Book Introduction to Econophysics

Introduction to Econophysics
By:Rosario N. Mantegna,H. Eugene Stanley
Published on 1999-11-13 by Cambridge University Press

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.

This Book was ranked at 29 by Google Books for keyword finance.

Book ID of Introduction to Econophysics's Books is SzgXWCS7Nr8C, Book which was written byRosario N. Mantegna,H. Eugene Stanleyhave ETAG "u1q9TQH7gaI"

Book which was published by Cambridge University Press since 1999-11-13 have ISBNs, ISBN 13 Code is 9781139431224 and ISBN 10 Code is 1139431226

Book which have " Pages" is Printed at BOOK under CategoryBusiness and Economics

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