Related papers: A drift formulation of Gresham's Law

In a closed economic system, money is conserved. Thus, by analogy with energy, the equilibrium probability distribution of money must follow the exponential Gibbs law characterized by an effective temperature equal to the average amount of…

The time dependence of the currency exchange rate K treated as a function of national dividend, investments and difference between total demand for a goods and supply is considered. To do this a proposed earlier general algorithm of…

We discuss price variations distributions in foreign exchange markets, characterizing them both in calendar and business time frameworks. The price dynamics is found to be the result of two distinct processes, a multi-variance diffusion and…

The drift burst hypothesis postulates the existence of short-lived locally explosive trends in the price paths of financial assets. The recent U.S. equity and treasury flash crashes can be viewed as two high-profile manifestations of such…

The Fluctuation Theorem describes the probability ratio of observing trajectories that satisfy or violate the second law of thermodynamics. It has been proved in a number of different ways for thermostatted deterministic nonequilibrium…

A variation in the environment of a system, such as the temperature, the concentration of a chemical solution or the appearance of a magnetic field, may lead to a drift in one of the parameters. If the parameter crosses a bifurcation point,…

We present a differential equation for the flow rate of granular materials during the discharge of a silo. This is based in the energy balance of the variable mass system in contrast with the traditional derivations based on heuristic…

In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to…

Particle flows injected as beams and scattered by an intruder are numerically studied. We find a crossover of the drag force from Epstein's law to Newton's law, depending on the ratio of the speed to the thermal speed. These laws can be…

The motion of a particle in a correlated random potential under the influence of a driving force is investigated in mean field theory. The correlations of the disorder are characterized by a short distance cutoff and a power law decay with…

We inroduce a new model for Bingham fluids with a complicated dependence of the deformation velocity on the shear stress. Specific features of the flow rate for such fluid are studied. This model embraces many special and limiting cases,…

The effect of a drift term in the presence of fixed boundaries is studied for the one-dimensional Edwards-Wilkinson equation, to reveal a general mechanism that causes a change of exponents for a very broad class of growth processes. This…

We have studied the statistical mechanics of money circulation in a closed economic system. An explicit statistical formulation of the circulation velocity of money is presented for the first time by introducing the concept of holding time…

We consider a two dimensional Turing like system with two diffusing species which interact with each other. Considering the species to be charged, we include the effect of an electric field along a given direction which can lead to a drift…

A finite element approach to the elastic flow of a curve coupled with a diffusion equation on the curve is analysed. Considering the graph case, the problem is weakly formulated and approximated with continuous linear finite elements, which…

The motion and deformation of a droplet suspended in an unbounded fluid with an arbitrary, but Stokesian, imposed flow is investigated when there is a slip at the interface between the two liquids. The boundary condition at the interface is…

The Hamiltonian formulation of the motion of a spinning relativistic particle in an external electromagnetic field is considered. The approach is based on the introduction of new coordinates and their conjugated momenta to describe the spin…

Trading pressure from one asset can move the price of another, a phenomenon referred to as cross impact. Using tick-by-tick data spanning 5 years for 500 assets listed in the United States, we identify the features that make cross-impact…

While entropy changes are the usual subject of fluctuation theorems, we seek fluctuation relations involving time-symmetric quantities, namely observables that do not change sign if the trajectories are observed backward in time. We find…

The goal of this work is to analyze a model for the rate-independent evolution of sets with finite perimeter. The evolution of the admissible sets is driven by that of a given time-dependent set, which has to include the admissible sets and…