Introduction to Econophysics: Correlations and Complexity in Finance - Image 1

£66.75

Cambridge University Press Introduction to Econophysics: Correlations and Complexity in Finance

Name: Introduction to Econophysics: Correlations and Complexity in Finance
Brand: Cambridge University Press
Price: 62.27 GBP
Availability: InStock

Physics

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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, 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.

Product Specifications

Brand: Cambridge University Press
Format: hardcover
ASIN: 0521620082
Category: Books > Subjects > Science, Nature & Maths > Popular Science > Physics
Domain: Amazon UK
Release Date: 13 November 1999
Listed Since: 04 January 2007

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Cambridge University Press Introduction to Econophysics: Correlations and Complexity in Finance

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