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dc.contributor.authorBaaquie, Belal E.-
dc.date.accessioned2017-07-20T03:04:35Z-
dc.date.available2017-07-20T03:04:35Z-
dc.date.issued2013-
dc.identifier.citationBaaquie, Belal E. (2013). Statistical microeconomics. Physica A, 392 (19), pp. 4400-4416.en_US
dc.identifier.issn0378-4371-
dc.identifier.urihttp://www.sciencedirect.com/science/article/pii/S0378437113004135?via%3Dihub-
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2598-
dc.description.abstractA statistical generalization is made of microeconomics in the spirit of going from classical to statistical mechanics. The price and quantity of every commodity1 traded in the market, at each instant of time, is considered to be an independent random variable: all prices and quantities are considered to be stochastic processes, with the observed market prices being a random sample of the stochastic prices. The dynamics of market prices is determined by an action functional and, for concreteness, a specific model is proposed. The model can be calibrated from the unequal time correlation of the market commodity prices. A perturbation expansion for the correlation functions is defined in powers of the inverse of the total budget of the aggregate consumer and the propagator for the market prices is evaluated.en_US
dc.languageEnglish-
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.rights2013. Elsevier-
dc.sourceSEDONA-
dc.subjectEconophysicsen_US
dc.titleStatistical microeconomicsen_US
dc.typeJournal Articleen_US
ikr.topic.maintopicConventional financeen_US
ikr.topic.subtopicEconomicsen_US
dc.identifier.doidoi:10.1016/j.physa.2013.05.008-
ikr.doctypeScholarly Works-
Appears in Collections:Journal Article


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  • Full metadata record
    DC FieldValueLanguage
    dc.contributor.authorBaaquie, Belal E.-
    dc.date.accessioned2017-07-20T03:04:35Z-
    dc.date.available2017-07-20T03:04:35Z-
    dc.date.issued2013-
    dc.identifier.citationBaaquie, Belal E. (2013). Statistical microeconomics. Physica A, 392 (19), pp. 4400-4416.en_US
    dc.identifier.issn0378-4371-
    dc.identifier.urihttp://www.sciencedirect.com/science/article/pii/S0378437113004135?via%3Dihub-
    dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2598-
    dc.description.abstractA statistical generalization is made of microeconomics in the spirit of going from classical to statistical mechanics. The price and quantity of every commodity1 traded in the market, at each instant of time, is considered to be an independent random variable: all prices and quantities are considered to be stochastic processes, with the observed market prices being a random sample of the stochastic prices. The dynamics of market prices is determined by an action functional and, for concreteness, a specific model is proposed. The model can be calibrated from the unequal time correlation of the market commodity prices. A perturbation expansion for the correlation functions is defined in powers of the inverse of the total budget of the aggregate consumer and the propagator for the market prices is evaluated.en_US
    dc.languageEnglish-
    dc.language.isoenen_US
    dc.publisherElsevieren_US
    dc.rights2013. Elsevier-
    dc.sourceSEDONA-
    dc.subjectEconophysicsen_US
    dc.titleStatistical microeconomicsen_US
    dc.typeJournal Articleen_US
    ikr.topic.maintopicConventional financeen_US
    ikr.topic.subtopicEconomicsen_US
    dc.identifier.doidoi:10.1016/j.physa.2013.05.008-
    ikr.doctypeScholarly Works-
    Appears in Collections:Journal Article


  • Statistical_microeconomics_belal.pdf
    • Size : 751,32 kB

    • Format : Adobe PDF

    • View : 
    • Download :