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- A Dr, V M Yakovenko
- 2000

In a closed economic system, money is conserved. Thus, by analogy with energy, the equilibrium probability distribution of money must follow the exponential Boltzmann-Gibbs law characterized by an effective temperature equal to the average amount of money per economic agent. We demonstrate how the Boltzmann-Gibbs distribution emerges in computer simulations… (More)

- A Christian Silva, Richard E Prange, Victor M Yakovenko, V M Yakovenko
- 2004

We study the probability distribution of stock returns at mesoscopic time lags (return horizons) ranging from about an hour to about a month. While at shorter microscopic time lags the distribution has power-law tails, for mesoscopic times the bulk of the distribution (more than 99% of the probability) follows an exponential law. The slope of the… (More)

The terms highlighted in bold in Sec. I refer to other articles in this Encyclopedia. This paper reviews statistical models for money, wealth, and income distributions developed in the econophysics literature since late 1990s.

- A Christian Silva, Victor M Yakovenko, V M Yakovenko
- 2007

We present an empirical study of the subordination hypothesis for a stochastic time series of a stock price. The fluctuating rate of trading is identified with the stochastic variance of the stock price, as in the continuous-time random walk (CTRW) framework. The probability distribution of the stock price changes (log-returns) for a given number of trades… (More)

- Yu O Averkov, V M Yakovenko, V A Yampol'skii, Franco Nori
- Physical review letters
- 2012

We predict a complete TM↔TE transformation of the polarization of terahertz electromagnetic waves reflected from a strongly anisotropic boundary of a layered superconductor. We consider the case when the wave is incident on the superconductor from a dielectric prism separated from the sample by a thin vacuum gap. The physical origin of the predicted… (More)

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