Based on criteria of mathematical simplicity and consistency with empirical market data, a stochastic volatility model is constructed, the volatility process being driven by fractional noise. Price return statistics and asymptotic behavior are derived from the model and compared with data....

A geometric analysis of return time series, performed in the past, implied that most of the systematic information in the market is contained in a space of small dimension. Here we have explored subspaces of this space to find out the relative performance of portfolios formed from companies that...

Under the conditions prevalent in the late Pleistocene epoch (small hunter-gatherer groups and frequent inter-group conflicts), coevolution of gene-related behavior and culturally transmitted group-level institutions provides a plausible explanation for the parochial altruistic and reciprocator...