The history of trade is a progression from a pure barter system. A medium of exchange emerges autonomously in the market, a position currently occupied by money. We investigate an agent-based computational economics model consisting of interacting agents considering distinguishable properties of...

We empirically investigated the effects of market factors on the information flow created from N(N−1)/2 linkage relationships among stocks. We also examined the possibility of employing the minimal spanning tree (MST) method, which is capable of reducing the number of links to N−1. We...

We investigated the express bus flow in Korea and its network topology. By using a gravity type model, we found that the bus flow between cities depends on the square root of the product of the population size of city A and the population size of city B. On the other hand, the total bus flow of...

In this paper, we studied the dynamics of the log-return distribution of the Korean Composition Stock Price Index (KOSPI) from 1992 to 2004. Based on the microscopic spin model, we found that while the index during the late 1990s showed a power-law distribution, the distribution in the early...

We establish in this study a network structure of the Korean stock market, one of the emerging markets, with its minimum spanning tree through the correlation matrix. Based on this analysis, it is found that the Korean stock market does not form the clusters of the business sectors or of the...

In this study, we attempted to determine how eigenvalues change, according to random matrix theory (RMT), in stock market data as the number of stocks comprising the correlation matrix changes. Specifically, we tested for changes in the eigenvalue properties as a function of the number and type...

We investigate the strength and the direction of information transfer in the US stock market between the composite stock price index of stock market and prices of individual stocks using the transfer entropy. Through the directionality of the information transfer, we find that individual stocks...

We introduced a two-layer network model for the study of the immunization dynamics in epidemics. Spreading of an epidemic is modeled as an excitatory process in a Watts–Strogatz small-world network (infection layer) while immunization by prevention of the disease as a dynamic process in a...

We study the complexity of the stock market by constructing ε-machines of Standard and Poor's 500 index from February 1983 to April 2006 and by measuring the statistical complexities. It is found that both the statistical complexity and the number of causal states of constructed ε-machines...