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We find numerical and empirical evidence for dynamical, structural and topological phase transitions on the (German) Frankfurt Stock Exchange (FSE) in the temporal vicinity of the worldwide financial crash. Using the Minimal Spanning Tree…

统计金融 · 定量金融 2015-06-12 M. Wiliński , A. Sienkiewicz , T. Gubiec , R. Kutner , Z. R. Struzik

We study the crash dynamics of the Warsaw Stock Exchange (WSE) by using the Minimal Spanning Tree (MST) networks. We find the transition of the complex network during its evolution from a (hierarchical) power law MST network, representing…

统计金融 · 定量金融 2023-07-19 A. Sienkiewicz , T. Gubiec , R. Kutner , Z. R. Struzik

Dynamical phase transitions (DPTs) characterize critical changes in system behavior occurring at finite times, providing a lens to study nonequilibrium phenomena beyond conventional equilibrium physics. While extensively studied in quantum…

物理与社会 · 物理学 2024-12-10 Jiazhen Liu , Nathaniel M. Aden , Debasish Sarker , Chaoming Song

We consider the thermodynamic behavior of local fluctuations occurring in a stable or metastable bulk phase. For a system with three or more phases, a simple analysis based on classical nucleation theory predicts that small fluctuations…

We study a minimal model of traffic flows in complex networks, simple enough to get analytical results, but with a very rich phenomenology, presenting continuous, discontinuous as well as hybrid phase transitions between a free-flow phase…

统计力学 · 物理学 2015-05-13 Daniele De Martino , Luca Dall'Asta , Ginestra Bianconi , Matteo Marsili

Nucleation is the onset of a first-order phase transition by which a metastable phase transforms into a more stable one. Such a phase transition occurs when an initial system initially in equilibrium is destabilized by the change of an…

材料科学 · 物理学 2010-01-27 Emmanuel Clouet

Motivated by empirical observations on the interplay of trends and reversion, a lattice gas model of financial markets is presented. The shares of an asset are modeled by gas molecules that are distributed across a hidden social network of…

统计金融 · 定量金融 2022-03-02 Christof Schmidhuber

The dynamics of phase transitions plays a crucial r\^ole in the so-called interface between high energy particle physics and cosmology. Many of the interesting results generated during the last fifteen years or so rely on simplified…

高能物理 - 唯象学 · 物理学 2007-05-23 Marcelo Gleiser

We demonstrate that with appropriate quantum correlation function, a real-space network model can be constructed to study the phase transitions in quantum systems. For the three-dimensional bosonic system, the single-particle density matrix…

统计力学 · 物理学 2019-07-12 Shehtab Zaman , Wei-Cheng Lee

Financial markets, being spectacular examples of complex systems, display rich correlation structures among price returns of different assets. The correlation structures change drastically, akin to phase transitions in physical phenomena,…

统计金融 · 定量金融 2020-07-23 Anirban Chakraborti , Hrishidev , Kiran Sharma , Hirdesh K. Pharasi

Financial market is an example of complex system, which is characterized by a highly intricate organization and the emergence of collective behavior. In this paper, we quantify this emergent dynamics in the financial market by using…

综合金融 · 定量金融 2011-09-07 Thomas Kauê Dal'Maso Peron , Francisco Aparecido Rodrigues

In a highly interdependent economic world, the nature of relationships between financial entities is becoming an increasingly important area of study. Recently, many studies have shown the usefulness of minimal spanning trees (MST) in…

统计金融 · 定量金融 2013-08-19 Zeyu Zheng , Kazuko Yamasaki , Joel N. Tenenbaum , H. Eugene Stanley

The principal aim of this work is the evidence on empirical way that catastrophic bifurcation breakdowns or transitions, proceeded by flickering phenomenon, are present on notoriously significant and unpredictable financial markets.…

统计金融 · 定量金融 2014-02-18 M. Kozłowska , T. Gubiec , T. R. Werner , M. Denys , A. Sienkiewicz , R. Kutner , Z. Struzik

In this dissertation two simple models of stock exchange are developed and simulated numerically. The first is characterized by centralized trading with a market maker. Unfortunately, this model is unable to generate realistic market…

统计力学 · 物理学 2008-12-02 Hendrik J. Blok

A condensation transition was predicted for growing technological networks evolving by preferential attachment and competing quality of their nodes, as described by the fitness model. When this condensation occurs a node acquires a finite…

统计力学 · 物理学 2009-11-13 Luca Ferretti , Ginestra Bianconi

The mean-field approximation predicts pairing and shape phase transitions in nuclei as a function of temperature or excitation energy. However, in the finite nucleus the singularities of these phase transitions are smoothed out by quantal…

核理论 · 物理学 2015-06-11 Y. Alhassid , C. Özen , H. Nakada

In many systems, nucleation of a stable solid may occur in the presence of other (often more than one) metastable phases. These may be polymorphic solids or even liquid phases. In such cases, nucleation of the solid phase from the melt may…

材料科学 · 物理学 2013-04-08 Mantu Santra , Rakesh S. Singh , Biman Bagchi

We study a mean field model of a complex network, focusing on edge and triangle densities. Our first result is the derivation of a variational characterization of the entropy density, compatible with the infinite node limit. We then…

数学物理 · 物理学 2015-06-12 Charles Radin , Lorenzo Sadun

The financial market is a complex dynamical system composed of a large variety of intricate relationships between several entities, such as banks, corporations and institutions. At the heart of the system lies the stock exchange mechanism,…

Nucleation is considered near the pseudospinodal in a one-dimensional $\phi^4$ model with a non-conserved order parameter and long-range interactions. For a sufficiently large system or a system with slow relaxation to metastable…

统计力学 · 物理学 2007-05-23 A. O. Schweiger , K. Barros , W. Klein
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