Related papers: Socio-economic inequalities: a statistical physics…
The traditional and most common view of economists on the issue of (bad) uncertainty and its effects has been one of partial equilibrium. When the topic is approached from a macroeconomic perspective, the most frequent has been the…
Drawing on work spanning economics, public health, education, sociology, and law, I formalize theoretically what makes systemic discrimination "systemic." Injustices do not occur in isolation, but within a complex system of interdependent…
Economies and societal structures in general are complex stochastic systems which may not lend themselves well to algebraic analysis. An addition of subjective value criteria to the mechanics of interacting agents will further complicate…
In sequential decision-making problems involving sensitive attributes like race and gender, reinforcement learning (RL) agents must carefully consider long-term fairness while maximizing returns. Recent works have proposed many different…
The binomial Science & Technology (S & T) is inseparable. In this contribution are presented some general considerations on the question of the aspect and interrelationships of the Science, Technology, Government and Society, and the role…
Inverse problems in statistical physics are motivated by the challenges of `big data' in different fields, in particular high-throughput experiments in biology. In inverse problems, the usual procedure of statistical physics needs to be…
In this letter we present a stochastic dynamic model which can explain economic cycles. We show that the macroscopic description yields a complex dynamical landscape consisting of multiple stable fixed points, each corresponding to a split…
This entry in the Encyclopedia of Complexity and Systems Science, Springer present a summary of some of the concepts and calculational tools that have been developed in attempts to apply statistical physics approaches to seismology. We…
A growing literature provides evidence on multigenerational inequality -- the extent to which socio-economic advantages persist across three or more generations. This chapter reviews its main findings and implications. Most studies find…
The mathematisation of the socio-economic sphere, where mathematics actively constructs social reality, presents a challenge for studies on ethics in mathematics and its education. While existing scholarship on ethics in mathematics offers…
Models that explain the economical and political realities of nowadays societies should help all the world's citizens. Yet, the last four years showed that the current models are missing. Here we develop a dynamical society-deciders model…
We briefly review statistical models for the probability distribution of money developed in the econophysics literature since the late 1990s. In these models, economic transactions are modeled as random transfers of money between the agents…
Complex macroscopic behaviour can arise in many-body systems with only very simple elements as a consequence of the combination of competition and inhomogeneity. This paper attempts to illustrate how statistical physics has driven this…
The objective of statistical physics is to understand macroscopic behavior of a many-body system from the interactions of the constituents of that system. When many-body systems reach critical states, simple universal and scaling behaviors…
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…
Social and economic inequality is a plague of the XXI Century. It is continuously widening, as the wealth of a relatively small group increases and, therefore, the rest of the world shares a shrinking fraction of resources. This situation…
Evolution is the fundamental physical process that gives rise to biological phenomena. Yet it is widely treated as a subset of population genetics, and thus its scope is artificially limited. As a result, the key issues of how rapidly…
We consider nonequilibrium systems with complex dynamics in stationary states with large fluctuations of intensive quantities (e.g. the temperature, chemical potential, or energy dissipation) on long time scales. Depending on the…
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…
The conceptual setting of quantum mechanics is subject to an ongoing debate from its beginnings until now. The consequences of the apparent differences between quantum statistics and classical statistics range from the philosophical…