The History of Econophysics’ Emergence: A New Approach in Modern Financial Theory

46 Pages Posted: 20 Dec 2018

Date Written: February 1, 2012


Financial economics and mathematical finance are the two traditional scientific disciplines that constitute modern financial theory. Although they still largely dominate modern financial theory, in the past few years a new “player” has increasingly been making itself felt and could lead to a rethinking of some of the theoretical foundations of modern financial theory. This new player is econophysics. Econophysics is a very recent movement that is beginning to interest increasing numbers of financial practionners. To date, no history of econophysics has been produced. This article aims at filling both this gap. It analyses the theoretical foundations of econophysics and their connections with the history of financial economics. It also studies of the reasons underlying the emergence of econophysics and presents the manner in which econophysics has become the third component of modern financial theory.

Keywords: History of Econophysics, history of finance, history of financial economics

JEL Classification: B3, B5, B4, G0

Suggested Citation

Jovanovic, Franck and Schinckus, Christophe, The History of Econophysics’ Emergence: A New Approach in Modern Financial Theory (February 1, 2012). Available at SSRN: or

Franck Jovanovic (Contact Author)

TELUQ University ( email )

5800 St Denis
Montreal, QC H2S 3L4

HOME PAGE: http://

Christophe Schinckus

University of Leicester ( email )

University Road
Leicester, LE1 7RH
United Kingdom

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