Identification of Areas of Econophysical Models Application
Piotr Młodzianowski , Daniel Młodzianowski
AbstractThe article presents results of reflections on practical applications of econophysical models in different fields and areas of the management support and answers the question: In what areas and scopes of the management process is usage of econophysical models already effective or very likely to be effective? It discusses the problem of gravity models and minority games used in economic and social sciences. Their applications in areas such as trade, transport, analysis of financial market fluctuations, or decision making are presented. An attempt is made to identify missing pieces in the area of broadly understood management, and possible directions for further research are suggested. The paper uses research methods such as desk research and literature review.
|Journal series||Economics World, ISSN 2328-7144|
|Publication size in sheets||0.5|
|Keywords in English||gravity model, minority game, El Farol bar problem, econophysics, management, economics|
|Score|| = 0.0, 16-01-2018, ArticleFromJournal|
= 5.0, 16-01-2018, ArticleFromJournal - czasopismo zagraniczne spoza list
|Citation count*||0 (2018-06-16)|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.