Description 
1 online resource (xiv, 327 pages) : illustrations 
Contents 
Individual and statistical descriptions  Probability and events  Finite random variables and stochastic processes  The PĆ³lya process  Time evolution and finite Markov chains  The EhrenfestBrillouin model  Applications to stylized models in economics  Finitary characterization of the Ewens sampling formula  The ZipfSimonYule process 
Summary 
"Econophysics applies the methodology of physics to the study of economics. However, whilst physicists have good understanding of statistical physics, they may be unfamiliar with recent advances in statistical conjectures, including Bayesian and predictive methods. Equally, economists with knowledge of probabilities do not have a background in statistical physics and agentbased models. Proposing a unified view for a dynamic probabilistic approach, this book is useful for advanced undergraduate and graduate students as well as researchers in physics, economics and finance. The book takes a finitary approach to the subject; discussing the essentials of applied probability, and covering finite Markov chain theory and its applications to real systems. Each chapter ends with a summary, suggestions for further reading, and exercises with solutions at the end of the book" Provided by publisher 
Bibliography 
Includes bibliographical references and indexes 
Notes 
Print version record 
Subject 
Econometrics.


Economics  Mathematical models.


Economics  Statistical methods.


Physics  Mathematical models.


Statistical physics.

Form 
Electronic book

Author 
Scalas, Enrico.

ISBN 
0511777582 (electronic bk.) 

0511902050 (electronic bk.) 

9780511777585 (electronic bk.) 

9780511902055 (electronic bk.) 
