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A STATISTICAL DYNAMIC APPROACH TO STRUCTURAL EVOLUTION OF COMPLEX CAPITAL MARKET SYSTEMS.
- Source :
-
International Journal of Modern Physics B: Condensed Matter Physics; Statistical Physics; Applied Physics . 5/20/2011, Vol. 25 Issue 13, p1807-1821. 15p. 1 Chart, 8 Graphs. - Publication Year :
- 2011
-
Abstract
- As an important part of modern financial systems, capital market has played a crucial role on diverse social resource allocations and economical exchanges. Beyond traditional models and/or theories based on neoclassical economics, considering capital markets as typical complex open systems, this paper attempts to develop a new approach to overcome some shortcomings of the available researches. By defining the generalized entropy of capital market systems, a theoretical model and nonlinear dynamic equation on the operations of capital market are proposed from statistical dynamic perspectives. The US security market from 1995 to 2001 is then simulated and analyzed as a typical case. Some instructive results are discussed and summarized. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 02179792
- Volume :
- 25
- Issue :
- 13
- Database :
- Academic Search Index
- Journal :
- International Journal of Modern Physics B: Condensed Matter Physics; Statistical Physics; Applied Physics
- Publication Type :
- Academic Journal
- Accession number :
- 61039108
- Full Text :
- https://doi.org/10.1142/S021797921110031X