Approximation probabilities, the law of a quasi-stable market, and a phase transition from the ``condensate state
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Publication:2455153
zbMATH Open1127.82310arXivmath/0307265MaRDI QIDQ2455153
Publication date: 22 October 2007
Published in: Doklady Mathematics (Search for Journal in Brave)
Abstract: For common people, in contrast to brokers, bankers, and those who play on rising and falling prices of stocks, the stock market law is based on the simple fact that the depositors aim for financial profit at any given concrete stage. The common depositor cannot cause any significant variations in prices. This concept suggests an analogy with the quasistable physics, i.e., thermodynamics, in the situation in which the temperature varies slowly along with the external conditions. Therefore, in the quasistable market, we can see phase transitions similar to those in the situation of the Bose-condesate in thermodynamics. We stress the positive role of information for common depositors and the possibility of changing bonds of large denomination into bonds of small denomination.
Full work available at URL: https://arxiv.org/abs/math/0307265
Applications of statistical and quantum mechanics to economics (econophysics) (91B80) Dynamic and nonequilibrium phase transitions (general) in statistical mechanics (82C26)
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