Econophysics And Financial Economics
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Author |
: Franck Jovanovic |
Publisher |
: Oxford University Press |
Total Pages |
: 249 |
Release |
: 2017 |
ISBN-10 |
: 9780190205034 |
ISBN-13 |
: 0190205032 |
Rating |
: 4/5 (34 Downloads) |
Synopsis Econophysics and Financial Economics by : Franck Jovanovic
This book provides the first 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 |
: Gheorghe Savoiu |
Publisher |
: Academic Press |
Total Pages |
: 180 |
Release |
: 2013 |
ISBN-10 |
: 9780124046269 |
ISBN-13 |
: 0124046266 |
Rating |
: 4/5 (69 Downloads) |
Synopsis Econophysics by : Gheorghe Savoiu
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 |
: Rosario N. Mantegna |
Publisher |
: Cambridge University Press |
Total Pages |
: 164 |
Release |
: 1999-11-13 |
ISBN-10 |
: 9781139431224 |
ISBN-13 |
: 1139431226 |
Rating |
: 4/5 (24 Downloads) |
Synopsis Introduction to Econophysics by : Rosario N. Mantegna
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 |
: Joseph L. McCauley |
Publisher |
: Cambridge University Press |
Total Pages |
: 287 |
Release |
: 2009-09-03 |
ISBN-10 |
: 9781139479578 |
ISBN-13 |
: 1139479571 |
Rating |
: 4/5 (78 Downloads) |
Synopsis Dynamics of Markets by : Joseph L. McCauley
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.
Author |
: Peter Richmond |
Publisher |
: Oxford University Press, USA |
Total Pages |
: 258 |
Release |
: 2013-09-05 |
ISBN-10 |
: 9780199674701 |
ISBN-13 |
: 0199674701 |
Rating |
: 4/5 (01 Downloads) |
Synopsis Econophysics and Physical Economics by : Peter Richmond
This book summarises progress in the understanding of financial markets and economics based on the established methodology of statistical physics. It offers a new approach to the fundamentals of economics that offers the potential for increased insight and understanding. It should be of interest to all serious students of the subject.
Author |
: Franck Jovanovic |
Publisher |
: |
Total Pages |
: 25 |
Release |
: 2018 |
ISBN-10 |
: OCLC:1304324794 |
ISBN-13 |
: |
Rating |
: 4/5 (94 Downloads) |
Synopsis Breaking Down the Barriers Between Econophysics and Financial Economics by : Franck Jovanovic
This article highlights the current misunderstanding between economists and econophysicists by adopting the financial economists' viewpoint in order to explain why the works developed by econophysicists are not recognized in finance. Because both communities do not share the same scientific culture, and for the other reasons developed in the article, economists often consider econophysics as a strictly empirical field without theoretical justification. This paper shows the opposite; it also tries to facilitate the dialogue between econophysicists who often do not explain in details their theoretical roots and financial economists who are not familiar with statistical physics. Beyond this clarification, this paper also allows to identify what remains to be done for econophysicists to contribute significantly to financial economics: 1) development of a common framework vocabulary in order to better compare and integrate the two approaches; 2) development of generative models explaining the emergence of power laws; and 3) development of statistical tests for the identification of such statistical regularities.
Author |
: Sitabhra Sinha |
Publisher |
: John Wiley & Sons |
Total Pages |
: 371 |
Release |
: 2010-12-06 |
ISBN-10 |
: 9783527408153 |
ISBN-13 |
: 3527408150 |
Rating |
: 4/5 (53 Downloads) |
Synopsis Econophysics by : Sitabhra Sinha
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 |
: Frédéric Abergel |
Publisher |
: Springer Science & Business Media |
Total Pages |
: 301 |
Release |
: 2013-09-07 |
ISBN-10 |
: 9783319000237 |
ISBN-13 |
: 3319000233 |
Rating |
: 4/5 (37 Downloads) |
Synopsis Econophysics of Agent-Based Models by : Frédéric Abergel
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 |
: Hideki Takayasu |
Publisher |
: Springer Science & Business Media |
Total Pages |
: 410 |
Release |
: 2006-01-05 |
ISBN-10 |
: 4431289143 |
ISBN-13 |
: 9784431289142 |
Rating |
: 4/5 (43 Downloads) |
Synopsis Practical Fruits of Econophysics by : Hideki Takayasu
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.
Author |
: Arnab Chatterjee |
Publisher |
: Springer Science & Business Media |
Total Pages |
: 262 |
Release |
: 2007-11-06 |
ISBN-10 |
: 9788847006652 |
ISBN-13 |
: 8847006651 |
Rating |
: 4/5 (52 Downloads) |
Synopsis Econophysics of Markets and Business Networks by : Arnab Chatterjee
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.