Economics: the next physical science?

J. Doyne Farmer (), Martin Shubik and Eric Smith

No 1520, Cowles Foundation Discussion Papers from Cowles Foundation, Yale University

Abstract: We review an emerging body of work by physicists addressing questions of economic organization and function. We suggest that, beyond simply employing models familiar from physics to economic observables, remarkable regularities in economic data may suggest parts of social order that can usefully be incorporated into, and in turn can broaden, the conceptual structure of physics.

Keywords: Economic theory; Physics; Econo-physics (search for similar items in EconPapers)
JEL-codes: B49 C00 G00 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-hpe and nep-tid
Date: 2005-06
Note: CFP 1160.
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Published in Physics Today (September 2005), 37-42

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Persistent link: http://EconPapers.repec.org/RePEc:cwl:cwldpp:1520

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