The most active and well known scientists contributing towards FuturICT project have organized their ideas into few articles, which discuss the current situation in contemporary complex social system modeling. These articles we published in a special issue of “The European Physical Journal Special Topics”. Most of the articles are available for free, thus we invite you to familiarize yourselves with them.
Keyword: agent based reasoning
Econophysics is not a very well known interdisciplinary field of research in Lithuania. There are very few Lithuania based scientists who are related to this very young and rapidly developing branch of Physics. Therefore we, being ones of the few, feel an obligation to introduce Econophysics to the other scientists, businessmen and the whole broader society. In this text we will discuss the basic ideas, current trends and the most common problems relevant to the field of Econophysics.
The name of Econophysics implies the application of physics, mostly the methods taken from Statistical Physics, to the Economics. Though until recently most of the econophysicists used to focus on the financial markets. Currently the field is expanding very rapidly and now concerns something more than just regular Economics or Finance – many physicists now attempt to tackle problems in the other social sciences. For these broader approaches there are other overlapping terms including Sociophysics, Physics of Risk, Physics of Socio-Economic Systems and other.
At this point we would like to stop the discussion on the use of the terminology. Recall that the aim of this text is somewhat different from that. We aim to familiarize you with the Econophysics! Continue reading “Vygintas Gontis: Econophysics – brand new outlook into social sciences” »
Seminar at VU MIF: Agent-based Versus Macroscopic Modeling of Competition and Business Processes in Economics and Finance
Topic: “Agent-based Versus Macroscopic Modeling of Competition and Business Processes in Economics and Finance”
Speaker: dr. Vygintas Gontis
Briefly: The talk will be focused on the agent-based and stochastic modelling done by the Department of the Theory of Processes and Structures of the VU ITPA.
When? 6th of November, 17:00.
Where? VU Faculty of Mathematics and Informatics (Naugarduko g. 24, Vilnius), 400 auditorium.
Organized by: Department of the Mathematical Analysis of the VU MIF.
Topic: “Physics is not a risk: Brief introduction into the Physics of Risk”
Speaker: Aleksejus Kononovičius
Briefly: Social sciences have accomplished many different things. Yet it should be evident that there is a place for improvements – to look into the old and new social problems a bit differently. As many of the social problems are strongly non-linear and very complex, the physicists’ point of view is very useful. This, new, point of view is known as Physics of Risk.
When? 18th of October, 17:00.
Where? VU Faculty of Physics (Saulėtekio al. 9, III rūmai, Vilnius), 201 auditorium.
Organized by: VU Faculty of Physics Students Scientific Association.
Facebook event: here.
Slides: download (in Lithuanian).
The simplest ecological system can be constructed from the two interacting species, ex. prey and predator. This kind of system is very interesting in the terms of Physics of Risk primarily because it is nonlinear 1, and due to being real life example of competition (conflict). Also there are few known simple models for the prey-predator interaction. Among them there are both macroscopic, Lotka-Volterra equations, and microscopic, agent-based, models. In this text we continue the previous discussion by considering the agent-based model. Continue reading “Agent based prey-predator model” »
EURO 2012 starts next week in Vilnius! EURO 2012, European Conference on Operational Research, is huge scientific event popular both among scientists and businessmen. Operational research tackles very challenging, and thus scientifically interesting, and highly applicable topics. Some of these topics overlap with the ones we discuss here on Physics of Risk – financial market modelling, risk management and analysis, decision making. Many reports will also consider logistics, optimization and network analysis.
On of our authors will join numerous scientists from Lithuania and abroad giving talks in the conference. On Monday, the 9th of July, he will give a talk on “Herding behavior of agents as a background of financial fluctuations”, Our works on the applications of Kirman model will be the key point of the talk.
Read more on the conference website: euro-2012.lt.
In the last year we have already written that work in the context of Physics of Risk provides varying insights into very different complex systems. The previous article 1 contained brief review of Physics of Risk platform and discussions on some of the models published using it. This article received great response and was even awarded the Best Paper Award by the publisher IARIA. Continue reading “IARIA publication reviewing our different research directions” »
In the next Physica A issue (will be made available in February, 2012) our article 1 will be published. The article is on the agent based reasoning for the stochastic models. Basically this article incorporates knowledge obtained while working on the simple models provided on Physics of Risk: Continue reading “Our recent articles on agent based reasoning and the burst statistics” »
We have contributed two presentations towards the recent 39th Lithuanian National Physics Conference, which was organized by Vilnius University and Lithuanian Physicist Society. Oral presentation by A. Kononovicius was based on some of the models presented on Physics of Risk website, while poster presentation by R. Kazakevičius tackles very general problem related to the Physics of Risk. Continue reading “Presentations at 39th Lithuanian national physics conference” »
As we have seen previously application of the original Kirman’s model enables reproduction of single power law spectral density 1. While actual financial markets and sophisticated stochastic models 2 have double power law spectral density – i. e. fractured spectral density. Thus it would be nice to obtain fracture of spectral density by improving application of Kirman’s agent based model towards financial markets. Continue reading “Three group Kirman’s agent based model for financial markets” »