Traders in a market typically have widely different, private information on the return of an asset. The equilibrium price of the asset may reflect this information more accurately if the number of traders is large enough compared to the number of the states of the world that determine the return...

Traders in a market typically have widely different, private information on the return of an asset. The equilibrium price of the asset may reflect this information more accurately if the number of traders is large enough compared to the number of the states of the world that determine the return...

No abstract received.

In our model, $n$ traders interact with each other and with a central bank; they are taxed on the money they make, some of which is dissipated away by corruption. A generic feature of our model is that the richest trader always wins by 'consuming' all the others: another is the existence of a...

We present a simple model of a vibrated box of sand, and discuss its dynamics in terms of two parameters reflecting static and dynamic disorder respectively. The fluidised, intermediate and frozen (`glassy') dynamical regimes are extensively probed by analysing the response of the packing...

This paper discusses a simple two-species ripple model with avalanching. The effect of the avalanching term is investigated numerically, and is found to be crucial in producing realistic ripple profiles.

Our model of shaken sand, presented in earlier work, has been extended to include a more realistic 'glassy' state, i.e. when the sandbox is shaken at very low intensities of vibration. We revisit some of our earlier results, and compare them with our new results on the revised model. Our...