Econophysics and Sociophysics: Recent Progress and Future DirectionsFrédéric Abergel, Hideaki Aoyama, Bikas K. Chakrabarti, Anirban Chakraborti, Nivedita Deo, Dhruv Raina, Irena Vodenska Springer, 11. jaan 2017 - 256 pages This book presents the proceedings from ECONOPHYS-2015, an international workshop held in New Delhi, India, on the interrelated fields of “econophysics” and “sociophysics”, which have emerged from the application of statistical physics to economics and sociology. Leading researchers from varied communities, including economists, sociologists, financial analysts, mathematicians, physicists, statisticians, and others, report on their recent work, discuss topical issues, and review the relevant contemporary literature. A society can be described as a group of people who inhabit the same geographical or social territory and are mutually involved through their shared participation in different aspects of life. It is possible to observe and characterize average behaviors of members of a society, an example being voting behavior. Moreover, the dynamic nature of interaction within any economic sector comprising numerous cooperatively interacting agents has many features in common with the interacting systems of statistical physics. It is on these bases that interest has grown in the application within sociology and economics of the tools of statistical mechanics. This book will be of value for all with an interest in this flourishing field. |
Contents
| 3 | |
2 Option Pricing and Hedging with Liquidity Costs and Market Impact | 18 |
3 Dynamic Portfolio Credit Risk and Large Deviations | 41 |
4 Extreme Eigenvector Analysis of Global Financial Correlation Matrices | 59 |
5 Network Theory in Macroeconomics and Finance | 71 |
Analysis at the Regional Level | 84 |
7 Record Statistics of Equities and Market Indices | 103 |
8 Information Asymmetry and the Performance of Agents Competing for Limited Resources | 113 |
A Comparison of Different Approaches | 147 |
12 The Microscopic Origin of the Pareto Law and Other PowerLaw Distributions | 159 |
13 The ManyAgent Limit of the Extreme IntrovertExtrovert Model | 177 |
Understanding Human Sociality in Communication Networks | 186 |
A Comparison | 201 |
Disentangling Size Asymmetry and Volatility | 217 |
The Case of Mazatec | 227 |
Part III Epilogue | 252 |
Some Further Research Directions | 124 |
10 ReactionDiffusion Equations with Applications to Economic Systems | 131 |
Part II Sociophysics | 145 |
18 Epilogue | 253 |
