Vygintas Gontis, Julius Ruseckas and Aleksejus Kononovicius (2010). A Non-Linear Double Stochastic Model of Return in Financial Markets, Stochastic Control, Chris Myers (Ed.), ISBN: 978-953-307-121-3, Sciyo, Available from: https://www.intechopen.com/books/3748 – the latest review of research, done in the recent years, by scientists from Institute of Theoretical Physics and Astronomy, Vilnius University.

Physical interest in social systems, economics, financial markets and other so-called complex systems is growing for at least the last few decades. We have taken up interest in the financial markets back in 2004. Since then we have participated in European COST project Physics of Risk, which helped us maintain our present course. Recently we were invited to share our results with scientific community through the book named Stochastic Control. In 2010 this book was published by open access publisher sciyo.com, who has made electronic version of this book freely available at https://www.intechopen.com.

Next we briefly discuss our research and the scientific context, thus if you want to familiarize yourself more with our research you should start by reading chapter 27 of aforementioned book.

We, participants of project Science of business and society (lt. Mokslas verslui ir visuomenei), are happy to present renewed website dedicated to Physics of Risk. One of the obvious updates is new theme, but the look of site is not the only thing which has changed - from now on Physics of Risk will also be available in English!

As website is now available in two languages all of the old models, which were created for project Science. Scientists. Society (lt. Mokslas. Mokslininkai. Visuomenė), are now queued for minor improvements and translation. All of the old models are available in the copy of the old Physics of Risk website (though content is available only in Lithuanian).

More about the project and the website of Physics of Risk »

Here you can read the full Memorandum of Understanding for the implementation of a European Concerted Research Action designated as COST Action MP0801: Physics of Competition and Conflicts. See Memorandum of the COST action MP0801 »

There is an interesting phenomenon concerning behavior of ant colony. It appears that if there are two identical food sources nearby, ants exploit only one of them at a given time. The interesting thing is that used food source is not certain at any point of time. At some times switch between food sources occur though the quality of food sources remains the same. In 1993 Alan Kirman proposed that this could happen due to importance of herding behavior in ant colonies [1].