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Comments and Criticisms: Econophysics and Sociophysics

  • Mauro Gallegati
  • Bikas K. Chakrabarti
  • Taisei Kaizoji
  • Yougui Wang
  • Yoshi Fujiwara
  • Sitabhra Sinha
  • Jürgen Mimkes
Part of the New Economic Windows book series (NEW)

Abstract

So far econophysics has given contributions in four areas of economics: financial markets, wealth and income distribution, industrial economics (firms’ size distribution, growth rates) and, more recently, networks analysis. According to Gallegati et al., 2006, there are some weakness in the approach: a lack of awareness of work that has been done within economics itself; resistance to more rigorous and robust statistical methodology; the belief that universal empirical regularities can be found in many areas of economic activity; the theoretical models which are being used to explain empirical phenomena. The paper raised a lively debate (see e.g. Ball, 2006).

Keywords

Nobel Prize Representative Agent Wealth Distribution Downward Causation Economic Network 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Italia 2007

Authors and Affiliations

  • Mauro Gallegati
    • 1
  • Bikas K. Chakrabarti
    • 2
    • 3
  • Taisei Kaizoji
    • 4
  • Yougui Wang
    • 5
    • 6
  • Yoshi Fujiwara
    • 7
  • Sitabhra Sinha
    • 8
  • Jürgen Mimkes
    • 9
  1. 1.Dipartimento di EconomiaUniversità Politecnica delle MarcheAnconaItaly
  2. 2.Theoretical Condensed Matter Physics DivisionSaha Institute of Nuclear PhysicsKolkataIndia
  3. 3.Centre for Applied Mathematics and Computational ScienceSaha Institute of Nuclear PhysicsKolkataIndia
  4. 4.Division of Social SciencesInternational Christian UniversityMitaka, TokyoJapan
  5. 5.Center for Polymer Studies, Department of PhysicsBoston UniversityBostonUSA
  6. 6.Department of Systems ScienceSchool of Management, Beijing Normal UniversityBeijingPeople’s Republic of China
  7. 7.NiCT/ATR CIS Applied Network Science LabKyotoJapan
  8. 8.The Institute of Mathematical SciencesC. I. T. CampusTaramani, ChennaiIndia
  9. 9.Department PhysikUniversität PaderbornWarburgerstrGermany

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