Bøger i New Economic Windows serien

Complexity in Economics: Cutting Edge Research

Reviews the econophysics researches on the fluctuations in stock, forex and other markets. Including some historical perspectives as well as some comments and debates on issues in econophysics research, this book also discusses the statistical modeling of markets, using various agent-based game theoretical approaches, and their scaling analysis.

Econophysics research studies, which apply methods developed by physicists to solve problems in economics, enable you to deepen your understanding of what financial systems are and how they operate.

The primary goal of this book is to present the research findings and conclusions of physicists, economists, mathematicians and financial engineers working in the field of "Econophysics" who have undertaken agent-based modelling, comparison with empirical studies and related investigations.

Econophysics research studies, which apply methods developed by physicists to solve problems in economics, enable you to deepen your understanding of what financial systems are and how they operate.

This book presents the works and research findings of physicists, economists, mathematicians, statisticians, and financial engineers who have undertaken data-driven modelling of market dynamics and other empirical studies in the field of Econophysics.

for the destitutes), the population decreases either exponentially or in a log-normal way for the ma jority of 'middle income' group, and it eventually decreases following a power law (Pareto law, following Vilfredo Pareto's observation in 1896) for the rich est 5-10 % of the population!

"In some ways, the e?ect of achieving understanding is to reverse completely our initial attitude of mind. Anyone who has not yet seen why the side and the diagonal have no common unit regards this as quite extra- dinary. for nothing would so much ?abbergast a mathematician as if the diagonal and side of a square were to become commensurable".

In economics agents are assumed to choose on the basis of rational calculations aimed at the maximization of their pleasure or profit.

The primary goal of the book is to present the ideas and research findings of active researchers from various communities (physicists, economists, mathematicians, financial engineers) working in the field of "Econophysics", who have undertaken the task of modelling and analyzing order-driven markets.

for the destitutes), the population decreases either exponentially or in a log-normal way for the ma jority of 'middle income' group, and it eventually decreases following a power law (Pareto law, following Vilfredo Pareto's observation in 1896) for the rich est 5-10 % of the population!

A broader range of models would include agent-based models, which use computational power to deal with specification of models that are far beyond analytic solution; and non-linear dynamic stochastic models, many of which are beyond analytic solution, but whose nature can be discovered by a combination of analytics and computer simulations.

"In some ways, the e?ect of achieving understanding is to reverse completely our initial attitude of mind. Anyone who has not yet seen why the side and the diagonal have no common unit regards this as quite extra- dinary. for nothing would so much ?abbergast a mathematician as if the diagonal and side of a square were to become commensurable".

This book presents the work of researchers in physics, economics, mathematics and financial engineering who have undertaken the task of modeling and analyzing systemic risk, network dynamics and other topics.