Definition of "econophysics" [econophysics]

• The study of economics using the techniques of physics (noun)

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• "Economists who wanted to study income distribution using older macroeconomic theories in the latter half of the 20th century had a hard time finding funding for their research, Nell said, while an approach known as econophysics was flush with cash."
• "OTOH, we now have "econophysics," which is physicists doing economics using physics models."
• "A Purdue University researcher has used "econophysics" to show that under ideal circumstances free markets promote fair salaries for workers and do not support CEO compensation practices common."