Epstein Secrets

h regard to producing simulations of my models proposed in 2006. The exchange model proved difficult to construct. However, in March 2010 Maria and George produced the first Matlab model for me based on the GLV model in the second part of my 2006 note. Somewhat to my surprise, this produced a perfect

rchers in liquidity. q is just the ratio of K to W. At a whole stock market level, both company risk

butions, and the split of the returns from labour and capital are all long-standing 'anomalies' within economics. Economists such as Schumpeter and Gabaix have noted these regularities [Gabaix 2009]. Why almost all other economists, even heterodox economists such as Gallegati et al, have shown such dis

tween the capital K and it's financial equivalent W. We will assume that total K = total W, and so as

nvariants of this type might lay the foundations for an entirely novel type of theory." Schumpeter (1949, p. 155), discussing the Pareto law — via [Gabaix 2009] This paper introduces some mathematical and simulation models and supports these models with various theoretical ideas from economics, mathem

onsidered it and rejected it on other grounds. J. W. Gibbs served as Irving Fisher's thesis adviser a

a particular focus of attention, as its form gives rise to constant shares of returns to labour and capital. (I am somewhat reluctant to criticise Gabaix, as he is one of the few economists who has recognised the importance of power-laws and other 'anomalous' invariants in economics. However his quote