scholarly journals Classification of cryptocurrency coins and tokens by the dynamics of their market capitalizations

2018 ◽  
Vol 5 (9) ◽  
pp. 180381 ◽  
Author(s):  
Ke Wu ◽  
Spencer Wheatley ◽  
Didier Sornette
Keyword(s):  
Size Distribution ◽  
Power Law ◽  
Technological Innovations ◽  
Size Distribution Of Firms ◽  
The Future ◽  
Theoretical Predictions ◽  
New Entrants ◽  
Power Law Distributions ◽  
Remarkable Agreement

We empirically verify that the market capitalizations of coins and tokens in the cryptocurrency universe follow power-law distributions with significantly different values for the tail exponent falling between 0.5 and 0.7 for coins, and between 1.0 and 1.3 for tokens. We provide a rationale for this, based on a simple proportional growth with birth and death model previously employed to describe the size distribution of firms, cities, webpages, etc. We empirically validate the model and its main predictions, in terms of proportional growth (Gibrat's Law) of the coins and tokens. Estimating the main parameters of the model, the theoretical predictions for the power-law exponents of coin and token distributions are in remarkable agreement with the empirical estimations, given the simplicity of the model. Our results clearly characterize coins as being ‘entrenched incumbents’ and tokens as an ‘explosive immature ecosystem’, largely due to massive and exuberant Initial Coin Offering activity in the token space. The theory predicts that the exponent for tokens should converge to 1 in the future, reflecting a more reasonable rate of new entrants associated with genuine technological innovations.

Power Law Distributions and the Size Distribution of Strikes

2017 ◽  
Vol 48 (3) ◽  
pp. 561-587 ◽  
Author(s):  
Michele Campolieti
Keyword(s):  
Size Distribution ◽  
Power Law ◽  
Model Fit ◽  
Power Law Distribution ◽  
Policy Perspective ◽  
Methodological Research ◽  
Canadian Data ◽  
Alternative Measures ◽  
Power Law Distributions ◽  
Research And Policy

Using Canadian data from 1976 to 2014, I study the size distribution of strikes with three alternative measures of strike size: the number of workers on strike, strike duration in calendar days, and the number of person calendar days lost to a strike. I use a maximum likelihood framework that provides a way to estimate distributions, evaluate model fit, and also test against alternative distributions. I consider a few theories that can create power law distributions in strike size, such as the joint costs model that posits strike size is inversely proportional to dispute costs. I find that the power law distribution fits the data for the number of lost person calendar days relatively well and is also more appropriate than the lognormal distribution. I also discuss the implications of my findings from a methodological, research, and policy perspective.

scholarly journals The Flux Density-Angular Size Distribution for Extragalactic Radio Sources

1977 ◽  
Vol 74 ◽  
pp. 125-132 ◽  
Author(s):  
G. Swarup ◽  
C. R. Subrahmanya
Keyword(s):  
Size Distribution ◽  
Flux Density ◽  
Angular Size ◽  
Evolutionary Model ◽  
Radio Sources ◽  
Extragalactic Radio Sources ◽  
Size Evolution ◽  
Theoretical Predictions ◽  
Best Fit ◽  
Remarkable Agreement

The median values of angular sizes of weak extragalactic radio sources, the flux densities of which lie in the range of about 0. 3 to 5 Jy at 327 MHz, have been determined for a new sample of 119 sources observed during 1973-74, and agree well with the value of about 10 arc sec determined earlier by Swarup (1975). For 8 different flux density ranges, the angular size distribution for the All-sky, 3CR and Ooty radio sources have been compared with theoretical predictions based on the evolutionary model by Kapahi (1975) and show a remarkable agreement with his model except that the best fit is found for a linear size evolution proportional to (l+z)−1.

BUSINESS CYCLE FLUCTUATIONS AND FIRMS' SIZE DISTRIBUTION DYNAMICS

2004 ◽  
Vol 07 (02) ◽  
pp. 223-240 ◽  
Author(s):  
DOMENICO DELLI GATTI ◽  
CORRADO DI GUILMI ◽  
EDOARDO GAFFEO ◽  
GIANFRANCO GIULIONI ◽  
MAURO GALLEGATI ◽  
...  
Keyword(s):  
Size Distribution ◽  
Power Law ◽  
Power Law Distribution ◽  
Distribution Dynamics ◽  
Size Change ◽  
Empirical Distributions ◽  
Straight Line ◽  
Distribution Shifts ◽  
Time Invariant ◽  
Power Law Distributions

Power law behavior is an emerging property of many economic models. In this paper we emphasize the fact that power law distributions are persistent but not time invariant. In fact, the scale and shape of the firms' size distribution fluctuate over time. In particular, on a log–log space, both the intercept and the slope of the power law distribution of firms' size change over the cycle: during expansions (recessions) the straight line representing the distribution shifts up and becomes less steep (steeper). We show that the empirical distributions generated by simulations of the model presented in Ref. 11 mimic real empirical distributions remarkably well.

The effects of particle size distribution on the settleability of CSOs pollutants

2001 ◽  
Vol 43 (5) ◽  
pp. 103-110 ◽  
Author(s):  
E. B. Shin ◽  
H. S. Yoon ◽  
Y. D. Lee ◽  
Y. S. Pae ◽  
S. W. Hong ◽  
...  
Keyword(s):  
Particle Size ◽  
Particle Size Distribution ◽  
Size Distribution ◽  
Power Law ◽  
Particle Diameter ◽  
Size Spectrum ◽  
Average Particle ◽  
Factors Affecting ◽  
Major Factors ◽  
Power Law Distributions

Over the past decades, flocculation and/or sedimentation processes have been adopted to remove pollutants from CSOs. It has been learned that major factors affecting settlement of pollutants are the particle size distribution, their settling velocities and their specific gravity. It is, therefore, a good idea to analyze the particle size distribution and settleability of CSOs pollutants in order to develop details in designing a process. Discussed in this study are pollutant characteristics of CSOs such as particle size distribution and settleability of pollutants. The power law function is applied and is found to be an effective and reliable index for expressing the particle size distribution of pollutants in CSOs. Based on the particle size spectrum analysis, the tendency toward settling and simultaneous flocculation-settling phenomenon of CSOs pollutants is described. Based on the regression analysis it is observed that the derived constants of curves representing settling velocity profile are proportional to the initial concentration of particles and to the β-values of power law distributions. It is also revealed that the simultaneous flocculation-settling processes are effectively described by the changes of the average particle diameter and of the β-values of power law distributions.

scholarly journals Iceberg properties and distributions in three Greenlandic fjords using satellite imagery

2017 ◽  
Vol 58 (74) ◽  
pp. 92-106 ◽  
Author(s):  
Daniel J. Sulak ◽  
David A. Sutherland ◽  
Ellyn M. Enderlin ◽  
Leigh A. Stearns ◽  
Gordon S. Hamilton
Keyword(s):  
Size Distribution ◽  
Satellite Imagery ◽  
Power Law ◽  
Greenland Ice Sheet ◽  
Freshwater Flux ◽  
Tidewater Glaciers ◽  
Grounding Line ◽  
Order Of Magnitude ◽  
Power Law Distributions ◽  
Line Depth

ABSTRACT Icebergs calved from tidewater glaciers represent about one third to one half of the freshwater flux from the Greenland ice sheet to the surrounding ocean. Using multiple satellite datasets, we quantify the first fjord-wide distributions of iceberg sizes and characteristics for three fjords with distinct hydrography and geometry: Sermilik Fjord, Rink Isbræ Fjord and Kangerlussuup Sermia Fjord. We estimate average total iceberg volumes in summer in the three fjords to be 6.4 ± 1.5, 1.7 ± 0.40 and 0.16 ± 0.09 km3, respectively. Iceberg properties are influenced by glacier calving style and grounding line depth, with variations in size distribution represented by exponents of power law distributions that are −1.95 ± 0.06, −1.87 ± 0.05 and −1.62 ± 0.04, respectively. The underwater surface area of icebergs exceeds the subsurface area of glacial termini by at least one order of magnitude in all three fjords, underscoring the need to include iceberg melt in fjord freshwater budgets. Indeed, in Sermilik Fjord, we calculate summertime freshwater flux from iceberg melt of 620 m3 s−1 (±140 m3 s−1), similar in magnitude to subglacial discharge. The method developed here can be extended across Greenland to assess relationships between glacier calving, iceberg discharge and freshwater production.

scholarly journals Trade and the size distribution of firms: Evidence from the German Empire

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Marcus Biermann
Keyword(s):  
Size Distribution ◽  
German Empire ◽  
Trade Data ◽  
Industry Level ◽  
Size Distribution Of Firms

Abstract What effect did trade have on the size distribution of firms during the first wave of globalization? Three historical datasets from the German Empire between 1875 and 1907 were collected and harmonized to answer this question. This paper combines industry census and bilateral railway trade data from the same industry and region along with industry-level tariff data. The evidence shows that increases in aggregate trade caused the share of firms to shift from smaller to larger firms. Exogenous decreases in tariffs caused an increase in the share of the largest firms. The regional distributive effects of trade on inequality between firms that are discussed in the contemporaneous literature were already present during the first wave globalization.

scholarly journals Revising the Supernatural: Prospero Lambertini's Reconsideration of the Concept of Miracle

2021 ◽  
Vol 90 (1) ◽  
pp. 45-67
Author(s):  
Alessandro Laverda
Keyword(s):  
Laws Of Nature ◽  
Thomas Aquinas ◽  
New Classification ◽  
The Future ◽  
Magnum Opus ◽  
Fourth Book ◽  
The Invisible

AbstractAccording to Thomas Aquinas, a miracle had to surpass the whole of the created nature, which meant the visible and corporeal, as well as the invisible and incorporeal nature. Prospero Lambertini (1675–1758), the future Pope Benedict XIV, when he was promoter of the faith, noticed that it was impossible to distinguish a cure that occurred beyond the boundaries of incorporeal and invisible nature (the whole nature) from one that exceeded just corporeal and visible nature. The issue was of utmost importance since it risked delegitimizing the whole system of miracle verification. Consequently, Lambertini, in the fourth book of his magnum opus De servorum Dei beatificatione et beatorum canonizatione (On the Beatification of the Servants of God and the Canonization of the Blessed, 1734–1738), developed a new classification of miracles, which included the works of angels, with the aim of solving the problem. Furthermore, to counteract Spinoza's denial of miracles, he claimed that miracles were not contrary to the laws of nature.

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