An Introduction to Socio-Finance

Nonfiction, Science & Nature, Science, Other Sciences, System Theory, Business & Finance, Economics, Macroeconomics
Cover of the book An Introduction to Socio-Finance by Jørgen Vitting Andersen, Andrzej Nowak, Springer Berlin Heidelberg
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Jørgen Vitting Andersen, Andrzej Nowak ISBN: 9783642419447
Publisher: Springer Berlin Heidelberg Publication: December 11, 2013
Imprint: Springer Language: English
Author: Jørgen Vitting Andersen, Andrzej Nowak
ISBN: 9783642419447
Publisher: Springer Berlin Heidelberg
Publication: December 11, 2013
Imprint: Springer
Language: English

This introductory text is devoted to exposing the underlying nature of price formation in financial markets as a predominantly sociological phenomenon that relates individual decision-making to emergent and co-evolving social and financial structures.

Two different levels of this sociological influence are considered: First, we examine how price formation results from the social dynamics of interacting individuals, where interaction occurs either through the price or by direct communication. Then the same processes are revisited and examined at the level of larger groups of individuals.

In this book, models of both levels of socio-finance are presented, and it is shown, in particular, how complexity theory provides the conceptual and methodological tools needed to understand and describe such phenomena. Accordingly, readers are first given a broad introduction to the standard economic theory of rational financial markets and will come to understand its shortcomings with the help of concrete examples. Complexity theory is then introduced in order to properly account for behavioral decision-making and match the observed market dynamics.

This book is conceived as a primer for newcomers to the field, as well as for practitioners seeking new insights into the field of complexity science applied to socio-economic systems in general, and financial markets and price formation in particular.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This introductory text is devoted to exposing the underlying nature of price formation in financial markets as a predominantly sociological phenomenon that relates individual decision-making to emergent and co-evolving social and financial structures.

Two different levels of this sociological influence are considered: First, we examine how price formation results from the social dynamics of interacting individuals, where interaction occurs either through the price or by direct communication. Then the same processes are revisited and examined at the level of larger groups of individuals.

In this book, models of both levels of socio-finance are presented, and it is shown, in particular, how complexity theory provides the conceptual and methodological tools needed to understand and describe such phenomena. Accordingly, readers are first given a broad introduction to the standard economic theory of rational financial markets and will come to understand its shortcomings with the help of concrete examples. Complexity theory is then introduced in order to properly account for behavioral decision-making and match the observed market dynamics.

This book is conceived as a primer for newcomers to the field, as well as for practitioners seeking new insights into the field of complexity science applied to socio-economic systems in general, and financial markets and price formation in particular.

More books from Springer Berlin Heidelberg

Cover of the book Contributions to the Psychobiology of Aging by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book City Evacuations: An Interdisciplinary Approach by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Quantitative Methoden 2 by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Delikts- und Schadensersatzrecht by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Selective Bronchography and Bronchial Brushing by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Otfrid Foerster · Physician and Naturalist by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Pathology of the Gastro-Intestinal Tract by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book IT-gestütztes Ressourcen- und Energiemanagement by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Hypnosystemische Perspektiven im Change Management by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Handbook of Computational Finance by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Handbook of Engineering Acoustics by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book The German Prosecution Service by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Non-standard Spatial Statistics and Spatial Econometrics by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Residential Location Choice by Jørgen Vitting Andersen, Andrzej Nowak
Cover of the book Computational Studies of Transition Metal Nanoalloys by Jørgen Vitting Andersen, Andrzej Nowak
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy