Uncommon · Knowledge
Econophysics
Branch of heterodox economics that applies theories and methods originally developed by physicists to problems in economics
Econophysics is a transdisciplinary research field in heterodox economics. It applies theories and methods originally developed by physicists to problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics.
From Wikipedia
Econophysics is a transdisciplinary research field in heterodox economics. It applies theories and methods originally developed by physicists to problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics. Some of its application to the study of financial markets has also been termed statistical finance referring to its roots in statistical physics. Econophysics is closely related to social physics. The most well known econophysics model is the yard-sale model.
Text: Wikipédia, CC BY-SA 4.0. · Image: Kmhkmh (CC BY 4.0) ·
Related cards
-
★
Social physics
Field of science which uses mathematical tools inspired by physics to understand the behavior of human crowds
-
P★★
Positive economics
Branch of economics
-
E★
Economism
Ideology; term in Marxist discourse
-
★★
Real economy
A part of the whole economy concerning the flow of goods and services (like oil, bread and labor hours), contrasted with the monetary sector
-
★★★
Mathematical model
Description of a system using mathematical concepts and language
-
E★★
Economic law
Area of law on economic regulation