Related papers: Econophysics: A new discipline
At many physics departments a significant fraction of teaching is in support of engineers and scientists in other majors. These service courses are thus an automatic crucible of interdisciplinary interaction, and at times, strife. For…
Most papers which explored so far macroeconomic variables took into account income and wealth. Equally important as the previous macroeconomic variables is the expenditure or consumption, which shows the amount of goods and services that a…
We propose a stochastic map model of economic dynamics. In the last decade, an array of observations in economics has been investigated in the econophysics literature, a major example being the universal features of inequality in terms of…
The climate system is a forced, dissipative, nonlinear, complex and heterogeneous system that is out of thermodynamic equilibrium. The system exhibits natural variability on many scales of motion, in time as well as space, and it is subject…
We analyze the current trends in higher education and discuss its impact on physics enrollment in US institutions. The pandemic, lockdowns, unemployment, and healthcare problems have led to unique social and economic conditions. These…
This essay, written by a statistician and a climate scientist, describes our view of the gap that exists between current practice in mainstream climate science, and the practical needs of policymakers charged with exploring possible…
This paper is concerned with complex macroscopic behaviour arising in many-body systems through the combinations of competitive interactions and disorder, even with simple ingredients at the microscopic level. It attempts to indicate and…
We present a concise review of where we stand in particle physics today. First we discuss QCD, then the electroweak sector and finally the motivations and the avenues for new physics beyond the Standard Model.
Is the present economic and financial crisis similar to some previous one? It would be so nice to prove that universality laws exist for predicting such rare events under a minimum set of realistic hypotheses. First, I briefly recall…
An axiomatic approach to macroeconomics based on the mathematical structure of thermodynamics is presented. It deduces relations between aggregate properties of an economy, concerning quantities and flows of goods and money, prices and the…
More than hundred years ago the 'classic physics' was it in its full power, with just a few unexplained phenomena; which however led to a revolution and the development of the 'modern physics'. Today the computing is in a similar position:…
Economic Complexity (EC) methods have gained increasing popularity across fields and disciplines. In particular, the EC toolbox has proved particularly promising in the study of complex and interrelated phenomena, such as the transition…
Innovation in the economy is an important engine of growth and no economy, whatever its complexity and degree of advancement, whether it is based on industry, agriculture, high tech or the providing of services, can be truly healthy without…
The boundaries between physical and social networks have narrowed with the advent of the Internet and its pervasive platforms. This has given rise to a complex adaptive information ecosystem where individuals and machines compete for…
This review article is the second part of the project ``Selected Topics of Social Physics". The first part has been devoted to equilibrium systems. The present part considers nonequilibrium systems. The style of the paper combines the…
Over the last third of the century, a few tens of events, detected by ground-based cosmic ray detectors, have opened a new window in the field of high-energy astrophysics. These events have macroscopic energies, unobserved sources, an…
When studying social, economic and biological systems, one has often access to only limited information about the structure of the underlying networks. An example of paramount importance is provided by financial systems: information on the…
Despite its amazing quantitative successes and contributions to revolutionary technologies, physics currently faces many unsolved mysteries ranging from the meaning of quantum mechanics to the nature of the dark energy that will determine…
Econophysics provides a strategy for understanding the potential mechanisms underlying the anomalous distribution of wealth found in real societies. We present a computational nonlinear stochastic model for the distribution of wealth that…
A common feature of the recent calls for reform of the undergraduate biology curriculum has been for better coordination between biology and the courses from the allied disciplines of mathematics, chemistry, and physics. Physics has lagged…