Three Decades in Econophysics—From Microscopic Modelling to Macroscopic Complexity and Back

Alex Smolyak, Shlomo Havlin

Research output: Contribution to journalReview articlepeer-review

3 Scopus citations

Abstract

We explore recent contributions to research in Econophysics, switching between Macroscopic complexity and microscopic modelling, showing how each leads to the other and detailing the everyday applicability of both approaches and the tools they help develop. Over the past decades, the world underwent several major crises, leading to significant increase in interdependence and, thus, complexity. We show here that from the perspective of network science, these processes become more understandable and, to some extent, also controllable.

Original languageEnglish
Article number271
Number of pages12
JournalEntropy
Volume24
Issue number2
DOIs
StatePublished - 14 Feb 2022

Bibliographical note

Publisher Copyright:
© 2022 by the authors. Licensee MDPI, Basel, Switzerland.

Keywords

  • Cascading failure
  • Dynamics of complex networks
  • Econophysics
  • Network science

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