Econophysics Through Computation

Abstract

We introduce here very briefly, through some selective choices of problems and through the sample computer simulation programs (following the request of the editor for this invited review in the Journal of Physics Through Computation), the newly developed field of econophysics. Though related attempts could be traced much earlier (see the Appendix), the formal researches in econophysics started in 1995. We hope, the readers (students \& researchers) can start themselves to enjoy the excitement, through the sample computer programs given, and eventually can undertake researches in the frontier problems, through the indicated survey literature provided.

Invited review article for `Journal of Physics Through Computation' (Clausius Scientific Press)

References in corpus (36)

• Small-world properties of the Indian Railway network
• Exponential and power-law probability distributions of wealth and income in the United Kingdom and the United States
• Colloquium: Statistical mechanics of money, wealth, and income
• Statistical mechanics of money: How saving propensity affects its distribution
• Evidence for the exponential distribution of income in the USA
• Pareto Law in a Kinetic Model of Market with Random Saving Propensity
• A statistical model with a standard Gamma distribution
• Evidence for Power-law tail of the Wealth Distribution in India
• Distributions of money in model markets of economy
• Disorder induced phase transition in kinetic models of opinion dynamics
• Opinion formation in the kinetic exchange models: Spontaneous symmetry breaking transition
• The Kolkata Paise Restaurant Problem and Resource Utilization
• Microeconomics of the ideal gas like market models
• A Trade-Investment Model for Distribution of Wealth
• The statistical distribution of money and the rate of money transference
• Socio-economic inequality: Relationship between Gini and Kolkata indices
• Disorder induced phase transition in an opinion dynamics model: results in 2 and 3 dimensions
• Wealth redistribution with finite resources
• Measuring social inequality with quantitative methodology: analytical estimates and empirical data analysis by Gini and $k$ indices
• Effects of network topology on wealth distributions
• Money Exchange Model and a general Outlook
• Statistics of the Kolkata Paise Restaurant Problem
• Kinetic models of immediate exchange
• Cooperation amongst competing agents in minority games
• Rigorous results for the distribution of money on connected graphs
• On the Kolkata index as a measure of income inequality
• Weighted Trade Network in a Model of Preferential Bipartite Transactions
• Scaling in Income Inequalities and its Dynamical Origin
• The Immediate Exchange model: an analytical investigation
• A threshold induced phase transition in the kinetic exchange models
• Emergence of Power Law in a Market with Mixed Models
• Fat tailed distributions for deaths in conflicts and disasters
• Inequality in Death from Social Conflicts: A Gini & Kolkata indices-based Study
• Effects of introduction of new resources and fragmentation of existing resources on limiting wealth distribution in asset exchange models
• Reality-check for Econophysics: Likelihood-based fitting of physics-inspired market models to empirical data
• Random trading market: Drawbacks and a realistic modification