An Introduction to Econophysics
Subtitle: Correlations and Complexity in Finance
Publisher: Cambridge University Press
Published: November 1, 1999
Language: eng
Format: Hardcover
Number of pages: 158
ISBN-13: 9780521620086
Subjects: Investment & securities; Non-linear science; Mathematical Physics; Financial Economics (General); Science; Business / Economics / Finance; Statistical methods; Business/Economics; Statistical Physics; Mathematical models; Applied Sciences; Finance; Finance--Statistical methods; Science / Physics
First sentence: Since the 1970s, a series of significant changes has taken place in the world of finance.
Description: "This book concerns the use of concepts from statistical physics in the description of financial systems. Specifically, the authors illustrate the scaling concepts used in probability theory, in critical phenomena, and in fully developed turbulent fluids. These concepts are then applied to financial time series to gain new insights into the behavior of financial markets. The authors also present a new stochastic model that displays several of the statistical properties observed in empirical data." "This book is intended for students and researchers studying economics or physics at a graduate level and for professionals in the field of finance. Undergraduate students possessing some familiarity with probability theory or statistical physics should also be able to learn from the book."--Jacket.