PARETO'S LAW, A POST-MODERN RE-EXAMINATION
http://www.lemonde.fr/article/0,2320,seq-2077-90644-QUO,00.html
http://www.newscientist.com/editorial/editorial.jsp?id=ns225264
http://xxx.lanl.gov/abs/cond-mat/0002374
Bouchaud and Mézard say that <.... a transition between an economy dominated
by a few individuals from a situation where the wealth is more evenly spread
out, is found. An interesting outcome is that the distribution of wealth
tends to be very broadly distributed when exchanges are limited, either in
amplitude or topologically. Favoring exchanges (and, less surprisingly,
increasing taxes) seems to be an efficient way to reduce inequalities.>
ECONOPHYSICS
http://www.unifr.ch/econophysics/
http://www.econophysics.org/
http://www.lemonde.fr/article/0,2320,seq-2077-90587-QUO,00.html
A FINANCIAL SINGULARITY (YEAR 2052)
http://xxx.lanl.gov/abs/cond-mat?0002075
THE VALUE OF DOT.COM STOCKS
http://xxx.lanl.gov/abs/cond-mat/0004001
<We find a critical value of this control parameter at which a spontaneous
symmetry-breaking of prices occurs, leading to a spontaneous valuation in
absence of earnings, similarly to the emergence of a spontaneous
magnetization in Ising models in absence of a magnetic field. The low growth
rate phase is described by the firm foundation theory while the large growth
rate phase is the regime of speculation and crowd behavior. In practice,
while large ``finite-time horizon'' effects round off the predicted
singularities, our symmetry-breaking speculation theory accounts for the
apparent over-pricing and the high volatility of fast growing companies on
the stock markets.>
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