Statistical finance is the application of econophysics to financial markets. Instead of the normative roots of finance, it uses a positivist framework. It includes exemplars from statistical physics with an emphasis on emergent or collective properties of financial markets. Empirically observed stylized facts are the starting point for this approach to understanding financial markets.
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In this Dossier
Econophysics in the context of King effect
In statistics, economics, and econophysics, the king effect is the phenomenon in which the top one or two members of a ranked set show up as clear outliers. These top one or two members are unexpectedly large because they do not conform to the statistical distribution or rank-distribution which the remainder of the set obeys.
Distributions typically followed include the power-law distribution, that is a basis for the stretched exponential function, and parabolic fractal distribution.The King effect has been observed in the distribution of:
Econophysics in the context of Hokky Situngkir
Hokky Situngkir (born February 7, 1978) is an Indonesian scientist who researches complexity theory at Surya University. He is the founder of the Bandung Fe Institute, a research institute for social complexity research. His academic activities include research regarding the aspects of fractal geometry in Indonesian Batik, mathematical aspects of Indonesian traditional folk songs and in the architecture of Borobudur, as well as Indonesian stock market analysis with econophysics alongside Indonesian senior physicist Yohanes Surya. Situngkir helped create the Indonesian Digital Library of Traditional Culture (Perpustakaan Digital Budaya Indonesia) in order to increase public access to information about the diversity of traditional Indonesian culture, for the further application of data sciences.