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Econophysics
Econophysics is a Heterodox economics, heterodox interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and Chaos theory, nonlinear dynamics. Some of its application to the study of financial markets has also been termed statistical finance referring to its roots in statistical physics. Econophysics is closely related to social physics. History Physicists' interest in the social sciences is not new (see e.g.,); Daniel Bernoulli, as an example, was the originator of utility-based preferences. One of the founders of neoclassical economic theory, former Yale University Professor of Economics Irving Fisher, was originally trained under the renowned Yale physicist, Josiah Willard Gibbs. Likewise, Jan Tinbergen, who won the first Nobel Memorial Prize in Economic Sciences in 1969 for having developed and applied dynamic models for the analysis of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistical Finance
Statistical finance, is the application of econophysics to financial markets. Instead of the normative roots of finance, it uses a positivist framework. It includes exemplars from statistical physics with an emphasis on emergent or collective properties of financial markets. Empirically observed stylized facts are the starting point for this approach to understanding financial markets. Stylized facts # Stock markets are characterised by bursts of price volatility. # Price changes are less volatile in bull markets and more volatile in bear markets. # Price change correlations are stronger with higher volatility, and their auto-correlations die out quickly. # Almost all real data have more extreme events than suspected. # Volatility correlations decay slowly. # Trading volumes have memory the same way that volatilities do. # Past price changes are negatively correlated with future volatilities. Research objectives Statistical finance is focused on three areas: # Empirical stud ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Physics
Social physics or sociophysics is a field of science which uses mathematical tools inspired by physics to understand the behavior of human crowds. In a modern commercial use, it can also refer to the analysis of social phenomena with big data. Social physics is closely related to econophysics which uses physics methods to describe economics. History The earliest mentions of a concept of social physics began with the English philosopher Thomas Hobbes. In 1636 he traveled to Florence, Italy, and met physicist-astronomer Galileo Galilei, known for his contributions to the study of motion. It was here that Hobbes began to outline the idea of representing the "physical phenomena" of society in terms of the laws of motion. In his treatise ''De Corpore'', Hobbes sought to relate the movement of "material bodies" to the mathematical terms of motion outlined by Galileo and similar scientists of the time period. Although there was no explicit mention of "social physics", the sentiment of exam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Santa Fe Institute
The Santa Fe Institute (SFI) is an independent, nonprofit theoretical research institute located in Santa Fe, New Mexico, United States and dedicated to the multidisciplinary study of the fundamental principles of complex adaptive systems, including physical, computational, biological, and social systems. The institute is ranked 24th among the world's "Top Science and Technology Think Tanks" and 24th among the world's "Best Transdisciplinary Research Think Tanks" according to the 2020 edition of the ''Global Go To Think Tank Index Reports'', published annually by the University of Pennsylvania. The institute consists of a small number of resident faculty and postdoctoral researchers, a large group of external faculty whose primary appointments are at other institutions, and a number of visiting scholars. The institute is advised by a group of eminent scholars, including several Nobel Prize-winning scientists. Although theoretical scientific research is the institute's primary focu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chaos Theory
Chaos theory is an interdisciplinary area of scientific study and branch of mathematics focused on underlying patterns and deterministic laws of dynamical systems that are highly sensitive to initial conditions, and were once thought to have completely random states of disorder and irregularities. Chaos theory states that within the apparent randomness of chaotic complex systems, there are underlying patterns, interconnection, constant feedback loops, repetition, self-similarity, fractals, and self-organization. The butterfly effect, an underlying principle of chaos, describes how a small change in one state of a deterministic nonlinear system can result in large differences in a later state (meaning that there is sensitive dependence on initial conditions). A metaphor for this behavior is that a butterfly flapping its wings in Brazil can cause a tornado in Texas. Small differences in initial conditions, such as those due to errors in measurements or due to rounding errors i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
János Kertész
János Kertész is a Hungarian physicist. He is one of the pioneers of econophysics, complex networks and application of fractal geometry in physical problems. He is the director of the Institute of Physics in Budapest University of Technology and Economics, Budapest, Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia a .... References External links Personal Homepage {{DEFAULTSORT:Kertesz, Janos 21st-century Hungarian physicists Living people Year of birth missing (living people) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heterodox Economics
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition, v. 4, pp. 2–65 Abstract. These include institutional, evolutionary, feminist, social, post-Keynesian (not to be confused with New Keynesian), ecological, Austrian, complexity, Marxian, socialist, and anarchist economics. Economics may be called ''orthodox'' or ''conventional'' economics by its critics.C. Barry, 1998. ''Political-economy: A comparative approach''. Westport, CT: Praeger. Alternatively, mainstream economics deals with the "rationality–individualism–equilibrium nexus" and heterodox economics is more "radical" in dealing with the "institutions–history–social structure nexus". A 2008 review documented several prominent groups of heterodox economists since at least the 1990s as working together with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kolkata
Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, commercial, and financial hub of Eastern India and the main port of communication for North-East India. According to the 2011 Indian census, Kolkata is the seventh-most populous city in India, with a population of 45 lakh (4.5 million) residents within the city limits, and a population of over 1.41 crore (14.1 million) residents in the Kolkata Metropolitan Area. It is the third-most populous metropolitan area in India. In 2021, the Kolkata metropolitan area crossed 1.5 crore (15 million) registered voters. The Port of Kolkata is India's oldest operating port and its sole major riverine port. Kolkata is regarded as the cultural capital of India. Kolkata is the second largest Bengali-speaking city after Dhaka ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Calcutta
Kolkata (, or , ; also known as Calcutta , List of renamed places in India#West Bengal, the official name until 2001) is the Capital city, capital of the Indian States and union territories of India, state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, commercial, and financial hub of East India, Eastern India and the main port of communication for North-East India. According to the 2011 Indian census, Kolkata is the List of cities in India by population, seventh-most populous city in India, with a population of 45 lakh (4.5 million) residents within the city limits, and a population of over 1.41 crore (14.1 million) residents in the Kolkata metropolitan area, Kolkata Metropolitan Area. It is the List of metropolitan areas in India, third-most populous metropolitan area in India. In 2021, the Kolkata metropolitan area crossed 1.5 crore (15 million) registered voters. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Physica A
* Physica (journal), ''Physica'' (journal), a Dutch scientific journal
:* Physica (journal)#Physica A, ''Physica A''
:* Physica (journal)#Physica B, ''Physica B''
;* Physica (journal)#Physica C, ''Physica C''
:* Physica (journal)#Physica D, ''Physica D''
:* Physica (journal)#Physica E, ''Physica E''
* ''Physica Scripta'', an international scientific journal for experimental and theoretical physics
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Physica may refer to: * Physics (Aristotle) The ''Physics'' (Ancient Greek, Greek: Φυσικὴ ἀκρόασις ''Phusike akroasis''; Latin: ''Physica'', or ''Naturales Auscultationes'', possibly meaning "Natural philosophy, lectures on nature") is a named text, written in ancient G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moshé Machover
Moshé Machover ( he, משה מחובר; born 1936) is a mathematician, philosopher, and socialist activist, noted for his writings against Zionism. Born to a Jewish family in Tel Aviv, then part of the British Mandate of Palestine, Machover moved to Britain in 1968 where he became a naturalised citizen. He was a founder of Matzpen, the Israeli Socialist Organisation, in 1962. Career Machover has written extensively on the conflict in the Middle East. In 1961, while still members of the Israeli Communist Party, Machover and Akiva Orr, under the pseudonym 'A Israeli', wrote the anti-Zionist analysis of the Arab-Israeli conflict ''Shalom, Shalom ve'ein Shalom'' ( he, שלום, שלום, ואין שלום; "Peace, Peace, and there is no Peace"). The intention of the book was to explain, from publicly available sources, why in 1956 " Ben-Gurion preferred to invade Egypt, alongside France and Britain, rather than to make peace with Egypt".Moshé Machover and Akiva Orr, "Foreword after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Network Science
Network science is an academic field which studies complex networks such as telecommunication networks, computer networks, biological networks, cognitive and semantic networks, and social networks, considering distinct elements or actors represented by ''nodes'' (or ''vertices'') and the connections between the elements or actors as ''links'' (or ''edges''). The field draws on theories and methods including graph theory from mathematics, statistical mechanics from physics, data mining and information visualization from computer science, inferential modeling from statistics, and social structure from sociology. The United States National Research Council defines network science as "the study of network representations of physical, biological, and social phenomena leading to predictive models of these phenomena." Background and history The study of networks has emerged in diverse disciplines as a means of analyzing complex relational data. The earliest known paper in this f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
