Preferential growth: solution and application to modeling stock market

L. Kullmann and J. Kertész

Physica A: Statistical Mechanics and its Applications, 2001, vol. 299, issue 1, 121-126

Abstract: We consider a preferential growth model where particles are added one by one to the system consisting of clusters of particles. A new particle can either form a new cluster (with probability q) or join an already existing cluster with a probability proportional to the size thereof. We calculate exactly the probability Pi(k,t) that the size of the ith cluster at time t is k. We applied our model as a background for a microscopic economic model.

Keywords: Preferential growth; Modeling stock market (search for similar items in EconPapers)
Date: 2001
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:299:y:2001:i:1:p:121-126

DOI: 10.1016/S0378-4371(01)00286-2

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