Related papers: Econophysics deserves a revamping
Dynamical systems theory has long provided a foundation for understanding evolving phenomena across scientific domains. Yet, the application of this theory to complex real-world systems remains challenging due to issues in mathematical…
Cyberspace is being more and more tightly linked to the physical space and socioeconomic space to emerge a cyber-physical-socioeconomic space, where humans, machines and physical objects in the natural environment interact with each other,…
Schumpeter's (1939) distinction between changes in the form of the production function corresponding to innovation, and shifts along the production function corresponding to factor substitution, does not preclude that the underlying…
Dynamic Complexity studies the maintainability of queries with logical formulas in a setting where the underlying structure or database changes over time. Most often, these formulas are from first-order logic, giving rise to the dynamic…
At its core, the physics paradigm adopts a reductionist approach, aiming to understand fundamental phenomena by decomposing them into simpler, elementary processes. While this strategy has been tremendously successful in physics, it has…
Computer-based modelling and simulation have become useful tools to facilitate humans to understand systems in different domains, such as physics, astrophysics, chemistry, biology, economics, engineering and social science. A complex system…
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…
The reduction of dynamical systems has a rich history, with many important applications related to stability, control and verification. Reduction of nonlinear systems is typically performed in an exact manner - as is the case with…
The determination of environmentally- and economically-optimal energy system designs and operations is complex. In particular, the integration of weather-dependent renewable energy technologies into energy system optimization models…
Identifying and understanding modular organizations is centrally important in the study of complex systems. Several approaches to this problem have been advanced, many framed in information-theoretic terms. Our treatment starts from the…
A central feature of complex systems is the relevance and entanglement of different levels of description. For instance, the dynamics of ecosystems can be alternatively described in terms of large ecological processes and classes of…
The complexity of many biological, social and technological systems stems from the richness of the interactions among their units. Over the past decades, a great variety of complex systems has been successfully described as networks whose…
Presenting systems of differential equations in the form of diagrams has become common in certain parts of physics, especially electromagnetism and computational physics. In this work, we aim to put such use of diagrams on a firm…
A qualitatively new, much more liberal and efficient organisation of science is proposed and justified, in connection with growing debate about further role and development of fundamental science. Although the key ideas can be explained…
A common hope of many physics educators and researchers is that students leave the course with a stronger sense that physics is relevant to them than when they entered the course. Multiple survey measures have attempted to measure shifts in…
We provide a mechanistic foundation for economic complexity methods. In our model, an economy's ability to produce an activity depends on the joint presence of required capabilities. We analytically derive the Economic Complexity Index…
Complexity science offers a wide range of measures for quantifying unpredictability, structure, and information. Yet, a systematic conceptual organization of these measures is still missing. We present a unified framework that locates…
As the current thermo-industrial civilization expands, its technological and societal complexities increase. We suggest that physical power, economic activity and societal complexity are linked. A simple, intuitive model based on Systems…
In this paper an econophysics model for the currency exchange operations with commission is proposed. With this purpose some analogies and similarities of the processes that take place in the frame of the electrochemical system made from…
Empirical studies of graphs have contributed enormously to our understanding of complex systems. Known today as network science, what was originally a theoretical study of graphs has grown into a more scientific exploration of communities…