This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and algebraic formula for a large economy analogous to the ideal gas law of thermodynamics is proposed. It may be...

Die Diskussion um das digital divide oder die digitale Spaltung, wie sie für den deutschsprachigen Raum übersetzt wird, wird nun schon seit nahezu zehn Jahren intensiv geführt.1 Vor allem im Rahmen der politischen Diskussion hat sich das Bedrohungsszenario einer digitalen Spaltung innerhalb...

Software has gone from obscurity to indispensability in less than fifty years. Although other industries have followed a similar trajectory, software and its supporting industry are different. In this book the authors explain, from a variety of perspectives, how software and the software...

The Internet has rapidly become an important element of the economic system. The lack of accepted metrics for economic analysis of Internet transactions is therefore increasingly problematic. This book, one of the first to bring together research on Internet engineering and economics, attempts...

Using numerical simulations and scaling theory we study the dynamics of the world-wide Web from the growth rules recently proposed in Tadić (Physica A 293 (2001) 273) with appropriate parameters. We demonstrate that the emergence of power-law behavior of the out- and in-degree distributions in...

Today, Alchian's "Uncertainty, evolution and economic theory" (1950) is hailed by evolutionary economists as a most important piece, which resumed an evolutionary brand of theorizing in economics after the eclipse of the interwar period. On the other hand, Alchian's article is also cherished by...

We study the relation between the trading behavior of agents and volatility in toy markets of adaptive inductively rational agents. We show that excess volatility, in such simplified markets, arises as a consequence of (i) the neglect of market impact implicit in price taking behavior and of...

We propose a general framework to study the stability of the subspace spanned by P consecutive eigenvectors of a generic symmetric matrix H0 when a small perturbation is added. This problem is relevant in various contexts, including quantum dissipation (H0 is then the Hamiltonian) and financial...

The lecture notes give an introduction to some aspects of fluctuations in driven systems. First, a particularly straightforward derivation of fluctuation theorems and their relation to linear response will be given. Being particularly simple the derivation gives clear limitations on the regime...

Effects of the averaging over disorder realizations (samples) on the phase behavior are analyzed in terms of the mean field approximation for the random field Ising model with infinite range interactions. It is found that the averaging is equivalent to a drastic modification in the statistics of...