Econophysics: Can physicists contribute to the science of economics?

H. E. Stanley; L. A N Amaral; D. Canning; P. Gopikrishnan; Y. Lee; Y. Liu

doi:10.1016/S0378-4371(99)00185-5

Econophysics: Can physicists contribute to the science of economics?

H. E. Stanley^*, L. A N Amaral, D. Canning, P. Gopikrishnan, Y. Lee, Y. Liu

^*Corresponding author for this work

Chemical and Biological Engineering

Research output: Contribution to journal › Conference article › peer-review

134 Scopus citations

Abstract

Econophysics is a new word used to described work being done by physicists in which financial and economic systems are treated as complex systems. Everyone is affected by economic fluctuations, and quantifying fluctuations is a topic that many physicists have contributed to in recent years. The methods and concepts developed in the study of strongly fluctuation systems might yield new results in economics. Two new empirical laws in studying fluctuations of economics is presented.

Original language	English (US)
Pages (from-to)	156-169
Number of pages	14
Journal	Physica A: Statistical Mechanics and its Applications
Volume	269
Issue number	1
DOIs	https://doi.org/10.1016/S0378-4371(99)00185-5
State	Published - Jul 1 1999
Event	Proceedings of the 1998 International Workshop on Econophysics and Statistical Finance - Palermo, Italy Duration: Sep 28 1998 → Sep 30 1998

ASJC Scopus subject areas

Statistics and Probability
Condensed Matter Physics

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title = "Econophysics: Can physicists contribute to the science of economics?",

abstract = "Econophysics is a new word used to described work being done by physicists in which financial and economic systems are treated as complex systems. Everyone is affected by economic fluctuations, and quantifying fluctuations is a topic that many physicists have contributed to in recent years. The methods and concepts developed in the study of strongly fluctuation systems might yield new results in economics. Two new empirical laws in studying fluctuations of economics is presented.",

author = "Stanley, {H. E.} and Amaral, {L. A N} and D. Canning and P. Gopikrishnan and Y. Lee and Y. Liu",

note = "Copyright: Copyright 2017 Elsevier B.V., All rights reserved.; Proceedings of the 1998 International Workshop on Econophysics and Statistical Finance ; Conference date: 28-09-1998 Through 30-09-1998",

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AU - Stanley, H. E.

AU - Amaral, L. A N

AU - Canning, D.

AU - Gopikrishnan, P.

AU - Lee, Y.

AU - Liu, Y.

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AB - Econophysics is a new word used to described work being done by physicists in which financial and economic systems are treated as complex systems. Everyone is affected by economic fluctuations, and quantifying fluctuations is a topic that many physicists have contributed to in recent years. The methods and concepts developed in the study of strongly fluctuation systems might yield new results in economics. Two new empirical laws in studying fluctuations of economics is presented.

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Econophysics: Can physicists contribute to the science of economics?

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