Identification of Areas of Econophysical Models Application

Piotr Młodzianowski , Daniel Młodzianowski

Abstract

The 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.
Author Piotr Młodzianowski KFWZ
Piotr Młodzianowski,,
- Chair of Finance and Financial Systems
, Daniel Młodzianowski WZ
Daniel Młodzianowski,,
- Faculty of Management
Journal seriesEconomics World, ISSN 2328-7144
Issue year2018
Vol6
No1
Pages34-44
Publication size in sheets0.5
Keywords in Englishgravity model, minority game, El Farol bar problem, econophysics, management, economics
DOIDOI:10.17265/2328-7144/2018.01.004
URL http://www.davidpublisher.org/Public/uploads/Contribute/5a13ca72501bd.pdf
Languageen angielski
Score (nominal)5
ScoreMinisterial score = 0.0, 16-01-2018, ArticleFromJournal
Ministerial score (2013-2016) = 5.0, 16-01-2018, ArticleFromJournal - czasopismo zagraniczne spoza list
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