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This book presents the works and research findings of physicists, economists, mathematicians, statisticians, and financial engineers who have undertaken data-driven modelling of market dynamics and other empirical studies in the field of Econophysics. During recent decades, the financial market landscape has changed dramatically with the deregulation of markets and the growing complexity of products. The ever-increasing speed and decreasing costs of computational power and networks have led to the emergence of huge databases. The availability of these data should permit the development of models that are better founded empirically, and econophysicists have accordingly been advocating that one should rely primarily on the empirical observations in order to construct models and validate them. The recent turmoil in financial markets and the 2008 crash appear to offer a strong rationale for new models and approaches. The Econophysics community accordingly has an important future role to play in market modelling. The Econophys-Kolkata VIII conference proceedings are devoted to the presentation of many such modelling efforts and address recent developments. A number of leading researchers from across the globe report on their recent work, comment on the latest issues, and review the contemporary literature.

Physics. --- Socio- and Econophysics, Population and Evolutionary Models. --- Game Theory, Economics, Social and Behav. Sciences. --- Game Theory/Mathematical Methods. --- Complex Systems. --- Complexity. --- Mathematics. --- Engineering. --- Economics, Mathematical. --- Physique --- Mathématiques --- Ingénierie --- Mathématiques économiques --- Physics --- Physical Sciences & Mathematics --- Physics - General --- Economics --- Econophysics. --- Statistical methods. --- Economic statistics --- Game theory. --- System theory. --- Sociophysics. --- Complexity, Computational. --- Economic theory. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Statistical physics --- Statistical methods --- Econometrics --- Data-driven Science, Modeling and Theory Building. --- Construction --- Industrial arts --- Technology --- Economic theory --- Political economy --- Social sciences --- Economic man --- Math --- Science --- Computational complexity. --- Complexity, Computational --- Electronic data processing --- Machine theory --- Systems, Theory of --- Systems science --- Games, Theory of --- Theory of games --- Mathematical models --- Mathematics --- Mathematical sociology --- Philosophy

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This book provides the first comprehensive introduction to multi-agent, multi-choice repetitive games, such as the Kolkata Restaurant Problem and the Minority Game. It explains how the tangible formulations of these games, using stochastic strategies developed by statistical physicists employing both classical and quantum physics, have led to very efficient solutions to the problems posed. Further, it includes sufficient introductory notes on information-processing strategies employing both classical statistical physics and quantum mechanics. Games of this nature, in which agents are presented with choices, from among which their goal is to make the minority choice, offer effective means of modeling herd behavior and market dynamics and are highly relevant to assessing systemic risk. Accordingly, this book will be of interest to economists, physicists, and computer scientists alike.

Physics. --- Quantum computers. --- Spintronics. --- Economic theory. --- Economics. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Data-driven Science, Modeling and Theory Building. --- Theoretical, Mathematical and Computational Physics. --- Quantum Information Technology, Spintronics. --- Magnetoelectronics --- Spin electronics --- Microelectronics --- Nanotechnology --- Computers --- Economic theory --- Political economy --- Social sciences --- Economic man --- Fluxtronics --- Spinelectronics --- Sociophysics. --- Econophysics. --- Mathematical physics. --- Physical mathematics --- Physics --- Economics --- Statistical physics --- Mathematical sociology --- Mathematics --- Statistical methods