On Mon, 19 Jun 2000, Sandor Bende wrote:
> Hi,
> I am very interested in what you sent to the NG about the "experimental"
> econophysics. Are there any more infos about it, like a Web-page, or e-mails
> of the participants or anything ?
> I'd be very grateful for any help.
>
> Thanks
> Bende Sandor
Indeed, it is a story already appeared in April after the APS meeting.
Here are some further details from Physics News Update.
However, I guess that the idea of using special-purpose circuits or noise
generators for finance calculations is not new at all and there are many
ways of implementing it.
By the way, Hideki Takayasu is among the organizers of a symposium on the
Empirical Science of Financial Fluctuations
(http://web.nikkei-r.co.jp/pfa/english/index.html).
Bye
Enrico
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Physics News Update
The American Institute of Physics Bulletin of Physics News
Number 478 (Story #1), April 6, 2000 by Phillip F. Schewe and Ben Stein
AN ELECTRICAL CIRCUIT MIMICS YEN-DOLLAR FLUCTUATIONS. In one of the latest
examples of econophysics (Update 395), Hideki Takayasu of the Sony
Computer Science Laboratories in Japan ([log in to unmask]) and his
colleagues have designed an electrical circuit with voltage fluctuations
that are highly similar to the fluctuations in a plot of the yen-dollar
exchange rate. The Sony goal is to build a fast calculator for the prices
of options which depend on exchange rates.
In the world of currency exchange, options serve as an insurance policy
for a future exchange rate. Buying an option means that you have the right
to purchase currency at some point in the future at a predetermined price,
even if the actual exchange rate at the time is against your favor.
At the recent APS meeting in Minneapolis, Takayasu showed that graphs of
yen-dollar fluctuations look remarkably similar at different time scales,
suggesting a fractal behavior. The researchers then designed an
inexpensive electrical circuit that produces highly similar fluctuations
by employing naturally occurring electrical noise as the seeds for random
variations. Their circuit costs approximately $5, and it can estimate
yen-dollar fluctuations as fast as the $10,000 workstations that are
running mathematical simulations of the exchange rates.
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