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Superstatistics in Econophysics

Authors
  • Ohtaki, Yoshikazu
  • Hasegawa, Hiroshi H.
Type
Preprint
Publication Date
Dec 22, 2003
Submission Date
Dec 22, 2003
Identifiers
arXiv ID: cond-mat/0312568
Source
arXiv
License
Unknown
External links

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.

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