New Perspectives and Challenges in Econophysics and Sociophysics

✍ Scribed by Frédéric Abergel, Bikas K. Chakrabarti, Anirban Chakraborti, Nivedita Deo, Kiran Sharma

• Publisher: Springer International Publishing
• Year: 2019
• Tongue: English
• Leaves: 269
• Series: New Economic Windows
• Edition: 1st ed.
• Category: Library

✦ Synopsis

This book presents the latest perspectives and challenges within the interrelated fields of econophysics and sociophysics, which have emerged from the application of statistical physics to economics and sociology. Economic and financial markets appear to be in a permanent state of flux. Billions of agents interact with each other, giving rise to complex dynamics of economic quantities at the micro and macro levels. With the availability of huge data sets, researchers can address questions at a much more granular level than was previously possible. Fundamental questions regarding the aggregation of actions and information and the coordination, complexity, and evolution of economic and financial networks are currently receiving much attention in the econophysics research agenda. In parallel, the sociophysics literature has focused on large-scale social data and their interrelations. In this book, leading researchers from different communities – economists, sociologists, financial analysts, mathematicians, physicists, statisticians, and others – report on their recent work and their analyses of economic and social behavior.

✦ Table of Contents

Front Matter ....Pages i-x
Front Matter ....Pages 1-1
Strategic Behaviour and Indicative Price Diffusion in Paris Stock Exchange Auctions (Damien Challet)....Pages 3-12
Complex Market Dynamics in the Light of Random Matrix Theory (Hirdesh K. Pharasi, Kiran Sharma, Anirban Chakraborti, Thomas H. Seligman)....Pages 13-34
A Few Simulation Results of Basic Models of Limit Order Books (Ioane Muni Toke)....Pages 35-48
Optimizing Execution Cost Using Stochastic Control (Akshay Bansal, Diganta Mukherjee)....Pages 49-59
Hierarchical Financial Structures with Money Cascade (Mahendra K. Verma)....Pages 61-69
Effect of Tobin Tax on Trading Decisions in an Experimental Minority Game (Dipyaman Sanyal)....Pages 71-79
Migration Network of the European Union: Quantifying the Effects of Linguistic Frictions (Aparna Sengupta, Anindya S. Chakrabarti)....Pages 81-100
Interdependence, Vulnerability and Contagion in Financial and Economic Networks (Irena Vodenska, Alexander P. Becker)....Pages 101-116
Multi-layered Network Structure: Relationship Between Financial and Macroeconomic Dynamics (Kiran Sharma, Anindya S. Chakrabarti, Anirban Chakraborti)....Pages 117-131
Evolution and Dynamics of the Currency Network (Pradeep Bhadola, Nivedita Deo)....Pages 133-145
Some Statistical Problems with High Dimensional Financial data (Arnab Chakrabarti, Rituparna Sen)....Pages 147-167
Modeling Nelson–Siegel Yield Curve Using Bayesian Approach (Sourish Das)....Pages 169-189
Pareto Efficiency, Inequality and Distribution Neutral Fiscal Policy—An Overview (Sugata Marjit, Anjan Mukherji, Sandip Sarkar)....Pages 191-202
Tracking Efficiency of the Indian Iron and Steel Industry (Aparna Sawhney, Piyali Majumder)....Pages 203-209
Front Matter ....Pages 211-211
Social Integration in a Diverse Society: Social Complexity Models of the Link Between Segregation and Opinion Polarization (Andreas Flache)....Pages 213-228
Competitive Novel Dual Rumour Diffusion Model (Utkarsh Niranjan, Anurag Singh, Ramesh Kumar Agrawal)....Pages 229-240
Dynamical Evolution of Anti-social Phenomena: A Data Science Approach (Syed Shariq Husain, Kiran Sharma)....Pages 241-255
Front Matter ....Pages 257-257
International Center for Social Complexity, Econophysics and Sociophysics Studies: A Proposal (Bikas K. Chakrabarti)....Pages 259-267
Back Matter ....Pages 269-272

✦ Subjects

Physics; Statistical Physics and Dynamical Systems; Game Theory; Societal Aspects of Physics, Outreach and Education; Quantitative Finance; Big Data