## The Application of Econophysics: Proceedings of the Second Nikkei Econophysics SymposiumEconophysics is a newborn field of science bridging economics and physics. A special feature of this new science is the data analysis of high-precision market data. In economics arbitrage opportunity is strictly denied; however, by observing high-precision data we can prove the existence of arbitrage opportunity. Also, financial technology neglects the possibility of market prediction; however, in this book you can find many examples of predicted events. There are other surprising findings. This volume is the proceedings of a workshop on "application of econophysics" at which leading international researchers discussed their most recent results. |

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### Contents

3 | |

H E Stanley X Gabaix P Gopikrishnan and V Plerou | 18 |

Y Aiba N Hatano H Takayasu K Marumo and T Shimizu | 24 |

T Mizuno S Kurihara M Takayasu and H Takayasu | 30 |

S Micciche F Lillo G Bonanno and R N Mantegna | 43 |

J Kertész L Kullmann A G Zawadowski R Karadi and K Kaski | 50 |

P Ch Ivanov A Yuen B Podobnik and Y | 58 |

Y Kumagai | 64 |

Inferring of Trade Direction by Imbalance from IntraDay Data | 146 |

SelfModulation Processes in Financial Markets | 155 |

Deterministic and Stochastic Inﬂuences on Japan and US Stock and Foreign | 161 |

K Ivanova M Ausloos and H Takayasu | 169 |

E R Pike and E G Klepﬁsh | 180 |

64 | 197 |

103 | 206 |

117 | 222 |

T | 70 |

Correlation Coefﬁcients between Stocks and those Distributions | 78 |

G Keogh S Sharifi H Ruskin and M Crane | 85 |

24 | 94 |

Patterns of Speculation in Real Estate and Stocks | 103 |

51 | 114 |

Roehner | 117 |

58 | 124 |

Ausloos and K Ivanova | 125 |

New Complex Approach to Market Price Predictions | 131 |

Growth and Fluctuations of Personal Income I | 262 |

1 Income Distribution | 275 |

K Yamamoto S Miyazima R K Koshal M Koshal and Y Yamada | 280 |

Visualization of Business Networks | 293 |

137 | 300 |

A View from an Economist on Econophysics | 310 |

Entropy in the Economy | 315 |

Y Aruka | 330 |

### Other editions - View all

The Application of Econophysics: Proceedings of the Second Nikkei ... Hideki Takayasu Limited preview - 2003 |

The Application of Econophysics: Proceedings of the Second Nikkei ... Hideki Takayasu No preview available - 2012 |

The Application of Econophysics: Proceedings of the Second Nikkei ... Hideki Takayasu No preview available - 2012 |

### Common terms and phrases

agents analysis analyze asset autocorrelation behavior business networks coefﬁcients commodities companies complex conﬁrmed correlation crash currency daily deﬁned deﬁnition dynamics economic Econophysics empirical endogenous equation equilibrium estimated exchange market exchange rate exponent exponential ﬁeld ﬁgure ﬁnd ﬁrst ﬁt ﬁxed Fokker-Planck equation foreign exchange foreign exchange market fractal function Gopikrishnan income independent component analysis indices inﬂuence interval Japan Japanese KOSPI matrix moving average multifractal NASDAQ NIKKEI Nord Pool observed obtain parameters Pareto Pareto’s law period Phys physics plot portfolio power law prediction price changes price ﬂuctuations price peaks probability distribution proﬁt properties random ratio reﬂects returns risk saving propensity scale sector shareholder shock shows signiﬁcant simulation Sornette speciﬁc spot prices statistical stochastic stock market stock price strategy Sumitomo-Mitsui Bank Takayasu theory tion Tokyo trading transaction University variables variance volatility