- #1
ninar
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Hello, this article caught my attention:
"Physical Modelling of Quantum Economies"
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1304630
It intents to develop dynamic economic models based on physical systems. So for example: it introduces the concept of "price-space"; substitutes homo oscillans (oscillating man) instead of homo economicus; "wave function of the economy" obviously analogous to the physics counterpart, it even borrows the letter ψ! For some reason, the author reserves the Hamiltonian operator for "further application", hoping that maaaybe someday somebody expands the theory and actually finds some use for it. Further comparisons are drawn to Schrodinger's equation... excited states...
It doesn't seem all too crazy for me. Could this be succesful? To compare economic behavior with physics?
Also, I am fairly familiar with the mathematics used for the classical economic models described in the paper (i'm an economics student) but I don't quite understand the math used in the "quantum economy" part. Help with it please? Would you like to share your impressions?
mariana
"Physical Modelling of Quantum Economies"
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1304630
It intents to develop dynamic economic models based on physical systems. So for example: it introduces the concept of "price-space"; substitutes homo oscillans (oscillating man) instead of homo economicus; "wave function of the economy" obviously analogous to the physics counterpart, it even borrows the letter ψ! For some reason, the author reserves the Hamiltonian operator for "further application", hoping that maaaybe someday somebody expands the theory and actually finds some use for it. Further comparisons are drawn to Schrodinger's equation... excited states...
It doesn't seem all too crazy for me. Could this be succesful? To compare economic behavior with physics?
Also, I am fairly familiar with the mathematics used for the classical economic models described in the paper (i'm an economics student) but I don't quite understand the math used in the "quantum economy" part. Help with it please? Would you like to share your impressions?
mariana
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