Scale invariance and universality of economic fluctuations

H. E. Stanley*, L. A N Amaral, P. Gopikrishnan, V. Plerou

*Corresponding author for this work

Research output: Contribution to journalConference articlepeer-review

48 Scopus citations

Abstract

The usefulness of two of the pillars of the field of phase transitions and critical phenomena - scale invariance and universality - in guiding research on economics is discussed. The results of two recent studies - the probability distribution of stock price fluctuations and quantifying business firm fluctuations - are reviewed.

Original languageEnglish (US)
Pages (from-to)31-41
Number of pages11
JournalPhysica A: Statistical Mechanics and its Applications
Volume283
Issue number1
DOIs
StatePublished - Aug 1 2000
EventVI Latin American Workshop on Nonlinear Phenomena LAWNP'99 , The XII MEDYFINOL Conference on 'Statistical Physics of Dynamic and Complex Systems' - Cordoba, Argent
Duration: Oct 12 1999Oct 16 1999

ASJC Scopus subject areas

  • Statistics and Probability
  • Condensed Matter Physics

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