Econophysics

Chapter 7

The Potential of Econophysics for the Study of Economic Processes

Gheorghe Săvoiu¹ and Constantin Andronache²

¹University of Piteşti, Faculty of Economics Romania

²Boston College, Chestnut Hill, MA, USA

7.1 Introduction

7.2 What is the Adequate Meaning for Contemporary Econophysics?

7.3 A Brief Historical Background of Econophysics

7.4 Methods of Econophysics

7.5 Review of Major Results and New Domains

7.6 Conclusions

References

7.1 Introduction

Specific economic theories are constructed from rationality which is the same thing as maximizing expected utility by applying the basic postulates to various economic situations. The new science called econophysics by Rosario Mantegna and H. Eugene Stanley, at the second Statphys-Kolkata conference ...