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What is Econophysics: A New Economic Paradigm about?

Econophysics seeks to establish an empirically founded science of economics based on observations of how economic systems actually evolve over time, rather than conforming data to theoretical expectations. Mainstream economics has become overly concerned with theoretical elegance rather than describing reality. The recent financial crisis has led to widespread criticism of mainstream economics for failing to anticipate or address the crisis. Econophysics applies theories and methods from physics to study ec

Author

Fahad Ahmad Khan

Language

EN