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Econophysics-inspired New Year thoughts

Hassan Masum (19 December 2004)

In the spirit of a New Year's resolution, consider the character of Econophysics itself. Two attributes of the field stand out: i) the application of careful and (where possible) rigorous modeling and simulation, to ii) questions of socio-economic systems... ...
Brian Arthur's Foreword to the Minority Game Book

Brian Arthur (19 June 2004)

Once in a while a model problem appears that is simple to describe but offers a wealth of lessons. If the model problem is a classic — like the Ising model or the Prisoner’s Dilemma — it both opens up our insight and gives us analytical pathways into an intriguing world. Challet, Marsili and Zhang’s Minority Game problem is such a model. It is a classic ...
Human players are invited to challenge Minority Game players

Yi-Cheng Zhang (27 March 2003)

In the past few months we (Fribourg University econophysics group) have been testing an online interactive Minority Game that can be played around the globe via the World Wide Web. A human player is pitted against a few dozen adaptive MG players whose information capacity is very bounded, with an adjustable range---hence various levels of difficulty. ...
Goodbye to Per

Yi-Cheng Zhang (29 October 2002)

Last week Per Bak passed away, after a long heroic battle against a nasty disease. For many people in the interdisciplinary physics, especially in Econophysics, the loss is irreplaceable: for Per is unique in his penetrating insight, broad scope and a flair for simple beauty in physics and science. ...
Guest Commentary by Paul Ormerod, Author of 'Butterfly Economics'. Econophysics: Achievements, Dangers and Challenges

Paul Ormerod (06 September 2002)

Econophysics as a concept has now been around for several years. Conferences are starting to be held in the name of the discipline -- the Bali jamboree being the latest example. Time for an economist's opinion on the ADC of econophysics: its achievements to date, the potential dangers faced by physicists coming into economics, and the challenges if econophysics is to make a decisive impact on economics. ...
A beautiful piece of Economics got Nobel!

Yi-Cheng Zhang (01 October 2001)

Last week Bank of Sweden awarded the Nobel Memorial Prize in Economics to three economists George Akerlof et al.. While in the past the economics prizes are hardly intelligeable to the outsiders of the profession, the work started by George Akerlof is so simple and beautiful as well as practical that I cannot recommend too highly for physicists to have a look. ...
A Tale of Two Directions

Yi-Cheng Zhang (01 April 2001)

The statistical Mechanics Community used to be a unified fraternality inside the greater physics discipline. We recall that in the golden eighties there were such romantic themes as the then-emergent field: pattern formation, fractals, DLA, SOC, which even some of the most prominent physicists gravitated. No longer. The Community as we know it doesn't exist any more, even though grand meetings like Statphys21 still attract hundreds, but it seems more like an Old-Boys-Club than a place to look up for clues of new directions and inspirations. ...
Let the debate begin

Yi-Cheng Zhang (01 December 2000)

Le Monde published an unusual article ["premier appel"] , ["contre appel"], an appeal of over two hundreds economists of elite French hautes ecoles publicly aired their rebelion against what is called Neo-classical economics, especially the formal math models without pratical relevance. And there is also a pitiful defense of about fifteen economists calling for mercy and reason. I thank Erico Scalas for suggesting to us this piece of news. ...
Physicists' New Adventure

Yi-Cheng Zhang (01 February 1999)

After long months waiting, finally we are able to present this interactive site. The need of a web site is well recognized: since we, physicists doing economy-related research, are marginal to both communities: economics and physics. The hope is that this site would serve as a catalyst at fostering the exciting new field of "econophysics". ...