Related papers: Physics of Econophysics
The methods of statistical physics of open systems are used for describing the time dependence of economic characteristics (income, profit, cost, supply, currency etc.) and their correlations with each other. Nonlinear equations (analogies…
Physics and economics are two disciplines that share the common challenge of linking microscopic and macroscopic behaviors. However, while physics is based on collective dynamics, economics is based on individual choices. This conceptual…
We review the possibilities and difficulties for statistical physicists if they apply their methods to biology, economics, or sociology.
The relationship between micro-structure and macro-structure of complex systems using information geometry has been dealt by several authors. From this perspective, we are going to apply it as a geometrical structure connecting both…
In the last years new interdisciplinary approaches to economics and social science have been developed. A Thermodynamic approach to socio-economics has brought to a new interdisciplinary scientific field called econophysics. Why…
We believe that economists have much to learn from educational research practices and related pedagogical innovations in other disciplines, in particular physics education. In this paper we identify three key features of physics education…
Mnay models situated in the current research landscape of modelling and simulating social processes have roots in physics. This is visible in the name of specialties as Econophysics or Sociophysics. This chapter describes the history of…
In this paper we attempt to introduce an econophysics approach to evaluate some aspects of the risks in financial markets. For this purpose, the thermodynamical methods and statistical physics results about entropy and equilibrium states in…
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…
We trace the initiative by Professor Meghnad Saha to develop a (statistical) physics model of market economy and his search for the mechanism to constrain the entropy maximized width of the income distribution in a society such that the…
Some personal reflections on the past and future of "econophysics", to appear in Europhysics News
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…
Efficient networking has a substantial economic and societal impact in a broad range of areas including transportation systems, wired and wireless communications and a range of Internet applications. As transportation and communication…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics offers models of markets as complex systems, that try to comprehend macro-, system-wide states of the economy from the…
The purpose of this research article is to discover how the econophysics analysis can complement the econometrics models in application to the risk management in the central banks and financial institutions, operating within the nonlinear…
This paper uses a database of collaboration recording between Econophysics Scientists to study the community structure of this collaboration network, which with a single type of vertex and a type of undirected, weighted edge. Hierarchical…
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…
Since long back, scientists have been putting enormous effort to understand earthquake dynamics -the goal is to develop a successful prediction scheme which can provide reliable alarm that an earthquake is imminent. Model studies sometimes…
We discuss here researches on econophysics done from India in the last two decades. The term `econophysics' was formally coined in India (Kolkata) in 1995. Since then many research papers, books, reviews, etc. have been written by…
The climate system is a forced, dissipative, nonlinear, complex and heterogeneous system that is out of thermodynamic equilibrium. The system exhibits natural variability on many scales of motion, in time as well as space, and it is subject…