This study provides an explanation for the emergence of power laws in asset trading volume and returns. We consider a two‐state model with binary actions, where traders infer other traders' private signals regarding the value of an asset from their actions and adjust their own behavior...

In science, research teams are increasing in size, which suggests that science is becoming more organisational. This paper aims to empirically investigate the effects of the division of labour in management and science on serendipity, which has been considered one of the great factors in...