Related papers: Econophysics deserves a revamping
The consensus that complexity begets stability in ecosystems was challenged in the seventies, a result recently extended to ecologically-inspired networks. The approaches assume the existence of a feasible equilibrium, i.e. with positive…
The evolution of complexity has been a central theme for Biology and Artificial Life (Bonner, 1988; Bedau et al., 2000). Complexification has been interpreted in different ways: as a process of diversification between evolving units…
Understanding realistic complex systems requires confronting significant conceptual, theoretical and experimental limitations rooted in the persistence of views that originated in the mechanics of simple moving bodies. We define the…
As the diversity of people in higher education grows, Universities are struggling to provide inclusive environments that nurture the spirit of free inquiry in the presence of these differences. At the extreme, the value of diversity is…
Economic complexity reflects the amount of knowledge that is embedded in the productive structure of an economy. It resides on the premise of hidden capabilities - fundamental endowments underlying the productive structure. In general,…
The reliable prediction of the temporal behavior of complex systems is key in numerous scientific fields. This strong interest is however hindered by modeling issues: often, the governing equations describing the physics of the system under…
Prediction of events is the challenge in many different disciplines, from meteorology to finance; the more this task is difficult, the more a system is {\it complex}. Nevertheless, even according to this restricted definition, a general…
The paper present one of attempts to apply the thermodynamics laws to economics. Introducing common thermodynamic parameters and considering world economics as a one macrosystem, authors demonstrate the possible consequences of entropy…
There is no single definition of complexity (Edmonds 1999; Gershenson 2008; Mitchell 2009; De Domenico, et al., 2019), as it acquires different meanings in different contexts. A general notion is the amount of information required to…
Several approaches and corresponding definitions of complexity have been developed in different fields. Urban systems are the archetype of complex socio-technical systems concerned with these different viewpoints. We suggest in this chapter…
We propose to examine the predictability and the complexity characteristics of the Standard&Poor500 dynamics behaviors in a coarse-grained way using the symbolic dynamics method and under the prism of the Information theory through the…
While compactness is an essential assumption for many results in dynamical systems theory, for many applications the state space is only locally compact. Here we provide a general theory for compactifying such systems, i.e. embedding them…
Some personal reflections on the past and future of "econophysics", to appear in Europhysics News
Scientists often use observational time series data to study complex natural processes, but regression analyses often assume simplistic dynamics. Recent advances in deep learning have yielded startling improvements to the performance of…
Understanding the dynamical behavior of complex systems is of exceptional relevance in everyday life, from biology to economy. In order to describe the dynamical organization of complex systems, existing methods require the knowledge of the…
Adaptivity is a dynamical feature that is omnipresent in nature, socio-economics, and technology. For example, adaptive couplings appear in various real-world systems like the power grid, social, and neural networks, and they form the…
The mechanics of the structured particles develops. The substantiation of applicability of such mechanics for the description of processes of evolution in open nonequilibrium systems is offered. The consequences following from the equations…
Econophysics has developed as a research field that applies the formalism of Statistical Mechanics and Quantum Mechanics to address Economics and Finance problems. The branch of Econophysics that applies of Quantum Theory to Economics and…
A specific theoretical framework is important for designing and conducting an experiment, and for interpretation of its results. The field of gravitational physics is expanding, and more clarity is needed. It appears that some popular…
There has been an increasing recognition of the value of data and of data-based decision making. As a consequence, the development of data science as a field of study has intensified in recent years. However, there is no systematic and…