Related papers: Hierarchical financial structures with money casca…
The ocean and the atmosphere, and hence the climate, are governed at large scale by interactions between pressure gradient, Coriolis and buoyancy forces. This leads to a quasi-geostrophic balance in which, in a two-dimensional-like fashion,…
Two-dimensional turbulent flows, and to some extent, geophysical flows, are systems with a large number of degrees of freedom, which, albeit fluctuating, exhibit some degree of organization: coherent structures emerge spontaneously at large…
Fusion rules in turbulence specify the analytic structure of many-point correlation functions of the turbulent field when a group of coordinates coalesce. We show that the existence of flux equilibrium in fully developed turbulent systems…
The existence of a second quadratic inviscid invariant, the helicity, in a turbulent flow leads to coexisting cascades of energy and helicity. An equivalent of the four-fifth law for the longitudinal third order structure function, which is…
We consider a model of financial contagion in a bipartite network of assets and banks recently introduced in the literature, and we study the effect of power law distributions of degree and balance-sheet size on the stability of the system.…
The JHU turbulence database [1] can be used with a state of the art visualisation tool [2] to generate high quality fluid dynamics videos. In this work we investigate the classical idea that smaller structures in turbulent flows, while…
Different models of capital exchange among economic agents have been proposed recently trying to explain the emergence of Pareto's wealth power law distribution. One important factor to be considered is the existence of risk aversion. In…
We study a stochastic multiplicative system composed of finite asynchronous elements to describe the wealth evolution in financial markets. We find that the wealth fluctuations or returns of this system can be described by a walk with…
The separating and reattaching turbulent flow past a rectangular cylinder is studied to describe how small and large scales contribute to the sustaining mechanism of the velocity fluctuations. The work is based on the Anisotropic…
The global financial system can be represented as a large complex network in which banks, hedge funds and other financial institutions are interconnected to each other through visible and invisible financial linkages. Recently, a lot of…
A microscopic model of financial markets is considered, consisting of many interacting agents (spins) with global coupling and discrete-time thermal bath dynamics, similar to random Ising systems. The interactions between agents change…
An interbank market lets participants pool the risk arising from the combination of illiquid investments and random withdrawals by depositors. But it also creates the potential for one bank's failure to trigger off avalanches of further…
Two dimensional turbulence has a remarkable tendency to self-organize into large, coherent structures, forming a mean flow. The purpose of this paper is to elucidate how these structures are sustained, and what determines them and the…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics offers models of markets as complex systems, that try to comprehend macro-, system-wide states of the economy from the…
What makes economic and ecological networks so unlike other highly skewed networks in their tendency toward turbulence and collapse? Here, we explore the consequences of a defining feature of these networks: their nodes are tied together by…
We study the intermittency properties of the energy and helicity cascades in two 1536^3 direct numerical simulations of helical rotating turbulence. Symmetric and anti-symmetric velocity increments are examined, as well as probability…
The central problem of fully developed turbulence is the energy cascading process. It has revisited all attempts at a full physical understanding or mathematical formulation. The main reason for this failure are related to the large…
We study a model of wealth dynamics [Bouchaud and M\'ezard 2000, \emph{Physica A} \textbf{282}, 536] which mimics transactions among economic agents. The outcomes of the model are shown to depend strongly on the topological properties of…
Turbulent flows in three dimensions are characterized by the transport of energy from large to small scales through the energy cascade. Since the small scales are the result of the nonlinear dynamics across the scales, they are often…
Turbulence is ubiquitous in plasmas, leading to rich dynamics characterized by irregularity, irreversibility, energy fluctuations across many scales, and energy transfer across many scales. Another fundamental and generic feature of…