Related papers: Universal Laws and Economic Phenomena
The empirical laws of chemical kinetics are studied from a microscopic point of view. An analysis based on elementary probability theory and combinatorics is enough to explain the kinetics law observed in experiments. Thus, an out of…
We discuss several models in order to shed light on the origin of power-law distributions and power-law correlations in financial time series. From an empirical point of view, the exponents describing the tails of the price increments…
Econophysics has developed as a research field that applies the formalism of Statistical Mechanics and Quantum Mechanics to address Economics and Finance problems. The branch of Econophysics that applies of Quantum Theory to Economics and…
This is a short review of the background and recent development in quantum game theory and its possible application in economics and finance. The intersection of science and society is discussed and Quantum Anthropic Principle is put…
Physical laws are a set of rules in the relationship between observations made by the experimenter. All these observations are made through a mechanism that links the external world to the experimenter's awareness, a mechanism which is not…
Consequences of the basic and most evident consistency requirement-that measured events cannot happen and not happen at the same time-are shortly reviewed. Particular emphasis is given to event forecast and event control. As a consequence,…
Mounting evidences are being gathered suggesting that income and wealth distribution in various countries or societies follow a robust pattern, close to the Gibbs distribution of energy in an ideal gas in equilibrium, but also deviating…
Random walks on graphs are widely used in all sciences to describe a great variety of phenomena where dynamical random processes are affected by topology. In recent years, relevant mathematical results have been obtained in this field, and…
A general analytical method is developed for describing crossover phenomena of arbitrary nature. The method is based on the algebraic self-similar renormalization of asymptotic series, with control functions defined by crossover conditions.…
In recent years there has been a closer interrelationship between several scientific areas trying to obtain a more realistic and rich explanation of the natural and social phenomena. Among these it should be emphasized the increasing…
The 'Discussion & Debate' issue of this Euro. Phys. J. Special Topic volume is: 'Can economics be a Physical Science?' I would rather address a more general question: 'Can economics or sociology avoid joining Natural Science?' and argue…
We formulate conditions for convergence of Laws of Large Numbers and show its links with of the parts of mathematical analysis such as summation theory, convergence of orthogonal series. We present also applications of the Law of Large…
It is still common wisdom amongst economists, politicians and lay people that economic growth is a necessity of our social systems, at least to avoid distributional conflicts. This paper challenges such belief moving from a purely physical…
Some thoughts are presented on the inter-relation between beauty and truth in science in general and theoretical physics in particular. Some conjectural procedures that can be used to create new ideas, concepts and results are illustrated…
Associating stock mechanics to real economy, in terms of volume, number of transactions, and cost, i.e. money flow for shares, we obtained the fundamental laws of stock mechanics.
Physicists have recently begun doing research in finance, and even though this movement is less than five years old, interesting and useful contributions have already emerged. This article reviews these developments in four areas, including…
In recent years, methods from network science are gaining rapidly interest in economics and finance. A reason for this is that in a globalized world the interconnectedness among economic and financial entities are crucial to understand and…
A short essay presenting the State-Effect Interpretation of natural deduction rules as an explanatory framework for recent developments in proof-theoretic semantics.
The law of likelihood underlies a general framework, known as the likelihood paradigm, for representing and interpreting statistical evidence. As stated, the law applies only to simple hypotheses, and there have been reservations about…
We propose a general interpretation for long-range correlation effects in the activity and volatility of financial markets. This interpretation is based on the fact that the choice between `active' and `inactive' strategies is subordinated…