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Special Issue "Complexity in Economic and Social Systems"
Deadline for manuscript submissions: 30 April 2020.
2. Faculty of Computer Science and Telecommunications, Cracov University of Technology, 31-155 Kraków, Poland
Interests: complex systems; nuclear physics; quantum mechanics; multifractals; complex networks; nonlinear dynamics; deterministic chaos; random matrix theory; econophysics; quantitative linguistics
Interests: complex systems; complex networks; financial markets; natural language; fractal analysis
Whether complexity of a system is viewed in the purely intuitive sense of a nontrivial order that emerges spontaneously from an overall disorder or it is grasped more formally using one of several dozen mathematical, physical, and information-theoretic measures, we are surrounded by its signatures and face its manifestations almost everywhere. We are complex ourselves: We live in a society that is complex and we interact with others in a complex way. There is no exaggeration in a statement that our society is the most complex structure known to us in the universe. Social phenomena like the emergence of communication and cooperation, build-up of hierarchies and organizations, opinion formation, the emergence of political systems, and the structure and dynamics of financial markets are all among the iconic examples of the real-world complexity.
Specialists from such disciplines like mathematics, physics, information theory, and data science working together with econometrists, sociologists, quantitative linguists, and psychologists for more than a quarter century have already been dealing with such phenomena trying to describe them in a language of exact science, and to model and explain them using methods and tools that had earlier been applied successfully to natural systems. Although much has already been done and much has been achieved, the complexity of the social and economic systems is still far from being properly understood. This is why every possible effort and every meaningful contribution is welcome as it can bring us closer to the ultimate goal of understanding complexity both in reference to these systems in particular and as a physical phenomenon in general. It is also important to approach the problem from different angles by collecting many interdisciplinary works and views in one place like this Special Issue as human society eludes any narrow-scope, single-discipline analysis.
It thus becomes straightforward that we intend this Special Issue to cover a broad variety of complexity-related topics and methods in the following fields: macroeconomics, financial markets, epidemiology, opinion formation, social systems, quantitative linguistics, and time series analysis. We especially encourage to submit manuscripts that report studies carried out with models of heterogeneous interacting agents, complex networks, multifractal analysis, non-extensive statistical mechanics, and non-extensive entropy.
Prof. Dr. Stanisław Drożdż
Dr. Jarosław Kwapień
Dr. Paweł Oświęcimka
Manuscript Submission Information
Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.
Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Entropy is an international peer-reviewed open access monthly journal published by MDPI.
Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.
- quantitative linguistics
- data science
- time series analysis
- multifractal analysis
- non-extensive entropy
- complex networks
- social systems
- financial markets
- epidemic spreading
The below list represents only planned manuscripts. Some of these manuscripts have not been received by the Editorial Office yet. Papers submitted to MDPI journals are subject to peer-review.
The monetary and complex systems foundations of Minsky's Financial Instability Hypothesis
Professor Steve Keen
Honorary Professor, Institutional Research Information Service, UCL
Abstract: Minsky never developed a mathematical model of his Financial Instabilty Hypothesis, while some extant models (Keen 1995) have been criticized as "ad hoc" (Rosser 1999, p. 62). In this paper I show that my 1995 model can be derived directly from macroeconomic definitions. The resulting model, which manifests the Pomeau-Manneville intermittent route to chaos, can thus be regarded as a foundational macroeconomic model. The famous "Minsky moment" is shown to be an emergent property of this complex systems model. I also explain the dependence of Minsky's hypothesis on the existence of banks that create money by creating loans, in contrast to the empirically criticised "Loanable Funds" model where lending does not create money, and derive the role of credit in aggregate demand from first principles.
Many faces of complexity in econophysics
Prof. Dr. Ryszard Kutner
Centre for Methods of Physics in Economy (Econophysics), University of Warsaw, PL-00681 Warsaw, Poland
New Measure of Economic Development Based on the Four-Colour Theorem
Aleksander Jakimowicz and Daniel Rzeczkowski
Complexity and the studies of modern society: From Kolmogorov to Luhmann
Prof. Czesław Mesjasz
Cracow University of Economics
Macroprudential Policy in a Heterogeneous Environment – An Application of Agent-Based Approach in Systemic Risk Modelling
Mateusz Pipień and Jagoda Kaszowska-Mojsa
Looking at Extremes without Going to Extremes. A new Discrete-Variable Self-Exciting Probability Model for Extreme Losses in Financial Markets
Macroprudential Policy in a Heterogeneous Environment -- Application of Agent-Based Approach in Systemic Risk Modelling
Jagoda Kaszowska-Mojsa 1 and Mateusz Pipień 2,3
1 Institute of Economics Polish Academy of Sciences
2 Cracow University of Economics
3 Department of Empirical Analyses of Economic Stability, Cracow University of Economics, Rakowicka St. 27, 31-510 Cracow, Poland
A Statistical Analysis of entropy variations of multi-scale returns of an optimal trader
A. R. Hernandez Montoya, Horacio Tapia McClung