Abstract
In this chapter we discuss Aoki’s work on the description of clusters of economic agents acting in a market. Specifically, we briefly discuss his work on the Ewens distribution and its application in a model of stock market with heterogeneous agents. We then review recent empirical analyses on the heterogeneity of financial market participants and make a working hypothesis for an empirical study on the distribution of the number of clusters of market participants in a real stock market monitored with a resolution down to the shadowed identity of market participants.
| Original language | English |
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| Title of host publication | Complexity, Heterogeneity, and the Methods of Statistical Physics in Economics Essays in Memory of Masanao Aoki |
| Pages | 203-212 |
| Number of pages | 10 |
| Publication status | Published - 2020 |