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Experimental Econophysics

Properties and Mechanisms of Laboratory Markets

(Autor)

Buch | Hardcover
XV, 192 Seiten
2014 | 2015
Springer Berlin (Verlag)
978-3-662-44233-3 (ISBN)
CHF 74,85 inkl. MwSt

Experimental Econophysics describes the method of controlled human experiments, which is developed by physicists to study some problems in economics or finance, namely, stylized facts, fluctuation phenomena, herd behavior, contrarian behavior,
hedge behavior, cooperation, business cycles, partial information, risk management, and stock prediction. Experimental econophysics together with empirical econophysics are two branches of the field of econophysics. The latter one has been
extensively discussed in the existing books, while the former one has been seldom touched. In this book, the author will focus on the branch of experimental econophysics.

Empirical econophysics is based on the analysis of data in real markets by using some statistical tools borrowed from traditional statistical physics. Differently, inspired by the role of controlled experiments and system modelling (for computer simulations and/or analytical theory) in developing modern physics, experimental econophysics specially relies on controlled human experiments in the laboratory (producing data for analysis) together with agent-based modelling (for computer simulations and/or analytical theory), with an aim at revealing the general
cause-effect relationship between specific parameters and emergent properties of real economic/financial markets. This book covers the basic concepts, experimental methods, modelling approaches, and latest progress in the field of experimental
econophysics.


J. P. Huang received the Ph.D degree in Physics from The Chinese University of Hong Kong, Hong Kong, China, in 2003. Since 2005, he has been a Professor in the Department of Physics, Fudan University, Shanghai, China. He was a Research Fellow of the Alexander von Humboldt foundation (Germany) in 2004–2005. His current research interests include econophysics and soft matter physics. His homepage: http://www.physics.fudan.edu.cn/tps/people/jphuang/new/.

Introduction.- Fundamentals.- Stylized facts: Scaling Law and Clustering Behavior.- Fluctuation Phenomena: Leverage Could be Positive and Negative.- Herd Behavior: Beyond the Known Ruinous Role.- Contrarian Behavior: Beyond the Known Helpful Role.- Hedge Behavior: Statistical Equivalence of Different Systems.- Cooperation: Spontaneous Emergence of the Invisible Hand.- Business Cycles: Competition between Suppliers and Consumers.- Partial Information: Equivalent to Complete Information.- Risk Management: Unusual Risk-Return Relationship.- Prediction: Pure Technical Analysis Might not Work Satisfactorily.- Summary and outlook.- Appendix.

Erscheint lt. Verlag 20.8.2014
Reihe/Serie New Economic Windows
Zusatzinfo XV, 192 p. 75 illus., 35 illus. in color.
Verlagsort Berlin
Sprache englisch
Maße 155 x 235 mm
Gewicht 482 g
Themenwelt Mathematik / Informatik Informatik Theorie / Studium
Naturwissenschaften Physik / Astronomie Theoretische Physik
Sozialwissenschaften Soziologie Empirische Sozialforschung
Schlagworte agent-based modeling • Arbitrage Opportunities • complex adaptive system • Complexity • Computer-aided Controlled Human Experiments • Controlled experiment • Data-driven Science, Modeling and Theory Building • Emergent Property • Fluctuation Phenomena • Human Market Behavior • Laboratory Market • Risk Management
ISBN-10 3-662-44233-7 / 3662442337
ISBN-13 978-3-662-44233-3 / 9783662442333
Zustand Neuware
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