Preferential growth: solution and application to modeling stock market

We consider a preferential growth model where particles are added one by one to the system consisting of clusters of particles. A new particle can either form a new cluster (with probability q) or join an already existing cluster with a probability proportional to the size thereof. We calculate exactly the probability Pi(k,t) that the size of the ith cluster at time t is k. We applied our model as a background for a microscopic economic model.

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Year of publication:	2001
Authors:	Kullmann, L. ; Kertész, J.
Published in:	Physica A: Statistical Mechanics and its Applications. - Elsevier, ISSN 0378-4371. - Vol. 299.2001, 1, p. 121-126
Publisher:	Elsevier
Subject:	Preferential growth \| Modeling stock market

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010874915