Experimental Econophysics: Properties and Mechanisms of Laboratory Markets

Huang, Ji-Ping (Author)

ISBN 10: 3662442337 / ISBN 13: 9783662442333

Published by Springer, 2014

About this Item

2015 edition. 192 pages. 9.75x6.75x0.75 inches. In Stock.

Seller Inventory # x-3662442337

Bibliographic Details

• Title: Experimental Econophysics: Properties and Mechanisms of Laboratory Markets
• Publisher: Springer
• Publication Date: 2014
• Language: English
• ISBN 10: 3662442337
• ISBN 13: 9783662442333
• Binding: Hardcover
• Condition: Brand New
• Weight: 0.44 kilograms

About this title

Synopsis

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.

About the Author

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/.