We present a non-conventional approach for studying the distribution of wealth in society. We analyze data from the 1996 Forbes 400 list of the richest people in the US. Our results confirm that wealth is distributed according to a power law. The measured exponent of the power-law is 1.36. As...

The LLS stock market model is a model of heterogeneous quasi-rational investors operating in a complex environment about which they have incomplete information. We review the main features of this model and several of its extensions. We study the effects of investor heterogeneity and show that...

We investigate the properties of mean-variance efficient portfolios when the number of assets is large. We show analytically and empirically that the proportion of assets held short converges to 50% as the number of assets grows, and the investment proportions are extreme, with several assets...

Allowing patients to take part in the initial investment for the development of cures for their illnesses can, under certain conditions, lead to the development of drugs that would have otherwise not been developed and to a dramatic welfare increase. We theoretically analyze these conditions....

Rhodium metal deposited on a cordierite support, in the form of a honeycomb or foam, was placed in a quartz reactor in the focal zone of the Schaeffer Solar Furnace at the Weizmann Institute of Science. It was used as a catalyst for the CO2 reforming of methane. The concentrated direct radiation...

A detailed computer model that incorporates the principal optical and thermal parameters of the system used in the gasification of oil shale by concentrated solar flux has been developed. The results of the calculations agree reasonably well with the experimental data. This model can serve as a...