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This Colloquium reviews statistical models for money, wealth, and income distributions developed in the econophysics literature since the late 1990s. By analogy with the Boltzmann-Gibbs distribution of energy in physics, it is shown that…

Statistical Finance · Quantitative Finance 2009-12-24 Victor M. Yakovenko , J. Barkley Rosser

Power law cumulative frequency $(P)$ vs. event size $(l)$ distributions $P(\geq l)\sim l^{-\alpha}$ are frequently cited as evidence for complexity and serve as a starting point for linking theoretical models and mechanisms with observed…

Physics and Society · Physics 2009-11-11 M. Manning , J. M. Carlson , J. Doyle

A money-based model for the power law distribution (PLD) of wealth in an economically interacting population is introduced. The basic feature of our model is concentrating on the capital movements and avoiding the complexity of micro…

Other Condensed Matter · Physics 2009-11-10 Yan-Bo Xie , Bo Hu , Tao Zhou , Bing-Hong Wang

I review some numerical ways to determine the parameters of systems close to a first order phase transition point: energy and specific heat of the coexisting phases and interface tension. Numerical examples are given for the 2-d $q$ states…

High Energy Physics - Lattice · Physics 2016-08-31 A. Billoire

The folding of a peptide chain into a three dimensional structure is a thermodynamically driven process such that the chain naturally evolves to form domains of similar amino acids. The formation of this domain occurs by curling the one…

Statistical Mechanics · Physics 2018-02-01 Theja N. De Silva , Vattika Sivised

The theory of Extreme Physical Information (EPI) is used to deduce a probability density function (PDF) of a system that exhibits a power law tail. The computed PDF is useful to study and fit several observed distributions in complex…

Data Analysis, Statistics and Probability · Physics 2011-03-21 Ricardo Bonilla , Roberto Zarama , Juan Alejandro Valdivia

Two known distinct examples of one-dimensional systems which are known to exhibit a phase transition are critically examined: (A) a lattice model with harmonic nearest-neighbor elastic interactions and an on-site Morse potential, and (B)…

Statistical Mechanics · Physics 2007-06-17 N. Theodorakopoulos

We statistically investigate the distribution of share price and the distributions of three common financial indicators using data from approximately 8,000 companies publicly listed worldwide for the period 2004-2013. We find that the…

Economics · Quantitative Finance 2017-02-02 Taisei Kaizoji , Michiko Miyano

We study the metastable equilibrium properties of the Potts model with heat-bath transition rates using a novel expansion. The method is especially powerful for large number of state spin variables and it is notably accurate in a rather…

Statistical Mechanics · Physics 2021-03-18 Onofrio Mazzarisi , Federico Corberi , Leticia F. Cugliandolo , Marco Picco

We study transition paths in energy landscapes over multi-categorical Potts configurations using the mean-field approach introduced by Mauri et al., {\em Phys Rev Lett 130, 158402 (2023)}. Paths interpolate between two fixed configurations…

Quantitative Methods · Quantitative Biology 2023-06-27 Eugenio Mauri , Simona Cocco , Rémi Monasson

We study dynamic behavior of Potts model with invisible states near the first-order phase transition temperature. We focus on melting process starting from the perfect ordered state. This model is regarded as a standard model to analyze…

Statistical Mechanics · Physics 2011-09-30 Shu Tanaka , Ryo Tamura

Power-law distributions occur in many situations of scientific interest and have significant consequences for our understanding of natural and man-made phenomena. Unfortunately, the detection and characterization of power laws is…

Data Analysis, Statistics and Probability · Physics 2009-11-12 Aaron Clauset , Cosma Rohilla Shalizi , M. E. J. Newman

For the zero temperature Glauber dynamics of the $q$-state Potts model, we calculate the exact distribution of domain sizes by mapping the problem on an exactly soluble one-species coagulation model ($A+A\rightarrow A$). In the long time…

Condensed Matter · Physics 2009-10-28 Bernard Derrida , Reuven Zeitak

Tsallis' non-extensive statistical mechanics is claimed to be the correct tool to describe the behaviour of low-dimensional dissipative maps at the edge of chaos. Indeed, many different approaches confirm that, for those systems, the…

Statistical Mechanics · Physics 2007-05-23 F. Sattin

Different models are proposed to understand magnetic phase transitions through the prism of competition between the energy and the entropy. One of such models is a $q$-state Potts model with invisible states. This model introduces $r$…

Statistical Mechanics · Physics 2023-03-06 P. Sarkanych , M. Krasnytska

Gram's Law describes a pattern that frequently occurs in the distribution of the non-trivial zeros of the Riemann zeta function along the critical line. Whenever Gram's Law holds true, it reduces the difficulty of computing the…

Number Theory · Mathematics 2020-06-02 Cătălin Hanga , Christopher Hughes

Skewness and kurtosis are fundamental statistical moments commonly used to quantify asymmetry and tail behavior in probability distributions. Despite their widespread application in statistical mechanics, condensed matter physics, and…

Mathematical Physics · Physics 2025-06-23 Carlo De Michele , Samuele De Bartolo

We investigate into the rank-size distributions of urban agglomerations for India between 1981 to 2011. The incidence of a power law tail is prominent. A relevant question persists regarding the evolution of the power tail coefficient. We…

Physics and Society · Physics 2015-06-04 Kausik Gangopadhyay , Banasri Basu

The moment analysis method and nuclear Zipf's law of fragment size distributions are reviewed to study nuclear disassembly. In this report, we present a compilation of both theoretical and experimental studies on moment analysis and Zipf…

Nuclear Experiment · Physics 2007-05-23 Y. G. Ma

Systems evolving according to the standard concept of biological or technological evolution are often described by catalytic evolution equations. We study the structure of these equations and find a deep relationship to classical…

Physics and Society · Physics 2007-05-23 Rudolf Hanel , Stuart A. Kauffman , Stefan Thurner