A complex system consists of a lot of interactive individuals, agents, or units. It occurs widely but is hard to model in both natural and social sciences. Its behavior is neither regular nor random. However, it has some kinds of structures which capture our interesting to study. We can apply...

We study individual coherent preferences underlying asset prices and propose a set of explicit models for nonlinear V-shaped price pressure utility in a new framework. Coherent preferences are consistent interactive choices between momentum trading and reversal trading in stock market where...

This paper applies a price-volume probability wave differential equation to examine an interacting traders’ preference hypothesis using tick-by-tick high frequency data in Chinese stock market, and provides a new behavioral interpretation on the market dynamic equilibrium. We select intraday...

This is the revised presentation slides for the paper entitled “what is the underlying coherent behavior in market dynamic equilibrium?” after we have got feedbacks from anonymous referees, discussants, session chairs, and participants at 2022 Economics of Financial Technology Conference...

The authors believe that the wage system and the price structure are the two most critical variables that will influence the future development and success or failure of China's economic modernization. They explore current wages among urban workers and the determinants of the bonus system in...