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BEGIN:VEVENT
DTSTAMP:20261026T080009Z
LAST-MODIFIED:20121116T203436Z
DTSTART:20111005T162700Z
DTEND:20111005T175700Z
UID:event184@bu.edu
URL:http://physics.bu.edu/internal/events/show/184
SUMMARY:Economic Fluctuations and Statistical Physics
DESCRIPTION:Featuring Gene Stanley\nPoster: http://physics.bu.edu/posters/2
	011_Fall/Stanley-Econ-1005.pdf\n\nEconomics Department Seminar\n\n Abstract
	: Recent analysis of truly huge quantities of empirical data suggests that 
	classic economic theories not only fail for a few outliers\, but that there
	 occur similar outliers of every possible size. In fact\, if one analyzes o
	nly a small data set\, then outliers appear to occur as ``rare events.'
	' However\, when we analyze orders of magnitude more data (2 billion da
	ta points)\, we find orders of magnitude more outliers---so ignoring them i
	s not a responsible option\, and studying their properties becomes a realis
	tic goal. We find that the statistical properties of these ``outliers'&
	#39; are identical to the statistical properties of everyday fluctuations.
LOCATION:BSR 264\, Rm 315\, \, 
STATUS:CONFIRMED
CLASS:PUBLIC
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