Related papers: 'Ergodicity Economics' is Pseudoscience
Packing peanuts, as defined by Wikipedia, is a common loose-fill packaging and cushioning material that helps prevent damage to fragile items. In this paper, I propose that synthetic data, akin to packing peanuts, can serve as a valuable…
Despite all our great advances in science, technology and financial innovations, many societies today are struggling with a financial, economic and public spending crisis, over-regulation, and mass unemployment, as well as lack of…
The most important problems for society are describable only in vague terms, dependent on subjective positions, and missing highly relevant data. This thesis is intended to revive and further develop the view that giving non-trivial,…
Naturalness is an extra-empirical quality that aims to assess plausibility of a theory. Finetuning measures are often deputized to quantify the task. However, knowing statistical distributions on parameters appears necessary. Such…
The business cycles are generated by the oscillating macro-/micro-/nano- economic output variables in the economy of the scale and the scope in the amplitude/frequency/phase/time domains in the economics. The accurate forward looking…
Econophysics is a science in its infancy, born about ten years ago at this time of writing, at the crossing roads of physics, mathematics, computing and of course economics and finance. It also covers human sciences, because all economics…
Reliability has long been treated as an engineering practice supported by testing, statistics and standards, yet its status as a scientific discipline remains unsettled. From a philosophical perspective, scientific truth is characterized by…
Standard economic theory uses mathematics as its main means of understanding, and this brings clarity of reasoning and logical power. But there is a drawback: algebraic mathematics restricts economic modeling to what can be expressed only…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics is offering models of markets as complex systems, such as the gas-like model, able to predict money distributions…
Standard economic theory assumes that agents in markets behave rationally. However, the observation of extremely large fluctuations in the price of financial assets that are not correlated to changes in their fundamental value, as well as…
Criticisms of so called `subjective probability' come on the one hand from those who maintain that probability in physics has only a frequentistic interpretation, and, on the other, from those who tend to `objectivise' Bayesian theory,…
Econophysics is a new research field, which makes an attempt to bring economics in the fold of natural sciences or specifically attempts for a "physics of economics". The term Econophysics was formally born in Kolkata in 1995. The entry on…
We briefly review some of the scientific challenges and epistemological issues related to climate science. We discuss the formulation and testing of theories and numerical models, which, given the presence of unavoidable uncertainties in…
The main points of the first section of the article written by S.I. Chernyshov, A.V. Voronin and S.A. Razumovsky arXiv:1003.4382), which deals with the fundamental bases of the macroeconomic theory, have been analyzed. An incorrectness of…
This paper advocates the usefulness of new theories of uncertainty for the purpose of modeling some facets of uncertain knowledge, especially vagueness, in AI. It can be viewed as a partial reply to Cheeseman's (among others) defense of…
The proliferation of probable prime tests in recent years has produced a plethora of definitions with the word ``pseudoprime'' in them. Examples include pseudoprimes, Euler pseudoprimes, strong pseudoprimes, Lucas pseudoprimes, strong Lucas…
The concept of informal mathematical proof considered in intuitionism is apparently vulnerable to a version of the liar paradox. However, a careful reevaluation of this concept reveals a subtle error whose correction blocks the…
We show that G\"odel's negative results concerning arithmetic, which date back to the 1930s, and the ancient "sand pile" paradox (known also as "sorites paradox") pose the questions of the use of fuzzy sets and of the effect of a measuring…
The 'Discussion & Debate' issue of this Euro. Phys. J. Special Topic volume is: 'Can economics be a Physical Science?' I would rather address a more general question: 'Can economics or sociology avoid joining Natural Science?' and argue…
We consider a simple model of rational agents competing in a single product market described by simple linear demand curve. Contrary to accepted economic theory, the agents' production levels synchronise in the absence of conscious…