341:Business portal
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3030:von Böhm-Bawerk
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2680:Ancient thought
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2308:Contract theory
2293:Decision theory
2274:
2269:
2236:Wayback Machine
2215:Didier Sornette
2205:Didier Sornette
2180:
2153:
2094:Mark Buchanan,
1995:Joseph McCauley
1952:Philip Mirowski
1932:
1930:Further reading
1927:
1904:10.1038/441686a
1895:10.1.1.188.8120
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766:Wayback Machine
757:
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733:
724:Quantum finance
719:Thermoeconomics
714:Network science
689:Complex network
663:
656:
653:
637:Mauro Gallegati
633:
616:nonperturbative
583:
579:
571:
568:
567:
532:
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498:
496:Quantum finance
492:
490:Quantum finance
476:Richard Feynman
468:
462:
450:quantum finance
426:
372:Vernon L. Smith
335:potential games
277:
257:Didier Sornette
233:J. Doyne Farmer
202:Vilfredo Pareto
160:network science
64:social sciences
60:
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2195:Eugene Stanley
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2185:Eugene Stanley
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2151:External links
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2823:Malthusianism
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3611:Astrophysics
3425:Experimental
3336:Publications
3292:Publications
3259:
2855:Neoclassical
2845:Mercantilism
2754:Evolutionary
2616:Sociological
2589: /
2487:Geographical
2467:Evolutionary
2442:Digitization
2407:Agricultural
2370:Econometrics
2298:Price theory
2225:Tobias Preis
2132:
2121:
2111:
2100:Nature 2013
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1937:
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1463:. Springer.
1459:
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1254:cite journal
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613:
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530:Main results
510:
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332:
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289:
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217:Ian Steedman
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24:non-orthodox
20:Econophysics
19:
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3514:Statistical
3430:Theoretical
3407:Engineering
3130:von Neumann
2899:Supply-side
2884:Physiocracy
2828:Marginalism
2517:Information
2457:Engineering
2437:Development
2432:Demographic
2303:Game theory
2280:Theoretical
1155:11336/59368
819:E.T. Jaynes
622:, e.g. the
547:"fat tails"
486:on stocks.
452:), and the
300:percolation
285:statistical
275:Basic tools
198:LĂ©on Walras
140:(erstwhile
3707:Categories
3631:Geophysics
3621:Biophysics
3465:Analytical
3418:Approaches
3287:Economists
3160:Schumacher
3065:Schumpeter
3035:von Wieser
2955:von ThĂĽnen
2915:Economists
2814:Circuitism
2779:Humanistic
2774:Historical
2749:Ecological
2739:Democratic
2712:Chartalism
2702:Behavioral
2665:Mainstream
2626:Statistics
2621:Solidarity
2542:Managerial
2507:Humanistic
2502:Historical
2447:Ecological
2412:Behavioral
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1837:(1): 1–6.
1238:11336/2007
1213:1509.01839
1090:: 125309.
1013:(1): 7–20.
865:2023-12-24
841:2018-09-10
821:(page 239)
736:References
641:Steve Keen
356:"hot hand"
316:complexity
28:physicists
3581:Molecular
3482:Acoustics
3475:Continuum
3470:Celestial
3460:Newtonian
3447:Classical
3390:Divisions
3205:Greenspan
3170:Samuelson
3150:Galbraith
3120:Tinbergen
3060:von Mises
3055:Heckscher
3015:Edgeworth
2894:Stockholm
2889:Socialist
2789:Keynesian
2769:Happiness
2729:Classical
2690:Mutualism
2685:Anarchist
2670:Heterodox
2567:Personnel
2527:Knowledge
2492:Happiness
2482:Financial
2452:Education
2427:Democracy
2362:Empirical
2272:Economics
1890:CiteSeerX
1859:0378-4371
1720:Physica A
1705:2976-7032
1668:2976-7032
1590:0031-8248
1441:154368053
1366:. Nauka.
1341:. Nauka.
1246:122829948
1164:122129979
1084:Physica A
1065:Bloomberg
1046:145211986
908:cite book
892:Cambridge
631:Criticism
585:−
577:∝
551:universal
424:Subfields
418:advection
414:diffusion
402:diffusion
348:Huw Dixon
185:proposes
146:Physica A
84:physicist
32:economics
3316:Category
3296:journals
3282:Glossary
3235:Stiglitz
3200:Rothbard
3180:Buchanan
3165:Friedman
3155:Koopmans
3145:Leontief
3125:Robinson
3010:Marshall
2860:Lausanne
2764:Georgism
2759:Feminist
2707:Buddhist
2697:Austrian
2596:Regional
2572:Planning
2547:Monetary
2477:Feminist
2422:Cultural
2417:Business
2232:Archived
2178:Lectures
2008:Surya Y.
1912:16760949
1313:12188802
930:(2003).
762:Archived
651:See also
566:of only
472:Mark Kac
302:models,
142:Calcutta
3665:Related
3549:General
3544:Special
3402:Applied
3331:Outline
3302:Schools
3294: (
3255:Piketty
3250:Krugman
3115:Kuznets
3105:Kalecki
3080:Polanyi
2970:Cournot
2965:Bastiat
2950:Ricardo
2940:Malthus
2930:Quesnay
2833:Marxian
2724:Chicago
2654:history
2649:Schools
2636:Welfare
2606:Service
2397:Applied
1920:4319192
1882:Bibcode
1839:Bibcode
1767:Bibcode
1728:Bibcode
1654:: 3–4.
1617:Bibcode
1321:2753508
1293:Bibcode
1218:Bibcode
1134:Bibcode
1092:Bibcode
896:Bibcode
555:scaling
304:chaotic
138:Kolkata
72:utility
58:History
3576:Atomic
3531:Modern
3381:Major
3240:Thaler
3220:Ostrom
3215:Becker
3210:Sowell
3190:Baumol
3095:Myrdal
3090:Sraffa
3085:Frisch
3075:Knight
3070:Keynes
3045:Fisher
3040:Veblen
3025:Pareto
3005:Menger
3000:George
2995:Jevons
2990:Walras
2980:Gossen
2904:Thermo
2582:Public
2577:Policy
2532:Labour
2497:Health
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1874:Nature
1857:
1796:Nature
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606:where
410:option
3326:Lists
3321:Index
3272:Lists
3245:Hoppe
3230:Lucas
3195:Solow
3185:Arrow
3175:Simon
3140:Lange
3135:Hicks
3110:Röpke
3100:Hayek
3050:Pigou
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2935:Smith
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2809:Post-
2631:Urban
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2601:Rural
1916:S2CID
1437:S2CID
1317:S2CID
1283:arXiv
1242:S2CID
1208:arXiv
1196:(PDF)
1160:S2CID
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560:risks
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