Introduction to Econophysics: Correlations and Complexity in Finance

The latest scientific concepts penetrate the modern economic theory - nonlinear dynamics (synergetics), determined chaos, fractals, genetic algorithms, fuzzy sets and others - promising new discoveries, but at the same time, by their own appearance, prompting the revision of the previously achieved. New research programs are born, which aimed at a more reliable explanation of complex phenomena. These include the recently established discipline, called "Enonophysics".
This book is devoted to using the concepts of statistical physics to describe financial systems. It studies a problem that is ignored by traditional research in economics and finance: namely, the fact that there is no evidence in favor of the existence of market self -regulation. The understanding is demonstrated that the markets do not behave the same as they must hypothetically "behave in accordance with traditional models. Based on the analysis of financial market data, a new model of market prices with non -trivial variability is developed.
The book is written easily and accessible, it is not overloaded with mathematical calculations and, in essence, is a fascinating story about the latest methods of mathematical economy. It will be interesting not only to economists and financiers, but also to physicists who will find promising application of the concepts of statistical physics to economic systems