Regensburg 2007 – scientific programme

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AKSOE: Arbeitskreis Physik sozio-ökonomischer Systeme

AKSOE 2: Financial Markets and Risk Management I

AKSOE 2.1: Talk

Monday, March 26, 2007, 10:15–10:45, H8

There can only be one! — •Johannes Josef Schneider, Sebastian Golke, Tobias Preis, and Wolfgang Paul — Institute of Physics, Johannes Gutenberg University of Mainz, Staudinger Weg 7, 55099 Mainz, Germany

Demand and offer determine the price is a commonly accepted axiom in economics. However, when studying models simulating financial markets and containing this axiom as a key ingredient, we find that a small and decreasing group of agents aggregates all the assets and the money and dictates the price, until finally only one agent remains.