Research Council of Lithuania has announced a call for applications for students’ research practice in Lithuania in summer of 2013. The contributors towards Physics of Risk website, dr. (HP) Vygintas Gontis and PhD student Aleksejus Kononovičius, offer two topics for the research practice. The offered topics are mainly based on the following topics, previously published on this website:
More information is available from the Research Council of Lithuania website (see the call here) and from the portal dedicated to the project “Promotion of Students’ Scientific Activities” (see here).
The quantitative comparison of economic growth of various states is still an ambiguous task. Economists and statisticians use various estimates of Gross Domestic Product (GDP) taking into account inflation, population, exchange rates etc. Here we present a graphical comparison of GDP growth of various states aimed at the estimation of relative input of various states into regions or the world economy and at the measure of economic convergence. We choose the estimate of GDP in common currency US dollars calculated in current prices and current exchange rates. In order to compare different size states we use GDP normalized per capita. Such data is available at the World Bank Database. Continue reading “V. Gontis, A. Kononovicius: The phenomenon of economic growth of Baltic states” »
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” »
Previously, approximately 2 years ago, we have written that we published a review of our works 1 in a book by open-access publisher. Recently we discovered that during the recent two and a half years this books was downloaded almost 7000 times (namely 8 times per day). It was downloaded by the people all around the world – with the USA, China, India, Japan, Germany being the most active countries in the process. It is an excellent result!
While being happy with excellent “diffusion” of our ideas via open-access publisher, we would also like to speak about the improving statistics of the Physics of Risk website. In 2012 we expect to be visited 12 thousand times! It is slightly better than in 2011, in which we had 11 thousand visits. Improvement is small, yet promising a bright future. Continue reading “Download rates of our open-access review” »
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.
In February and Match three very important conference to the econophysicists were held: “Unsolved Problems on Noise”, “Verhandlungen DPG” and “Open Readings” (lt. “Laisvieji skaitymai”). Our B. Kaulakys, V. Gontis, A. Kononovičius, P. Purlys and R. Kazakevičius have given oral and poster presentations at these conference. Presentations were mostly concerned with our newest achievements in the applications of Kirman model and burst statistics. Continue reading “February and March active time for econophysicists” »
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” »
The convergence of economies is an interesting topic to countries, which are significantly behind the leading countries in terms of economic efficiency and standard of living. It should not be a great surprise that the politicians of such developing countries name the economical catch up as their primary political goal. Understanding the essence of political debates on this topic and their interpretation i the media is very challenging topic as economic globalization, or integration, is very complex process. Though the basic understanding of what is known to economists about the economic convergence might be obtained by checking freely available source such as Wikipedia.
Our interest in this topic stems from the widely seen and heard, even among specialists (economists scientists, financial analytics and journalists), misunderstanding of the mechanics behind the observed economical convergence. These some times even principal errors causes society-wide mistrust in countries economical evolution and economical perspectives. We would like to illustrate known laws using certain examples and briefly analyze economic convergence of our region. We hope that interactive tools provided in the text will enable You to experiment with data and find the answers to your questions.
Full text is available on V. Gontis home page »
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” »
Slides from the closure conference were made available at mokslasplius.lt portal’s science news website. Though note that slides are only available in Lithuanian (see here). We would like to remind you that Physics of Risk was represented by V. Gontis and V. Daniūnas, thus their slides might be the most useful for visitors of Physics of Risk website.