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Progress of Theoretical Physics Supplement No. 194



Econophysics 2011
The Hitchhiker's Guide to the Economy


Proceedings of the YITP Workshop on Econophysics

Ed. by H. Aoyama, Y. Fujiwara, H. Iyetomi, A.-H. Sato


This volume contains the proceedings of the Yukawa Institute for Theoretical Physics Workshop, ``Econophysics 2011 —The Hitchhiker's Guide to the Economy— ", which was held at the Yukawa Institute for Theoretical Physics (YITP), Kyoto University, July 15-16, 2011. This counts the fifth in a series of biennial workshops designed to provide a stimulating environment for discussion and a forum in which the participants can exchange novel ideas and insights on econophysics.

Econophysics is a relatively new interdisciplinary field that seeks to understand the economic activities of human beings from a physical point of view, by applying empirical investigations based on substantial amounts of data and continuously exploring the underlying universal laws of human behavior. Econophysics has emerged as an interdisciplinary field between economics and physics since mid '90s. Especially, explosive development in the fields of information and communication technology (ICT) at the beginning of the 21st century triggered rapid enlargement of a community of econophysics scholars. As such, it became necessary to institute this workshop to discuss recent research outcomes and exchange new ideas.

The following topics were discussed at this workshop:
- Price formation and prediction of stock markets and foreign exchange markets
- Wealth, income, and growths distributions of individuals and firms
- Complex networks of companies and financial institutions
- Productivity, innovation, and chain bankruptcy in industrial sectors
- Consumer behavior and marketing issues
- Socio-economic phenomena, such as non-equilibrium and/or non-stationary systems

This volume includes twenty-one of the papers that were presented at the workshop. We hope that this volume will help researchers and professionals understand novel research outcomes and gain new insights. We also hope that it enables newcomers to learn about recent topics and find solutions to new problems. Our wish is that these papers will guide future research in the field of econophysics.


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