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NEW EVIDENCE FOR THE POWER-LAW DISTRIBUTION OF WEALTH
We present a non-conventional approach for studying the distribution of wealth in society. We analyze data from the 1996 Forbes 400 list of the richest people in the US. Our results confirm thatExpand
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A microscopic model of the stock market: Cycles, booms, and crashes
Abstract We present a model of the stock market based on the behavior of individual investors. Simulations exhibit rich phenomena which include cycles, booms, and crashes. Low dividend yield and moreExpand
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Microscopic Simulation of Financial Markets
Microscopic Simulation (MS) uses a computer to represent and keep track of individual ("microscopic") elements in order to investigate complex systems which are analytically intractable. AExpand
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POWER LAWS ARE LOGARITHMIC BOLTZMANN LAWS
Multiplicative random processes in (not necessarily equilibrium or steady state) stochastic systems with many degrees of freedom lead to Boltzmann distributions when the dynamics is expressed inExpand
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The Forbes 400 and the Pareto wealth distribution
Abstract Statistical regularities at the top end of the wealth distribution are examined using the Forbes 400 lists during 1988–2003. We find that the wealth is distributed according to a ParetoExpand
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Microscopic Simulation of Financial Markets: From Investor Behavior to Market Phenomena
From the Publisher: "Levy, Levy, and Solomon's Microscopic Simulation of Financial Markets points us towards the future of financial economics. If we restrict ourselves to models which can be solvedExpand
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The Fundamental Templates of Quality Ads
Creative ideation is a highly complex process, which is difficult to formalize and control. Evidently, even in a complex thinking context certain patterns of creativity may emerge. Relying on suchExpand
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Microscopic Simulation of the Stock Market: the Effect of Microscopic Diversity
Although the representative individual framework has been shown to be generally illegitimate and erroneous, it continues to be widely used for lack of a more suitable approach. In this paper, weExpand
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The importance of being discrete: life always wins on the surface.
Many systems in chemistry, biology, finance, and social sciences present emerging features that are not easy to guess from the elementary interactions of their microscopic individual components. InExpand
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Toward Identifying the Inventive Templates of New Products: A Channeled Ideation Approach
New product ideation might be improved by identifying and applying certain well-defined schemes derived from an historical analysis of product-based trends, termed “templates.” These templates mightExpand
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