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Econophysics and Policy

 

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Econophysics is an interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics.

Econophysics has tended to concentrate on financial markets, and these represent an ideal laboratory for testing economics concepts using the terabytes of data generated every day by financial markets to compare theories with observations. The dynamics of financial markets, and more generally of economic systems, may reflect the same underlying mechanisms that are familiar to physicists.

As models become more realistic, analytics often have to give way to numerical simulations and this is well-accepted in physics.

Econophysics - Introduction by Alan Kirman (pdf)

A presentation from researchers from Ecole Polytechnique on the following themes with discussants from OECD directorates:

Presentations by OECD discussants: Boris Cournede ¦ Maria Chiara Cavalleri ¦ Eleonora Mavroedi

 

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