This paper reviews a number of recent contributions that demonstrate that a blend of welfare economics and statistical analysis is useful in the evaluation of the citations received by scientific papers in the periodical literature. The paper begins by clarifying the role of citation analysis in...

Practicing managers live in a world of ‘extremes’ but management research is based on Gaussian statistics that rule out those extremes. On occasion, deviation amplifying mutual causal processes among interdependent data points cause extreme events characterized by power laws. They...

Distributions of many variables of interest in developed economic and financial markets, including income and wealth, exhibit heavy tails as in the case of Pareto or power laws. Many commonly used income and wealth inequality measures are very sensitive to extremes and outliers generated by...

We survey a theory (first sketched in Nature in 2003, then fleshed out in the Quarterly Journal of Economics in 2006) of the economic underpinnings of the fat-tailed distributions of a number of financial variables, such as returns and trading volume. Our theory posits that they have a common...

Reduced dimensionality in two dimensions is a topic of current interest. We use model systems to investigate the statistical mechanics of ideal networks. The tilings have possible applications such as the 2D locations of pore sites in nanoporous arrays (quantum dots), in the 2D hexagonal...

Pareto distributions, and power laws in general, have demonstrated to be very useful models to describe very different phenomena, from physics to finance. In recent years, the econophysical literature has proposed a large amount of papers and models justifying the presence of power laws in...

The scaling properties of multiple fragmentation were examined by Monte Carlo simulations in continuum percolation, in which inclusion particles, i.e., overlapping discs and spheres, were assumed to be connected if they overlapped. Each inclusion particle may be multiply connected to other...

Rank-ordering analysis is applied to the intertimes between seismic events recorded in the Apennine belt between 40–42° N and 14–16° E from the 15th century onwards. It shows a power law capable of governing the intertimes between 1529 and 368 months and another power law which...

We introduce a simple generalization of rational bubble models which removes the fundamental problem discovered by Lux and Sornette (J. Money, Credit and Banking, preprint at http://xxx.lanl.gov/abs/cond-mat/9910141) that the distribution of returns is a power law with exponent <1, in contradiction with empirical data. The idea is that the price fluctuations associated with bubbles must on average grow with the mean market return r. When r is larger than the discount rate rδ, the distribution of returns of the observable price, sum of the bubble component and of the fundamental price, exhibits an intermediate tail with an exponent which can be larger than 1. This regime r>rδ corresponds...</1,>