Econophysics: Culture Crash

  title={Econophysics: Culture Crash},
  author={Philip Ball},
  • P. Ball
  • Published 7 June 2006
  • Physics, Education, Economics
  • Nature
Some economists had hoped that physicists might shake up the rigid theories typical of mainstream economics. But so far, they're unimpressed by physicists' handling of the markets. Philip Ball reports.Physics marches onThe physicist Ernest Rutherford is reported as saying “All science is either physics or stamp collecting”. Since his time, physicists have certainly colonized some prime territory in the life sciences. Now, with the emergence of econophysics, they are parking their tanks firmly… 
Econophysics and Economic Complexity
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From Edgeworth to econophysics: a methodological perspective
Although most of the marginalist economists' methodology was influenced by nineteenth-century classical physics, the work of Francis Ysidro Edgeworth represents the highest point of classical physics
Financial economics was born in the 1960s. It took less than two decades for the new discipline’s main theoretical results to become established, creating what is considered to be mainstream
Dynamics of markets: Econophysics and finance By Joseph L. McCauley, Cambridge University Press, Cambridge, 2004, 209 + xvi pages, ISBN 0-521-82447-8
The nature of econophysics and its relationship with both economics and physics has become increasingly contentious and controversial recently (Ball [2]; Gallegati et al. [3], 2006). The term is
Comments and Criticisms: Econophysics and Sociophysics
So far econophysics has given contributions in four areas of economics: financial markets, wealth and income distribution, industrial economics (firms’ size distribution, growth rates) and, more
Breaking down the Barriers between Econophysics and Financial Economics
This article highlights the current misunderstanding between economists and econophysicists by adopting the financial economists' viewpoint in order to explain why the works developed by
Can there be a physics of financial markets? Methodological reflections on econophysics
Abstract We address the question whether there can be a physical science of financial markets. In particular, we examine the argument that, given the reflexivity of financial markets (i.e., the
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The term “Econophysics” was used for the first time by Eugene Stanley (physicist) in 1995 and represents the name of a rather new research domain that tries to apply the modeling standards in


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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,
Is Economics the Next Physical Science
We review an emerging body of work by physicists addressing questions of economic organization and function. We suggest that, beyond simply employing models familiar from physics to economic
The Economy as an Evolving Complex System II
* Introduction W.B. Arthur, S.N., Durlauf, and D. Lane * Asset Pricing Under Endogenous Expectations in an Artificial Stock Market W.B. Arthur, J.H. Holland, B. LeBaron, R. Palmer, and P. Tayler *
What is Computational Economics?
The current and future developments within the field of Computational Economics are described.
Econophysics will displace economics in both the universities and boardrooms.
  • Handbook of Computational Economics
  • 2006
Physica A
  • Physica A
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