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POWER LAWS ARE LOGARITHMIC BOLTZMANN LAWS
Open accessAbstract
Multiplicative random processes in (not necessarily equilibrium or steady state) stochastic systems with many degrees of freedom lead to Boltzmann distributions when the dynamics is expressed in terms of the logarithm of the elementary variables. In terms of the original variables this gives a power-law distribution. This mechanism implies certain relations between the constraints of the system, the power of the distribution and the dispersion law of the fluctuations. These predictions are validated by Monte Carlo simulations and experimental data. We speculate that stochastic multiplicative dynamics might be the natural origin for the emergence of criticality and scale hierarchies without fine-tuning.
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Citations
Cited by
Power Laws in Economics and Finance
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Yakovenko, V. M., & Rosser, J. B. (2009) · Reviews of Modern Physics · doi:10.1103/revmodphys.81.1703 · Cited by 517
Self-organized criticality as a fundamental property of neural systems
Hesse, J., & Gross, T. (2014) · Frontiers in Systems Neuroscience · doi:10.3389/fnsys.2014.00166 · Cited by 440
Power Laws in Economics: An Introduction
Gabaix, X. (2016) · Journal of Economic Perspectives · doi:10.1257/jep.30.1.185 · Cited by 435
The Distribution of Wealth and Fiscal Policy in Economies With Finitely Lived Agents
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Metadata
- Authors
- LEVY, M., & SOLOMON, S.
- Venue
- International Journal of Modern Physics C
- Publisher
- World Scientific Pub Co Pte Lt
- Published
- 1996-08
- Volume
- 07
- Issue
- 04
- Pages
- 595-601
- ISSN
- 0129-1831 (ISSN-L)
- 1793-6586
- OpenAlex
- W2053155700
- Cited by
- 290
- References
- 0
- FWCI
- 6.02
- Type
- journal article
- Language
- en
- Open access
- green
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- LEVY, M., & SOLOMON, S. (1996). POWER LAWS ARE LOGARITHMIC BOLTZMANN LAWS. International Journal of Modern Physics C. https://doi.org/10.1142/s0129183196000491
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