The Physics of Wall Street
The Physics of Wall Street

Author: James Owen Weatherall

Publisher: Houghton Mifflin Harcourt

Published: 2013

Total Pages: 309

ISBN-13: 0547317271

DOWNLOAD EBOOK

A young scholar tells the story of the physicists and mathematicians who created the models that have become the basis of modern finance and argues that these models are the "solution" to--not the source of--our current economic woes.

Methods and Finance
Methods and Finance

Author: Emiliano Ippoliti

Publisher: Springer

Published: 2016-12-23

Total Pages: 199

ISBN-13: 331949872X

DOWNLOAD EBOOK

The book offers an interdisciplinary perspective on finance, with a special focus on stock markets. It presents new methodologies for analyzing stock markets’ behavior and discusses theories and methods of finance from different angles, such as the mathematical, physical and philosophical ones. The book, which aims at philosophers and economists alike, represents a rare yet important attempt to unify the externalist with the internalist conceptions of finance.

The Story of Econophysics
The Story of Econophysics

Author: Kishore Chandra Dash

Publisher: Cambridge Scholars Publishing

Published: 2019-08-22

Total Pages: 222

ISBN-13: 1527538885

DOWNLOAD EBOOK

This book will appeal to the lay-reader with an interest in the history of what is today termed ‘Econophysics’, looking at various works throughout the ages that have led to the emergence of this field. It begins with a discussion of the philosophers and scientists who have contributed to this discipline, before moving on to considering the contributions of different institutions, books, journals and conferences in nurturing the subject.

Stochastic Calculus and Differential Equations for Physics and Finance
Stochastic Calculus and Differential Equations for Physics and Finance

Author: Joseph L. McCauley

Publisher: Cambridge University Press

Published: 2013-02-21

Total Pages: 219

ISBN-13: 1107328136

DOWNLOAD EBOOK

Stochastic calculus provides a powerful description of a specific class of stochastic processes in physics and finance. However, many econophysicists struggle to understand it. This book presents the subject simply and systematically, giving graduate students and practitioners a better understanding and enabling them to apply the methods in practice. The book develops Ito calculus and Fokker–Planck equations as parallel approaches to stochastic processes, using those methods in a unified way. The focus is on nonstationary processes, and statistical ensembles are emphasized in time series analysis. Stochastic calculus is developed using general martingales. Scaling and fat tails are presented via diffusive models. Fractional Brownian motion is thoroughly analyzed and contrasted with Ito processes. The Chapman–Kolmogorov and Fokker–Planck equations are shown in theory and by example to be more general than a Markov process. The book also presents new ideas in financial economics and a critical survey of econometrics.

Essentials of Econophysics Modelling
Essentials of Econophysics Modelling

Author: Frantisek Slanina

Publisher: Oxford University Press, USA

Published: 2014

Total Pages: 427

ISBN-13: 0199299684

DOWNLOAD EBOOK

This book is a course in methods and models rooted in physics and used in modelling economic and social phenomena. It covers the discipline of econophysics, which creates an interface between physics and economics. Besides the main theme, it touches on the theory of complex networks and simulations of social phenomena in general. After a brief historical introduction, the book starts with a list of basic empirical data and proceeds to thorough investigation of mathematical and computer models. Many of the models are based on hypotheses of the behaviour of simplified agents. These comprise strategic thinking, imitation, herding, and the gem of econophysics, the so-called minority game. At the same time, many other models view the economic processes as interactions of inanimate particles. Here, the methods of physics are especially useful. Examples of systems modelled in such a way include books of stock-market orders, and redistribution of wealth among individuals. Network effects are investigated in the interaction of economic agents. The book also describes how to model phenomena like cooperation and emergence of consensus. The book will be of benefit to graduate students and researchers in both Physics and Economics.