This is a paperback edition of a distinguished book, originally published by Clarendon Press in 1971. It was then the first text on critical phenomena, a field that has enjoyed great activity for the past twenty years and that still continues to attract much attention. The book is at the level at wh[...]
This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The aut[...]