Econophysics and economic complexity

author: Barkley Rosser, James Madison University
published: Sept. 26, 2008,   recorded: August 2008,   views: 11407
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What Is Econophysics (Via Wikipedia)

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. One of the founders of neoclassical economic theory, former Yale University Professor of Economics Irving Fisher, was originally trained under the renowned Yale physicist, Josiah Willard Gibbs.

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