Econophysics and Physical Economics
Peter Richmond
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Description for Econophysics and Physical Economics
Hardback. This book summarises progress in the understanding of financial markets and economics based on the established methodology of statistical physics. It offers a new approach to the fundamentals of economics that offers the potential for increased insight and understanding. It should be of interest to all serious students of the subject. Num Pages: 272 pages, 111 b/w illustrations. BIC Classification: KCA; PHV. Category: (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 251 x 181 x 19. Weight in Grams: 712.
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 ... Read more
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 ... Read more
Product Details
Publisher
Oxford University Press
Number of pages
272
Format
Hardback
Publication date
2013
Condition
New
Weight
712g
Number of Pages
258
Place of Publication
Oxford, United Kingdom
ISBN
9780199674701
SKU
V9780199674701
Shipping Time
Usually ships in 4 to 8 working days
Ref
99-2
About Peter Richmond
Peter Richmond studied physics at Queen Mary College, University of London. His career included periods in academia including the Institute of Advanced Studies, ANU Canberra, and the Physics Laboratories, University of Kent. Most recently, in particular during the period spanning the volatile financial era from 1997-2007 and the great housing crash, he was with the School of Physics, Trinity College ... Read more
Reviews for Econophysics and Physical Economics
We argue that similarlaws apply to assemblies of interacting economic agents for which repeatable experiments are also not always possible. The theory leads naturally to an understanding of a range of financial and economic phenomena. One central issue, namely that of non-equilibrium, is also discussed by drawing on recent ideas developed to explore the phenomenon in physical systems, which leads ... Read more