Kim, Kyungsik; Yoon, Seong-Min; Choi, J. S.; Takayasu, … - arXiv.org - 2004
We investigate the herd behavior of returns for the yen-dollar exchange rate in the Japanese financial market. It is obtained that the probability distribution $P(R)$ of returns $R$ satisfies the power-law behavior $P(R) \simeq R^{-\beta}$ with the exponents $ \beta=3.11$(the time interval...