منابع مشابه
Power Laws in Economics and Finance
A power law (PL) is the form taken by a large number of surprising empirical regularities in economics and finance. This review surveys well-documented empirical PLs regarding income and wealth, the size of cities and firms, stock market returns, trading volume, international trade, and executive pay. It reviews detailindependent theoretical motivations that make sharp predictions concerning th...
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We review power laws in financial economics. This is a chapter from a preliminary draft of a book called “Beyond equilibrium and efficiency”. While some of the discussion is specific to economics, most of it applies to power laws in general – the nouns may change, but the underlying questions are similar in many fields. This draft is still preliminary and not entirely finished – comments at any...
متن کاملUniversal laws and economic phenomena
Despite the idiosyncratic behavior of individuals, empirical regularities exist in social and economic systems. These regularities often arise from simple underlying mechanisms which, analogous to the natural sciences, can be expressed as universal principles or laws. In this essay, I discuss the similarities between economic and natural phenomena and argue that it is advantageous for economist...
متن کاملNatural Economics
Introduction Infused into the lives of billions of distinct denizens of this planet is the practice of economic affairs, based primarily on the need to satisfy essential elements of survival and on the need to assure the continuation of the species. This is represented by a mathematically definable branching process underscored by countless daily transactions which, when taken separately, appea...
متن کاملEconomic Theory and Experimental Economics
G theory had its beginnings in economics as a separate topic of analysis, practiced by a cadre of specialists. It has since become commonplace. Every economist is acquainted with the basic ideas, often without notice, and there is free movement between the use of game theory and other techniques. This incorporation as a standard economic tool has helped shape the nature of game theory itself—th...
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ژورنال
عنوان ژورنال: Modern Economy
سال: 2015
ISSN: 2152-7245,2152-7261
DOI: 10.4236/me.2015.61002