Statistical Physics and Economics: Concepts, Tools, and Applications

ISBN-13: 9781441918123 / Angielski / Miękka / 2011 / 246 str.

Michael Schulz

Opis

Econophysics describes phenomena in the development and dynamics of economic systems by using of a physicMly motivated methodology. First of all, Mandelbrot had analyzed economic and social relations in terms of modern statistical physics. Since then, the number of publications related to this topic has increased irresistible greatly. To be fair to this historical evolution, I point out, however, that physical and economic concepts had already been connected long ago. Terms such as work, power, and efficiency factor have similar physical and economic meanings. Many physical discoveries for instance in thermodynamics, optics, solid state physics, or chemical physics correspond to a parallel evolution in the fields of technology and economics. The term econophysics, or social physics, also is not a recent idea. For ex ample, in the small book Sozialphysik published in 1925 221], R. Lmmel demonstrates how social and economic problems can be understood by applying simple physical relations. Of course, the content of early social physics and the topics of modern econophysics are widely different. Nevertheless, the basic idea (i.e., the description and the explanation of economic phenomena in terms of a physical theory) did not change over the whole time. At this point, an important warning should be pronounced.

Spis treści

Economy and Complex Systems - Evolution and Probabilistic Concepts - Financial Markets - Economic Systems - Computer Simulations - Forecasting - References - Index

O autorze

Michael Schulz, geb. 1959 in Staßfurt, studierte Physik an der Technischen Hochschule Merseburg, wo er 1987 promovierte. Von 1987-89 arbeitete er zunächst als Wissenschaftler an der TH Merseburg, später an der SUNY in Albany. Nach einigen Jahren als Privatdozent an der Martin Luther Universität Halle-Wittenberg war er ab 1996 als Heisenberg-Stipendiat an mehreren Forschungsinstituten tätig und ist momentan Hochschuldozent an der Universität Ulm. Sein Forschungsgebiet ist die Statistische Physik kondensierter Materie und die Dynamik komplexer Systeme im Nichtgleichgewicht.