Eur. Phys. J. Special Topics 225, 3255-3259 (2016)
https://doi.org/10.1140/epjst/e2016-60101-x

Regular Article

Applications of statistical physics methods in economics: Current state and perspectives

Department of Economics, University of Kiel and Banco de España Chair in Computational Economics, University Jaume I, 24118 Kiel, Germany

^a e-mail: lux@bwl.uni-kiel.de

Received: 7 April 2016
Revised: 15 September 2016
Published online: 22 December 2016

Abstract

This note discusses the development of applications of statistical physics to economics since the beginning of the ‘econophysics’ movement about twenty years ago. I attempt to assess which of these applications appear particularly valuable and successful, and where important overlaps exist between research conducted by economist and ‘econophysicists’.