Dresden 2011 – scientific programme

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SOE: Fachverband Physik sozio-ökonomischer Systeme

SOE 17: Socio-Economic Systems

SOE 17.3: Talk

Wednesday, March 16, 2011, 17:45–18:00, GÖR 226

Measuring Non-Quantitative Parameters - A Source for Enriching Socioeconomic Physics? — •Alexander an Haack, Paul Flachskampf, and Sabina Jeschke — Institute for Management Cybernetics e. V., Associate Institute of RWTH Aachen University, Germany

Over the past two decades, the discipline of socioeconomic physics has spread its reach from analyzing stock market behavior to collective opinion formation to road traffic. One constant within its use cases has been the availability of quantitative data. By applying statistical physics via modern age computation to vast amounts of socioeconomic data, this young discipline has managed to create insights, which were not feasible through the classical methods of econometrics. Yet, socioeconomic systems are by definition based on psychological and social phenomena, which commonly cannot be directly measured on interval or ratio scales. As management cybernetics scientists, with years of experience in interpreting corporate soft facts, we will share our knowledge about the quantitative approximation of non-quantitative socioeconomic parameters with the Phi-SOE community. In order to enrich the existing physical analysis of socioeconomic systems, we present our taxonomy for the evaluation of quantifying measurement methods as well as one of their successful examples (NOWS).