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Economic Complexity (EC) methods have gained increasing popularity across fields and disciplines. In particular, the EC toolbox has proved particularly promising in the study of complex and interrelated phenomena, such as the transition…

We review an emerging body of work by physicists addressing questions of economic organization and function. We suggest that, beyond simply employing models familiar from physics to economic observables, remarkable regularities in economic…

物理与社会 · 物理学 2007-05-23 J. Doyne Farmer , Eric Smith , Martin Shubik

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…

综合金融 · 定量金融 2012-11-20 Dimitri O. Ledenyov , Viktor O. Ledenyov

A class of conserved models of wealth distributions are studied where wealth (or money) is assumed to be exchanged between a pair of agents in a population like the elastically colliding molecules of a gas exchanging energy. All sorts of…

物理与社会 · 物理学 2008-12-02 Abhijit Kar Gupta

A brief overview of the models and data analyses of income, wealth, consumption distributions by the physicists, are presented here. It has been found empirically that the distributions of income and wealth possess fairly robust features,…

综合金融 · 定量金融 2018-08-07 Kiran Sharma , Anirban Chakraborti

Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of…

物理与社会 · 物理学 2008-12-02 Yougui Wang , Ning Ding , Ning Xi

Econophysics, is based on the premise that some ideas and methods from physics can be applied to economic situations. We intend to show in this paper how a physics concept such as entropy can be applied to an economic problem. In so doing,…

统计金融 · 定量金融 2016-09-08 Adom Giffin

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…

计算金融 · 定量金融 2015-08-27 Carlos Pedro Gonçalves

We look at the meaning of 'relaxation' in the wealth exchange models that are recently proposed in Econophysics to interpret the wealth distributions. To quantify and characterise the process of relaxation, we define an appropriate quantity…

综合金融 · 定量金融 2008-12-02 Abhijit KarGupta

This article provides a selective review on the recent literature on econometric models of network formation. The survey starts with a brief exposition on basic concepts and tools for the statistical description of networks. I then offer a…

计量经济学 · 经济学 2020-01-14 Aureo de Paula

This article is a supplement to my main contribution to the Routledge Handbook of Complexity Economics (2023). On the basis of three recent papers, it presents an unconventional perspective on economic inequality from a statistical physics…

综合经济学 · 经济学 2023-07-06 Victor M. Yakovenko

Artificial intelligence models trained through loss minimization have demonstrated significant success, grounded in principles from fields like information theory and statistical physics. This work explores these established connections…

机器学习 · 计算机科学 2024-09-30 Akshay Balsubramani

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…

综合金融 · 定量金融 2009-04-07 Jean-Philippe Bouchaud

We review the possibilities and difficulties for statistical physicists if they apply their methods to biology, economics, or sociology.

统计力学 · 物理学 2016-08-31 Dietrich Stauffer

Some personal reflections on the past and future of "econophysics", to appear in Europhysics News

物理与社会 · 物理学 2019-03-27 Jean-Philippe Bouchaud

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…

物理与社会 · 物理学 2015-05-30 Chi Ho Yeung , David Saad

In line with the recent research and debates about econophysics and financial economics, this article discusses on usual misunderstandings between the two disciplines in terms of modelling and basic hypotheses. In the literature devoted to…

综合金融 · 定量金融 2017-08-25 Marcel Ausloos , Franck Jovanovic , Christophe Schinckus

The fluctuations in nonequilibrium systems are under intense theoretical and experimental investigation. Topical ``fluctuation relations'' describe symmetries of the statistical properties of certain observables, in a variety of models and…

统计力学 · 物理学 2011-09-08 Lamberto Rondoni , Carlos Mejia-Monasterio

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…

综合金融 · 定量金融 2013-10-17 M. E. Kahil

The last twenty-five years have seen the development of a significant literature within the subfield of econophysics which attempts to model economic inequality as an emergent property of stochastic interactions among ensembles of agents.…

统计力学 · 物理学 2023-09-25 Max Greenberg , H. Oliver Gao