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Persistent link: https://www.econbiz.de/10008467053
The scientific study of complex systems has transformed a wide range of disciplines in recent years, enabling researchers in both the natural and social sciences to model and predict phenomena as diverse as earthquakes, global warming, demographic patterns, financial crises, and the failure of...
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We develop the concept of “dragon-kings” corresponding to meaningful outliers, which are found to coexist with power laws in the distributions of event sizes under a broad range of conditions in a large variety of systems. These dragon-kings reveal the existence of mechanisms of...
Persistent link: https://www.econbiz.de/10003971094
This short review presents a selected history of the mutual fertilization between physics and economics, from Isaac Newton and Adam Smith to the present. The fundamentally different perspectives embraced in theories developed in financial economics compared with physics are dissected with the...
Persistent link: https://www.econbiz.de/10010411863
Humankind is confronted with a "nuclear stewardship curse'', facing the prospect of needing to manage nuclear products over long time scales in the face of the short-time scales of human polities. I propose a super Manhattan-type effort to rejuvenate the nuclear energy industry to overcome the...
Persistent link: https://www.econbiz.de/10011296090
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The scientific study of complex systems has transformed a wide range of disciplines in recent years, enabling researchers in both the natural and social sciences to model and predict phenomena as diverse as earthquakes, global warming, demographic patterns, financial crises, and the failure of...
Persistent link: https://www.econbiz.de/10014488373
Persistent link: https://www.econbiz.de/10001454330