Related papers: Econophysics: A new discipline
Digitization of publications, advancement in communication technology, and the availability of bibliographic data have made it easier for the researchers to study the growth and dynamics of any discipline. We present a study on…
Named after Clio, the Greek goddess of history, cliophysics is a daughter (and in a sense an extension) of econophysics. Like econophysics it relies on the methodology of experimental physics. Its purpose is to conduct a scientific analysis…
Physics research complements traditional approaches, such as mathematical (stochastic) finance and econometrics in quantitative economics and finance. In the early years of this millennium, we embarked on an interdisciplinary research…
Socio-economic inequalities are manifested in different aspects of our social life. We discuss various aspects, beginning with the evolutionary and historical origins, and discussing the major issues from the social and economic point of…
This paper discusses serious drawbacks of existing knowledge in macroeconomics and finance in explaining and predicting economic and financial phenomena. Complexity science is proposed as an alternative approach to be used in order to…
The quantitative aspirations of economists and financial analysts have for many years been based on the belief that it should be possible to build models of economic systems - and financial markets in particular - that are as predictive as…
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…
Analysis of long-range dependence in financial time series was one of the initial steps of econophysics into the domain of mainstream finance and financial economics in the 1990s. Since then, many different financial series have been…
The purpose of this research article is to discover how the econophysics analysis can complement the econometrics models in application to the risk management in the central banks and financial institutions, operating within the nonlinear…
Most people agree that human activities are consistent with physical laws. One may naturally think that sensible economic theories can be derived from physical laws and evolutionary principles. This is indeed the case. In this paper, we…
Defining interdisciplinary physics today requires first a reformulation of what is physics today, which in turn calls for clarifying what makes a physicist. This assessment results from my forty year journey arguing and fighting to build…
This contribution discusses in what respect Econophysics may be able to contribute to the rebuilding of economics theory. It focuses on aggregation, individual vs collective learning and functional wisdom of the crowds.
This is the English version of my inaugural lecture at Coll\`ege de France in 2021, available at https://www.youtube.com/watch?v=bxktplKMhKU. I reflect on the difficulty of multi-disciplinary research, which often hinges of unexpected…
Sicily has played an important role in the development of the new research area named "Econophysics". In fact some key ideas supporting this new hybrid discipline were originally formulated in a pioneering work of the Sicilian born…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics is offering models of markets as complex systems, such as the gas-like model, able to predict money distributions…
We trace the initiative by Professor Meghnad Saha to develop a (statistical) physics model of market economy and his search for the mechanism to constrain the entropy maximized width of the income distribution in a society such that the…
This is the first of a series of papers that we intend to publish about the epistemology of fundamental physics in its current state. One of the main objectives of these papers is to improve our understanding of fundamental physics (and…
The relationship between micro-structure and macro-structure of complex systems using information geometry has been dealt by several authors. From this perspective, we are going to apply it as a geometrical structure connecting both…
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…
Research activities of Kyoto Econophysics Group is reviewed. Strong emphasis has been placed on real economy. While the initial stage of research was a first high-definition data analysis on personal income, it soon progressed to firm…