Related papers: Physics of Econophysics
This paper attempts to analyze central place theory of spatial economics based on supply and demand theory in microeconomics and field theory in physics, and also discuss their relationship. Three most important research findings are…
A financial market is a system resulting from the complex interaction between participants in a closed economy. We propose a minimal microscopic model of the financial market economy based on the real economy's symmetry constraint and…
Experiment plays a decisive role in physics. It is the single source of our understanding of nature. But, during the last century the main accent in theoretical physics has moved toward metaphysics. Some mathematicians/theoreticians try to…
Differentiable physics provides a new approach for modeling and understanding the physical systems by pairing the new technology of differentiable programming with classical numerical methods for physical simulation. We survey the rapidly…
The econophysics approach to socio-economic systems is based on the assumption of their complexity. Such assumption inevitably lead to another assumption, namely that underlying interconnections within socio-economic systems, particularly…
I give an overview of the topic of this special issue, the applications of (statistical) physics to social sciences at large. I discuss several examples of simple social models put forward by physicists and discuss their interest. I argue…
Entropic dynamics, a program that aims at deriving the laws of physics from standard probabilistic and entropic rules for processing information, is developed further. We calculate the probability for an arbitrary path followed by a system…
Many problems in industry --- and in the social, natural, information, and medical sciences --- involve discrete data and benefit from approaches from subjects such as network science, information theory, optimization, probability, and…
As the amount of economic and other data generated worldwide increases vastly, a challenge for future generations of econometricians will be to master efficient algorithms for inference in empirical models with large information sets. This…
Economics does not need a scientific revolution. Economics needs accurate measurements according to high standards of natural sciences and meticulous work on revealing empirical relationships between measured variables.
Seismology has several features that suggest it is a highly internationalized field: the subject matter is global, the tools used to analyse seismic waves are dependent upon information technologies, and governments are interested in…
Modern physics has demonstrated that matter behaves very differently as it approaches the speed of light. This paper explores the implications of modern physics to the operation and regulation of financial markets. Information cannot move…
Within the continuous endeavour of improving the efficiency and resilience of air transport, the trend of using concepts and metrics from statistical physics has recently gained momentum. This scientific discipline, which integrates…
This article is a follow-up of a short essay that appeared in Nature 455, 1181 (2008) [arXiv:0810.5306]. It has become increasingly clear that the erratic dynamics of markets is mostly endogenous and not due to the rational processing of…
An intriguing link between a wide range of problems occurring in physics and financial engineering is presented. These problems include the evolution of small perturbations of linear flows in hydrodynamics, the movements of particles in…
These lecture notes introduce some topics of classical statistical physics, particularly those that are relevant for neural networks and deep learning. Statistical physics is treated as a branch of probability theory or statistics, with the…
The aim of this paper is to reemphasize the money theory of exchange which is centered on the function of exchange medium of money, and make a contribution towards linearization of the quantity equation of exchange. A dynamical quantity…
This textbook is an introduction to economic networks, intended for students and researchers in the fields of economics and applied mathematics. The textbook emphasizes quantitative modeling, with the main underlying tools being graph…
As energy markets begin clearing at sub-hourly rates, their interaction with load control systems becomes a potentially important consideration. A simple model for the control of thermal systems using market-based power distribution…
The status in electroweak precision physics is reviewed. I present a brief summary of the latest data, global fit results, a few implications for new physics, and an outlook.