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Introduction to Econophysics : Correlations and Complexity in Finance

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Title: Introduction to Econophysics : Correlations and Complexity in Finance
Description: This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.
Authors: Rosario N. Mantegna, H. Eugene Stanley
Resource Type: eBook.
Subjects: Finance--Statistical methods, Finance--Mathematical models, Statistical physics
Categories: BUSINESS & ECONOMICS / Finance / General
Database: eBook Collection (EBSCOhost)
FullText Links:
  – Type: ebook-pdf
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  Availability: 0
Header DbId: nlebk
DbLabel: eBook Collection (EBSCOhost)
An: 112413
RelevancyScore: 966
AccessLevel: 6
PubType: eBook
PubTypeId: ebook
PreciseRelevancyScore: 965.702392578125
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  Data: Introduction to Econophysics : Correlations and Complexity in Finance
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  Label: Description
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  Data: This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.
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  Data: <searchLink fieldCode="DE" term="%22Finance--Statistical+methods%22">Finance--Statistical methods</searchLink><br /><searchLink fieldCode="DE" term="%22Finance--Mathematical+models%22">Finance--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Statistical+physics%22">Statistical physics</searchLink>
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      – Code: 332.015195
        Scheme: ddc
        Type: prePub
    Languages:
      – Code: eng
        Text: English
    Subjects:
      – SubjectFull: Finance--Statistical methods
        Type: general
      – SubjectFull: Finance--Mathematical models
        Type: general
      – SubjectFull: Statistical physics
        Type: general
    Titles:
      – TitleFull: Introduction to Econophysics : Correlations and Complexity in Finance
        Type: main
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      – PersonEntity:
          Name:
            NameFull: Rosario N. Mantegna
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            NameFull: H. Eugene Stanley
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            NameFull: Rosario N. Mantegna
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            NameFull: H. Eugene Stanley
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          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 2000
            – D: 04
              M: 02
              Type: profile
              Y: 2014
          Identifiers:
            – Type: isbn-print
              Value: 9780521620086
            – Type: isbn-electronic
              Value: 9780511039942
          Titles:
            – TitleFull: Introduction to Econophysics : Correlations and Complexity in Finance
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