Statistical Physics and Economics: Concepts, Tools, and Applications

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This book covers systematically and in simple language the physical foundations of evolution equations, stochastic processes, and generalized Master equations applied to complex economic systems. Strong emphasis is placed on concepts, methods and techniques for modeling, assessment and solving or estimation of economic problems in an attempt to understand the large variability of financial markets, trading and communication networks, barriers and acceleration of the economic growth as well as the kinetics of product and money flows. The main focus of the book is on a clear physical understanding of the self-organizing principles in social and economic systems. The book is a modern introduction and a helpful tool for researchers, engineers as well as post-docs and graduate students interested in econophysics and related topics.