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Introduction to Econophysics

By Mantegna, Rosario N.

Product Image: Introduction to Econophysics

Introduction to Econophysics

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Description
This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.
Product details
Edition:
1
Number of Pages:
162
Release Date:
1999-11-01
Publication Date:
2010-09-21
Publisher:
Cambridge University Press
Languages:
Original: English
ISBN10:
0521620082
ISBN13:
9780521620086
Weight:
512 g
Height:
183 cm
Width:
260 cm
Thickness:
14 cm
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Very good
Almost no signs of wear. Book pages have no markings, accessories are intact and all other media are in good condition.
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