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SUMMARY:Scaling of ensemble fluctuation and Pareto laws in the distributio
 ns of average property prices per block in Bogotá
DTSTART;VALUE=DATE-TIME:20260414T222500Z
DTEND;VALUE=DATE-TIME:20260414T223200Z
DTSTAMP;VALUE=DATE-TIME:20260414T043411Z
UID:indico-contribution-334@fisindico.uniandes.edu.co
DESCRIPTION:Speakers: Esteban Quintero Martinez (Universidad Nacional de C
 olombia)\nAn econophysical study of datasets on cadastral and commercial v
 alues of average prices per property per block in Bogotá leads us to iden
 tify the existence of ensemble fluctuation scaling. This scaling\, which i
 s a property of complex systems observed in a variety of natural scenarios
  and is characterized by a power-law relationship between the variance and
  the mean of the data\, is found for the first time in data on average urb
 an property prices. Furthermore\, we find that the scaling of ensemble flu
 ctuations exhibit spatial scale invariance when considering average proper
 ty prices per block at the following spatial scales: blocks\, neighborhood
 s\, zoning planning units\, and localities. Finally\, for low and medium a
 verage price values\, we find that the probability distribution fits a log
 normal distribution\, while the distribution above a certain price thresho
 ld follows a Pareto law for heavy tails.\n\nhttps://fisindico.uniandes.edu
 .co/event/23/contributions/334/
LOCATION:Universidad Nacional Edificio 564
URL:https://fisindico.uniandes.edu.co/event/23/contributions/334/
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