Superstatistics in Econophysics
Yoshikazu Ohtaki and
Hiroshi H. Hasegawa
Papers from arXiv.org
Abstract:
We consider an ideal closed stock market, in which 100 traders have economic activities. The assets of the traders change through buying and selling stocks. We simulate the assets under conservation of both total currency and total number of stocks. If the traders are identical, then the assets are distributed as a stationary Gaussian. When variety among the traders makes winners and losers, the asset distribution displays power law scaling such as the Pareto law. We discuss this power law scaling from the point of view of superstatistics. It is given as a superposition of scaled distributions for each hierarchical level. The various traders have the same growth rate distribution to keep the scaling.
Date: 2003-12
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://arxiv.org/pdf/cond-mat/0312568 Latest version (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:cond-mat/0312568
Access Statistics for this paper
More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().