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Econophysics

Page history last edited by Bob-RJ Burkhart 13 years, 5 months ago

Return to: Five Regions of the Future ... Presponse Systems Thinking ... VIPanel ... Well Being Gap

 

Econophysics is an interdisciplinary research field,

applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics. Its application to the study of financial markets has also been termed statistical finance referring to its roots in statistical physics. Physicists’ interest in the social sciences is not new; Daniel Bernoulli, as an example, was the originator of utility-based preferences.

 

FutureScope | World Future Society

WORDBUZZ: Econophysics.
If economists can't predict economic crises and prevent their ensuing disruptions, maybe physicists can.  ...
beta.wfs.org/content/futurescope - Cached

FORECASTING

WORDBUZZ: Econophysics

 

If economists can’t predict economic crises and prevent their ensuing disruptions, maybe physicists can. In 2005, Didier Sornette—a physicist, earthquake scientist, and financial expert at the Swiss Technical Institute in Zurich—accurately predicted the bursting of the U.S. real estate bubble three years later.

 

The emerging field of econophysics relies on the study of complex systems, which looks at feedback loops and cascading effects. Forecasts do not rely on averages, as mainstream economists do, and take into account irrational decision making, herding behavior, and other destabilizing influences.

 

  1. September-October 2010 | World Future Society

    Mental-Health Benefits of Parks // The Well-Being Gap in America // Rise of Rwandan Women // Wordbuzz // Econophysics ...
    www.wfs.org/content/september-october-2010 - Cached
  2. The Futurist

    WORDBUZZ: Econophysics. If economists can't predict economic crises ...
    Order from World Future Society, www.wfs.org/wfsbooks.htm. ...
    www.wfs.org/index.php?q=book/export/html/765
  3. The Current Issue of THE FUTURIST

    Future Scope. Mental-Health Benefits of Parks.
    The Well-Being Gap in America. Rise of Rwandan Women. WORDBUZZ: Econophysics ...
    www.wfs.org/Upload/futuristtoc/ - Cached
  4. FUTURE SCOPE | Futurist, The | Find Articles at BNET

     - 1:53pm
    WORDBUZZ: Econophysics. If economists can't predict economic crises ...
    or futurism may be submitted to the managing editor at cwagner@wfs.org. ...
    findarticles.com/p/articles/mi_go2133/is_201009/ai_n55066566/ - Cached

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