Kestutis Staliunas
Physikalisch-Technischen Bundesanstalt, Braunschweig
Universitat Politècnica de Catalunya - ETSEIT
 

We consider an ensemble where the interacting particles (market participants): 1) are bosonic, i.e. tend to condensate; 2) are profit seeking, i.e. prefer to occupy the states with larger energy (richness). We show that such ensemble of particles show equilibrium distributions very similar to those observed in finance markets, i.e. the Pareto distribution of  richness, and Levy distributions of price variations.

The model is described more in detail in:
K.Staliunas, Bose-Einstein Condensation in Financial Systems,
submitted 2003, http://xxx.lanl.gov/abs/cond-mat/0303271