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Most of the econometric and econophysics models have been borrowed from the statistical physics, and as a cosequence, a new interdisciplinary science called econophysics has emerged. In this paper we planned to extend the analogy between…

General Finance · Quantitative Finance 2008-12-02 Ion Spanulescu , Anca Gheorghiu

I give a highly selective overview of the way statistical mechanics explains the microscopic origins of the time asymmetric evolution of macroscopic systems towards equilibrium and of first order phase transitions in equilibrium. These…

Mathematical Physics · Physics 2009-10-31 Joel L. Lebowitz

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…

Physics and Society · Physics 2008-12-02 Arnab Chatterjee , Sitabhra Sinha , Bikas K. Chakrabarti

Social physics is the application of ideas, concepts and tools from physics to study social phenomena. In this article, we present a mechanical theory underlying a mathematical treatment of social physics. We explore the possibility of…

Physics and Society · Physics 2024-02-28 VS Morales-Salgado

We review the present status of our research and understanding regarding the dynamics and the statistical properties of earthquakes, mainly from a statistical physical viewpoint. Emphasis is put both on the physics of friction and fracture,…

Statistical Mechanics · Physics 2012-05-22 Hikaru Kawamura , Takahiro Hatano , Naoyuki Kato , Soumyajyoti Biswas , Bikas K. Chakrabarti

This opening editorial aims to interest researchers and encourage novel research in the closely related fields of sociophysics and computational social science. We briefly discuss challenges and possible research directions in the study of…

Physics and Society · Physics 2022-08-31 Federico Vazquez

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…

Risk Management · Quantitative Finance 2015-03-13 Andrew W. Lo , Mark T. Mueller

Challenges due to the rapid urbanization of the world -- especially in emerging countries -- range from an increasing dependence on energy, to air pollution, socio-spatial inequalities, environmental and sustainability issues. Modelling the…

Physics and Society · Physics 2019-05-07 Marc Barthelemy

We review some approaches and philosophies of causal inference coming from sociology, economics, computer science, cognitive science, and statistics

Statistics Theory · Mathematics 2010-04-02 Andrew Gelman

Knowing and modelling the migration phenomena and especially the social and economic consequences have a theoretical and practical importance, being related to their consequences for development, economic progress (or as appropriate,…

General Finance · Quantitative Finance 2012-02-07 Anca Gheorghiu , Ion Spanulescu

This is a review article for Encyclopedia of Complexity and System Science, to be published by Springer http://refworks.springer.com/complexity/. The paper reviews statistical models for money, wealth, and income distributions developed in…

Statistical Finance · Quantitative Finance 2023-06-06 Victor M. Yakovenko

In the light of contemporary discussions of inter and transdisciplinarity, this paper approaches econophysics and sociophysics to seek a response to the question -- whether these interdisciplinary fields could contribute to physics and…

Physics and Society · Physics 2017-01-03 Anirban Chakraborti , Dhruv Raina , Kiran Sharma

Some basic sociophysical notions are described by a physicist, tentatively for a sociologically-oriented reader.

Physics and Society · Physics 2008-12-10 Krzysztof Kulakowski

This article is a supplement to my main contribution to the Routledge Handbook of Complexity Economics (2023). On the basis of three recent papers, it presents an unconventional perspective on economic inequality from a statistical physics…

General Economics · Economics 2023-07-06 Victor M. Yakovenko

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…

General Finance · Quantitative Finance 2015-05-27 Anindya S. Chakrabarti

Processes of mass communications in complicated social or sociobiological systems such as marketing, economics, politics, animal populations, etc. as a subject for the special scientific discipline - "mediaphysics" - are considered in its…

Physics and Society · Physics 2007-05-23 Dmitri V. Kuznetsov , Igor Mandel

Extensive cooperation among unrelated individuals is unique to humans, who often sacrifice personal benefits for the common good and work together to achieve what they are unable to execute alone. The evolutionary success of our species is…

Physics and Society · Physics 2017-07-13 Matjaz Perc , Jillian J. Jordan , David G. Rand , Zhen Wang , Stefano Boccaletti , Attila Szolnoki

Over the past decades, the diversity of areas explored by physicists has exploded, encompassing new topics from biophysics and chemical physics to network science. However, it is unclear how these new subfields emerged from the traditional…

Why do nations produce scientific research? This is a fundamental problem in the field of social studies of science. The paper confronts this question here by showing vital determinants of science to explain the sources of social power and…

General Finance · Quantitative Finance 2018-06-14 Mario Coccia

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…

Physics and Society · Physics 2023-08-08 Jean-Philippe Bouchaud