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Power law for ensembles of stock prices

✍ Scribed by Taisei Kaizoji; Michiyo Kaizoji

Publisher
Elsevier Science
Year
2004
Tongue
English
Weight
173 KB
Volume
344
Category
Article
ISSN
0378-4371

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✍ Xavier Gabaix; Parameswaran Gopikrishnan; Vasiliki Plerou; Eugene Stanley πŸ“‚ Article πŸ“… 2007 πŸ› Elsevier Science 🌐 English βš– 186 KB

We survey a theory (first sketched in Nature in 2003, then fleshed out in the Quarterly Journal of Economics in 2006) of the economic underpinnings of the fat-tailed distributions of a number of financial variables, such as returns and trading volume. Our theory posits that they have a common origin