Econophysics of Agent-Based Models by Frédéric Abergel Hideaki Aoyama Bikas K. Chakrabarti Anirban Chakraborti & Asim Ghosh

Author:Frédéric Abergel, Hideaki Aoyama, Bikas K. Chakrabarti, Anirban Chakraborti & Asim Ghosh
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

As a physicist, Jan Tinbergen of course knew Netwon’s law very well, a knowledge that might have facilitated making a mathematical connection to the study of international trade. But, we believe, his idea of using the Gravity Model in his research as an economist was most probably triggered by the deeper similarities, discussed above, at the epistemological level. Jan Tinbergen’s familiarity with the scientific method universally used in physics is probably the reason why his many achievements as an economist are all characterized by a strong quantitative approach and a clear focus on empirical data. Without trying to distort scientific and personal history, we might therefore presume that Tinbergen’s view was not too far from what, in modern jargon, are the inspiring concepts of ‘Econophysics’. His Gravity Model of trade can also be regarded as the first model of the system that, in the more recent Complex Networks literature, has been intensively studied under the names of ‘International Trade Network’ (ITN) or ‘World Trade Web’ (WTW) [9, 15–19]. Therefore, in our view, Jan Tinbergen’s pioneering work deserves full attention from the scientific community active in Econophysics and Network Science. Along these lines, the Gravity Model and the ITN, both still under intense investigation, can be considered two brilliant examples of how ideas from physics can fruitfully interact with economic problems.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.