Series: Elements in Econophysics

Classical mechanics provided the conceptual and methodological foundations of neoclassical economics, which has its roots in economic individualism. Since the early twentieth century, statistical mechanics has underpinned a lesser-known approach to economics and finance, one that focuses on aggregates and the interactions between individuals. This has led to the emergence of a new field of research, known as econophysics, which...

Classical mechanics provided the conceptual and methodological foundations of neoclassical economics, which has its roots in economic individualism. Since the early twentieth century, statistical mechanics has underpinned a lesser-known approach to economics and finance, one that focuses on aggregates and the interactions between individuals. This has led to the emergence of a new field of research, known as econophysics, which...