Showing 41 - 50 of 317
The framework of "Modern Theory of Critical State Transitions"1,2 considers the relation between different levels of organization in complex systems in terms of critical state transitions. A state transition between levels entails changes of scale of observables and, concurrently, new formats of...
Persistent link: https://www.econbiz.de/10005047302
We propose a class of Markovian agent based models for the time evolution of a share price in an interactive market. The models rely on a microscopic description of a market of buyers and sellers who change their opinion about the stock value in a stochastic way. The actual price is determined...
Persistent link: https://www.econbiz.de/10005050517
In this paper, starting from Jaynes' MaxEnt methodology [10, 11], we follow the original idea of Aoki [1] to implement a canonical MaxEnt inference model for the replication of industrial firms' dynamics over a space of economic states. We develop an aggregate model to infer the distributions of...
Persistent link: https://www.econbiz.de/10005050885
Today, Alchian's "Uncertainty, evolution and economic theory" (1950) is hailed by evolutionary economists as a most important piece, which resumed an evolutionary brand of theorizing in economics after the eclipse of the interwar period. On the other hand, Alchian's article is also cherished by...
Persistent link: https://www.econbiz.de/10005450922
Persistent link: https://www.econbiz.de/10005701733
A stochastic numerical scheme for an extended immersed boundary method which incorporates thermal fluctuations for the simulation of microscopic biological systems consisting of fluid and immersed elastica was introduced in reference [2]. The numerical scheme uses techniques from stochastic...
Persistent link: https://www.econbiz.de/10010749097
We review some approaches to the understanding of fluctuations of financial asset prices. Our approach builds on the development of a simple Langevin equation that characterises stochastic processes. This provides a unifying approach that allows first a straightforward description of the early...
Persistent link: https://www.econbiz.de/10010588750
Ising or Potts models of ferromagnetism have been widely used to describe locally interacting social or economic systems. We consider a related model, introduced by Sznajd to describe the evolution of consensus in a society. In this model, the opinion or state of any spins can only be changed...
Persistent link: https://www.econbiz.de/10010588857
The Black–Scholes theory of option pricing has been considered for many years as an important but very approximate zeroth-order description of actual market behavior. We generalize the functional form of the diffusion of these systems and also consider multi-factor models including stochastic...
Persistent link: https://www.econbiz.de/10010589247
In this paper, we present a formulation of statistical mechanics of a thermodynamic system consisting of free particles and independent correlated pairs interacting via nonlocal potential in terms of the scattering properties. Some quantum statistical properties such as energy, heat capacity,...
Persistent link: https://www.econbiz.de/10010589264