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An economic and financial exploratory

Cincotti, S. ; Sornette, D. ; Treleaven, P. ; Battiston, S. ; Caldarelli, G. ; Hommes, C. ; Kirman, A.

In: The European Physical Journal Special Topics, 2012, vol. 214, no. 1, p. 361-400

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    Titre
    • An economic and financial exploratory
    Auteur
    • Cincotti, S.. University of Genoa, Genoa, Italy
    • Sornette, D.. ETH Zurich, Zurich, Switzerland
    • Treleaven, P.. University College London, London, UK
    • Battiston, S.. ETH Zurich, Zurich, Switzerland
    • Caldarelli, G.. IMT Alti Studi Lucca and ISC-CNR Rome, Rome, Italy
    • Hommes, C.. CeNDEF, University of Amsterdam, Amsterdam, The Netherlands
    • Kirman, A.. GREQAM Marseille, Marseille, France
    Type de document
    • Postprint
    Langue
    • Anglais
    Publié dans
    • The European Physical Journal Special Topics, 2012, vol. 214, no. 1, p. 361-400. Springer-Verlag
    Autre version électronique
    Classification
    • Physique
    Identifiant OAI-PMH
    • oai:doc.rero.ch:314748
    Summary
    This paper describes the vision of a European Exploratory for economics and finance using an interdisciplinary consortium of economists, natural scientists, computer scientists and engineers, who will combine their expertise to address the enormous challenges of the 21st century. This Academic Public facility is intended for economic modelling, investigating all aspects of risk and stability, improving financial technology, and evaluating proposed regulatory and taxation changes. The European Exploratory for economics and finance will be constituted as a network of infrastructure, observatories, data repositories, services and facilities and will foster the creation of a new cross-disciplinary research community of social scientists, complexity scientists and computing (ICT) scientists to collaborate in investigating major issues in economics and finance. It is also considered a cradle for training and collaboration with the private sector to spur spin-offs and job creations in Europe in the finance and economic sectors. The Exploratory will allow Social Scientists and Regulators as well as Policy Makers and the private sector to conduct realistic investigations with real economic, financial and social data. The Exploratory will (i) continuously monitor and evaluate the status of the economies of countries in their various components, (ii) use, extend and develop a large variety of methods including data mining, process mining, computational and artificial intelligence and every other computer and complex science techniques coupled with economic theory and econometric, and (iii) provide the framework and infrastructure to perform what-if analysis, scenario evaluations and computational, laboratory, field and web experiments to inform decision makers and help develop innovative policy, market and regulation designs. Graphical abstract