Econophysics Approaches To Large Scale Business Data And Financial Crisis
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Econophysics Approaches To Large Scale Business Data And Financial Crisis
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Author : Misako Takayasu
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-04-27
Econophysics Approaches To Large Scale Business Data And Financial Crisis written by Misako Takayasu and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-27 with Science categories.
In recent years, as part of the increasing “informationization” of industry and the economy, enterprises have been accumulating vast amounts of detailed data such as high-frequency transaction data in nancial markets and point-of-sale information onindividualitems in theretail sector. Similarly,vast amountsof data arenow ava- able on business networks based on inter rm transactions and shareholdings. In the past, these types of information were studied only by economists and management scholars. More recently, however, researchers from other elds, such as physics, mathematics, and information sciences, have become interested in this kind of data and, based on novel empirical approaches to searching for regularities and “laws” akin to those in the natural sciences, have produced intriguing results. This book is the proceedings of the international conference THICCAPFA7 that was titled “New Approaches to the Analysis of Large-Scale Business and E- nomic Data,” held in Tokyo, March 1–5, 2009. The letters THIC denote the Tokyo Tech (Tokyo Institute of Technology)–Hitotsubashi Interdisciplinary Conference. The conference series, titled APFA (Applications of Physics in Financial Analysis), focuses on the analysis of large-scale economic data. It has traditionally brought physicists and economists together to exchange viewpoints and experience (APFA1 in Dublin 1999, APFA2 in Liege ` 2000, APFA3 in London 2001, APFA4 in Warsaw 2003, APFA5 in Torino 2006, and APFA6 in Lisbon 2007). The aim of the conf- ence is to establish fundamental analytical techniques and data collection methods, taking into account the results from a variety of academic disciplines.
Econophysics Approaches To Large Scale Business Data And Financial Crisis
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Author : Misako Takayasu
language : en
Publisher:
Release Date : 2010-11-20
Econophysics Approaches To Large Scale Business Data And Financial Crisis written by Misako Takayasu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-20 with categories.
Econophysics And Physical Economics
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Author : Peter Richmond
language : en
Publisher: OUP Oxford
Release Date : 2013-09-05
Econophysics And Physical Economics written by Peter Richmond and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-05 with Mathematics categories.
An understanding of the behaviour of financial assets and the evolution of economies has never been as important as today. This book looks at these complex systems from the perspective of the physicist. So called 'econophysics' and its application to finance has made great strides in recent years. Less emphasis has been placed on the broader subject of macroeconomics and many economics students are still taught traditional neo-classical economics. The reader is given a general primer in statistical physics, probability theory, and use of correlation functions. Much of the mathematics that is developed is frequently no longer included in undergraduate physics courses. The statistical physics of Boltzmann and Gibbs is one of the oldest disciplines within physics and it can be argued that it was first applied to ensembles of molecules as opposed to being applied to social agents only by way of historical accident. The authors argue by analogy that the theory can be applied directly to economic systems comprising assemblies of interacting agents. The necessary tools and mathematics are developed in a clear and concise manner. The body of work, now termed econophysics, is then developed. The authors show where traditional methods break down and show how the probability distributions and correlation functions can be properly understood using high frequency data. Recent work by the physics community on risk and market crashes are discussed together with new work on betting markets as well as studies of speculative peaks that occur in housing markets. The second half of the book continues the empirical approach showing how by analogy with thermodynamics, a self-consistent attack can be made on macroeconomics. This leads naturally to economic production functions being equated to entropy functions - a new concept for economists. Issues relating to non-equilibrium naturally arise during the development and application of this approach to economics. These are discussed in the context of superstatistics and adiabatic processes. As a result it does seem ultimately possible to reconcile the approach with non-equilibrium systems, and the ideas are applied to study income and wealth distributions, which with their power law distribution functions have puzzled many researchers ever since Pareto discovered them over 100 years ago. This book takes a pedagogical approach to these topics and is aimed at final year undergraduate and beginning gradaute or post-graduate students in physics, economics, and business. However, the experienced researcher and quant should also find much of interest.
Econophysics And Financial Economics
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Author : Franck Jovanovic
language : en
Publisher: Oxford University Press
Release Date : 2017
Econophysics And Financial Economics written by Franck Jovanovic and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.
This work provides an extensive analytic comparison between models and results from econophysics and financial economics in an accessible and common vocabulary. Unlike other publications dedicated to econophysics, it situates this field in the evolution of financial economics by laying the foundations for common theoretical framework and models.
Essentials Of Econophysics Modelling
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Author : Frantisek Slanina
language : en
Publisher: Oxford University Press
Release Date : 2013-12
Essentials Of Econophysics Modelling written by Frantisek Slanina and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12 with Business & Economics categories.
This book is a course in methods and models rooted in physics and used in modelling economic and social phenomena. It covers the discipline of econophysics, which creates an interface between physics and economics. Besides the main theme, it touches on the theory of complex networks and simulations of social phenomena in general. After a brief historical introduction, the book starts with a list of basic empirical data and proceeds to thorough investigation of mathematical and computer models. Many of the models are based on hypotheses of the behaviour of simplified agents. These comprise strategic thinking, imitation, herding, and the gem of econophysics, the so-called minority game. At the same time, many other models view the economic processes as interactions of inanimate particles. Here, the methods of physics are especially useful. Examples of systems modelled in such a way include books of stock-market orders, and redistribution of wealth among individuals. Network effects are investigated in the interaction of economic agents. The book also describes how to model phenomena like cooperation and emergence of consensus. The book will be of benefit to graduate students and researchers in both Physics and Economics.
The Story Of Econophysics
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Author : Kishore Chandra Dash
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2019-08-22
The Story Of Econophysics written by Kishore Chandra Dash and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-22 with Business & Economics categories.
This book will appeal to the lay-reader with an interest in the history of what is today termed ‘Econophysics’, looking at various works throughout the ages that have led to the emergence of this field. It begins with a discussion of the philosophers and scientists who have contributed to this discipline, before moving on to considering the contributions of different institutions, books, journals and conferences in nurturing the subject.
The Last Three Stock Market Crashes Can Boom And Bust Be Predicted
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Author : Arthur Ritter
language : en
Publisher: GRIN Verlag
Release Date : 2015-02-10
The Last Three Stock Market Crashes Can Boom And Bust Be Predicted written by Arthur Ritter and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-10 with Business & Economics categories.
Essay from the year 2014 in the subject Business economics - Investment and Finance, grade: 15,0, University of St Andrews (School of Management), course: Corporate Finace, language: English, abstract: Stock market crashes had occurred in the financial market since the very beginning and in every generation. “Greed, hubris and systemic fluctuations have given us the Tulip Mania, the South Sea bubble, the land booms in the 1920s and 1980s, the U.S. stock market and great crash in 1929, the October 1987 crash, to name just a few of the hundreds of ready examples“. This essay will compare and contrast the last three major stock market crashes in 1987, 2000 and 2007. To do this, the essay will pay special emphasis on the causes of the three crashes. From there the essay will draw out the similarities and differences and will answer the question if boom and bust can be predicted.
Econophysics Of Agent Based Models
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Author : Frédéric Abergel
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-09-07
Econophysics Of Agent Based Models written by Frédéric Abergel and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-07 with Science categories.
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. Most standard economic models assume the existence of the representative agent, who is “perfectly rational” and applies the utility maximization principle when taking action. One reason for this is the desire to keep models mathematically tractable: no tools are available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories of traditional economics involving the representative agent. This book is based on the Econophys-Kolkata VII Workshop, at which many such modelling efforts were presented. In the book, leading researchers in their fields report on their latest work, consider recent developments and review the contemporary literature.
Applied Data Centric Social Sciences
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Author : Aki-Hiro Sato
language : en
Publisher: Springer
Release Date : 2014-07-29
Applied Data Centric Social Sciences written by Aki-Hiro Sato and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-29 with Mathematics categories.
Applied data-centric social sciences aim to develop both methodology and practical applications of various fields of social sciences and businesses with rich data. Specifically, in the social sciences, a vast amount of data on human activities may be useful for understanding collective human nature. In this book, the author introduces several mathematical techniques for handling a huge volume of data and analysing collective human behaviour. The book is constructed from data-oriented investigation, with mathematical methods and expressions used for dealing with data for several specific problems. The fundamental philosophy underlying the book is that both mathematical and physical concepts are determined by the purposes of data analysis. This philosophy is shown throughout exemplar studies of several fields in socio-economic systems. From a data-centric point of view, the author proposes a concept that may change people’s minds and cause them to start thinking from the basis of data. Several goals underlie the chapters of the book. The first is to describe mathematical and statistical methods for data analysis, and toward that end the author delineates methods with actual data in each chapter. The second is to find a cyber-physical link between data and data-generating mechanisms, as data are always provided by some kind of data-generating process in the real world. The third goal is to provide an impetus for the concepts and methodology set forth in this book to be applied to socio-economic systems.
Executive Compensation In Imperfect Financial Markets
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Author : Jay Cullen
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-10-23
Executive Compensation In Imperfect Financial Markets written by Jay Cullen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-23 with Law categories.
This important book discusses the issue of executive compensation in Anglo-American financial markets following the financial crisis. The book begins by contextualizing the problem facing financial institutions in the US and the UK and argues that appr