3rd International Conference on Econophysics and Summer School on Teaching and Enterprise

Department of Physics and School of Science, Loughborough University,

September 24-29, 2011

 

Econophysics is an emerging interdisciplinary field that takes advantage of concepts and methods of statistical physics to analyse economic phenomena. The validity and promise of this approach(e.g., using methods from statistical physics to analyse the success and failure of companies) was demonstrated by a wide range of recent findings relating to the dynamics of companies' development.

By using a deep analogy of economical and financial processes with physical phenomena (treated in many body physics, physical kinetics and statistical mechanics etc), econophysics can predict the growth or death of the company, profit rate and company size optimization, as well as the behaviour, growth and failure of markets and whole economy.

The main goal of the meeting is to expose today's economic problems and other quantitative economic sciences into the shape of the modern physics. The main topics of the conference are: models for high frequency data, econophysics and complex adaptive systems in finance, analogy between neural and financial networks. We plan to address financial market analysis and modeling, complexity approach to economic networks, grinding economic paradigms as the rationality of economic agents, the invisible hand of market and capital market efficiency etc.

The primary aim of this workshop is to provide future econophysicists with a broad perspective of the basic knowledge on the emerging field and on the application of econophysics theory to the financial market and the interdisciplinary studies in mathematics, economics, financial engineering, and physics as well as other fields. The recent financial crisis has stimulated a search for new financial tools. A special attention was given to stability of the financial systems as a whole.

The school will aim to explore the interplay between complexity and stability of financial networks to present new directions in this very fast developing field.

Topics of interest include, but are not limited to

 

Summer school on the teaching Enterprise for a broad audience

Despite of long history of application of mathematical and physical method to economy and enterprise (e.g., Black-Scholes model for option price, simple exchange economy model, SA model), the econophysics as a separate scientific field was only recognized about 10 years ago. Still there is no complete set of training courses in UK Universities. The content of the programme of this summer school is highly interdisciplinary, assuming transfer of know ledges between physics, economics, enterprise and econophysics. School will consist of several short (6 lectures) courses on Econophysics, Enterprise-Entrepreneurship-Innovation, and financial market and enterprise modelling.

Preliminary List of Invited Speakers

 

Lord Robert May (United Kingdom); Haig Farris (Canada); John W Clark (USA); Ion Spanulescu, Anda and Anca Georghiu (Romania); M Ausloos(France); Shu_Heng Chen (Taiwan); Anna Carbone (Italy); Serge Galam (France); Matti Estola (Finland); Nataliie Janson (UK); Karl Kurten (Austria), N Shnerb (Israel); A Vignes (France); E Reshetnyak (Ukraine); T Unkovskaya (Ukraine); V Lisovitsky(Ukraine), Artur Sowa (Canada), A Soofi (USA)

 

Venue

The Workshop will take place in Loughborough, a market town with a population of approximately 50,000. Loughborough is the largest town in the county of Leicestershire in the East Midlands. Attractions in the town itself include a beautiful park, a steam railway and the world's largest bell foundry. It is in the heart of the English countryside with Charnwood Forest on the doorstep and the Peak District, the second most visited National Park in the world, within reach. The thriving Midlands cities of Leicester, Nottingham and Derby are all nearby and they, together with Loughborough, provide a wide variety of cultural and sporting opportunities through their theatres, concert halls, museums and sports facilities.

 

Registration

Please register online before September 16 2011. Abstracts should be emailed to Irina Zagoskina (I.Zagoskina@lboro.ac.uk). The registration fee is 250 sterling before 1 September 2011 and 300 sterling after. Registration is impossible after September 16, 2011 as number of participants is limited. The fee includes accommodation from arrival on September 24th to departure on September 29th  meals, attendance at all sessions, refreshments, conference dinner, conference excursion, conference material.

??????????????????????????????????????????????????????????? Program

September 24

16:30-17:00 Registration. Welcome session. Greeting from Prof. F.Kusmartsev. Head of Physics Department. Loughborough University.

17:00-19:00 Welcome Reception. Physics Department.

September 25

10:00-11:00 A.Carbone. Complexity Aided Design: the FuturICT Technological Innovation Paradigm.

11:00-11:30 Coffee Break

11:30-12:00 R.Giles. Climate Physics

 

12:00-13-00 Lunch brake

13:00- 13:35 S.Galam. Market efficiency, anticipation and the  formation of bubbles-crashes: an application from sociophysics.

13:35-14:05.N.Janson. Self-shaping dynamical systems and their relevance to learning

14:05-14:35 Artur Sowa. Modelling with the Logistic Operator Equation.

16:15-19:00 Heritage Railway Dinner.

September 26

10:00-11:00 Robert May. Stability? and complexity? in model banking systems.

11:00-11:35 Alistair Milne. Fixed capital investment subject to financing constraints.

11:35-12:05 A.Georghiu. Macrostate parametr and investment risk diagrams for the post-2008 crisis period.

12:05-13:05 Lunch Break

13:05-13:35 J.W.Clark. Brains as Baysian Inference Organs: Neural Propagation of Beliefs.

 

13:35-14:05 T.Unkovskaya. Systemic risks of financial crises as emergence effects in complex economic systems.

14:05-14:35 Karl Kurlen. Elastic collisions of hard spheres versus wealth exchange models.

14:35-15:05 Coffee Brake

15:05-16:05 Round Table. Financial crisis: What is better: to print or to cut money????

18:00? Carvery Night.

September 27

10:00-11:00 Shu-Heng Chen. Catastrophes or Dangerous Dynamics in Agent-Based Modular Economy.

11:00-11:35 V.Lisovitsky. Features and Stages of theoretical analyses of selforganizing economic systems.

11:35-12:05 . A.Vignes. Modeling urban housing market dynamics: can the

socio-spatial segregation preserve some social diversity?

 

12:05-13:05 Lunch Break

13:05-13:35 Geoff Willis. Effective Economic Models Using Real and Financial Capital in a Dynamic Framework

13:35-14:05 Coffee Brake

14:05-15:05? M.Ausloos. On financial crashes and useful financial time series analysis techniques

15:05-15:35?? Poster Session

15:35-16:05?? Poster Session

18:00 Conference Dinner. Burleigh Court.

September 28

10:00 ? 11:00 Haig Farris. Physics IS business and why the world should love physicists.

11:00-12:05? F.Kusmartsev

12:05-13:05? Lunch Brake

13:05-13:35 Haig Farris.

13:35-14:05? Poster Session

14:15 Visiting Chatsworth.

 

Social events

September 25th, 16:45, Heritage Railway Dinner.

Voted number 12 on the list of the 50 greatest railway journeys in the world the Great Central Railway is the UK's only double track, main line heritage railway. It?s the only place in the world where full size steam engines can be seen passing each other ?just as it was when steam ruled the rails. Railway travel offers countless pleasures, but best of all must be dining aboard a steam train. Back in the 1950s, travellers could take their seats in the restaurant cars of crack expresses like the 'South Yorkshireman' and the 'Charnwood Forester'. They could become immersed in the thrilling experience of combining good food with excellent service at speed, whilst enjoying the ever absorbing countryside flashing by. As their train ran into a busy platform those people waiting opposite could only enviously regret that they were travelling second class. Today, on Britain's only main line steam railway, passengers can reserve a table and be wined and dined in similar style, savouring sumptuous first class fare with every detail catered for. So, whether you're old or young, climb aboard, relax, and prepare yourself for an experience without equal. At 16.15 the minibus will leave from outside Burleigh Court . The train ride takes 1 hour 15 minutes and return minibus will take you back at 18.15pm.

http://www.gcrailway.co.uk/dining.aspx

 

September 26, 18:00.Carvery night

Explore old English tradition, visit good old English pub. Eating out at Loughborough Toby Carvery is "Just as it should be" - a warm and cosy place to enjoy quality food with family and friends.

http://www.tobycarvery.co.uk/loughboroughleicestershire/

 

September 28th, 15:00. Visiting the Chatsworth.

The home of the Dukes of Devonshire, one of the true Treasure Houses of Britain, set in extensive parklands beside the River Derwent.

Secrets and Symbols House Tour - lasts for approx 1.5 hours
Hidden meanings lie within Chatsworth's 300 year old painted ceilings and walls. Let our guide decode the symbols and discover the stories left by people centuries ago. The couch will leave at 13:30 from outside the Bourleigh Court.

http://www.chatsworth.org/

Registration

Please register online before September 16 2011. Abstracts should be emailed to Irina Zagoskina (I.Zagoskina@lboro.ac.uk). The registration fee is ?250 sterling before 1 September 2011 and ?300 sterling after. Registration is impossible after September 16, 2011 as number of participants is limited. The fee includes accommodation from arrival on September 24th to departure on September 29th  meals, attendance at all sessions, refreshments, conference dinner, conference excursion, conference material.

Accommodation

Burleigh Court

Telephone:

01509 211515

Off Ashby Road (A512)

Loughborough University (West Park)

Loughborough Leicestershire

LE11 3TD

 

(Access Burleigh Court off the A512 Ashby Road and through the University West Park Entrance)

NB: For Satellite Navigation to Burleigh Court & Holywell Park please use LE11 3GR.

 

 

Travel Information to Physics Department

Loughborough is at the heart of England in the northern most part of the county of Leicestershire and being centrally placed it is well served by road, rail and air.

Please, see the travel information on how to get to the Physics Department on

http://www.lboro.ac.uk/departments/ph/about/travel.html.

If you are arriving by car you will need to take junction 23 off the M1 and follow the signs to the university. The postcode for sat nav use is LE11 3TU. At the security gate please inform them you are here to attend the conference. Once through security please follow the yellow signs located along the main university road for Conference Car Parking. These should direct you to car park 5 or car park 5a. If you have any questions regarding any of the above please do not hesitate to contact Victoria Webster v.j.webster@lboro.ac.uk

 

Organizing Committee

Chairman: Feodor V Kusmartsev (F.Kusmartsev@lboro.ac.uk), Head of Physics Department, Chairman of the ESF-AQDJJ Network-Program.

Address

Department of Physics
Loughborough University Loughborough
Leicestershire, LE11 3TU, UK
Telephone: +44 (0) 1509 22 3301
Fax: +44 (0) 1509 22 3986

 

 

Support

The conference is supported by:

European Science Foundation (ESF) Programme: Arrays of Quantum Dots and Josephson Junctions

Imago and

Loughborough University, UK