Tick size is an important aspect of the micro-structural level organization of financial markets. It is the smallest institutionally allowed price increment, has a direct bearing on the bid–ask spread, influences the strategy of trading order placement in electronic markets, affects the price...

The paper presents an evolutionary economic model for the price evolution of stocks. Treating a stock market as a self-organized system governed by a fast purchase process and slow variations of demand and supply the model suggests that the short term price distribution has the form a logistic...

We study the evolution of the distribution of consumption of individuals in the majority population in China during the period 1995–2012 and find that its probability density functions (PDFs) obey the rule Pc(x)=K(x−μ)e−(x−μ)22σ2. We also find (i) that the PDFs and the individual...

We study the topological properties of the information transfer networks (ITN) of the global financial market indices for six different periods. ITN is a directed weighted network, in which the direction and weight are determined by the transfer entropy between market indices. By applying the...

We first analyze the distribution of metropolitan (city) size, the distribution of metropolitan (city) GDP and the relation of both distributions. It is found that (1) the tails of distributions of size and GDP both obey Pareto Law with the Pareto exponent 1; (2) compared with Pareto exponent in...

In this investigation, we examine the univariate as well as the multivariate capabilities of the log-periodic [super-exponential] power law (LPPL) for the prediction of bank runs. The research is built upon daily CDS spreads of 40 international banks for the period from June 2007 to March 2010,...

Punctuated Equilibrium (PE) states that after long periods of evolutionary quiescence, species evolution can take place in short time intervals, where sudden differentiation makes new species emerge and some species extinct. In this paper, we introduce and study the effect of punctuated...