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This article is cited in 5 scientific papers (total in 5 papers)
Nonlinear financial averaging, the evolution process,
and laws of econophysics
V. P. Maslov M. V. Lomonosov Moscow State University, Faculty of Physics
Abstract:
The similarities and differences between methods as well as results
of financial
mathematics and quantum statistics can be of use for both sciences.
We consider a process that
gives the Gibbs distribution and financial averaging in the limit.
The laws of econophysics for
buyers are studied, which result in “phase transitions”
such as stock price breakouts or
defaults. The Pareto and Gauss distributions are obtained for
the income and expenditures of
various social groups. The notion of turnover rate of capital for
a quasi-stable state of society is introduced.
Keywords:
evolution process, econophysics, Pareto distribution, information reduction, stock, finance.
Received: 23.04.2004
Citation:
V. P. Maslov, “Nonlinear financial averaging, the evolution process,
and laws of econophysics”, Teor. Veroyatnost. i Primenen., 49:2 (2004), 269–296; Theory Probab. Appl., 49:2 (2005), 221–244
Linking options:
https://www.mathnet.ru/eng/tvp219https://doi.org/10.4213/tvp219 https://www.mathnet.ru/eng/tvp/v49/i2/p269
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Abstract page: | 1060 | Full-text PDF : | 241 | References: | 173 |
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