958 citations · 5k across the 148 of their papers we have counts for
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Evolutionary dynamics from a variational principle
Peter Klimek, Stefan Thurner, Rudolf Hanel
We demonstrate with a thought experiment that fitness-based population dynamical approaches to evolution are not able to make quantitative, falsifiable predictions about the long-t…
Measuring social dynamics in a massive multiplayer online game
Michael Szell, Stefan Thurner
Quantification of human group-behavior has so far defied an empirical, falsifiable approach. This is due to tremendous difficulties in data acquisition of social systems. Massive m…
Schumpeterian economic dynamics as a quantifiable minimum model of evolution
Stefan Thurner, Peter Klimek, Rudolf Hanel
We propose a simple quantitative model of Schumpeterian economic dynamics. New goods and services are endogenously produced through combinations of existing goods. As soon as new g…
Limit distributions of scale-invariant probabilistic models of correlated random variables with the q-Gaussian as an explicit example
Rudolf Hanel, Stefan Thurner, Constantino Tsallis
Extremization of the Boltzmann-Gibbs (BG) entropy under appropriate norm and width constraints yields the Gaussian distribution. Also, the basic solutions of the standard Fokker-Pl…
Leverage Causes Fat Tails and Clustered Volatility
Stefan Thurner, J. Doyne Farmer, John Geanakoplos
We build a simple model of leveraged asset purchases with margin calls. Investment funds use what is perhaps the most basic financial strategy, called "value investing", i.e. syste…