Econophysics and Companies: Statistical Life and Death in Complex Business Networks

by Hideaki Aoyama, Yoshi Fujiwara, Yuichi Ikeda, Hiroshi Iyetomi, Wataru Souma

Overview

Econophysics is an emerging interdisciplinary field that takes advantage of the concepts and methods of statistical physics to analyse economic phenomena. This book expands the explanatory scope of econophysics to the real economy by using methods from statistical physics to analyse the success and failure of companies. Using large data sets of companies and income-earners in Japan and Europe, a distinguished team of researchers show how these methods allow us to analyse companies, from huge corporations to small firms, as heterogeneous agents interacting at multiple layers of complex networks. They then show how successful this approach is in explaining a wide range of recent findings relating to the dynamics of companies. With mathematics kept to a minimum, the book is not only a lively introduction to the field of econophysics but also provides fresh insights into company behaviour.

Product Details

ISBN-13:	9780521191494
Publisher:	Cambridge University Press
Publication date:	08/05/2010
Pages:	262
Product dimensions:	6.90(w) x 9.80(h) x 0.80(d)

About the Author

Hideaki Aoyama is Professor of Physics at Kyoto University, Japan.

Yoshi Fujiwara is Research Fellow at Advanced Telecommunication Research Institute International (ATR).

Yuichi Ikeda is Senior Researcher in Hitachi Ltd, Hitachi Research Laboratory, Japan.

Hiroshi Iyetomi is Professor of Physics at Niigata University, Japan.

Wataru Souma is Associate Professor of Physics at Nihon University, Japan.

Table of Contents

List of figures; List of tables; About the authors; Foreword; Preface; Prologue; 1. New insights; 2. Size distribution; 3. Fluctuations - company growth; 4. Complex business networks; 5. Agent-based model for companies; 6. Perspectives for practical applications; 7. Epilogue; Bibliography; Index.

Editorial Reviews

"The failures of mainstream economic doctrine in interpreting the 'how and why' of the current financial and economic turmoil is an unrepeatable opportunity to change the situation. The probability of success largely depends on the capacity to pose the right research questions and develop the appropriate box of tools. That is what this path-breaking book impressively achieves. After having read it, the reader's approach to economics will surely change." - Mauro Gallegati, Polytechnic University of Marche, Ancona, and Institute of Complex Systems, CNR, Rome

From the Publisher