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Sicily has played an important role in the development of the new research area named Econophysics. In fact some key ideas supporting this new hybrid discipline were originally formulated in a pioneering work of the Sicilian born physicist Ettore Majorana. The article he wrote was entitled The value of statistical laws in physics and social sciences. I will discuss its origin and history that has been recently discovered in the study of Stefano Roncoroni. This recent study documents the true reasons and motivations that triggered the pioneering work of Majorana. It also shows that the description of this work provided by Edoardo Amaldi was shallow and misleading. In the second part of the talk I will recollect the first years of development of econophysics and in particular the role of the International Workshop on Econophysics and Statistical Finance held in Palermo on 28-30 September 1998 and the setting in 1999 of the Observatory of Complex Systems the research group on Econophysics of Palermo University and Istituto Nazionale di Fisica della Materia.
Research activities of Kyoto Econophysics Group is reviewed. Strong emphasis has been placed on real economy. While the initial stage of research was a first high-definition data analysis on personal income, it soon progressed to firm dynamics, growt
Socio-economic inequality is measured using various indices. The Gini ($g$) index, giving the overall inequality is the most commonly used, while the recently introduced Kolkata ($k$) index gives a measure of $1-k$ fraction of population who possess
The importance of the power law has been well realized in econophysics over the last decade. For instance, the distribution of the rate of stock price variation and of personal assets show the power law. While these results reveal the striking scale
We introduce here very briefly, through some selective choices of problems and through the sample computer simulation programs (following the request of the editor for this invited review in the Journal of Physics Through Computation), the newly deve
This article aims at reviewing recent empirical and theoretical developments usually grouped under the term Econophysics. Since its name was coined in 1995 by merging the words Economics and Physics, this new interdisciplinary field has grown in vari