Applications of Physics
in Financial Analysis 4
13 TO 15 November 2003, Warsaw University of
Technology, Warsaw, POLAND
The Opening Lecture will be presented by Ryszard Kokoszczyński
name of Leszek Balcerowicz, President of the National Bank of Poland.
Because of a large interest in the APFA4 Conference we
encourage all researchers working in Econophysics
as well as market practitioners who plan to attend our meeting to
as soon as possible at our web site
What is Econophysics?
is a new, rapidly developing area of interdisciplinary science that
attracts both economists looking for advanced models of economical
processes as well as physicists interested in application of physical
methods for quantitative market analysis and modeling economic systems.
This development is possible due to new universal paradigms such as
random matrix theory, self-organized criticality, active agents approach,
scaling theory, detrended fluctuation analysis, correlation dimensions,
conditional entropies or evolving networks that have recently appeared in
statistical physics, nonlinear dynamics or physics of complex systems and
are now widely used in economy and finance. On the other hand the world
economy is strongly influenced by new telecommunication techniques and
globalization processes that induce complex cooperative behaviour of world
markets. As a consequence new models or calculation techniques able to
capture the new features need to be developed.
It is now widely accepted that
physicists can effectively collaborate with economists or market
specialists. In fact over the last years many physicists found positions
in banks and other financial institutions providing support to experts for
risk analysis or market dynamics. Recently several Universities have begun
to offer special courses in econophysics or combined graduate studies in
physics and economy.
of this Conference is to bring together financial
market practitioners and researchers using various concepts of
econophysics. Special sessions will be devoted to a general review of
econophysics, macroeconomical models, game theory in economy, agents,
networks and complex economic models, scaling laws and stochastic
processes for economic models, risk analysis, foreign exchange markets,
time series analysis for financial markets and teaching of econophysics.
is a continuation of the series of similar meetings that took place in
Dublin (1999), Liege (2000) and London (2001). We hope that the meeting
will accelerate the future econophysics development.